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Old 10-03-2012, 09:32   #31
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Re: Using a Broker on YachtWorld

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One of the things I have wondered (but never done anything about!) is whether it is possible to create a Mini-me Search Engine (available on the Web for all to use). Rather than using Google (or whatever) to search entire Internet, instead use the Mini-me Search Engine to search only specific websites which have been manually pre-approved / nominated. For example, the websites Yachtworld.com, Bob's Brokers.com, Craigslist.com etc etc.

The results would probably be a bit rough and ready (Google / CF! style) but if searching for specific boat models (and maybe length?) would probably work well enough, just have to accept that it won't be much good in throwing up anything more specific, like only fin keelers located in Kansas .

Any thoughts on this?

+1 on Google custom search. Also the advanced search mode on YW is really good. You can define many parameters of your search and then have the system e-mail you with any new listings within those parameters as soon as they come up or as often as you want. It's a nice piece of software.
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Old 10-03-2012, 09:36   #32
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I don't know how they justify the 10%. Do they do more work to sell a $300k boat than a $30k boat ?!?
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Old 10-03-2012, 09:41   #33
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Re: Using a Broker on YachtWorld

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I don't know how they justify the 10%. Do they do more work to sell a $300k boat than a $30k boat ?!?
Sure do. They have to make up a lot more stuff on the 300k boat
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Old 10-03-2012, 09:48   #34
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Re: Using a Broker on YachtWorld

Well If ya don't want to use a broker, get a big hand full of cash and run up and down the dock yellin "got one for sale" !! That might work !! just a thought !!
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Old 10-03-2012, 11:59   #35
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Re: Using a Broker on YachtWorld

Honestly, if the broker is at the boat's marina and is showing it off, arranging everything around surveys and such plus all the paperwork I can see that they earn their money. Maybe not 10% as in the US but in Europe where you can typically get away with 6-8 %.

But if the broker is for some reason far away from the boat? E.g. the boat is stored at home or the owner is living aboard and cruising?

In that case the broker is just uploading the data to yachtworld and dispatches any email to the owner for him to the owner to arrange viewings and survey. Maybe doing some paperwork and escrow but probably not even that.

10% just because they have access to the otherwise gated yachtworld.com? No way, I'd rather go the route to become a broker, which just requires some paperwork where I live.
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Old 10-03-2012, 12:10   #36
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Re: Using a Broker on YachtWorld

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Sure do. They have to make up a lot more stuff on the 300k boat
You mean they write a few sentences more in yachtworld?

In pre-internet times you had to go through a broker if you wanted to buy or sell. He was doing the legwork and had the formal and informal connections to other brokers, sellers and buyers to give you an overview of the market.
During that time I think the comission was justified, especially with a lower average boat value. Lot's of work, special knowledge, good connections...

But today? They upload it to yachtworld and probably a few other internet sites and just wait...
They have much less work than before, the average boat transaction has multiplied in value and still they demand and get 10%...
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Old 10-03-2012, 12:10   #37
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Re: Using a Broker on YachtWorld

What does it cost to join yachtworld?
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Old 10-03-2012, 12:10   #38
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Re: Using a Broker on YachtWorld

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You mean they write a few sentences more in yachtworld?

In pre-internet times you had to go through a broker if you wanted to buy or sell. He was doing the legwork and had the formal and informal connections to other brokers, sellers and buyers to give you an overview of the market.
During that time I think the comission was justified, especially with a lower average boat value. Lot's of work, special knowledge, good connections...

But today? They upload it to yachtworld and probably a few other internet sites and just wait...
They have much less work than before, the average boat transaction has multiplied in value and still they demand and get 10%...
'make up', like in lie
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Old 10-03-2012, 12:27   #39
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Re: Using a Broker on YachtWorld

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But today? They upload it to yachtworld and probably a few other internet sites and just wait...

They have much less work than before, the average boat transaction has multiplied in value and still they demand and get 10%...
you / we were mainly paying for the Broker to have continuous (paid for) adverts in the Boating Magazines - as no other way to spread the word widely. Nowadays most Brokers don't bother or only include a limited stock list - really as just a way of advertising own website.

