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Old 03-26-2015, 02:28 PM   #21
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I just bought a 34 Mainship Pilot in Punta Gorda FL last week. I recommend BOTH the buying (my) broker and the selling broker highly. The buying broker was Barb Hansen of SW Florida Yachts. The selling broker was Greg Postel of PierOne Yacht sales.

If anyone wants details, they can PM me.
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Old 03-26-2015, 02:38 PM   #22
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if boating is new to you perhaps getting your own broker to represent only your interests would keep you out of trouble.

What is a fair offer depends on the market as well as the condition of the boat.
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Old 03-26-2015, 03:48 PM   #23
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[QUOTE=yachtbrokerguy;319861] I have had many offers so low it turned the seller off and they did not want to negotiate. QUOTE]

Had this happen to us 3 years ago when negotiating on a Nordhavn. I was the potential buyer. Based upon a lot of research and input we made a firm non negotiable offer at 80%. The seller was so offended he refused to talk any further with us. Which was nuts on his part as we knew better than him what the market was doing. He refused to even listen to his very smart and experienced broker to accept the offer.

Eight months later back he comes to "accept" our offer which was not timely for us as we had already found more rational places to put the cash. He ended up selling for 70% of original listing price.

If there is a moral to the story - when selling, list at the right price and listen to your broker.
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Old 03-26-2015, 03:49 PM   #24
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If it's a 9, offer 90 percent, if it's a 7, offer 70 percent. If it's an eleven, and they do exist btw, just hit the offer. Also it's best done with a buyers broker and money in escrow ready to move when that boat finds you which it will.


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Old 03-26-2015, 04:00 PM   #25
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Originally Posted by cafesport View Post
If it's a 9, offer 90 percent, if it's a 7, offer 70 percent. If it's an eleven, and they do exist btw, just hit the offer. Also it's best done with a buyers broker and money in escrow ready to move when that boat finds you which it will.


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Doesn't work if the vessel if badly overpriced to begin with.
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Old 03-26-2015, 04:09 PM   #26
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seaK,

I have to totally agree with No Mast. If you are new to boats and their systems and buying from a broker, you should have your own buyer's broker.
Ask a Lot of questions and re-ask over and over like an idiot to compare the answers - they will often vary - sometimes a Lot.

If you are buying privately, like off Craig's list, you are largely on your own, but try to get a seasoned yachtsman to help you. Most boaters are quite willing to help, and generally really resent sellers trying to take advantage of Newbies.

You can also ask question of your broker, just not disclose the boat you are looking at. They have no control over your private dealings, but will try and also act annoyed and hurt.


BandB, I think we are primarily talking about older used Trawlers here, not new boats. I cannot see where much if any choice of salesman or broker applies.

In my case and opinion, the salesman and brokerage in general were Jerks. I tried to get a different sales guy when not seeming to get support, but I had a Buyer's broker and they were dealing broker to broker.
As stated elsewhere, the more brokers involved, the more difficult the deal - seems to be an exponential function.

If the old trawler that one really wants is being sold by a hard-ass broker, what possible choice do you have except to deal with them, or wait until the seller gets tried of them and goes to another broker.

In my case, seemed both brokers did everything (short of calling us each axe murders) to keep buyer and seller apart and unable to talk with each other.

It also seemed to me, in our case, that the seller (and/or broker) were trying to stall the deal as long as possible as the seller had to continually pour boat bucks into the boat after survey and might well have wanted us to go away so the could put the boat back on the market with all the (bonus) repairs.
(just the posters opinion)
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Old 03-26-2015, 04:14 PM   #27
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Doesn't work if the vessel if badly overpriced to begin with.

No nothing does. But those boats tend to languish and then phone stops ringing. Then another broker gets a shot with the listing and hopefully at a more reasonable price.


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Old 03-26-2015, 04:17 PM   #28
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I have based my offers on...

