Trust Yacht Brokers?

[Pelagic]

Originally Posted by tcul

Someone asked if they are a buyers or seller brokers. They are seller's brokers. They have a list of boats from sellers and that is what they show you. In Hawaii, I think they are all like that.

I find it easier to explain if you think of a yacht broker as if they were a marriage broker.

1. They only have basic preconceived ideas of what is best for you and will turn you on
2. They don’t know the potential brides intimately... only by reputation alone.
3. Their vested interest is limited to the amount of fee they will receive… and that comes from the Seller.

Bottom line…. You have to hunt, track, capture and skin your own…
if it is to be truly yours… that takes patience and commitment

[captainbri]

Trust someone that makes more when you spend more... NOT A CHANCE.
All sales agents work for the sellers.

[David_Old_Jersey]

I think the dealing with Brokers thing does sometimes get over thought - once you get a handle on how a Broker works, both in theory and in practice (spot the self interest - everyone has some!) then either the Broker plays ball (with you) in a way you can work with (even if less than ideal).......or you move on.

Like many other circumstances, a deal is often done in spite of the folks involved (including "professionals"!) and not because of them.

[Factor]

Originally Posted by charliehows

w its a 20% saving right there - something like that anyway.

20% - please can you let me who charges that, I need to apply for a job with them.

[Kenomac]

Originally Posted by tcul

It's not a matter of positive or negative attitude. I'd say it's more about having a REALISTIC attitude. If they think they can steer you away from a couple of cheaper boats, cars, houses, RVs, you show an interest in, and get you to buy something for $15k rather than $4k, they are likely to do it. They will make more money for themselves and THEIR client. That's not negative or positive, it's reality. It just happened.

How is a broker in CA going to help me find a boat in HI? Are they going to fly to the islands to look at it with me?

I know there are buyer's brokers in Real Estate who nothing but represent buyers. I don't know that the yacht market is big enough for that.

You come on CF and ask for advice, some of us offer you time-proven, well thought out advice on working with a broker.... and how do you respond? By offering thanks? No, you just want to argue and complain with a sarcastic tone. Good luck finding your $4000 thirty foot boat.

[zboss]

Originally Posted by tcul

Thanks all for the replies.

Forgot to ad. When the broker informed me that an offer had been made on the cascade, it hadn't been accepted yet, I immediately informed him I was willing to put in an offer for $500 higher. He declined.

So he screwed the seller out of $500.

Did you ever watch this freakonomics? Its very appropriate.

Freakonomics Asks: Does your real estate agent have your best interest in mind? - YouTube

[Fishspearit]

Anyone considering becoming a yachtbroker should read this thread, it's a great example of what you will deal with. List a $4000 boat, knowing once your commission is split with the office you may end up with $200 after creating the listing brochure, showing it multiple times, your gas driving back and forth, working the deal, answering emails on Saturday night and phone calls on Sunday morning, going on the survey and seatrial, renegotiations, etc. Then some guy tries to get the selling price out of you by saying he will offer $500 more. You stick to your principles and your ethics, and say no, you can't do that. The guy then comes on cruisersforum and rants about what a bad job you're doing. Everyone else piles on and discusses how brokers are all self-interested and corrupt.

[charliehows]

Originally Posted by Factor

20% - please can you let me who charges that, I need to apply for a job with them.

i said i quite liked most brokers i've met but not enough to start giving free career advice, dude.

[Suijin]

There are as many different brokers as there are different people who are brokers. They all have different knowledge, insights, motivations, and personalities.

A "bad" broker can be bad for a number of reasons. They can not listen to requirements at all and steer you to boats that are not suitable. They can listen to your requirements and steer you to boats that are still not suitable because they don't really understand what you really want. And they may steer you to what they think you really should want because of their own preferences and prejudices. And on and on and on.

A good broker can be an amazing resource. If you find one who is deeply experienced with the type of boat that you want and how you intend to use it, they can be a tremendous fount of invaluable knowledge. I have learned more about boats from my current broker than I thought imaginable and in retrospect, going through the buying process without him would almost certainly result in a totally different and probably much less satisfying outcome.

Select a buyer's broker by getting referrals, doing your research, and interviewing those that bubble up in that process. Talk to five or six of them and you'll very quickly start to zero in on who can be the greatest help given your specific goals.

[scotty c-m]

Working with an agent/broker is the same with boats, cars, houses. Some people are more honest than others, some more willing to work with you, etc. I get a feel for the broker that I work with and if they are a good fit, I develop a relationship. If not, I either move on, or deal with them more carefully. A good broker can really help you find a boat that is good for you. They also realize that the relationship lasts for years of referrals and repeat business. I recently bought a boat. We were looking for well over a year. The broker(s) took a lot of time with us, and at this point I regard them as friends. My brother recently also bought a boat from them. A good broker knows that finding a good fit benefits both parties. By the way, in Alameda check out Rodger and Dinah Goodsell at Farrallone Yachts. Tell them I sent you!

[SV Maclas]

There are good ones and bad ones ... But from our experience, it's easier to buy and sell a boat without a broker than you would think. We have purchased our sailboats without brokers and we are currently selling our boat now without a broker. Our current sailboat, we imported from the US to Canada, without using a broker. With a little research we found out that there were a few steps to buying a boat from the US but the process was not complicated. We didn't run into any problems. I would say, if you are looking to save a few pennies and you don't mind taking the time to scour ads, try buying or selling without a broker first.

[JPA Cate]

When we wanted our new boat (after 18 yrs. living aboard the other, and on the order of 75,000 cruising miles), we wrote down what we were looking for in a boat. Quite specific in fact, it came to 22 items IIRC. We had lots of different reactions from brokers we spoke to. One told us to leave the office, such a boat did not exist. He actually did us a favor, for we couldn't work with someone who felt that way; he'd waste both our time. The best one said, he understood what we wanted, did not have anything just then that fit, and asked if we had time to look at some boats he was pretty sure we wouldn't want, but wanted to hear us tell him why. We spent a very interesting morning with him! He followed up with us for about 18 months, till we found this boat through friends. If we had to sell this boat, we'd likely give him a go at selling it. He is a former circumnavigator. Such a one has usually learned how to listen to people.

Yes, to the OP. We had brokers try to show us boats up to 50% more than we told them we would pay. You have to put the kibosh on that, inform them you just want to see vessels in your price range, as Boatman said. If they persist in trying to shift you up, go elsewhere.

Sorry you missed the one you thought you wanted, but it's still a buyers' market; likely you'll find something you like.