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Old 10-01-2019, 01:58 PM   #3
Shrew
TF Site Team
 
City: Westerly, RI
Country: USA
Vessel Name: N/A
Vessel Model: 1999 Mainship 350 Trawler
Join Date: Jan 2014
Posts: 1,847
You're looking for a 'Buyer's broker'. That individual will work WITH the Listing Broker. You are correct that the Listing Broker can really only represent the seller and it would be a conflict of interest to work on both parties behalf.

The benefit of a Buyer's Broker is that they will do the leg work to narrow the list of boats based on your search criteria, and then (hopefully) separate the chaff from the wheat for you. Theoretically reducing the number of boats you would need to visit in person before submitting offers.

The other side of this is that the Buyer's Broker will also want a commission. There is no guarantee that the Listing Broker will split their commission (which is technically paid by the seller based on the actual sell price). If the Listing Broker agrees to split their commission there is no guarantee the Buyer's Broker will take commission split either.

You may be in a situation where, upon purchasing the boat, you'll need to cut a check to your Buyer's Broker.
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