Do I get a broker near me or near the boat?

[tanre]

Hi all, I am a newbie and sought the help of a broker that was well respected. Unfortunately, I dont believe he really wanted to help due to my low purchase price. So while I went out and made simple offers online, I figured if one would accept, I could then elicit the help of the broker to draw up the contract. The broker told me that since the offer didnt go through him, he could not help. That doesnt seem true to me...but not too sure.


Anyway, I plan to buy a boat out of country(Im in the US). I am also planning to make more offers on other boats like I did above.



1) Should I look for a broker that is based near me and specializes in out of country offers?
2) Should I look for a FL broker where they have tons more experience buying/selling than say a Northeast broker?
3) should I look for a broker that is based near potential boats (here however, I would need to have a tentative offer from the seller so I know which area the boat is located in, which according to the broker above would negate the ability to use a broker).
4) Do I look for a broker near the boat as compared to where the owner is located?...or the boat is registered?

Any broker search engines? I have searched here and found a bunch of info. Thank you all!

[hellosailor]

Odds are the broker, any broker, just doesn't want to waste their time on a relatively complicated low-end deal.

If your broker has to split a fee with a selling broker, they may not want to work for just the split. When you talk about international sales, again, there's more paperwork and complications, they may not want the sale.

Brokers sometimes work for a living, and if you are looking at low-end deals with complicated paperwork crossing state or national borders? I'd rather have someone say "I don't do that" than have them unhappy about what they're going to make, and probably doing a poor job as a result.

It is hard enough to find a good SELLING broker, who will simply answer the phone and email. But for a bottom-dollar buyer's broker? Good luck with that. You might be better off just sticking to the places where you understood the paperwork, and doing it yourself.

[Shrew]

I wouldn't bother with a Buyers Broker. Look for boats and contact the listing broker and work with them directly.

[StuM]

If you're finding boats and making an offer yourself, you don't need a "buyers broker". The sellers broker will do all the necessary paperwork to close the deal.

[rabbi]

Many international listing brokers won't share their commission with a buyers broker. Simply because a buyers broker is not a common thing in these countries.

Want to buy in Europe? deal directly with the listing broker, or pay your buyers broker from your own pocket.


A buyers broker is a relict from ancient pre- internet times. Only brokers knew the other brokers, so you had to go through a broker just to find a boat. Nowadays you find them on the internet.

[Dave22q]

It sounds like you don't need a buyer's broker but you might want a lawyer to review the paper work and probably a survyor to protect against non obvious problems. This is more critical in purchasing offshore where knowldge of local laws matters.

[fgmidd]

I agree with prior posts that you may not need a buyer’s broker. But from the experience of having bought and sold several boats, and because you describe yourself as a “newbie”, you should be aware that the selling broker may not always have your best interests in mind. The selling broker wants to sell a boat.So once you get serious about a boat, I advise you to get help from someone other than the selling broker, someone clearly on your side.
Here is an example. An old sailing friend of mind told me she had sold her sailboat of 20+ years and was buying a power boat. I asked, what did the survey show? She said, what do you mean, “survey”. So the selling broker had not advised a survey! When she had one done at my advice, it was discovered that the boat had been severely grounded, had underwater damage. Repairs were made at sellers cost, and my friend purchased the boat. And thanked me!
Choosing a surveyor is not straight forward. Be sure the surveyor is not trying to please the selling broker, is independent of the broker, and is serious about surveying, about discovering issues. Some aren’t.
So my advice is to maintain, in the process of buying a boat, a healthy skepticism. Caveat emptor.

[BSMS]

Brokers make money when they sell boats, the sellers broker will not be looking out for your best interest.
Find a good independent Surveyor, dont ask the sellers broker for a surveyor. The broker has no ethical responsibility to protect your interests

[BSMS]

Brokers make money when they sell boats, the sellers broker will not be looking out for your best interest.
Find a good independent Surveyor, dont ask the sellers broker for a surveyor. The broker has no ethical responsibility to protect your interests

[rabbi]

Originally Posted by fgmidd

once you get serious about a boat, I advise you to get help from someone other than the selling broker, someone clearly on your side.

