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PhillipPalacios · 31-05-2022, 08:04

Looking for current references/referrals for a buyers agent/broker for a monohull in the 100-130k price range.
As we narrow our search down to a select few boats I'd love to have someone in the process who knows the process. The sellers broker is obviously trying to maximize the price and convince everyone and anyone why they should buy the boat, but I'd like to have someone looking out for our interests and preferences etc.

Thanks so much!
Phillip

Retirement home · 31-05-2022, 08:42

I don't understand.
I like my local broker; he's a sailor, he's doing his job, I've bought from him before.
I mentioned to him, I really like my berth, if shared pen berth comes up for sale, I'd be keen. Wouldn't mind a trimaran, maybe a cat. If not all well, I'll probably be with a mono later.
Vessels on used market often. I figure if miss out more but more will become available anyhow.
I'm new to this too. Surveyors are professional experts and when keen on a particularvessel, honesty with knowledge a reflection of true principles; purchase plus repair.

PhillipPalacios · 31-05-2022, 08:59

Quote:

Originally Posted by Retirement home

I don't understand.
I like my local broker; he's a sailor, he's doing his job, I've bought from him before.
I mentioned to him, I really like my berth, if shared pen berth comes up for sale, I'd be keen. Wouldn't mind a trimaran, maybe a cat. If not all well, I'll probably be with a mono later.
Vessels on used market often. I figure if miss out more but more will become available anyhow.
I'm new to this too. Surveyors are professional experts and when keen on a particularvessel, honesty with knowledge a reflection of true principles; purchase plus repair.

Re-reading my post I get how its not clear.
My situation: I'm looking at boats all over the Caribbean, US east coast, and Europe on yachtworld etc and they are all different brokers. I've asked for more information on a couple that have checked the boxes for the features I'm looking for and am getting close to offering on one of them, but I'd love to have someone representing me - I'm so new at this I'd rather not make a costly blunder or misstep in paperwork etc.

Maybe I don't quite get the process yet? I've been under the impression that the process is similar to real estate, where there can be agents/brokers that represent both sides of the transaction.

So I'm asking for referrals for a broker that would help me in the transaction. Yachtworld and the other sites make it easy to find the boat, but I lack the confidence in the purchase process to make an offer without guidance or someone representing my financial interests.

Am I off in this understanding? I'd love to understand this more as we are getting closer to wanting to offer on a boat.

Thanks!
Phillip

Messing About · 31-05-2022, 09:18

Quote:

Originally Posted by PhillipPalacios

Re-reading my post I get how its not clear.
My situation: I'm looking at boats all over the Caribbean, US east coast, and Europe on yachtworld etc and they are all different brokers. I've asked for more information on a couple that have checked the boxes for the features I'm looking for and am getting close to offering on one of them, but I'd love to have someone representing me - I'm so new at this I'd rather not make a costly blunder or misstep in paperwork etc.

Maybe I don't quite get the process yet? I've been under the impression that the process is similar to real estate, where there can be agents/brokers that represent both sides of the transaction.

So I'm asking for referrals for a broker that would help me in the transaction. Yachtworld and the other sites make it easy to find the boat, but I lack the confidence in the purchase process to make an offer without guidance or someone representing my financial interests.

Am I off in this understanding? I'd love to understand this more as we are getting closer to wanting to offer on a boat.

Thanks!
Phillip

It made sense to me the first time. That first reply, makes no sense to me. Nonetheless, I’d imagine you would have to pay a fee to your buyers broker but it could be worth to you, as you could adjust your offer to cover it. Wouldn’t a qualified surveyor protect your interests in the boat you choose? Granted, the surveyor won’t do your negotiating but do you really need a negotiator or more a qualified person to give you the truth on the proposed purchase vessel?

PhillipPalacios · 31-05-2022, 09:39

Quote:

Originally Posted by Messing About

Wouldn’t a qualified surveyor protect your interests in the boat you choose? Granted, the surveyor won’t do your negotiating but do you really need a negotiator or more a qualified person to give you the truth on the proposed purchase vessel?

I guess as this is the first purchase I have made in this realm I am looking for someone that can guide/advise along the way, and help us in getting our offer written etc. I'm willing to pay for it too as this is a use of their expertise and knowledge.

