Yachtworld listing fees.
- Thread starter Mr Hippo
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If you have answers, please help by responding to the unanswered posts.
If you have answers, please help by responding to the unanswered posts.
beachbum29
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Just curious, why does that matter?
SomeSailor
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It's something I've wondered about as well. Just out of curiosity I suppose, but some brokers taut their listings as a big deal, others as a distraction to their own brokerage sites. I'm sure we have some brokers on here. Is it a subscription service with unlimited listings or is it a per listing setup?
An idea of cost perhaps?
An idea of cost perhaps?
Interesting! Just for the heck of it... I'd like to learn about Yachtworld’s charging method too.
Some boats have been listed for years as well as some of the long listed boats being simultaneously listed by more than one broker. And, the long listed boats’ picts as well as the in-depth description usually stay the same over the years; now... you and I know that each long listed boat’s condition must have changed – for better or for worse!
Can a private seller list on YW? If so... how much $$$$ is required?
Inquiring boater-minds want to know!
OK, TF members... who may be broker boys and girls - what's the straight poop on YW???
Some boats have been listed for years as well as some of the long listed boats being simultaneously listed by more than one broker. And, the long listed boats’ picts as well as the in-depth description usually stay the same over the years; now... you and I know that each long listed boat’s condition must have changed – for better or for worse!
Can a private seller list on YW? If so... how much $$$$ is required?
Inquiring boater-minds want to know!
OK, TF members... who may be broker boys and girls - what's the straight poop on YW???
beachbum29
Guru
I'm sure it's about the same as belonging to a real estate MLS. We pay about $5K for each one we belong to, which is 2.
This doesn't include individual agent fees.
But it doesn't appear that Yachtworld sells your listings to other brokers like realtor.com does. They are whores.
This doesn't include individual agent fees.
But it doesn't appear that Yachtworld sells your listings to other brokers like realtor.com does. They are whores.
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I've been chatting with several yacht brokers lately. They have all told me about what a large amount of overhead they have. Since sellers pay for moorage and regular maintenance, I'm trying to figure out where this "large overhead" comes from. Yachtworld seems quite secretive as far as rates are concerned. In my experience the better the grasp of the numbers involved, the better a negotiator you are.
CaptTPT
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Great questions. I currently have my boat listed with a broker. I'm having a lot of trouble with 10% to sell a boat for $500,000. He does post on Yachtworld. How much does it cost?
BruceK
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If no one knows, it says you can`t you put a FSBO advt on YW, it`s broker only. Otherwise you`d get a price from YW.
Both major Oz sites take FSBO adverts, as well as brokers. As they should. Not everyone wants a broker, buying or selling.
Both major Oz sites take FSBO adverts, as well as brokers. As they should. Not everyone wants a broker, buying or selling.
AKDoug
Guru
The boat I looked at in Seattle was listed by the Boastshed, and they collected slip fees from the client while it was in their listing, but no other fees unless the boat sold and they got their commission. I got the impression that the brokers buy a "slot" of advertising space and rotate the listings through "their" allotted advertising space. I believe the slips are discounted for the brokerage, and I know they sometimes discount their brokerage fees well below 10%.
993guy
Veteran Member
I'm not a boat owner but I am going to be in the market in the next 6 mos. which is why I'm watching the listings now. What sources are there other than YW and BoatTrader.com and a few mags like PassageMaker and Soundings for listings?
I can certainly understand a seller's hesitance in paying a 10% commission but what are their options?
One boat I was looking at was listed by 3 brokers that I knew about, is that common?
I can certainly understand a seller's hesitance in paying a 10% commission but what are their options?
One boat I was looking at was listed by 3 brokers that I knew about, is that common?
Hi guy!
Besides YW and BT there is Craigslist (CL) for mostly private sales (FSBO) and some broker sales... sometimes termed BS - LOL!! CL gives you option as to which you desire to see... both at same time if you like! Depending on the CL city/town/region you punch up will provide you many different types and styles of boat choices; as well as price variations.
