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Old 08-11-2016, 16:47   #1
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Buyers Broker

If I use a broker to assist in buying a boat, do the seller's broker and buyer's broker split the commission?
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Old 08-11-2016, 16:53   #2
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Re: Buyers Broker

That's the way it should be. It doesn't hurt that you clarify that with the would be buyer's broker before hand, but it is the way it normally works.

I just used a buyer's broker in Annapolis, MD this way. I contacted him since I live abroad, and he helped me taking a look at a boat I had seen in Yachtworld I liked. It's important when using a buyer's broker to NOT contact a Yachtworld ad but through your buying broker; brokers don't like that you contact them and then introduce a buyer's broker. I kind of understand the logic. Anyhow, if you are planning on using a buyer's broker, you should only contact possible listing through him.

My buying broker did a great job helping me out through the process (first time for me). Add to that I had a "local" player in the whole thing, me being foreign. But after the deal fell through on the original boat I flew in to see, he was most helpful taking me around to look at several other boats a couple of days. He was proactive in not only "opening the boats", but helping me move stuff around to check chainplates, bilges, engines, panels, he had a moisture meter with him, and he made remarks out of being an experienced sailor.

I think I was lucky that I had a good broker. Still, it didn't cost me a cent

BTW if anyone needs a broker in Annapolis, his name is Keith Mayes and works @ Annapolis Yacht Sales.
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Old 09-11-2016, 09:44   #3
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Re: Buyers Broker

Gaucho - thanks for your thoughtful reply. A very helpful perspective.
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Old 02-02-2017, 16:28   #4
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Re: Buyers Broker

Scenario:
If you go boat buying without a BuyersBroker and only deal direct wi the listing brokers, can you get the benefit of half the commission in discount on purchase price?
I recently put in an offer on a boat that the ListerBroker let me on to view, and he filled out his name as BuyerBroker on the offer too

Is this a cheeky attempt at Double commission?
A legal necessity?
Would the seller being paying 10% regardless?
Or do sellers get to only pay 5% when there's no buyer broker?

I've never sold a boat - but I'd not look forward to double whammy for a door opening
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Old 02-02-2017, 16:41   #5
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Re: Buyers Broker

The listing broker always gets whatever commission is set out in the listing contract (usually 10%). It is up to him if he wants to split it with a buyer broker (usually they do since it's a quick sale)
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