Lousy Broker

[sv Stella Maris]

Most professionals are average, which means some are below average and some above. This one seems to be in the first-two categories.

If you are not intimate with either the boat model or location, you must have your own representation.

Even a great broker can not separating dreamers from buyers when remote.

Warm body versus cold phone call…

Don’t sign any paperwork until the last minute. The big brokerage companies will entrap you, or at a minimum pressure other brokers from working with you and claim representation.

[ausnp84]

Originally Posted by leveramikes

I'm right here brothers. Don't worry yourself. Here is an update. The broker finally called me after a month of difficult communication. We talked for a hour! Asked a few questions most of which he couldn't answer. He gave me the history of the boat and sent me a couple of specific photos I asked for. I have now mandated a survey, rigging inspection and engine verification. This will be done tomorrow, I'll attend parts by video call. I have no problem spending an amount of money to get this purchase right. After I have received a verbal report I will in turn submit an offer conditional to my personal inspection in the next month. The boat is well priced thus my offer will be close to asking. Thanks for your comments.

I feel you’re pain! Couldn’t get much of a response from the broker, so I emailed the boat yard instead. They then emailed the owner, who emailed the broker, who emailed me straight back. Survey being done today - should complete next week.

The reality is brokers are really busy currently and getting flooded by dreamer emails. Add to that all the yards they have to visit and even though it’s frustrating, you just gotta persevere...

Hope the survey went well - what boat did you go for?

N

[Riggerman]

I have bought and sold boats for 40 years. I stopped using brokers the last 15. Usually poor service, only interested in quick money I.E. do as little as possible but get a contract sign ASAP. Usually have very little info on their products. Do not have inside knowledge and the list goes on and on and on. If I am interested into a boat, I go to the owner directly. With the age of the internet these days, it is quite easy.
My last boat, an Irwin 43. She was 6000 miles away, was in contact with the owner for 6 months, got all the information I needed. made an offer , We agreed. no down payment. Made arrangement for travel, did sea trial and haul out inspection the same day. the boat was exactly as described. Shook hand the next day. Got a contract drawn by a lawyer, made a bank transfer and bingo. the deal was concluded. Every body was happy, even his broker as he got his commission without lifting a finger.

[Polski Gus]

After reading many of the comments, I am truly amazed and disappointed by many of the comments that offer up excuses such as " it's a buyer's market, wasted time on non-serious buyers, too many questions, etc.

It reflects the state of the profession - which is not overly good. It seems this is becoming the norm rather than the exception. Just remember - it won't always be a seller's market and the true professional will carry on through those times. The leakers will struggle. I've had good brokers and crappy ones - for the crappy ones, I always tell at least 10 people of the experience and refer the good ones.

A professional sales person responds no matter what in a professional manner whether with a simple polite response, asking for more time or directing the potential customer to where they can obtain the information if not in hand - but you never just blow them off.

[goboatingnow]

In my experience most brokers are professional , respond to normal requests and act correctly. Sure there must be bad ones out there but usually they go out of business

[shadow]

Don't get me started as I've actually had 100% failure rate with every broker I came across.. Only 1 was only half-assed. I finally got my yacht but I did most of the work, shock!! As everyone has stated, they know little to nothing about the very boat they are representing, a lot of the information was wrong or way out of date, etc.. Forget trying to actually get a call back and/or an e-mail reply. Most are just lazy and useless.. Again, this is not meant to be a blanket statement as this is my personal experience with everyone was completely worthless.. I would LOVE to encounter one that actually cares and loves their job and is knowledgeable.. Just my rant... LOL

[garyfrankovich]

Just for everyone's information. If YOU hire a BUYER's Broker, YOU have to pay him on top of what you pay for the boat. The broker(s) have a fiduciary responsibility to his/her client (the person paying him/her), if the broker who you think is representing you is splitting the commission with the Listing Broker, he's actually called the SELLING (not SELLER's) broker and has a fiduciary responsibility to the owner of the boat not you.

[Madehn]

A buyers broker is not paid by the buyer. They are paid 1/2 of the selling commission (split with the selling broker). They do have a duty to their buyer solely It is spelled out in the agreement that you sign with them. I had a great buyers broker. Kent Little from little yacht sales in Kemah Tx. He must have shown me 20 plus boats to help me settle on two models. We wanted a gulfstar 47 or a Morgan 51. If available we were also interested in an endeavor 51 but they were rare as hens teeth. Kent found out boat when he was in fla for another client. Travelled 3 hours out of his way to see it and take a set of pics for me. We liked it and went to see it with a surveyor in tow Made an offer after conferring with Kent 3 days later and he took care of everything. He saved us many dollars and was very worthwhile. His model is when I asked about a surveyor he replied with “ these three guys are good- you interview and choose. Never regretted flying our own surveyor out. He paid for his expenses three times over with what he found. Highly recommend using YOUR surveyor and a buyers broker. The boat was in the 100 k range twelve years ago as a price gauge. Kent sure didn’t get rich but he has a customer and a recommendation for as long as I am around. One thing I went and had a talk with him at the beginning and told him I was serious had the money and here was my budget. I also let him know that I would want to look at a number of boats but could schedule when he had free time. Engaging the buyers broker worked out very well for me.

[merrydolphin]

Originally Posted by leveramikes

I have been pursuing a sailboat for 1 month now. I contacted the broker 3 times before he answered me. I asked for a video walkthrough 3 weeks ago and just received one. Asked for a few specific pictures received nothing back. Asked a few important (in my mind) questions never got answers back. I have yet to speak to him by phone only by text. So I set up a telephone call for yesterday and I tried several times to connect but to no avail. I'm serious about purchasing this boat. Before travelling a long distance I want to make sure the boat is in the condition I require. QUESTION: Is it too late to hire a buyers broker and work with him?

Absulutly not. You should do just that. You have no contract with this broker. (And this broker seems BROKEN). You are always better off with your own representation anyway.

[hdelany]

Try sending a contract and a check. If the price is accepted, leave 5 days to go see boat and have it inspected the next day if you like what you see. That should get attention.

[FoxIslander]

Originally Posted by leveramikes

I have been pursuing a sailboat for 1 month now. I contacted the broker 3 times before he answered me. I asked for a video walkthrough 3 weeks ago and just received one. Asked for a few specific pictures received nothing back. Asked a few important (in my mind) questions never got answers back. I have yet to speak to him by phone only by text. So I set up a telephone call for yesterday and I tried several times to connect but to no avail. I'm serious about purchasing this boat. Before travelling a long distance I want to make sure the boat is in the condition I require. QUESTION: Is it too late to hire a buyers broker and work with him?

I went thru the same thing last Nov.-Dec. Boat was for sale in Mexico (US broker). Wouldn't return messages or calls. I indicated to be very interested in this boat and I currently live in Mx and was willing to drive for a viewing. All I got was two "I'll get back to you in a couple days" which never happened. Boat eventually sold in Jan. Not my first dealing with an unprofessional broker. Frustrating as hell