CL is worldwide for sales ads. Some dealers and owners I've spoken with are very needing to sell specific boats, especially those that have lingered on the market for one reason or another. Some buyers (you???) will travel to see a boat and have it surveyed there as long as they have pre travel commitment from the seller to the buyer's offered price that includes deductions for wet or dry transport costs. For used boats this is still pretty much a buyers’ market, IMO...
I've seen plenty of boats listed under more than one broker. Seems to me it is marine equivalent of land based multiple listing (MLS), however much reduced in its completeness and inventiveness and effectiveness.
Good Luck! Happy Boating Daze!!
Chuck Gould
Senior Member
Yachtworld charges a few hundred dollars per month for their standard basket of services. Banner ads, etc, run a little more. That one flat fee covers a broker's entire inventory, whether the firm has one listing or a couple of hundred. If you wanted to break it down on a per boat basis, for most brokers it's probably about $10-15 per month per boat, depending on the number of boats in inventory.
If you are looking for a broker to represent your boat, ask him or her what *else* they do to look for a buyer besides put a boat in the Yachtworld MLS. Every broker uses Yachtworld, so if the answer is, "Nothing, we just put it out on Yachtworld and wait for something to happen" you might want to consider whether or not your boat is getting any extra attention from that broker.
If you are looking for a broker to represent your boat, ask him or her what *else* they do to look for a buyer besides put a boat in the Yachtworld MLS. Every broker uses Yachtworld, so if the answer is, "Nothing, we just put it out on Yachtworld and wait for something to happen" you might want to consider whether or not your boat is getting any extra attention from that broker.
Chuck Gould
Senior Member
I worked as a broker for a number of years, and the 10% commission rate shouldn't be represented as something necessary to cover the expense of putting a boat on YW. One a per boat basis, YW is dirt cheap.
Typically, the primary benefit that a broker brings to a transaction is the effectiveness of third party negotiation. You would think it wouldn't be hard to negotiate a deal and keep it together without using a broker. After all, the seller wants to sell a boat and the buyer wants to buy a boat, so what could possibly go wrong?
What goes wrong is that both the buyer and the seller, just like everybody else in the world, hopes to leave the marketplace at the end of the day with more value than they brought in the morning. People can, and often do, react emotionally when somebody presents a less-than-full-price offer on a boat or asks the buyer to increase his or her bid. If the buyer and seller are eyeball to eyeball, sometimes they begin to take the negotiation personally and things break down.
That third party negotiation factor saves a *lot* of deals following survey. A good surveyor will find at least something on virtually every boat. Keeping the deal together following survey, working out equitable price adjustments or getting the seller to make some small repairs and keeping the buyer's expectations realistic can often be tougher than getting an initial agreement on price.
Sometimes, (not always), the seller will realize enough more money from the sale to offset the commission. Sometimes, (not always), the buyer will avoid a very bad situation created, deliberately or accidentally, by an inexperienced or even (once in a while) a dishonest seller. In most states, the brokers are regulated and must conform to certain legal standards in order to keep a business license. Brokers are normally required to keep deposits in escrow, so there are additional protections for both buyer and seller when it comes to handing over money in exchange for titles, etc.
Some brokers have studied to become CPYB, or certified professional yacht brokers. That's not an easy thing to achieve, and requires several years experience. That doesn't mean that there aren't some great brokers who have not bothered to become CPYB, (there are), but if you don't know one broker from another in your community the CPYB designation is one of several things to consider when choosing a broker.
Everybody can tell a first, second, or third-hand story about a nightmare experience with a yacht broker; but those stories make the rounds and are of interest because they are unusual, rather than the norm. Don't be afraid to ask your prospective broker for a few references from satisfied clients. He of she should be able to give you some. That doesn't mean that *all* of his or her clients have always been satisfied, but if the references check out it indicates that at least some, if not most, clients have been.