PaulCrawhorn · 31-05-2022, 09:49

buyer's broker get a share of the seller's fee

no cost to the buyer, but you likely will not be shown boats being sold without a seller's broker involved

macieknan · 31-05-2022, 09:50

Best thing about a buyer's broker, in my opinion, is that your deposit is protected. Seller broker could hold up your deposit for months. Keep also in mind that European market is somewhat different from the US and European sellers often don't do exclusive listings, so a sizeable chunk of European boat ads dont even represent the seller or may not agree to have the deposit held by a buyers broker or any other third party.

Retirement home · 31-05-2022, 10:11

Quote:

Originally Posted by PhillipPalacios

Re-reading my post I get how its not clear.
My situation: I'm looking at boats all over the Caribbean, US east coast, and Europe on yachtworld etc and they are all different brokers. I've asked for more information on a couple that have checked the boxes for the features I'm looking for and am getting close to offering on one of them, but I'd love to have someone representing me - I'm so new at this I'd rather not make a costly blunder or misstep in paperwork etc.

Maybe I don't quite get the process yet? I've been under the impression that the process is similar to real estate, where there can be agents/brokers that represent both sides of the transaction.

So I'm asking for referrals for a broker that would help me in the transaction. Yachtworld and the other sites make it easy to find the boat, but I lack the confidence in the purchase process to make an offer without guidance or someone representing my financial interests.

Am I off in this understanding? I'd love to understand this more as we are getting closer to wanting to offer on a boat.

Thanks!
Phillip

You make sense.
I'd never heard of a buyers broker.

I'm about to look at some boats 1600-3000 km from I. Not to fussed about fibreglass or steel; either would work. I'm might go steel for lightning purposes and ease of repair remote. We've always had glass though so mind here doesn't understand what interior design is like with steel yet.
I am simply planning to visit, inspect, if I'm okay with such I plan to organise a survey which is needed for insurance anyhow.
My local broker a decent bloke. I queried type of was seeking and he helped alot like a buyers broker I guess. Offerings are near yet patience is. I can travel or adapt a different plan of route for cruising later on.

Best luck with your adventures sir.

**JoeRobertJr** · 31-05-2022, 13:25

Hi, Phillip,
Here are a few threads which discuss buyer's brokers. They might help you figure out how to find your own broker, and maybe clarify whether you really need one. At your price point, there are some disadvantages to be aware of when making that decision.

https://www.cruisersforum.com/forums...er-146476.html
https://www.cruisersforum.com/forums...ot-199013.html
https://www.cruisersforum.com/forums...ns-220144.html

I am currently shopping in a similar price range and have decided I am comfortable enough to proceed without a broker, at least until I feel the seller's broker is not being straight with me.

PaulCrawhorn · 31-05-2022, 15:09

Pretty sure if you maje contact as the direct buyer to start with, you may not be able to insert a new buyer broker into the deal after the fact

ItDepends · 31-05-2022, 16:48

Quote:

Originally Posted by PhillipPalacios

…The sellers broker is obviously trying to maximize the price and convince everyone and anyone why they should buy the boat, but I'd like to have someone looking out for our interests and preferences etc.
Phillip

It might be “obvious” but like lots of economics, what is “obvious” is frequently not at all true.

The actual best economic interests of both the buyer broker AND the Seller broker are very closely aligned: Get the deal done, ASAP. They are NOT actually motivated to maximize price, but to turn over boats as fast as possible.

https://www.youtube.com/watch?v=aFYlgqv3T-w

Rumrace · 31-05-2022, 18:28

Check out Michigan’s Jeanneau dealer. He had a nice Catalina and a Jeanneau 37 in your price range a week a go

Rumrace · 31-05-2022, 18:33

IVT Sales in San Diego but likely bigger dollars, just a worker bee broker. Barvaria and Catalina use to have Jeanneau.

goboatingnow · 01-06-2022, 01:34

In the 100K bracket in Europe using a buyers broker would be quite unusual. You would be usually responsible for these fees.

The selling broker will act as an impartial broker in my experience. He wants you to be a happy buyer. He will lead you through the required paperwork. They usually use the U.K. YDBA standard sales and purchase agreement.