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Old 14-02-2015, 17:15   #31
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Re: Catamaran Buyer’s Broker

Quote:
Originally Posted by Sand crab View Post
Heath you can't act as a buyers broker.
Not entirely true.

In effect you can act as your own buyer's broker and negotiate with the listing broker to lower his/her commission to make a deal since there is no other broker involved.

Quote:
If you don't have one then the seller will just pay the entire commission to his broker.
Not necessarily, and this is key. If you don't have your own broker, the listing broker doesn't have to share the commission 50/50 and can reduce the commission % such that the seller still gets his/her price as if two brokers were involved. The listing broker can reduce their commission to whatever they want to make a sale. In effect, they have the full commission to play with to make a sale with a buyer w/o a second broker. With another broker involved, they have only 50% of the commission to play with.

Quote:
But an experienced cat broker can steer you in the right direction and give you comps on sold boats for guidance on your offer. They will look for boats, and some have a knowledge about a particular cat that is either a good or bad deal.
Very true, and an advantage to uninformed buyers. You can do all that other stuff yourself to arrive at a reasonable offer. If you are not an informed buyer who has done sufficient homework and who knows what to look for, a broker who is getting paid by the seller can still be valuable to you because they don't get paid unless you buy and they have to earn your trust. The more informed you are, the more trust they have to earn.

Bottom line: unless a broker is entirely separated from the seller by being separated from the commission, he/she works for the seller. Repeat after me: The broker works for the seller. Such a broker not paid directly by you may still be valuable to you and may offer objective input, but you have to weigh the competing interests to judge the worth of this advice. He/she won't get paid unless there is a sale.

Dave
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Old 14-02-2015, 22:31   #32
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Re: Catamaran Buyer’s Broker

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Originally Posted by Sand crab View Post
Welcome to CF. You don't say where you are from but I think it is wise to use a broker from your country. That way your deposit is held there and if there is a problem then you can deal with them in a language that you speak and read.

However the big guys like the Multihull Company, Catamaran Company, Denison and others are international and do worldwide sales all the time. Multi Co will act as your buyers broker.
How to Buy Your Multihull
I'm sure the others will as well.

Thank you for the advise. Multihull company has been pointed out to me before, I will contact them.
I am Dutch so I will contact their UK branch.


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Old 14-02-2015, 22:48   #33
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Re: Catamaran Buyer’s Broker

For the life of me I can't see why you need a buyers broker it must be a Yankee thing to do
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