AKDoug
Guru
When negotiations broke down on the boat I made an offer on, I kept the broker since he negotiated in good faith and I respected him, and we moved on a boat on the East coast. The brokerages split the commission by some formula known only to them. I understand the owner of the vessel we couldn't come to terms on wanted a "further" reduction on the commission for the sale of his vessel, which was 8% rather than 10%. Multiple listings probably result in split commissions...
windmill29130
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IMO, most yacht brokers probably work harder than real estate agents. When people are making a huge purchase on something that is going to depreciate in value not increase like real estate, they are more inclined to kick a lot more tires. Most real estate commissions are around 6-7%. Therefore, I think 10% is not unreasonable. I imagine it is very difficult to sell a trawler of any value on your own. Do you want to meet every tire kicker on Saturday or Sunday at the docks? I doubt it. This is just a small part of what they do, necessary evil? I say just necessary? So, I wouldn't worry about what they pay, in the long run it is the quality and upkeep of your boat that helps it sell. Long story short, take care of your boat and make the broker's job easier.
Over the decades, I've sold boats I owned myself. Unless you clearly qualify the "potential" purchaser on the phone before showing... it becomes a real BIG PITA!
As mentioned in a post above - be sure to have your boat in tip top shape before showing... that rather simple to accomplish "Bling-Factor" really helps sell it!
Whether your boat is All Blinged Up, Clean and Looken Purty - or maybe looking like a piece of crap - price it accordingly and attractively compared to market conditions. Then be willing to negotiate, negotiate, and negotiate!
I love personal ads on CL that say: "This is my firm price. With improvements as I accomplish them the price will go up!" Now there's a great way for the seller to waste their ad and personal time - LOL I even saw one that said: "This is a great price for my boat. I will increase the price each week until it reaches this boat's true value! I advise you come see it now while I still hold the price down." - LMAO!!!
If a pre qualified buyer wants to go for a ride on your boat while first looking... say sure, I'd be happy to take you on a ride... for $100 cash I will take you out for an hour cruise. That can be deducted off our agreed to price if you decide to purchase. Otherwise you and I can now agree to a purchase price and you put down 5% in an escrow account of mine.
Those are some of the ways to separate the wheat from the chaff in the boat sales market. There are many more ways too. Most qualifying sequences can be accomplished over the phone. Then when you show the boat you can feel pretty sure the looker is serious about purchasing a boat - and - if your work it correctly their purchase just might be YOUR Boat!
Brokers are dime a dozen... some great, some good, some not so good, and some a piece of trash. The really great ones are pretty easy to tell... they KNOW of what they speak and stay in communication at every level, as well as, being honest in all they say!
Happy Boating Daze!
As mentioned in a post above - be sure to have your boat in tip top shape before showing... that rather simple to accomplish "Bling-Factor" really helps sell it!
Whether your boat is All Blinged Up, Clean and Looken Purty - or maybe looking like a piece of crap - price it accordingly and attractively compared to market conditions. Then be willing to negotiate, negotiate, and negotiate!
I love personal ads on CL that say: "This is my firm price. With improvements as I accomplish them the price will go up!" Now there's a great way for the seller to waste their ad and personal time - LOL I even saw one that said: "This is a great price for my boat. I will increase the price each week until it reaches this boat's true value! I advise you come see it now while I still hold the price down." - LMAO!!!
If a pre qualified buyer wants to go for a ride on your boat while first looking... say sure, I'd be happy to take you on a ride... for $100 cash I will take you out for an hour cruise. That can be deducted off our agreed to price if you decide to purchase. Otherwise you and I can now agree to a purchase price and you put down 5% in an escrow account of mine.
Those are some of the ways to separate the wheat from the chaff in the boat sales market. There are many more ways too. Most qualifying sequences can be accomplished over the phone. Then when you show the boat you can feel pretty sure the looker is serious about purchasing a boat - and - if your work it correctly their purchase just might be YOUR Boat!
Brokers are dime a dozen... some great, some good, some not so good, and some a piece of trash. The really great ones are pretty easy to tell... they KNOW of what they speak and stay in communication at every level, as well as, being honest in all they say!
Happy Boating Daze!
Forkliftt
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Great approach.
If a pre qualified buyer wants to go for a ride on your boat while first looking... say sure, I'd be happy to take you on a ride... for $100 cash I will take you out for an hour cruise. That can be deducted off our agreed to price if you decide to purchase.
If a pre qualified buyer wants to go for a ride on your boat while first looking... say sure, I'd be happy to take you on a ride... for $100 cash I will take you out for an hour cruise. That can be deducted off our agreed to price if you decide to purchase.
