A Rant About Brokers

[Celestialsailor]

Originally Posted by bmiller

You guys have me concerned. My wife and I are headed out west to see a few broker listed boats. We have been in contact with a broker who is listing one of the boats in question. He seems on top of stuff but that's based on a few calls and e-mails.
What specific questions should we ask any broker prior to using them on a serious transaction such as a cruising boat?
A couple come to mind:
How long have you been in business?
Can you provide a list of recent transactions?

And additionally can anybody recommend a surveyor in the San Francisco bay area?

A good Surveyor in the SF bay area that I know of is Joe Rogers. But there are probably many more. As far as Brokers, it's a 50/50 deal as I see it. I have had good ones and bad. If you make an offer. Read the paperwork you are signing. Most ask for a 10% down. Read what the stipulations are if you want to get that back. Most importantly, if you do a survey and the boat needs work from a yard. GET AN ESTIMATE!!! Do not pay for the boat until you do this. My fiend just bought a Catalina 38 for $24,000 and the yard told him the repairs were $11,000. He owned it for 2 days and now has it back on the market.

[Celestialsailor]

Originally Posted by MarkJ

Why dont you stick his name up here so people may get a warning?

The business was Bay Watch Yachts out of Port Washington, NY.

[Sailor Vee]

My advice to anyone buying a boat is to always employ a BUYERS Broker. Why pay a listing agent that 50% of the commission since in reality he represents the seller, not you. It costs the exact same amount to have someone in YOUR court. A good buyers broker will steer you away from the exact same boat that the listing broker will steer you toward. Another advantage. Listing Brokers will not usually treat other brokers like they will a rube off the street. Call it professional courtesy. Call it self serving interest or the fear of an industry board complaint-they just don't. I can't say for certain (since I have never worked with an uncertified broker) but I suspect there is a big difference in certified and uncertified brokers.