conflict of interest?

[swami maximus]

so we have been shopping around for the last few years fro the right boat to sing to us. we have been very vigilent with our research and locating potentials. upon reccomendation from a good friend, we have our own broker to represent us in the deal. we secured his help a few months ago as we are now ready to buy. problem is, upon researching and finding the boat we would like, through a private party sale listing (not brokered), our broker is now representing the seller as well. we just saw it listed on yahctworld by our broker. is this a conflict of interest? it concerns me a bit.

[delmarrey]

I don't know the whole story but it sounds like the bloke wants a piece of the action.

Did you tell him about the boat you found??

[swami maximus]

yes, thats why he's now lisiting it... he was our broker... we told him we like this boat... he contacts the owner... and now lists the boat as the selling broker.

[delmarrey]

He must have been a used car salesman prior to boats. Did he up the anny?

Soooo, what have you learned from this?

[swami maximus]

not quite sure... maybe, do it ones self???? find better brokers.... uh?

[delmarrey]

Maybe he felt cheated when you went out and found one on your own. And then came back and told him.

The question is when you went to him and told him about the boat, were you complaining or bragging. Either way, one should keep stuff to them selves when going over another ones head.

I told a customer once to "shove it"! He lined me up to do a job and when I had all the tooling ready he said he found someone to do it cheaper. I said fine. Later he came back asking if I'd still do it and that the other guy did a lousy job.

“You are free to choose the circumstances, but not free to choose the consequences.”

[rebel heart]

Brokers split their commissions when there's one person representing the buyer and another the seller. He basically just got double the sale value by cutting out the other broker, if that makes any sense.

It's still in his best interests to sell it to you, and if you can get the right boat for the right price, even with a sleeze bag salesman, it's still worth doing.

I'd play hardball with him though if you're going to keep working with him. Make sure you know clear as day why he did it, and that you think it's total bs. Tell him that you expect him to get the price lower than it would have been otherwise since he's going to make so much more commission.

The guy had no problem making your life rough, I wouldn't have a hard time returning the favor.

[mudnut]

DROP HIM,I don't mean bash the crap out of him,although it sounds kinda needed.There will be other boats and now ya know he is underhanded try doing it all on ya own.Private deals are just that!No middle man to fork out money to from a buyer or seller and allways would give you room to negotiate a deal.IMHO the only extra cost in a deal should be a surveyor.Mudnut.

[Pura Vida]

In general terms the broker always works for the seller and is paid by the seller. If you have a contract with him to help you negotiate a deal he does not represent, and have been paying him to do the work, then that is a different story. But If some nice customer asked a broker to help them buy an unlisted boat, he would have get it listed, otherwise how would he get paid? Did you pay him a fee beyond the amount of commission he is making on the sale?

[AnchorageGuy]

It is not unusual for a broker to go to a private party and let them know he has someone interested in their boat and ask for a listing. You as a buyer are not affected by the commissions since the seller pays and not the buyer. The broker will take your deposit and make sure the seller does not run off with your money. He will present a contract to protect both buyer and seller. He will do the required paperwork to transfer ownership free and clear. He will see to it that all survey, haul out and other costs are involved are paid accordingly and steer the entire process to an amicable conclusion. There is no problem here or underhanded behavior. It is a normal process since you came to this broker to find you a boat. If you want to buy one on your own then you do not nor should not communicate this to the broker and then there are no misunderstandings.

[Alan Wheeler]

One other angle to look at this though. Firstly, has the price changed?? You can still offer the same price you would of. So it's no skin off your nose.
Secondly, going through the broker means you can have someone haggle for you over conditions of sale. Of course, you maybe a good negotiator and it doesn't matter. For me, I like being removed from the haggle part. I am not godd at it as I am too soft. So in some respects, the broker being involved could be good.

[swami maximus]

we have not paid him any sort of retainer. he was simply there for us to use for negotiating, and paperwork transfers. we basically have done all the leg work finding the boat we want. he has been generally very nice and helpful to the extent that we have asked him to be. this last move though seemed out of character in my eyes, and somewhat dodgey.

[Pura Vida]

Chuck did a good job of outlining what a Broker actually does for his money. Where you really have to watch the brokers is when you go to sell a boat. There are a few who do nothing more than own the listing and make no effort to sell the boat. That keeps the working brokers, like the one you seem to have, from showing your boat. I actually had a broker just drop me off at another broker's office because she did not want to waste her time showing a boat where she was going to get a partial commission. What are you buying?

[AnchorageGuy]

swami, the broker has done nothing "dodgey" and perhaps out of character in your eyes but quite common and up front in the world of brokering boats. He is trying to make a living and probably has time and effort invested in finding you a boat at this point. If you have a problem with that then simply pursue any purchase yourself but with this boat the broker has the listing and you will need to deal through him.

[capt lar]

I used a broker as a buyer's broker. I found our present boat and told my broker. I bought the boat and he got the commission. To me it was more than fair. He spent time working for us. If you used up the guy's time and then bought a boat direct - he wasted his time. In my opinion, if you hire a buyer's broker - he gets a commission even if you find the boat. As to his picking up the listing - what do you care. If you buy the boat, he gets a commission as he well should. The seller pays it. If you don't buy the boat, he gets to sell it to someone else. Where's the problem ?