Cruisers Forum
 


Join CruisersForum Today

Reply
 
Thread Tools Rate Thread Display Modes
Old 21-01-2016, 09:16   #1
Registered User
 
MrReedatsea's Avatar

Join Date: Dec 2015
Location: Indiana
Boat: 1989 O'Day 322
Posts: 63
Brokers question

I'll explain my story and plans at a later date but for now this is my first sailboat purchase. I'll be flying into Ft. Lauderdale and renting a car on March 26th and will be looking at boats until I find the one that I want and will buy it right then. I've researched extensively, inquired about a couple sailboats, and therefore have been contacted by a couple brokers.

My questions are these: What is my obligation to use one or more than one broker to set up boats to peruse? If two brokers have boats for me to examine is it bad form to look at some boats with one broker and some through a second broker? Is it like buying a home where you contract with a Realtor for a predetermined period of time? What if I find a FSBO un-brokered boat?

Basically, I don't want to be rude but intend to get what I want.

Thank you for your input.

MrReedatsea
(or soon to be at sea)

Home
__________________

__________________
MrReedatsea is offline   Reply With Quote
Old 21-01-2016, 09:58   #2
Moderator
 
a64pilot's Avatar

Cruisers Forum Supporter

Join Date: Oct 2013
Location: Albany Ga.
Boat: Island Packet 38
Posts: 17,032
Re: Brokers question

I think you can do anything you want, but if you sign an agreement between you and a Broker, then I'd assume your obligated to the terms in that agreement.
I started out looking myself, pretty much like your doing, talked to several Brokers and chose one I liked to be my Buyers Broker.
What I was finding that she could set up boat viewings much better and faster than I could, I would often contact Brokers that had a boat for sale and they wouldn't return the call etc., bu they would return hers.
My assumption was that the took a call from another Broker much more seriously, I assumed they got bunches of tire kickers, people who were bored and said what do you think, wanna go look at some boats today?

I'd spend the first few days, with the thought in the back of your mind that you are Broker shopping as well as boat shopping, just in case you decide you may want a Buyers Broker
__________________

__________________
a64pilot is offline   Reply With Quote
Old 21-01-2016, 10:02   #3
Moderator
 
a64pilot's Avatar

Cruisers Forum Supporter

Join Date: Oct 2013
Location: Albany Ga.
Boat: Island Packet 38
Posts: 17,032
Re: Brokers question

If you get a good Broker, one that is knowledgeable, they can very much help determine what boats to look at, and which are a waste of time, may take a dozen or so to weed through first though.
You may be like me and end up with something completely different than what you thought you wanted
__________________
a64pilot is offline   Reply With Quote
Old 21-01-2016, 10:30   #4
Registered User
 
MrReedatsea's Avatar

Join Date: Dec 2015
Location: Indiana
Boat: 1989 O'Day 322
Posts: 63
Re: Brokers question

So I can "broker shop" as well? Sweet! First new thing I've learned.
__________________
MrReedatsea is offline   Reply With Quote
Old 21-01-2016, 10:36   #5
Registered User

Join Date: Feb 2013
Location: WY / Currently in Hayes VA on the Chesapeake
Boat: Ocean Alexander, Ocean 44
Posts: 922
Re: Brokers question

Remember that the broker represents the seller. That being said a good broker can be a big help so talk to several and if you "click" with one use him if that suits you. A great broker can ease your process while representing the seller.
__________________
darylat8750 is offline   Reply With Quote
Old 21-01-2016, 10:41   #6
Moderator
 
a64pilot's Avatar

Cruisers Forum Supporter

Join Date: Oct 2013
Location: Albany Ga.
Boat: Island Packet 38
Posts: 17,032
Re: Brokers question

Didn't you shop Realtors until you found one you liked?
__________________
a64pilot is offline   Reply With Quote
Old 21-01-2016, 10:48   #7
Registered User
 
MrReedatsea's Avatar

Join Date: Dec 2015
Location: Indiana
Boat: 1989 O'Day 322
Posts: 63
Re: Brokers question

