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Old 20-02-2015, 08:31   #1
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Broker fee

I want to sell my 20 ski boat. I went to a local broker who said he could sell it but he wants to charge me a $95/month storage fee. The boat would be stored on his lot on a trailer. I asked if this was normal and he said yes.

This can't be right can it? Why not just build this expense into his 10% commission?

Also, what do other boat brokers typically take for a commission?
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Old 20-02-2015, 09:29   #2
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Re: Broker fee

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I want to sell my 20 ski boat. I went to a local broker who said he could sell it but he wants to charge me a $95/month storage fee. The boat would be stored on his lot on a trailer. I asked if this was normal and he said yes.

This can't be right can it? Why not just build this expense into his 10% commission?

Also, what do other boat brokers typically take for a commission?

10% is normal. $95 per month for storage doesn't seem too expensive, and if it's priced right this may be about the right time of year to sell it, depending on where you are.

You can also try craigslist, which is free, but then you have to deal with the calls.
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Old 20-02-2015, 11:55   #3
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Re: Broker fee

Brokers usually charge 10% but in my experience they don't usually deal with smaller or less expensive boats. If you have questions about storage fees, why not just contact another broker?


In some areas there are use boat dealers, much like used car dealers. You might check with some of them.
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Old 20-02-2015, 11:59   #4
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Re: Broker fee

Knot 10 charges 7%
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Old 20-02-2015, 12:35   #5
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Re: Broker fee

Probably doesn't much apply to a 20' Ski Boat but keep in mind that when you use a discount broker to sell your boat you limit its appeal to other brokers.

Most listings are sold by other brokers, not the listing broker. These brokers share the fee with the listing broker. When the fee is less there is less to share and they are more apt to steer their clients elsewhere. Human nature.

In this internet age one might say, so what? A buyer can probably find the boat on his own which is true. What happens then however, is that the listing broker knows that there will be no loyalty and his only shot is to sell you the one boat that you contacted him on. He/she has no incentive to give you other advice about other boats or opportunities unless he has them listed himself.

Nothing wrong with any of this. Just keep it in mind when you later criticize the broker for not being "helpful".
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Old 20-02-2015, 12:47   #6
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Re: Broker fee

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I asked if this was normal and he said yes.

?
A rhetorical question. Did you really have any doubt he would respond differently?

Everything is negotiable. If not his commission, then the monthly storage fee, a not-to-exceed total storage fee regardless of duration, an escalating commission with a low start %, etc...
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Old 20-02-2015, 12:51   #7
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Re: Broker fee

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Everything is negotiable. If not his commission, then the monthly storage fee, a not-to-exceed total storage fee regardless of duration, an escalating commission with a low start %, etc...
On a 20' Ski Boat?!

Maybe the OP should say what he hopes to sell it for?
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Old 21-02-2015, 05:32   #8
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Re: Broker fee

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On a 20' Ski Boat?!

FWIW, this could have been a $75K boat, when new. If still new-ish, it may well still be worth a big chunk of change...

-Chris
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