My take is that most of the punters who would once have contacted a Broker direct to seek out a boat and to get on a list now only do so via Google (or a Brokers website) if they see something they like, so Broker no longer has a "secret" list of potential buyers lined up. or nothing worth getting excited about.

Yachtworld is a big plus for Brokers, be interesting to know how much it costs them (I think the Brokers can also use Yachtworld software to host own listings in own Website - which is probably how Yachtworld got the market initially).

IMO 10% is a lot (far too much) for doing next to SFA, even when the job is done properly.
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Old 10-03-2012, 13:49   #40
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Re: Using a Broker on YachtWorld

Brokers deal with buyers, not tire kickers. I also doubt a broker will direct a buyer to a private seller.

I have not sold a boat worth the value of a house, but I have built and sold a few houses. One house I listed FSBO for quite a while with only tire kickers and a lot of wasted time. One day an agent asked if she could represent me, only requiring a one month contract. She sold the house for $30k more than I was asking and charged me $10k for her service. The house was sold in one week. Her and all her agent friends had the "real" buyers in their back pockets. Yacht brokers probably work much the same.

If I was selling an expensive boat I would probably start the FSBO route by building a cheap webpage. I would think anybody spending that kind of money for a boat would hit the google button at least once. Heck I am in the future market and started a google search. If no luck after a few months I would give the boat to a broker but negotiate the commission and length of contract.
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Old 10-03-2012, 14:04   #41
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Re: Using a Broker on YachtWorld

Sorta funny when ya think about it ! the folks selling are complaining cus it costs them 10% off the selling price ! Ive heard very few folks that are buying complain about how the money they spend is divided!! And another thing, I have looked at boats being sold by owners, and so far they were not really as shown in there adds and in way worse shape then they told me over the phone, most all the agents ive talked to at least when they heard how far we had to come to see the boat, told us the worse as well as the best !! saves me money and time !! just my 2 cents
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Old 10-03-2012, 17:49   #42
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Re: Using a Broker on YachtWorld

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Sorta funny when ya think about it ! the folks selling are complaining cus it costs them 10% off the selling price ! Ive heard very few folks that are buying complain about how the money they spend is divided!! And another thing, I have looked at boats being sold by owners, and so far they were not really as shown in there adds and in way worse shape then they told me over the phone, most all the agents ive talked to at least when they heard how far we had to come to see the boat, told us the worse as well as the best !! saves me money and time !! just my 2 cents
As a buyer you don't think about it. but in reality the buyer is the one who pays the bill at the end. Sellers simply inflate the asking by adding the comission on top of what they think the boat is worth.

With regard to owners vvs. sellers: If have only dealt with two honest owners, a number of honest brokers, but some of them were clueless, which is just as annoying.
I also had a number of plain liars who talked me into viewing a boat by saying it was top condition, showing only photos of the nice areas, hiding troublesome facts and just plain lying about any issues. Like saying the boat has recently been fully serviced when I can obviously see that the oil hasn't been changed for ages.

I guess you can have that in both worlds.
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Old 10-03-2012, 18:34   #43
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Re: Using a Broker on YachtWorld

As a seller you can ask whatever you wish !+ commision, when your a buyer you offer what you wish the commision has no bearing on what you pay ! thats the sellers problem !Most GOOD brokers handle most all the paperwork including registration and paper work ! If you have done this yourself maybe you don't need thier help! but it's there if you need it so there is some avantages to having a broker for both partys in a sale ! Just my 2 cents
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Old 10-03-2012, 20:20   #44
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Re: Using a Broker on YachtWorld

Sailboats for sale from Sailing Texas, Sailboat Classifieds, sailboat for sale by owner

I've bought two boats off of this site. I like the casual atmosphere, the layout, and the mix of cruising boats and pocket cruisers. The site is run by the widow of the guy that put it together. All she asks is for a voluntary donation once you sell your boat.

Let's not forget about CF as a resource.
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Old 10-03-2012, 21:01   #45
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Re: Using a Broker on YachtWorld

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Let's not forget about CF as a resource.
+1
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