I didn't shop Realtors. I used a family friend.
__________________
MrReedatsea is offline   Reply With Quote
Old 21-01-2016, 10:55   #8
Eternal Member
 
monte's Avatar

Cruisers Forum Supporter

Join Date: Jul 2011
Location: Australia
Boat: Lagoon 400
Posts: 3,650
Images: 1
Re: Brokers question

That's interesting. Maybe a different mindset to Australia, but we would generally visit whichever brokers have the home or vessel of interest with no hesitation about 'offending' another broker. In most cases this works in the buyers favour as the broker informs the seller that there is indeed competition in the marketplace that the broker has no control over. If trusting one broker to negotiate on your behalf with other brokers, I can't see it as being particularly financially viable. Buyers brokers generally split the commission with the selling broker, so would they be more keen to sell a yacht they have listed or sell one another broker has listed at half the commission? Unless the buyers broker is independent, in which case does that leave less wiggle room and incentive for the sellers broker to negotiate a deal?
Personally I would be visiting any brokers that had yachts of interest, arranging inspections and I wouldn't be coy about letting them know I was looking at another yacht with another broker later in the afternoon, and also that the purpose of your visit is to find and secure a vessel with cash 💰
__________________
monte is offline   Reply With Quote
Old 21-01-2016, 15:03   #9
Senior Cruiser
 
StuM's Avatar

Cruisers Forum Supporter

Join Date: Nov 2013
Location: Port Moresby,Papua New Guinea
Boat: FP Belize Maestro 43
Posts: 6,709
Re: Brokers question

Quote:
Originally Posted by monte View Post
That's interesting. Maybe a different mindset to Australia, but we would generally visit whichever brokers have the home or vessel of interest with no hesitation about 'offending' another broker.
Me too, I really don't get this idea of a buyers broker.

If I see a boat on the internet or one with a brokers sign on it at a marina, I contact that broker. If I want a boat or a house in an area, I visit as many local brokers as I can and take a look at what they have "on their books". Then I arrange with each broker to look at any that I am interested in.

Do you guys employ someone to buy your car for you as well?
__________________
StuM is offline   Reply With Quote
Old 21-01-2016, 15:20   #10
Registered User
 
Mark Stillwell's Avatar

Join Date: Jul 2013
Location: Missouri
Boat: Beneteau 393
Posts: 101
Re: Brokers question

As darylat8750 noted, the broker works for the seller, not the buyer.

I note you plan to look at boat until you find the one you want and "buy it right then."

BE SURE TO HAVE CONTINGENT ON SURVEY AND SATISFACTORY SEA TRIAL IN THE CONTRACT.

The survey will tell you the condition of the boat and costs of any required upgrades or things things that need to be fixed before you purchase. Depending on the age and size of the boat, you may also require a engine and rigging evaluation. All these are a buyers expense, but better to know these a walk away from an expensive repairs.
__________________
Mark Stillwell is offline   Reply With Quote
Old 21-01-2016, 15:35   #11
Moderator
 
a64pilot's Avatar

Cruisers Forum Supporter

Join Date: Oct 2013
Location: Albany Ga.
Boat: Island Packet 38
Posts: 17,032
Brokers question

Quote:
Originally Posted by StuM View Post
Me too, I really don't get this idea of a buyers broker.

If I see a boat on the internet or one with a brokers sign on it at a marina, I contact that broker. If I want a boat or a house in an area, I visit as many local brokers as I can and take a look at what they have "on their books". Then I arrange with each broker to look at any that I am interested in.

Do you guys employ someone to buy your car for you as well?

Of course not , nor my lawnmower, but then the boat cost a little more than either.
Maybe you can find the boat you want in a week or so, and maybe you can get the selling Brokers to respond.
My search took months and as I was out of State, but close my Broker set up appts of boats for me to see on weekends, set up the Escrow accounts, recommended a good Title search agency, recommended several good surveyors that I picked from etc.
Yes she got half of the sales commission, but that commission was going to be paid anyway, just if I didn't have a Broker, the sellers Broker was happy as they got it all.
So what do you see as a downside to having a buyers Broker?

