I must be doing something wrong. In 21 years of boat sales I have never been paid by a buyer. I have represented buyers in countless sales but the commission was paid for by the seller.
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Tucker,
You're doing nothing wrong. A buyers broker is just a different way of handling things and puts the fiduciary responsibility of the broker with the buyer, not the seller. It allows the broker the ability to do things that would otherwise be not in the best interest of the seller who is paying the commission, or things that my be in conflict with his code of ethics.
The buyers broker can snoop around and find out things about the seller that may influence the sale, like how desperate he is or something that may create a better deal. An example might be a divorce or a failing business, or a balloon payment that needs to be made, perhaps nothing to do with the boat. If the selling broker disclosed that he would be in violation of the code of ethics, at least in real estate, and suspect it may be the same in boating.
And the sellers broker will emphasize the goods and downplay the bads, which is simply good salesmanship. The buyers broker will emphasize everything, without leaning any direction. The sellers brokers allegiance is to the seller, as the buyers brokers allegiance is to the buyer.
However, it must be said that any broker regardless of who he's representing has to treat the client fairly and speak the truth.
I've used a buyers brokerage many times, mostly in real estate and has worked very well. And it's fast and efficient. Often the broker would find the property and make an offer subject to my acceptance. I spend very little time looking, the broker knows exactly what I want and what will work so he won't be chasing things that won't work.
The buyer's brokerage thing has become less popular over the years, and a lot of folks, including brokers have never heard of it, especially the younger ones. However, still a good relationship. The "dual agency" thing has come up in the past several years where the broker is representing both parties. I say poppycock to that, you can't represent both sides. When a broker pushes that on me, I simply say that I'll be represented by whomever (or myself) and will do my own due diligence. They also will ask me to pay part of their fees, which I won't.