What is going on with Florida brokers

[Happ]

It’s not just Florida. I saw an ad on Yachtworld for an old boat at a low price. I am looking for a particular type of boat for a total refit. The broker told me he wasn’t going to make any money so I should call the owner. If i needed anything further don’t hesitate in contacting him. I struck a deal with the owner on the first call. Since it was 400 miles away in Annapolis and Annapolis Boat Show was in 10 days we agreed to a day where I could do both. We also agreed I would get a signed contract and send the full purchase price in advnce. I contacted the broker to let him know about the deal. He text me asking for info. No contract was ever sent even though he called me saying he was sending i right them. At 6;30a the day before I’m to see the boat I get a text from the seller he suddenly has another buyer ……. I’ll save you all the barrage of texts over the next 10 hours by simply saying i never left home.

[Hillbillybuddha]

I bought a house in Florida a few years back. I could not get a realtor to call me back. Actually, it was worse then that. I'd get realtors set up appointments to see houses and they (multiple realtors) wouldn't bother to show up. I'd even call and confirm that I was on my way to see the house. They'd still no show. I love but leaving FL was the best quality of life decision I may have ever made for myself.

[Larryo]

Brokers have had their issues in everything.... boats, real estate, cars, etc.
Most of them aren't worth the powder to blow them up.



So, what to do?


You can search for a good broker, takes some work, lots of references and some good history.


Understand that brokers will not tell the truth, misrepresent, and have an exception for everything they do. So, one needs to do his own due diligence. Even with a buyers broker.


Contact the seller direct. Can be a bit of a pain to find him, but often there's a way. (he is obligated to his broker, you are not).


I could tell you story after of story of lousy brokers over the years.....

[taxwizz]

Originally Posted by lestersails

Do we have to put up with right wing political propaganda in every thread on this forum? Please stop it with the jingoism.

Just ignore them. It will keep your blood pressure down.

[MicHughV]

I love these "broker" topics...why anyone would want to be boat broker beats me.....

From a "broker's" point of view, many prospective boat buyers are simply "tire kickers", this is compounded when a listed boat is some distance from the broker. They know ahead of time, the trip will be a complete waste of their time, energy, mileage, etc, so will try to blow you off so as to avoid all the hassle.

When there is a "buying" broker and a "selling" broker, they have to split the commission 50/50, another problem area as one broker is doing most of the work, while the other sits on his arse and picks up a check.

Most " sellers" are not realistic with their "asking" price, causing a problem for brokers as they know the boat will be a difficult sale, and they may have to show the boat multiple times, until the "seller" sets more realistic price expectations. Until the boat is sold, brokers don't make any money. One wasted trip is one thing, but several wasted trips gets to be quite annoying to them.

Most sellers know that there will be a "10% commission" coming off their expected final price, and this is a problem for many sellers, who generally " add" the anticipated 10% to their asking price, so as to better get close to their " ask" price, but this compounds getting the boat sold.

Finally, a lot of "sellers" don't prep their boat for a quick sale. Engine rooms covered in oil, old worn out lines, etc, etc...often the broker involved in the sale of the boat has no clue about the boat's conditions, especially if they are not the listing broker, and can't answer the first question about the boat. Sometimes their visit to see a boat with you is the first time they step on the boat.

At the end of the day, any prospective buyer needs to consider many things and do his/her homework, before contacting a broker.

Most brokers know other brokers from different companies or areas and who knows what is discussed between them during a sale of a boat.

It's a mixed bag, I've known some stellar brokers, who will walk the extra mile for you, but also those who wouldn't give you the time of day.
It's a merry dance...you the buyer...them the seller and in between a broker or two all dancing different steps.

[joelhemington]

Originally Posted by sepharad

I wonder if this is a similar phenomenon to Realtors racing to get listings, then sitting back and letting others do the work of selling. They still get their cut but at a fraction of the labor. No showing boats, no doing papers, just list?

Yep,

Just bought a house in San Leon, Texas (Galveston Bay) Originally contacted the listing agent - waited a week and no reply. Finally got contacted with an agent through Redfin and closed the deal in a week - no messing around as I was cash buyer. Even still there was a mountain of paperwork but using an outside agent cost the listing agent about $20,000 - maybe she's so busy she doesn't care. When the bad times come most of these people are in for a rude awakening.

[Shrew]

This is a issue of shear numbers and scalability.

How many boats is the listing broker actively listing?

How many E-mails does he get total for all boats for the day?

How many phone calls does he get total for all boats for the day?