Lately I have had several discussions with local brokers, who in no uncertain terms told me if I asked for a discounted commission the boat would not sell because other brokers would steer their clients away. I had to laugh, however, because everyone of these guy was still willing to represent me. I firmly have come to believe as consumers of broker services we have to not be intimidated and negotiate, negotiate, negotiate. The more information we have about the dollar and cents involved, the better off we are.
I also have to ask this question: If a broker is worth 10%, why is he willing to split his commission with another broker and take 5%? I’m pretty sure most of these guys would balk at the idea of going to 5% on a single broker sale. Surely they are not taking less then they are worth. Lets face it, these guy don’t have enough skin in the game to be worth 10%. It’s our money -- let’s keep more of it, both buyers and sellers, especially since it’s the boat that sells itself.
CPseudonym
Moderator Emeritus
Just curious. Did you represent yourself when buying your boat or use a brokers services?
windmill29130
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I imagine it works just like real estate. If I list a boat with a broker and you come along with your broker and buy my boat, they split the commission. 5% to each broker, that is why he is willing/obligated to split. Brokers don't work for free. Now, you want them to get 2.5%! Good luck selling your boat without one and good luck buying one without one. They are a valuable tool when spending this kind of money IMO.
mahal
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Well said! When I sold my previous boat, the broker did everything to get it sold. All I had to do was sign some papers in exchange for a check.
Not having to show the boat to prospective buyers, to me, is priceless.
Daddyo
Guru
YW charges us based on the number of listings. There are then additional charges for upgrades and other options. They also charge us per broker. The co-brokerage split is either 50/50 or 40/60 to selling broker. So as you can see the "big" commission on a 100k boat can quickly become 4k less all expenses. The split with the brokers and the house is often 50/50 so now it's 2K less cost to advertise/bond/insure/rent/utilities/computer/internet/phones/website/signage/postage/license/travel, etc. A 100k boat can quickly become a net loss for the brokerage.
I have had not so great boats that sold in weeks with just a few emails/calls and a sea trial and survey. On the other hand I just sold a very good boat that required 830 emails, yes that is not a typo. Untold dozens of hours on the phone, extensive travel etc. If you ever think this is an easy job then why are so many brokers just so darn good at it
I have had not so great boats that sold in weeks with just a few emails/calls and a sea trial and survey. On the other hand I just sold a very good boat that required 830 emails, yes that is not a typo. Untold dozens of hours on the phone, extensive travel etc. If you ever think this is an easy job then why are so many brokers just so darn good at it
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CPseudonym
Moderator Emeritus
Well stated Daddyo and mirrors my previous experience selling real estate. I used to get a kick outta folks that wondered why I deserved so much money, yeah right. 6% typical commission split between 2 brokers and me as the agent getting 50-60% of our half (3%) on a $100,000 house. The only thing that kept me going was volume of sales, can only imagine the volume difference between homes and yachts it's a wonder yacht brokers survive at all IMO.
Chuck Gould
Senior Member
The broker is probably more willing to split the 10 percent initially agreed upon than to split 6, 5, or 4 percent.
Devil's Advocate says: Let's say I am calling other brokers to find a boat to show a client. I find six 42-foot trawlers that look just about equally promising, based on what my client has in mind. Five of them are listed at a 10% commission, so depending on the specific split arrangement I will wind up with 4, 5, or 6% of the sale price as commission to the selling broker. (If I don't own the brokerage, I'll split half of that 4, 5, or 6% with "the house"). One of the six is listed at a 5% commission, so depending on the specific split arrangement I will wind up with 2, 2.5, or 3% of the selling price as commission to the selling broker- and if I don't own the brokerage I will split half of that lesser amount with "the house".
Question: Of the six boats identified as possibly suitable for the buyer, which boat do you suppose will be shown only as the "last resort"?
Devil's Advocate says: Let's say I am calling other brokers to find a boat to show a client. I find six 42-foot trawlers that look just about equally promising, based on what my client has in mind. Five of them are listed at a 10% commission, so depending on the specific split arrangement I will wind up with 4, 5, or 6% of the sale price as commission to the selling broker. (If I don't own the brokerage, I'll split half of that 4, 5, or 6% with "the house"). One of the six is listed at a 5% commission, so depending on the specific split arrangement I will wind up with 2, 2.5, or 3% of the selling price as commission to the selling broker- and if I don't own the brokerage I will split half of that lesser amount with "the house".
