I am new to the forum but have been a professional yacht broker in both power and sail (mainly sail) for over 32 years. A lot of the comments made here are correct and some are a little misleading.
A really good broker, someone who has been at it for years and knows the boats, models and differences, is an invaluable asset to a boat buyer who doesn't know what he wants. A good broker can sit and analyze what a buyers requirements are and direct them towards boats that fit those needs and budget
regardless if it's their listing or another brokers. If they are a broker that sells boats nationally/internationally they know who the good surveyors are and who to stay away from. How to get a boat moved by land, ship or by capt. They handle YOUR escrow money
and protect that for you if the survey
deems that you shouldn't buy it and you need it refunded.
We help with the closings, documentation
and sellers payoffs to make sure you get a clear title.
And a good broker, long after the ink drys, stays in touch helps you to get things done on the boat with the right contractor or is there to answer a question-all the time. A good broker has a lot of repeat business and it's not uncommon that 75% of his or her listing they sold before or multiple times. That should tell you something right there.
There is really no such thing as a "buyers broker" in yacht sales. That is a real estate term that was invented to get house buyers to sign a piece of paper basically committing yourself to use them to buy a house. There is no such thing in yacht sales.
The sellers pay all the commission. The brokers split that commission according to who is doing what. 50/50 is common. 60/40 is common.
Does your broker need to travel with you to make a deal work for you? Depends upon the boat, the listing broker, and the situation. I travel 50% of the time on co-broker deals and know most of the other brokers well enough that I feel comfortable having them do the survey
. Again depends upon the deal and if a client wants me to travel with him, I will. Keep in mind all brokers are straight commission and pay their own expenses.
It never hurts to have a relationship with someone you can rely on if they know the product and what you are buying
. To find a good broker,
Look online, look for testimonials from other satisfied clients but keep in mind with some "buyers" there is two sides to every story.