How many E-mails can you reasonably respond to in a given day?

How many phone calls can you return in a given day?

How long does it take to draft a reply to an E-mail with a handful of specific questions? (5-10 min. to read the E-mail, lookup the info. and draft a reply??) At roughly 5 minutes per E-mail, you can only draft 108 E-mail replies in a 9 hour period, with no breaks.

Most brokers cull through the E-mails and voicemails asking questions. They focus on just Four things:

1) E-mails and Voicemails specifically asking to book a showing

2) Scheduled Showings

3) People who knock on their door.

4) New Listings

There is simply no time for anything else. If all your doing is sending E-mails and waiting for a response, you will never get any traction.

Here is how to work with brokers:

1) Call and leave a voicemail asking to book a showing

2) Follow-up with an E-mail indicated that you called and left a voicemail and that you would like to book a showing for one or more boats.

You can demand that the broker work in the manner that works for you, but that will get you nowhere. Learn how the system works and work within the system.

[Symphony]

All this is great news!

Sure is nice to too many buyers for sailboats!

sailboat sellers and brokers have been starving for two decades. Now buyers need to chase them down, even for 40 year old classic plastics. Fantastic.

[Cadence]

I would appear that listings are shown by multiple brokers. I may be worth contacting the listing broker, if you can figure that out. Getting 100% of the commission verses 50% would probably increase the interest in responding.
The multiple listings may be the listing broker being satisfied with having someone else do the leg work. It's like the more sh#t that you throw on the wall the more that will stick.

[MicHughV]

"Buyers" market...."seller's " market..... but I simply don't see that at all...I hardly see any sailboats on the move anymore..????

It's more like a "no" market..

[Pegu Club]

There is a reason threads like this are a constant on boating forums…,

An all to large percentage of brokers are notably incompetent at there chosen vocation, they all know it and they all don’t care.

For sale by owner is the only way to do it, if you actually like yourself.

Fair winds,

[aboatman]

When contacting a broker, be sure to leave a call back number. With just an email address it takes time to respond and what does one say? Too many folks just hit the "more information "button". As a broker, these get low priority as all I can do is refer folks back to the ad and point out the video. (which few folks actually open up and read past, year, make, model and price). With a phone number , I can call back at least to answer some of your questions. On an email, if you have specific questions, I can answer them.
With the pandemic, "buyers" have come out of the woodwork and few of them have any ideals on boats, boat ownership: I get multiple calls per week that are basically "teach me all about boats, operating them, storing...and on". Yes most of these are far from ever owning a boat (just mention slip payments or oil change and they are gone.)
Keep in mind this is a lively hood for many. Would you call a stock broker and "want to learn about investing"?

[TPG]

It's like fishing; the action is HOT and the fish they are biting. Get in their headspace or get directly in their face if you want result.

Brokers are the low rent version of real estate agents (be pissed off if you want but I'm right.)

Be proactive and drive the conversation.

[MicHughV]

There are brokers and brokerage houses that have been in business a long time and pretty much know the ropes inside out. Most all of them are experienced boaters in one form or another. I've had several dealings with some of them and every aspect from the first communication to the day of the "closing" sale has been handled professionally and expeditiously. I've also watched as they deal with "tire kickers", which is an unfortunate part of their job.

Unfortunately, I have also experienced the other side of the coin. I'm not sure how some boat brokers managed to find...and keep...a job as a boat broker...as their experience and knowledge of boats is pretty slim to none and their people management skills are zero.

As a prospective buyer....or seller..choosing the right broker or brokerage house is paramount and worthy of some due diligence before pulling the trigger.

An old salt is likely to find his way around without much problem, but a "newbie" may experience some shortfalls.

[imimi]

Not just Florida....Not just Brokers

I was interested in a boat in Adelaide -I'm in NSW - called broker: "I don't know this boat but my partner does" gave me his number. Called several times, no answer, left message, no response. Called original broker again, "that's not like him, I'll get him to call you", nothing; and called again, left messages, nothing. Found the boat and owner on Facebook, he had been told by the broker that there had been in interest, no enquiries...he wasn't happy but had a contract with them.

Another boat in Qld was a private sale: called many times, never answered, left messages never replied. Boat went off market...sold?!? several months later it came back on the market....same thing, rang daily; never answered, left messages, never replied. This guy has an online yachty info business; left messages on his website...nothing. Then saw ads for this boat on Facebook "desperate to sell, we have another boat". still they never replied to posts, calls, emails, nada...gave up, there's plenty more boats in the sea