On edit, if you don't have a buyers Broker, then the only "expert" is working for the seller, unless of course you think your an expert


Sent from my iPad Pro using Cruisers Sailing Forum
__________________
a64pilot is offline   Reply With Quote
Old 21-01-2016, 15:39   #12
Moderator
 
a64pilot's Avatar

Cruisers Forum Supporter

Join Date: Oct 2013
Location: Albany Ga.
Boat: Island Packet 38
Posts: 17,032
Re: Brokers question

Brokers have available to them assets we don't, like actual sales prices of comparable boats, in my case we found out exactly what the PO paid as he only had it for a year or so.
In my case the PO sort of stripped the boat, as in took everything that wasn't nailed down, but was in the Survey, like handheld, grill etc. my Broker got it all back, without one I guess it would have been Lawyer time.


Sent from my iPad Pro using Cruisers Sailing Forum
__________________
a64pilot is offline   Reply With Quote
Old 21-01-2016, 16:11   #13
Registered User
 
Lizzy Belle's Avatar

Join Date: Nov 2015
Location: Netherlands
Boat: Ohlson 29
Posts: 1,522
Re: Brokers question

Quote:
Originally Posted by StuM View Post
Me too, I really don't get this idea of a buyers broker.
Nor do I, but I'm Dutch and if dealing with a broker, it's usually cos they're the ones selling the boat we're interested in. So you could meet a number of brokers when looking at boats, tho a lot of boats are sold w/out a broker involved.

Having someone help you buy a boat isn't that usual here. At least not for the price range mere mortals usually shop in

There are several (former) world cruisers who now make a (part-time) living helping people look for their blue water cruisers -- but they're not brokers.
__________________
"Il faut être toujours ivre." - Charles Baudelaire
Dutch ♀ Liveaboard, sharing an Ohlson 29 with a feline.
Lizzy Belle is offline   Reply With Quote
Old 21-01-2016, 17:29   #14
Jd1
Registered User

Join Date: Aug 2011
Location: Victoria, BC
Boat: Catalina 36 MKII
Posts: 1,095
Re: Brokers question

Quote:
Originally Posted by StuM View Post
Do you guys employ someone to buy your car for you as well?
As a matter of fact I have been using a car broker for about 20 years now. I don't have to subject myself to the song and dance at the car dealership (uh, I have to discuss this offer with my manager .... let's go see the business manager to sell you crap), get better trade in prices for the old car and get a better price on the new car. On top of all that, I don't have to go to different car dealers if I want to buy a different brand car.
Oh, same warranty and the car comes from a local dealer who services it as if I had purchased it there.
Not a single down side I can see ...... and several thousand dollars left in my wallet as compared to buying from the dealer

Re the original question, I contacted all the selling brokers myself as I had no one person I could trust as a buyer broker.
__________________
Jd1 is offline   Reply With Quote
Old 22-01-2016, 05:21   #15
Registered User
 
MrReedatsea's Avatar

Join Date: Dec 2015
Location: Indiana
Boat: 1989 O'Day 322
Posts: 63
Re: Brokers question

The input is much appreciated. Thank you all.
__________________

__________________
MrReedatsea is offline   Reply With Quote
Reply

Thread Tools
Display Modes Rate This Thread
Rate This Thread:

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
A question for brokers. Jolly Roger General Sailing Forum 2 13-11-2015 09:27
Lousy Boat Brokers tardog Dollars & Cents 56 16-05-2008 16:33
Mediterranean brokers erewhonman Europe & Mediterranean 2 04-05-2008 12:28
Do US Brokers lie about whats in stock? MarkJ General Sailing Forum 39 13-01-2008 23:14
info on Florida cat brokers needed. Mark424 Multihull Sailboats 13 21-11-2007 09:14



Copyright 2002- Social Knowledge, LLC All Rights Reserved.

All times are GMT -7. The time now is 03:33.


Google+
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.
Social Knowledge Networks
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.

ShowCase vBulletin Plugins by Drive Thru Online, Inc.