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Old 10-06-2016, 10:37 AM   #11
denverd0n
Guru
 
City: Tampa, FL
Join Date: Nov 2013
Posts: 670
Whether or not a buyer's broker "works" for you is a matter of semantics and local law.

What does it mean to say he "works" for you? The reality is that he is paid by the seller. Do not forget that because, trust me, he won't. During your career did you consider yourself to "work" for the person who paid you, or for the customers who were making the purchase? Most would say that, as much as they were determined to do right by the customer, they considered themselves to "work" for the person who was paying them.

Then local laws come into it. Ordinarily, the "fiduciary duty" of anyone doing a job is to the person paying them for the job. Some states have laws that specifically assign a fiduciary duty to the buyer, for a buyer's broker. Does your state? Or the state you are shopping for a boat in? Probably a good thing to know.

In the end, a buyer's broker can provide a very valuable service. I have used them more than once, and almost certainly will on my next large boat purchase. Nonetheless, I think it is important to understand just exactly what the legal relationship is between you and your buyer's broker. When you say that he is "working" for you, understand just what that means.
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