Buyers Broker

[EggHrbrGuy]

If I use a broker to assist in buying a boat, do the seller's broker and buyer's broker split the commission?

[gaucho]

That's the way it should be. It doesn't hurt that you clarify that with the would be buyer's broker before hand, but it is the way it normally works.

I just used a buyer's broker in Annapolis, MD this way. I contacted him since I live abroad, and he helped me taking a look at a boat I had seen in Yachtworld I liked. It's important when using a buyer's broker to NOT contact a Yachtworld ad but through your buying broker; brokers don't like that you contact them and then introduce a buyer's broker. I kind of understand the logic. Anyhow, if you are planning on using a buyer's broker, you should only contact possible listing through him.

My buying broker did a great job helping me out through the process (first time for me). Add to that I had a "local" player in the whole thing, me being foreign. But after the deal fell through on the original boat I flew in to see, he was most helpful taking me around to look at several other boats a couple of days. He was proactive in not only "opening the boats", but helping me move stuff around to check chainplates, bilges, engines, panels, he had a moisture meter with him, and he made remarks out of being an experienced sailor.

I think I was lucky that I had a good broker. Still, it didn't cost me a cent

BTW if anyone needs a broker in Annapolis, his name is Keith Mayes and works @ Annapolis Yacht Sales.

[EggHrbrGuy]

Gaucho - thanks for your thoughtful reply. A very helpful perspective.

[WoodFamSkipper]

Scenario:
If you go boat buying without a BuyersBroker and only deal direct wi the listing brokers, can you get the benefit of half the commission in discount on purchase price?
I recently put in an offer on a boat that the ListerBroker let me on to view, and he filled out his name as BuyerBroker on the offer too

Is this a cheeky attempt at Double commission?
A legal necessity?
Would the seller being paying 10% regardless?
Or do sellers get to only pay 5% when there's no buyer broker?

I've never sold a boat - but I'd not look forward to double whammy for a door opening

[Jd1]

The listing broker always gets whatever commission is set out in the listing contract (usually 10%). It is up to him if he wants to split it with a buyer broker (usually they do since it's a quick sale)