Question: Of the six boats identified as possibly suitable for the buyer, which boat do you suppose will be shown only as the "last resort"?
pilothouse king
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I broke my promise. The Bayliner Owners Club forum has been down for past 3 days, and out of boredom of nowhere to yak, I came back over here to look around, and saw this thread. In the same way I help blind people out of the street, I just had to come back and straighten ya'll out a bit. First of all, I'm pretty damn sure Yachtworld has different pricing plans for different brokerages. They keep those cards pretty close to their chest. I used to pay almost $600.00 a month before I dropped them 4 years ago. None of my actual closings were coming from them, so why not. I haven't looked back. I'm not even going into what PRINT ADS used to cost before the Internet. Or what slips cost at boat shows for us to be there year after year waiting for "Bob to retire, or you win the lotto", but we're there, and Bob usually died two weeks after he retired, and none won the lotto, but no problem. Enjoyed meeting you the first 10 years. 
BUT I'm ALWAYS here to answer the phone, answer your questions about boats I know you're never going to buy from me. Listen to you vent about wives, children, the economy, NO PROBLEM, I give as good as I get. BUT let's talk about this 10%. Do you realize that it's been that since the days before Jesus? No changes in all these years. It's NOT our expenses your paying for it's our TIME. In the same way you know it doesn't cost what Doctors charge you for a visit, but your paying for them TO BE THERE WHEN YOU NEED them. Same thing. You're paying for the dead time. I'm sitting here uploading old full page print ads on to my site, looking at all the boats, and memories of all come flooding back. Lots of years filling my head with absolute WORTHLESS knowledge to 99.99.999% of the world, but by god, if you have a question about the construction of a boat most have long forgot about, or (as I'm always asked) "How many of a particular boat did they make, and what was good/bad about it, and what did it cost?" I have the answer, and maybe even some photos. "Can you help me find dockage, repair guys, captains, girlfriends, surveyors, Insurance?". Yep, got the Rolodex of experts right here.
Now back to this 10% I travel quite extensively on MY DIME for my clients, fly up to Michigan, NY, Washington State, Vancouver to see (basically give a free survey) your boats. I now have 84k miles on my 09 Grand Caravan I bought new in 8/09- owned by the business JUST for business- driving to California twice, Syracuse, Boston, Texas, (heck it's over 350 miles just to reach I-10 to turn left!) but you know what HAS gone up? GASOLINE, HOTELS, AIRFARE, Restaurants, about everything you can imagine has gone up. YET, our commissions are still 10%. Probably will have to buy a new van pretty soon.
I've had many clients tell me after trying to sell their boats themselves, after dealing with wacko's who've repeatedly shown up, that brokers aren't charging enough commission for what they've had to go through. We're the buffer. We take the **** so the deal will go through. Hate us, but the deal goes through. YOU negotiate between a Jewish Attorney from NYC, and a Redneck from NC! See if you can put it together.
Also unlike Real Estate we don't have anywhere near the volume (although in South Florida it's about gone too) of inventory. In fact late model boats which is what's ALWAYS been the profit in this business is about gone. Not many boats built since 08, so we have a quickly shrinking pool of inventory. Can't make any money if you don't have any boats to sell.
The GREAT news for all you people that don't want to pay the commission, there's now venues from Free (Craigs List) to Ebay that's pretty damn cheap for you to sell yourself with NO commissions.. Whoo hoo you!
I won't go into the out and out outlaws I've had to deal with here, but Google up "Joe Cool" and see what out's there. A lady Broker from Bertram was found dead in trunk of a car in MIA, years back. I had some Mexican drug cartel guys show up here last year that even gave me a scare, and I'm used to them. The Poodle is my spirit animal. I was at Maule Lake Marina during the 80's-early 90's. Next time you watch the movie Cocaine Cowboy's you'll see it. Good times.