When I buy a boat I spend quite a lot of time shopping. When I find a boat I want, I research that model to get a feel for asking prices in the area where I am looking. I also look at historical data to get a feel for trends in asking prices. I also look at how long the boat has been for sale. Then I do my own extremely exhaustive survey. Based on the result of that survey I decide if I am going to make an offer and then decide on an offer price, which is generally 75% or less of the asking price. When I have made an offer, I make sure it is conditional on survey and I also make sure the broker lets the buyer know it is not conditional on financing.
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Old 03-26-2015, 04:40 PM   #29
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When I buy a boat I spend quite a lot of time shopping. When I find a boat I want, I research that model to get a feel for asking prices in the area where I am looking. I also look at historical data to get a feel for trends in asking prices. I also look at how long the boat has been for sale. Then I do my own extremely exhaustive survey. Based on the result of that survey I decide if I am going to make an offer and then decide on an offer price, which is generally 75% or less of the asking price. When I have made an offer, I make sure it is conditional on survey and I also make sure the broker lets the buyer know it is not conditional on financing.
yes, and I entirely agree. the OP stated boating was a new world to them. They would not know how to accomplish this in a meaningful way. Which is why I suggested perhaps they find a broker to represent them and help them along.
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Old 03-26-2015, 05:17 PM   #30
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What is a reasonable offer?

So much good advice here but have to admit, I hate the premise of this thread. Apologies to the OP.

There is no percentage formula for determining how much below asking price will not offend a seller. My dad passed away a few years ago and mom needed to sell their house of 25 years as it was too much to care for. The house was on land in a desirable location and in fair shape.

First agent came in and blew smoke up her rear end and promised to get it sold for a number well over $100K over reasonable. 6 months, 1 offer for fair market value, no sale. Agent 2 came along and managed to talk her down to list it for $80k over market, couple offers for fair market value led to no sale. She was determined to get "her" price so the house sat.

Fast foreword a couple of years and 2 disastrous fails of renters. Spent $70K repairing damage done, re-list with agent 3 for fair market value and it sells in 2 weeks for full price cash, 15 day escrow. She's complained bitterly that the price was too low due to the quick sale and tried to counter for $30K over list price.

Moral of the story, make a fair and reasonable offer for you that you are comfortable with and put the ball in their court. If it "offends" them so what? Walk away and find a better deal.

FTR, I payed full asking price for my boat and recently received an unsolicited offer for significantly more than we payed.
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Old 03-26-2015, 06:14 PM   #31
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Craig,

Sounds like what our neighbor did just after the Real Estate market imploded in 2007. She sets an unreasonable price for the house in the worst market in half a century and wonders why it won't sell; and a nice house at that.
Nothing we, the brokers, on anyone else could do to talk sense to her.

2 years empty and another $200k down the drain and it finally gets some interest at 30% discount.

Yeah, brokers do work primarily in their own interest, but they are experienced and not stupid.
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Old 03-26-2015, 07:50 PM   #32
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Let us think about your offer. Ummmmm...
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Old 03-26-2015, 08:11 PM   #33
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As with most things that have negotiable prices, offer what you are comfortable paying. Not what someone else says it is worth. If they take your offer you get what you want at a price you can live with. If they reject your offer, you don't have buyer's remorse.

There are plenty of boats around. If you don't get this one, another can be found.

Don't fall "in love" with a boat and be willing to pay any price to get it. It won't love you back.

The seller is under no obligation to sell you anything at what you think is a fair price. They can ask for anything they want. It just might take them awhile to get it.
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Old 03-26-2015, 08:43 PM   #34
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All good advice. Thanks all.
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Old 03-27-2015, 02:18 AM   #35
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My two cents. Deal directly with the seller's broker. They won't be splitting a commission, which makes your offer twice as good. Take two recent comparable sales and offer 15% less. Then the negotiating begins.

Hire a great surveyor and let them discover every problem that needs fixing. Rose colored glasses can cost you a lot.

Estimate the repair costs, multiply by two and you will be close to what you will end up spending.
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