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-   -   Whats the point of boat brokers? (https://www.sailnet.com/forums/general-discussion-sailing-related/329126-whats-point-boat-brokers.html)

desmond275 04-08-2019 01:58 PM

Whats the point of boat brokers?
 
Similar to real estate agents in the Socal market- is it a needed service? I would prefer to deal directly with the previous owner who has spent years maintaining the boat and knows it far better than a broker. What am I missing?

john61ct 04-08-2019 02:13 PM

Re: Whats the point of boat brokers?
 
The seller is paying for a convenience factor, likely well worth it.

As a buyer, I would only engage a broker for expensive boats where most of them are already represented by brokers.

The price history databases they have access to can be very helpful.

For cheaper / old boats I would indeed prefer to deal direct with the owner, but that's not up to me.

And of course then I'm spending more time looking myself, researching contract / escrow / lien / titling / tax / registration / documentation etc details.

desmond275 04-08-2019 02:34 PM

Re: Whats the point of boat brokers?
 
Thanks for the reply- my price point is 30K for boats 25 years old that typically have extensive maintenance records. The current boat I have my eye on is a pacific seacraft that is represented by a broker. I found the owner posting a bunch on here documenting his experience owning the boat and would prefer to deal directly with him.

Minnewaska 04-08-2019 02:55 PM

Re: Whats the point of boat brokers?
 
If the owner hired a broker, it stands to reason they want someone else to deal with it. The motivation is often the time it takes to show, vet, negotiate. Listing contracts typically call for the broker to be paid, even if the owner sources and negotiates the sale. Otherwise, the broker is competing against their own client, which means they are wasting their time fishing that pond.

You can always ask, some owners may be willing to engage. Most won't.... hence the broker.

albrazzi 04-08-2019 03:05 PM

Re: Whats the point of boat brokers?
 
A good broker can head off many problems. I bought and sold one low priced local boat through the same broker, both transactions. He was candid and said he usually doesn't work with low value Boats but he knew it would be a quick sale, that's just the way they are, it can be a LOT of work to sell and they go for the money.

Davy J 04-08-2019 04:25 PM

Re: Whats the point of boat brokers?
 
There can be other factors as well. The boat in the slip next to me is for sale, in SW Florida. The owners live in Indiana.........

john61ct 04-08-2019 04:56 PM

Re: Whats the point of boat brokers?
 
Quote:

Originally Posted by desmond275 (Post 2051594594)
I found the owner posting a bunch on here documenting his experience owning the boat and would prefer to deal directly with him.

Well that is up to them.

The broker gets the commission either way.

capta 04-08-2019 05:05 PM

Re: Whats the point of boat brokers?
 
I used a buyer's broker on this boat and he was fantastic. Taking his cut from the seller's broker, he gave me a lot of good advice on this particular boat, as he'd sailed one in the islands some years in a row. He also handled the escrow and money transfer and made up all the documents I needed to get the boat documented.
He flew from Wi to NYC to go over the boat with me and helped because I didn't care for the seller's broker. All it cost me was lunch and transport to and from the airport.
A seller's broker can get the word out much farther than an individual and though it costs you money, they can make the difference between a quick sale and a long time between offers.
A good broker isn't going to really care about how big his share will be if the boat sells fast. Selling 20 boats for 2k a month beats sitting around on their ass and selling two big commission boats a year for most.

desmond275 04-08-2019 05:17 PM

Re: Whats the point of boat brokers?
 
Quote:

Originally Posted by Davy J (Post 2051594642)
There can be other factors as well. The boat in the slip next to me is for sale, in SW Florida. The owners live in Indiana.........

Good point!

desmond275 04-08-2019 05:22 PM

Re: Whats the point of boat brokers?
 
Quote:

Originally Posted by john61ct (Post 2051594662)
Well that is up to them.

The broker gets the commission either way.

I guess it couldn't hurt to ask the broker for the sellers contact info to discuss previous maintenance and nuances with the ownership.


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