The Sellers Broker (May I say?) Sucks

[SV Trillium]

Originally Posted by BlueH2Obound

Actually I look at it a little differently. Since the Seller pays the commission out of the total proceeds of the sale, and the listing price when listing with a broker is generally bumped 10% higher because the Seller knows he will be paying a 10% commission to the broker, and the Buyer pays 10% more for the boat than he probably would have paid for the boat from a private seller . . . then the BUYER really pays the commission because he paid 10% more for the boat than he would have had he purchased from a private seller . . .

Certain a fair perspective, my experience working with brokers and as a licensed agent is that a good broker will make sure you don’t pay above market rate. If you eliminate brokers, you eliminate a lot of boats for sale.

As with all things related to boats - preference

[George_SD]

I had several of those with cars, houses and boats. Liked them, but couldn't close the deal because of seller, broker, agent, timing, some BS, etc. Just move on.

What I find the most surprising about the boats (way more so than about cars and probably on par with owning a real estate property) - there is always something you didn't account for, it wasn't in the survey, it just developed right after the sale, etc. Always some unexpected items come up. So try to buy as good of a boat as you can, it will reduce a significant amount of headaches, but not all of it. And be prepared to find out that things were missed or not accounted for during the sale process and they will require work and expenses you didn't anticipate.

[Heathenly Twins]

Cutting a sea-trial short because his son needs paper? HUGE red flag for me. I'd go over the boat personally with a fine-toothed comb. There's definitely something fishy here and you should find out what. At the very least I'd demand that the cutless bearing be changed to see if that is the culprit. My cutless bearing has several millimeters of play and doesn't make a racket.

[Shrew]

Originally Posted by George_SD

What I find the most surprising about the boats (way more so than about cars and probably on par with owning a real estate property) - there is always something you didn't account for, it wasn't in the survey, it just developed right after the sale, etc. Always some unexpected items come up. So try to buy as good of a boat as you can, it will reduce a significant amount of headaches, but not all of it. And be prepared to find out that things were missed or not accounted for during the sale process and they will require work and expenses you didn't anticipate.

I agree. IMHO no such thing as a 'turn-key' used boat. Just varying degrees of projects. We estimate it takes approximately 3 years (we have seasons because it freezes hard where the boat lives) to get a used boat to where WE want it.

'Turn-key' to us is being able to USE the boat and critical systems and be able to live on it during and in between various system upgrades.

[newhaul]

Originally Posted by Shrew

I agree. IMHO no such thing as a 'turn-key' used boat. Just varying degrees of projects. We estimate it takes approximately 3 years (we have seasons because it freezes hard where the boat lives) to get a used boat to where WE want it.

'Turn-key' to us is being able to USE the boat and critical systems and be able to live on it during and in between various system upgrades.

In other words cruising
Definition of cruising is " working on your boat in exotic locations"

[Riggerman]

Brokers have only one thing in mind. THEIR COMMISION. They will lie, cheat and steal in order to get. Good for the seller, not so much for the buyer. I now always buy without a broker. Once I asked a question about Irwin's one guy answered with out telling Me he was a broker.. When I bought it 6 months later, He send Me a notice, that because he answered My question he was My broker, thus wanted HIS commission. Told him to take a flying leap. And send him a letter from My lawyer.

[Defarm]

Or, maybe the broker has another buyer that is willing to make it worthwhile if he can get the boat cheaper (ie. Make up the reduced commission plus extra and maybe is a friend). If you walk away and the boat closes shortly thereafter, check with your new broker for the selling price. If it is indeed lower, let the seller know of your efforts and suspicions. Whether lazy, incompetent or shady, some folks need other occupations. Delayed sales cost the seller money on insurance, storage, note payments, etc. Plus, the length of time on the market can taint the boat as damaged goods or over priced to prospective buyers.

[SV Trillium]

Originally Posted by Riggerman

Brokers have only one thing in mind. THEIR COMMISION. They will lie, cheat and steal in order to get. Good for the seller, not so much for the buyer.

That's a very impolite generalization. Perhaps you've had some bad experiences. Like all professions, there are no doubt good and bad, honest or less so, etc.

I worked as a broker agent and the primary concern I had in my mind was ensuring the client got the boat that was right for them. I have friends that are brokers - one in particular has been doing it so long and has so much repeat business/referrals he can barely keep up; if he were dishonest or disingenuous that would not be the case.

The best teacher I ever had said, "all generalizations stink - including this one."

Perhaps you will think longer before maligning the character of entire profession.

[OneBoatman]

Concerning your most favored boat. I hope you have a good deal of experience with boats. I been sailing nearly 50 yrs and on my own hull 30 yrs. I would not sign up for this particular boat because these are just the things you know about, there is no doubt quite a bit more. This will be the case even with a new boat, as commissioning and execution is everything. Any hold fee, down payment, or "good faith" money should be placed subject to time limits to close. A reputable broker should hold your check until close, not take your money and hold you hostage. If you still must have this boat, assume its due the broker sitting on his hands, contact the owner to find out when his listing contract expires and then do the deal directly with the owner.

[DebCantrell]

Your broker 'sucks'. Dump the broker and go directly to the seller. You need to confirm once and for all whether or not the seller a) actually exists, and b) whether the seller wants to sell. This should not be awkward at all. You like the boat, recognize it needs some work and want to get at it. Good luck.

[Shrew]

Originally Posted by DebCantrell

Your broker 'sucks'. Dump the broker and go directly to the seller. You need to confirm once and for all whether or not the seller a) actually exists, and b) whether the seller wants to sell. This should not be awkward at all. You like the boat, recognize it needs some work and want to get at it. Good luck.

Check your contract. if you've signed a contract, your broker is legally due his portion of the commission whether he's involved or not.

Also be prepared that the listing broker may not acknowledge you directly if he's already started working with your broker.

If you want to properly and legally dissolve a contract with a broker it should be done in writing. I send the notification certified mail, which requires a signature acknowledging receipt of the notification.

[lo2jones]

Originally Posted by SV Trillium

Those all sound like warning signs to me.

With an older.... There is something romantic about a unique boat - the problem you may find is that “custom” often means you have to have parts fabricated when doing repairs. I’ve lived through this and would never do it again.

Lots of fish in the ocean and lots of used boats for sale. Good luck - enjoy the ride

Listen to this guy: “One offs” seldom have trial and error behind them, and come with lots of small and not so small problems to work out.

[newhaul]

He bought an irwin

[lo2jones]

Originally Posted by geoleo

Always go to seller- brokers always lie or deflect. Brokers dont know or care about the faults of the boat and will conceal them.

“Always”?? Wow, there are some of us who take our fiduciary responsibilities very seriously. An informed buyer produces the best sustainable outcome.

[SuW]

Strange behaviour for a broker. They make money by moving product. It's unusual for them to be this cagey.

Perhaps there is some other impediment to the deal? Perhaps the seller hasn't got ownership documentation or there is a lien on the boat? Is it an estate sale?