10%??? Seriously???

[EngineerRetired]

I was talking with a seller and he told me his broker is charging 10% for selling his boat. I told him he was nuts if he paid him.


25 years ago, maybe,,, it was justified because ads had to be printed in magazines and such, selling was a lot more work but today, the owner takes the photos and the broker slings them to the half dozen "boat for sale" sites and, that's about it. MAYBE they show the boat, but in today's market people are better informed on what they want and do not do a lot of tire kicking, at least not with a broker holding their hand.


I recently sold a farm, lot more money than a boat and, the realtors got 4% because I negotiated it. It's ludicrous that any broker, realtor, agent, whatever gets paid 10%. People need to put their thinking caps on!

[GreenWave]

everything in life is negotiable. EVERYTHING!

[EngineerRetired]

Originally Posted by GreenWave

everything in life is negotiable. EVERYTHING!

ABSOLUTELY!

[Pete7]

Originally Posted by EngineerRetired

I recently sold a farm, lot more money than a boat and, the realtors got 4% because I negotiated it. I

4% sheesh, I must be in the wrong job, we gave the estate agent 1% and I thought that was a lot. Mind you she sold the house in 3 weeks to the first serious buyers.

Brokers this side of the pond are short of stock, so seem to be offering deals at the moment around the 5% mark to attract potential vendors.

Pete

[JoeRobertJr]

If I, they buyer, bring a buyer's broker to the process, then each gets only 5%.

Of course, many people buy and sell without brokers. As a seller, you have to decide if the help is worth the fee.

[Allied39]

Yeah, however having sold my friends boat a year ago I was reminded just how painfull it can be dealing with the general public.

I was literally at the point of working out how to scrap a perfectly good boat rather than allow it to move on to some of the folks I was dealing with.

Thankfully the fellow who bought it was not the usual "take take take screw as much as possible take take A hole" that I had encountered, and we have become very good friends...but it was touch and go there for a while.

Yes 10% is stupid high which is why we chose not to pay it but go through the process of selling a boat and you may soften somewhat in your conclusion.

[Mike OReilly]

Sounds pretty standard to me. You can always try to negotiate, but 10% has been the standard for quite a while. Real estate is a different standard.


Not saying it's right or wrong. But it has been the standard for as long as I've been playing with boats (decades now).

[EngineerRetired]

Originally Posted by Allied39

Yes 10% is stupid high which is why we chose not to pay it but go through the process of selling a boat and you may soften somewhat in your conclusion.

I am too tight, I would not pay Jesus 10% to perform a miracle.

[Dockhead]

Originally Posted by Mike OReilly

Sounds pretty standard to me. You can always try to negotiate, but 10% has been the standard for quite a while. Real estate is a different standard.

Not saying it's right or wrong. But it has been the standard for as long as I've been playing with boats (decades now).

For this very reason, a dear friend of mine, who has been on my boat for the last month, considers paying €250 000 (!) to ship his motor yacht from SE Asia to Florida, rather than selling and buying a new one. It works out cheaper than the brokerage commission.



I told him I would move it on its own bottom via Alaska for €1, but then he calculated the fuel cost and amortization of the twin MTU V16's, and proved that this doesn't help him.

[Allied39]

Originally Posted by EngineerRetired

I am too tight, I would not pay Jesus 10% to perform a miracle.

Yeah, I get it, but I dare say Jesus would be sorely tested by the likes of which are encountered when selling a boat.

Read some threads on CF about folks asking how to go about negotiating.
Pretty much the advice is lowball lowball lowball.

Almost never do you see advice that might pertain to paying a fair price for a good product. I get it, basic human nature.

Besides, I think Jesus gets the 10% without the miracles.

[Mike OReilly]

Originally Posted by Dockhead

...I told him I would move it on its own bottom via Alaska for €1, but then he calculated the fuel cost and amortization of the twin MTU V16's, and proved that this doesn't help him.

But a heck of a lot more fun ... at least for you .

[rabbi]

If you don't mind dealing with all the wanna-be buyers then the only thing you need si exposure. The most relevant website for that is yachtworld, which only brokers have access to.

Cheapest solution is to ask brokers if they do a listing for a flat fee. Very few do, so you have to ask a lot until you find one.

[EngineerRetired]

I'm looking to buy in the immediate future and I'm thinking of telling the broker I want half the commission applied to the price. 10% is plain nuts.


If one won't take the deal, another one will. Human nature is what it is. (A little greedy and eating the other dogs bone has always been a good time.)

[Mike OReilly]

Originally Posted by EngineerRetired

I'm looking to buy in the immediate future and I'm thinking of telling the broker I want half the commission applied to the price. 10% is plain nuts.

If one won't take the deal, another one will. Human nature is what it is. (A little greedy and eating the other dogs bone has always been a good time.)

Tell us how it goes.

[S/V Illusion]

Originally Posted by EngineerRetired

I'm looking to buy in the immediate future and I'm thinking of telling the broker I want half the commission applied to the price. 10% is plain nuts.


If one won't take the deal, another one will. Human nature is what it is. (A little greedy and eating the other dogs bone has always been a good time.)

Kiss any chance away of selling it to anyone except his clients.