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Old 26-05-2011, 07:46   #1
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What is the Standard Brokerage Commission

So, what is the standard commission on used boats? BOB
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Old 26-05-2011, 07:48   #2
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pirate Re: What is the Standard Brokerage Commission

In the UK it was between 8 and 12% depending on the brokerage...
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Old 26-05-2011, 08:05   #3
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Re: What is the Standard Brokerage Commission

I think it is usually 8-10% here in the US.
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Old 26-05-2011, 08:22   #4
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Re: What is the Standard Brokerage Commission

In the US it is 10%. If you have a $100,000+ boat you can try negotiating, but like real estate, if you cut the commision then a participating selling broker has less incentive to show your boat. So it is all a trade off. Make sure if you do negotiate a reduced commision it is clear that it comes out of the listing side (usually half) so the selling brokers commsion isn't reduced.

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Old 26-05-2011, 08:23   #5
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Re: What is the Standard Brokerage Commission

10 percent or 3000 dollars, whichever is highest. is why my ericson is still for sale.
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Old 26-05-2011, 09:17   #6
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Re: What is the Standard Brokerage Commission

One dealer wanted 10% or $5,000 - which he "negotiated" down to $3,000.
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Old 26-05-2011, 09:30   #7
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Re: What is the Standard Brokerage Commission

EU side most brokers are wheeler dealers and prepared to negotiate - never more so that today whilst the boat market is depressed. Over here I've never heard of a cap on the fee but no reason why one could not be agreed.
We listed our last boat for sale with 8% commission, negotiated it to 6% when they wanted us to help out by meeting the buyer, and finally agreed 5% in exchange for us accepting slightly less than our asking price.
IMHO no sense in short changing a broker if you want him to work hard for you. Sure, he has to make a living - but he has to work with you also.
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Old 26-05-2011, 09:36   #8
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Re: What is the Standard Brokerage Commission

Good points: My vessel is for sale for $184,900 they want 10%. If I accept a lower offer you can bet some of it is coming out of the $18,490 that they would like.
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Old 27-05-2011, 01:22   #9
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Re: What is the Standard Brokerage Commission

10%? wow. I wonder why for sale by owner sites aren't more popular.
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Old 27-05-2011, 01:38   #10
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Re: What is the Standard Brokerage Commission

6% in my part of the world mainly, and definitely 6% with us
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Old 27-05-2011, 01:46   #11
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Re: What is the Standard Brokerage Commission

Quote:
Originally Posted by Jack Tar View Post
Good points: My vessel is for sale for $184,900 they want 10%. If I accept a lower offer you can bet some of it is coming out of the $18,490 that they would like.
Of course, ... like 10%.
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Old 27-05-2011, 01:57   #12
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Re: What is the Standard Brokerage Commission

8% on average here in Spain.

Quote:
Originally Posted by pteron View Post
I wonder why for sale by owner sites aren't more popular.
Boat I have just bought was on Apolloduck, no doubt explains why the owner could afford to drop the price well below that of a similar boat advertised with a broker.

Another site worth mentioning, Ebay. Sold my flybridge on there so NO broker fees, just a small monthly charge for the classified advert.

So, having bought and sold a boat without the, ahem, 'help' of brokers has probably saved me over 15k, well worth doing!!
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Old 09-06-2011, 16:36   #13
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Re: What is the Standard Brokerage Commission

Let say if boat is advertised for 500K and I'd be willing to pay 400K - is the broker still interested to sell the boat to me ? I guess I would be put in a waiting queue unless he really doesn't find other potential buyers. Also I would guess the owner wouldn't be notified of me as a potential buyer ?!
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Old 09-06-2011, 16:41   #14
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Re: What is the Standard Brokerage Commission

He should be yes as 8% of 400k is still not a bad days work! However, remember, it's still down to the owner being willing to let the boat go for 20% off the asking price.
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Old 09-06-2011, 16:43   #15
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Re: What is the Standard Brokerage Commission

In Canada it's usually 10 per cent. I would have no hesitation in agreeing to this as a seller. The seller pays. When the broker comes to the seller with a deal that's close that's the time the negotiations begin. A smart broker will usually take a smaller commission rather than lose a sale. I have only sold one boat but that's what happened. The broker took a lesser commission rather than lose the deal.
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