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Old 24-02-2013, 00:17   #1
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Trust Yacht Brokers?

I am looking to buy a boat.

I found a Cascade 29 that others on this board thought was a really good deal. Broker steered me away saying it needed too much work...etc.

Also a 62 Cal 30. Needs to much work, blah blah blah.

I then get steered to a boat that is 10k more in price.

Then, less than a week later, both of the cheaper boats are sold!!

My guess is they already had prospects in the wings for the cheaper boats, and thought I had more $$ and they could talk me into buying the $15k boat.

I could be wrong. Just awful suspicious that two boats they bad mouthed are then sold less than a week later.

I think the best way to buy a boat is to make friends at the marinas and steer clear of the brokers.
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Old 24-02-2013, 00:43   #2
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Re: Trust Yacht Brokers?

Are you talking about a buyer's broker or seller's broker? The seller's broker is not someone who represents you as a buyer.

Listen to what they have to say, but form your own opinion, and then when the time is right, get a surveyor you trust. In terms of the brokerage arrangement, what I trust is the contract.
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Old 24-02-2013, 02:05   #3
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Re: Trust Yacht Brokers?

It's like anything else you buy. You never quite know whether it was a good deal until you have lived with the thing.

Should you trust yacht brokers? Well, should you trust insurance salesmen, car salesmen, real estate agents, or anyone else trying to sell you something?

Use your own judgement and get help from an independent expert. It minimises the risk, but you might still get hurt with your choice. That's life.

FWIW - I would never buy a boat for a good deal. IMHO, you should look for the boat that really ticks the boxes, makes you want to sail, makes you want to look over your shoulder as you are walking away from her. For me the instrument needs to match the song you want to play. That way you'll have a longstanding relationship, which in the end is always the cheapest.


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Old 24-02-2013, 04:24   #4
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Re: Trust Yacht Brokers?

Quote:
Originally Posted by tcul View Post
My guess is they already had prospects in the wings for the cheaper boats, and thought I had more $$ and they could talk me into buying the $15k boat.

I could be wrong. Just awful suspicious that two boats they bad mouthed are then sold less than a week later.

I think the best way to buy a boat is to make friends at the marinas and steer clear of the brokers.
I think you pretty much nailed it . But to be fair to the Broker!, introducing a vaguely possible (you!) into a deal at a late stage has a good chance of ruining a deal - if only by confusing the issue (and Vendor?!)......bird in the hand etc. Of course done primarily in the interests of the broker!, but nonetheless not entirely to the harm of the Vendor - even if likely not his choice to ignore you!

I wouldn't say ignore all Brokers, just be aware that anyone making money from selling you stuff is not your BFF and treat them accordingly.....a concept that some do appear to struggle with .
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Old 24-02-2013, 05:50   #5
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Re: Trust Yacht Brokers?

Quote:
Originally Posted by tcul View Post
I am looking to buy a boat.

I found a Cascade 29 that others on this board thought was a really good deal. Broker steered me away saying it needed too much work...etc.

Also a 62 Cal 30. Needs to much work, blah blah blah.

I then get steered to a boat that is 10k more in price.

Then, less than a week later, both of the cheaper boats are sold!!

My guess is they already had prospects in the wings for the cheaper boats, and thought I had more $$ and they could talk me into buying the $15k boat.

I could be wrong. Just awful suspicious that two boats they bad mouthed are then sold less than a week later.

I think the best way to buy a boat is to make friends at the marinas and steer clear of the brokers.
Ever conider that the buyers of those boats didn't have a broker to advise them aganist it?
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Old 24-02-2013, 06:15   #6
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pirate Re: Trust Yacht Brokers?

Hey... its like most/all jobs there's a fair amount of self interest involved... its how he makes his living so naturally he'll try and push a pricer boat.. more commision..
How you react gives him the lead as to how to treat you..
commited to taking it further.. things happen
non-commital not sure.. he'll lead you up the path..
The other boats went to folk more commited than you
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Old 24-02-2013, 06:27   #7
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Re: Trust Yacht Brokers?

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Originally Posted by Don Lucas View Post
Ever conider that the buyers of those boats didn't have a broker to advise them aganist it?
Don, you took the words right from my keyboard.

I've had great luck over the years with two excellent yacht brokers who worked on my behalf. Part of their job was to steer me away from boats that needed costly repairs.
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Old 24-02-2013, 11:38   #8
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Re: Trust Yacht Brokers?

My experience is three bad ones and one great one. At least now I know what to look for...if they have a bad haircut, run!
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Old 24-02-2013, 11:58   #9
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Re: Trust Yacht Brokers?

Having sold real estate in my very very distant past I know that when a person comes into the office seeking advice about real estate it was always very tempting to try to sell them something that was one of my own listings and steer them clear of anything they found on thier own. Why? Because I did not have to share a commission with another realtor if I sold them my listing.
A broker will always lean toward selling you something more expensive (bigger commission) or one of their own listings (bigger percentage of a commission). They work to make a profit.
Knowing that might make you more skeptical of brokers but you must understand that they have to make a living too just like everyone else with a job. If you hire a broker to look for a boat for you then he works for you and you can move on to someone else if they are not doing what they expect. Very frustrating is the fact that someone will want me to find a place/boat for them then I show them a bunch then they move on to some other broker and I hear later that they bought a boat that I showed them. Bummer. The other thing that is frustrating is that someone would list a home with me and I would advise them to lower their asking price, it wouldn't sell after I did a bunch of open houses and showed it. Then they would list with another agent and lower their price and it would sell.
If I were a broker and someone who is very new to sailing, I would never advise them to buy a project boat. They will remember who gave that advice when they are angry because there is too much work and not enough sailing. Then my reputation would suffer.
Good luck in your search.
Here on the forum none of us gets a commission so will provide as much honest information as is in our humble opinions so keep that in mind.
kind regards,
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Old 24-02-2013, 12:00   #10
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Re: Trust Yacht Brokers?

Yes you should trust your broker, along with you used car salesman and politicians.
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Old 24-02-2013, 13:52   #11
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Re: Trust Yacht Brokers?

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.
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Old 24-02-2013, 13:58   #12
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Re: Trust Yacht Brokers?

BTW, I was willing to counter the offer after all the positive feedback I got on this board about the boat and deal. $4k for a Cascade 29 with newer rigging...etc.
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Old 24-02-2013, 14:02   #13
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Re: Trust Yacht Brokers?

Maybe he thought he was doing the right thing for you. Not all buyers are the same.
Some people buy a boat to cruise. Some to race. Some to daysail. Some to drink on, and some to work on.
I knew a guy in the boatyard where I bought my boat who had been working on his boat every weekend for 20 years and he was about 1/2 done. I'm thinking that it was more about getting away from his wife than about sailing.
Those boats might have fit another buyer much better than you.
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Old 24-02-2013, 14:07   #14
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Re: Trust Yacht Brokers?

John (NJ),

I didn't come in at the last minute. I had seen the boat a week earlier. After posting about the boat and deal on this board, everyone seemed to think it was a good boat and screaming deal. So I asked to see it again. Three days later, I'm told an offer had been put in. I offer to up it $500, but they decline. Screwing the seller out of 500.
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Old 24-02-2013, 14:11   #15
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Re: Trust Yacht Brokers?

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.
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