Brokers Vs Owner FSBO

[Dulcesuenos]

So we are moving towards our next vessel and this brought up some interesting thoughts. I would so much love to find our next boat for sale by owner, but it appears most are listed by brokers. Some huge differences that are driving me nuts are;

Owners will start and run Electronics, fridge, Ac, engines etc so you can hear and listen to them and get a feel for them without having to put down 10%, sign contracts and pay for a Survey seatrial.

Had a broker in Key West who takes the worst pics ever, bought a boat from her and the Ad or listing never showed Wind gen, solar panels, or Arch, or roller furling main,etc, great for us, did the seller a huge disservice.
This same broker also said the helm station was loose because they were meant to "Break away" in case you fell against it, I had to pick up my jaw off the floor.

Brokers Ads how honest are they? they could say new engine, new rigging, new paint, etc etc but they have a huge disclaimer at the bottom of each ad saying it could also all be BS. Buying from an owner unless the owner is dumb, they wouldnt put in the ad that something was replaced or done if they couldnt show a receipt and or prove it visualy.

I have had brokers lie in the past in Fl, , made an offer on a cat listed at 119, offered 99k, they countered at 117 , I offered 99k, I came up to 109k they then countered at 112, I said I couldnt so walked bought a different less expensive boat. The owner found out who I was and called me and asked why i was backing out, I explained I couldnt go any higher than 109, he said they never told him about any offer over 99k. They were playing games and the seller offered me the boat for 99k, he said he would have taken it but they assured him that I would come up. He ended up firing them and sold the boat to somevery happy people at 85k.

I have some great experiences with brokers but they still can be frustrating. They want their buywers to be happy, but they want to earn a paycheck at the same time.

Feel free to add your own comments I am sure there are some pretty good Broker Vs Owner stories

[avb3]

My experience with brokers is that they don't follow-up, don't know their product, and some are shall we say, economical with the truth. I've tried them, and prefer to deal private.

[Julie Mor]

Originally Posted by avb3

...some are shall we say, economical with the truth.

Like this?

Broker Description: "Teak decks in good condition!"

[avb3]

Originally Posted by Julie Mor

Like this?

Broker Description: "Teak decks in good condition!"

Phftttt.... that'll buff out.

I don't know why one would describe something obviously needing work as in "good condition". The credibility goes out of the door the minute someone sees the issue.

Better to say nothing, or be honest, and say deck needs work.

[Cheechako]

Yes, don't rely on most brokers to know their product, or to be on top of things. They can be a good "cushion" between a sticky seller and the buyer though. So hard to say. As long as you know not to believe anything a broker says unless in writing, you can buy through one.
BTW: you don't nee to put down 10% to start the purchase ball rolling... a thousand or two will usually do it.

[nautical62]

I've purchased cruising boats directly from the owner and through a broker. It's the seller who pays the broker, so to me, there is little reason to pass on boats, based on whether it's owner represented or broker represented. Both have their pluses and minuses, but the a boat is what is for a given price regardless of whether it's an owner or broker managing the sale. Either way you should get a professional survey as a condition of purchase.

When doing a sea trial on one boat, a through hull sheared off when the surveyor was inspecting it. The boat had to be hauled. In that instance having a broker act as an objective middle man was very useful.

[Snore]

There are brokers and there are brokers.

I have had several non-business dealing with Jordan Y&S and am impressed. If I ever decide to buy another boat, they will be the first ones I go to.

No I don't work for them, they never sponsored me- Mr Jordan just impressed me as honorable.


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[Andy73]

I tend to think of it this way...

Brokers are salespeople... they want to maximize the money they make for each sale. Couple this with the likelihood their relationship (not reputation) with both the buyer and seller is unlikely to continue beyond the short-term (the sale itself), gives many of them the reason to fib/lie/etc to some degree if they think it will get them the result they want (a sale).

Obviously that is a generalization... there are exceptions on both sides of the spectrum, but keeping in mind the broker is focused primarily on getting his/her commission through a sale usually helps you (as both buyer and seller) keep the right perspective when they tell you things.

[garrobito]

Brokers are paid by owners so always they're gonna tried to get as much as possible.. they're fancy car sellers, mostly with very low or medium knowledge, some with thousand miles of navigation but zero knowledge about fabrication systems or boat condition.
During this last years I deal with maybe 45 brokers (we're professionals tire/boat kicker now) but I walk away in any possible one...
I choose deal with owners now.... still looking...

[Cheechako]

I find many brokers aren't so much dishonest as ill informed as to what they are selling. The other thing is, it seems to me they are in need of making a sale of some sort.... so trying to make the deal happen may be more important than maximizing how much the boat sells for....

[Randyonr3]

A little broker bashing here...
I purchased a Catalina 30 a few years ago from "O'Neil Yachts" in Santa Cruz California. The boat was in south beach harbor in San Francisco.. after the sea trial, I accepted the boat and purchased it CASH.
The agreement was for it to be delivered to my slip at Brunos Island In the delta. All went well and the boat delivered..
Until the following week when I went down to the boat..
The dealer allowed the owner to go to the boat and strip everything out he decided he wanted.. the radios were gone, all the brass fixtures, The safety gear, and a number of other gear.. wouldnt have been so bad but where all the items had been on the bulkheads, it left a spot outlining the piece that had been taken off.
When I contacted the broker he gave me a song and dance about selling the guy a 36 foot boat and the owner wanted all the goodies from the 30. I pressed the issue saying that if it was on the boat durring the sea trials, it should have been left on the boat..
His reply was that it wasnt on the sales inventory so it didnt go with the boat..
The whole deal was chicken-****. and I wouldnt have paid for the boat in the shape I recieved it,
But according to the law, he was right.. so my only recorse is to buy elsewhere and to tell the story of how O'Neil Yachts screwed me...
When dealing with a broker, beware......

[Cheechako]

Yeah... that's BS. But as you said, it needs to be on the list of equipment. Unfortunately they always say "list now represented as accurate" etc.
Lesson learned, always write into your offer: "all items , tools equipment currently on the boat is to stay on the boat "

[s/v Beth]

Wow- I thought my broker experiences were bad. I would have put up a bigger fight- if it was attached to the boat it was part of the paid for boat. I wouldn't buy a car without the tires or stereo.
My Valiant was a good experience, however. I had a number of Valiants I was looking at, including a owner of a newer one that dug his heels in. Fine, I went and bought this one. That owner later came back and agreed to my terms, but by then I already had a boat that the broker worked with me on and made sure I got a fair deal.

[Dulcesuenos]

Originally Posted by Cheechako

I find many brokers aren't so much dishonest as ill informed as to what they are selling. The other thing is, it seems to me they are in need of making a sale of some sort.... so trying to make the deal happen may be more important than maximizing how much the boat sells for....

Good point here, some things turn up during surveys etc that the owners knew about and never disclosed to the broker. Some owners try to hide stuff w bondo and paint. I do know a couple of brokers that cancelled their listing due to not wanting to represent a boat once they were aware of things.

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[Randyonr3]

On the boat we have now, The FIRST 42, we had a very plesent time dealing with both the seller and the broker..
To the point that even after the boat was delevered to the west coast, (Coos Bay), and was put back in the water, I was contacted by the broker a couple times to make sure everything was working as agreed.
I guess out of all the boats we've purchased in the past, having one go sour and running into a total ass hole, is not a bad percentage..