So I think we should RAISE our commissions to what Attorneys, and Art Dealers get. Nah, that isn't going to happen, We'll 'eat' the losses, and just write it off on our Income Tax. 10% is ALWAYS just 10%! You get 90% of what we bring you don't you? Still love boats though. I came into this as an Artist straight out of college because I liked the designs, and boating. Didn't come into it for the money. Didn't grow up with any, so never knew what I was missing. Use of TIME my focus. Rather be out boating, biking, or skiing than stacking cheese. It all worked out ok. I really enjoy MY clients as most all are successful FUN people who made their money with the sweat of their brow, or being creative. I Like the Kiwi's and Aussies so much, I'm going to move there "when I win the lotto".
BUT I'm ALWAYS here to answer the phone, answer your questions about boats I know you're never going to buy from me. Listen to you vent about wives, children, the economy, NO PROBLEM, I give as good as I get. BUT let's talk about this 10%. Do you realize that it's been that since the days before Jesus? No changes in all these years. It's NOT our expenses your paying for it's our TIME. In the same way you know it doesn't cost what Doctors charge you for a visit, but your paying for them TO BE THERE WHEN YOU NEED them. Same thing. You're paying for the dead time. I'm sitting here uploading old full page print ads on to my site, looking at all the boats, and memories of all come flooding back. Lots of years filling my head with absolute WORTHLESS knowledge to 99.99.999% of the world, but by god, if you have a question about the construction of a boat most have long forgot about, or (as I'm always asked) "How many of a particular boat did they make, and what was good/bad about it, and what did it cost?" I have the answer, and maybe even some photos. "Can you help me find dockage, repair guys, captains, girlfriends, surveyors, Insurance?". Yep, got the Rolodex of experts right here.Now back to this 10% I travel quite extensively on MY DIME for my clients, fly up to Michigan, NY, Washington State, Vancouver to see (basically give a free survey) your boats. I now have 84k miles on my 09 Grand Caravan I bought new in 8/09- owned by the business JUST for business- driving to California twice, Syracuse, Boston, Texas, (heck it's over 350 miles just to reach I-10 to turn left!) but you know what HAS gone up? GASOLINE, HOTELS, AIRFARE, Restaurants, about everything you can imagine has gone up. YET, our commissions are still 10%. Probably will have to buy a new van pretty soon.
I've had many clients tell me after trying to sell their boats themselves, after dealing with wacko's who've repeatedly shown up, that brokers aren't charging enough commission for what they've had to go through. We're the buffer. We take the **** so the deal will go through. Hate us, but the deal goes through. YOU negotiate between a Jewish Attorney from NYC, and a Redneck from NC! See if you can put it together.
Also unlike Real Estate we don't have anywhere near the volume (although in South Florida it's about gone too) of inventory. In fact late model boats which is what's ALWAYS been the profit in this business is about gone. Not many boats built since 08, so we have a quickly shrinking pool of inventory. Can't make any money if you don't have any boats to sell.
The GREAT news for all you people that don't want to pay the commission, there's now venues from Free (Craigs List) to Ebay that's pretty damn cheap for you to sell yourself with NO commissions.. Whoo hoo you!
I won't go into the out and out outlaws I've had to deal with here, but Google up "Joe Cool" and see what out's there. A lady Broker from Bertram was found dead in trunk of a car in MIA, years back. I had some Mexican drug cartel guys show up here last year that even gave me a scare, and I'm used to them. The Poodle is my spirit animal. I was at Maule Lake Marina during the 80's-early 90's. Next time you watch the movie Cocaine Cowboy's you'll see it. Good times.
So I think we should RAISE our commissions to what Attorneys, and Art Dealers get. Nah, that isn't going to happen, We'll 'eat' the losses, and just write it off on our Income Tax. 10% is ALWAYS just 10%! You get 90% of what we bring you don't you? Still love boats though. I came into this as an Artist straight out of college because I liked the designs, and boating. Didn't come into it for the money. Didn't grow up with any, so never knew what I was missing. Use of TIME my focus. Rather be out boating, biking, or skiing than stacking cheese. It all worked out ok. I really enjoy MY clients as most all are successful FUN people who made their money with the sweat of their brow, or being creative. I Like the Kiwi's and Aussies so much, I'm going to move there "when I win the lotto".