That person is not the buyers broker. The buyers broker had the same interest as the sellers broker: closing the deal to earn money!

Your best friend in this situation as a newbie is a surveyor, or maybe some of your more experienced friends

[wordsmithereen]

I am in boat sales and have been for a long time. I do understand some people have a low opinion of boat brokers, and there are some out there that deserve it. This is NOT an easy business and contrary to one comment we work pretty hard for our money, and it is a constant battle not only to sell a boat but to even find listings.

The broker that said no to you is wrong. The brokerage here will do the paperwork, but there is a fee for us to process paperwork for you, whether the boat itself goes through us or not, and that is generally the same for most brokerages. That fee is for our time standing in line at the title office, our expertise, and ensuring you are covered legally.

Having said that, I assure you it is better to have a local broker working for you, whether you are a buyer or seller. Again, contrary to some of the comments, we do care. Boaters are generally boaters for life, and we will treat you with respect and care because we love repeat business.

Lastly, one thing I will agree about with everyone, get a surveyor. We do have a list of them and we will recommend one or more to you. Any decent broker will tell you we have a love - hate relationship with surveyors, but they will also tell you a good surveyor is worth his weight in gold. We hate losing money because of their finds, but by the same token, we want you to be happy, and we want to find the right vessel for you so that you will come back when you decide to buy or sell. Also, colluding with a surveyor will hurt your reputation, is illegal, and just plain wrong.

[NevisDog]

Originally Posted by wordsmithereen

I am in boat sales and have been for a long time. I do understand some people have a low opinion of boat brokers, and there are some out there that deserve it...

That's for damned sure. I think I've met them all.

In my searches, whenever I came across one of these idiot brokers I didn't bother looking at any more boats listed by him, just crossed them all off my list.

So, as someone with inside knowledge of these total-waste-of-space brokers, how does one best avoid them? They don't exactly hang up a sign.

[rabbi]

Originally Posted by wordsmithereen

That fee is for our time standing in line at the title office, our expertise, and ensuring you are covered legally.

Are you sure about the last part? Would be the first time that a broker could be held legally accountable for anything.


As to shitty brokers. I met a few. I also met open & honesty brokers. Three of these.

there are those completely unexperienced because they used to sell cars until last week. Those supporting VAT fraud by their customers. One (female) broker who felt so much sympathy for the divorced lady that she listed and almost sold a 200k boat to me without checking ownership first (i found out it belonged to the husband, oops
And many who were just plain liars.

The rate is about 1 good and 6 bad. just my experience

[wordsmithereen]

It not as hard to find a bad broker as it is finding a bad car salesmen. Boats have a lot of idiosyncrasies about them that an experienced boater and broker would understand. I love having a client that is knowledgeable. They know what they want usually, and you can get them a good product by knowing what they are looking for. I said all that to say buyers need to do their homework. A bad broker will set off a lot of flags.

Secondly, do the same thing you would with other businesses, and I highly recommend this...contact your better business bureau. It's quick, it's easy (online), and it gives you a foundation about the business and the perspective broker.

I don't think it is bad getting a list of surveyors from a broker, but if you feel uncomfortable about it, go to a marina and ask for a list of contractors. Contact those surveyors and ask about your broker. They will usually give you a good feel for who you are working with. They won't specifically run down a business usually, but if they don't say good things, you can almost bet they are not that good. Surveyors will hesitate to give harsh words about brokers because they get a lot of business through them, but you can usually sort it out.

Good luck on your search and if you are in Florida, look me up if you need help. I am in Merritt Island.

[GeneM]

Be sure to focus on getting a good survey. I hired a surveyor that was near the boat and got a bad survey. Meet with the surveyor first and make him prove to you he will do a good survey. I now know surveyors that would do a good job. I bought a boat that had many unrealzed issues that a surveyor should gave caught.