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I broke my promise. The Bayliner Owners Club forum has been down for past 3 days, and out of boredom of nowhere to yak, I came back over here to look around, and saw this thread. In the same way I help blind people out of the street, I just had to come back and straighten ya'll out a bit. First of all, I'm pretty damn sure Yachtworld has different pricing plans for different brokerages. They keep those cards pretty close to their chest. I used to pay almost $600.00 a month before I dropped them 4 years ago. None of my actual closings were coming from them, so why not. I haven't looked back. I'm not even going into what PRINT ADS used to cost before the Internet. Or what slips cost at boat shows for us to be there year after year waiting for "Bob to retire, or you win the lotto", but we're there, and Bob usually died two weeks after he retired, and none won the lotto, but no problem. Enjoyed meeting you the first 10 years.
Now back to this 10% I travel quite extensively on MY DIME for my clients, fly up to Michigan, NY, Washington State, Vancouver to see (basically give a free survey) your boats. I now have 84k miles on my 09 Grand Caravan I bought new in 8/09- owned by the business JUST for business- driving to California twice, Syracuse, Boston, Texas, (heck it's over 350 miles just to reach I-10 to turn left!) but you know what HAS gone up? GASOLINE, HOTELS, AIRFARE, Restaurants, about everything you can imagine has gone up. YET, our commissions are still 10%. Probably will have to buy a new van pretty soon.
I've had many clients tell me after trying to sell their boats themselves, after dealing with wacko's who've repeatedly shown up, that brokers aren't charging enough commission for what they've had to go through. We're the buffer. We take the **** so the deal will go through. Hate us, but the deal goes through. YOU negotiate between a Jewish Attorney from NYC, and a Redneck from NC! See if you can put it together.
Also unlike Real Estate we don't have anywhere near the volume (although in South Florida it's about gone too) of inventory. In fact late model boats which is what's ALWAYS been the profit in this business is about gone. Not many boats built since 08, so we have a quickly shrinking pool of inventory. Can't make any money if you don't have any boats to sell.
The GREAT news for all you people that don't want to pay the commission, there's now venues from Free (Craigs List) to Ebay that's pretty damn cheap for you to sell yourself with NO commissions.. Whoo hoo you!
I won't go into the out and out outlaws I've had to deal with here, but Google up "Joe Cool" and see what out's there. A lady Broker from Bertram was found dead in trunk of a car in MIA, years back. I had some Mexican drug cartel guys show up here last year that even gave me a scare, and I'm used to them. The Poodle is my spirit animal. I was at Maule Lake Marina during the 80's-early 90's. Next time you watch the movie Cocaine Cowboy's you'll see it. Good times.
So I think we should RAISE our commissions to what Attorneys, and Art Dealers get. Nah, that isn't going to happen, We'll 'eat' the losses, and just write it off on our Income Tax. 10% is ALWAYS just 10%! You get 90% of what we bring you don't you? Still love boats though. I came into this as an Artist straight out of college because I liked the designs, and boating. Didn't come into it for the money. Didn't grow up with any, so never knew what I was missing. Use of TIME my focus. Rather be out boating, biking, or skiing than stacking cheese. It all worked out ok. I really enjoy MY clients as most all are successful FUN people who made their money with the sweat of their brow, or being creative. I Like the Kiwi's and Aussies so much, I'm going to move there "when I win the lotto".
Dear Sir,
You are no doctor, attorney or dentist. You Are a middle man. You chose your profession. According to the laws of creative destruction and capitalism you will thrive or fail upon the will of the market....so be it.
I do not think you reading my post correctly. If you are willing to take 5% in a split. Why are you worth 10% with no split.
No, there were no brokers involved in the purchase of my vessel, and I would not sell it via broker if possible in my circumstances. Do not misunderstand me however, I think brokers deserve adequate compensation just not 10% in MANY cases. A marketplace is fair when buyers and sellers can haggle, not when brokers act in collusion through reginal assoations.
If you have that kind of cash to throw away, good for you. In a previous life I once had a boss that was fond of saying if you saw $100 on the ground would you pick it up?
