mckenziemt
Member
I spent a lot of time looking for my boat on my own last spring and summer without any luck before finding an buyers broker. She stream lined the whole process for me and I wouldn't hesitate to contact her next time.
Disadvantage of buyer's broker ?
- Thread starter Trawler_traveler
- Start date
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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.
Good buyer's brokers, of course not all are good, are valuable in that they are your advocate. While a selling broker will tell you he or she can represent both parties in the sale, the fact is that's simply not possible. You want someone fighting as your advocate, the selling broker really can do nothing more than be neutral, or worse.
By coincidence, I published this editorial on a related subject just a few weeks ago https://stevedmarineconsulting.com/the-importance-of-valve-adjustment/ It details the advantages of using a good buyer's broker.
By coincidence, I published this editorial on a related subject just a few weeks ago https://stevedmarineconsulting.com/the-importance-of-valve-adjustment/ It details the advantages of using a good buyer's broker.
Salish Nomad
Senior Member
- Joined
- Jan 13, 2017
- Messages
- 317
- Location
- Anacortes WA U.S.A.
- Vessel Name
- Salish Nomad
- Vessel Make
- American Tug 34
We used a buyers broker to purchase our current boat. We used the same broker to sell our previous boat. Worked well.
friz
Senior Member
In Florida that would be as illegal as the day is long. I assumed that all boat brokers were licensed. Yes/no?
Our experience, with a buyer's broker. We liked him and he showed us a boat that we loved. The same day we viewed it, we put in a cash offer at our brokers recommended price. I don't believe it was ever presented by the seller's broker.
4 days later a message comes back through our broker that another buyer was flying in to buy "our boat" and we had to put in a substancially higher amount to be considered. Because of our lack of value knowledge we chose not to add to the amount we submitted. I'm not sure if our offer was ever presented.
Our broker didn't think we had a chance as the seller's broker would use his client's offer for the sale and the collecting a larger commission.
So not sure if the buyer's broker is a help or not.
Mike
4 days later a message comes back through our broker that another buyer was flying in to buy "our boat" and we had to put in a substancially higher amount to be considered. Because of our lack of value knowledge we chose not to add to the amount we submitted. I'm not sure if our offer was ever presented.
Our broker didn't think we had a chance as the seller's broker would use his client's offer for the sale and the collecting a larger commission.
So not sure if the buyer's broker is a help or not.
Mike
ProMaritime
Senior Member
Hi bumpkin, sorry about your experience but I'm sure it is not unusual.
In real estate (yes, I have a broker's license for that too) most (maybe all) state laws require that an offer to purchase be present to a seller in the order in which a buyer's broker receives or prepares them, whether its a co-broker or a single broker deal. It is also required of members of the National and local organizations of Relators.
Too bad yacht brokers are not more self-policing. Some are outright....well I won't say it. Fat chance getting state legislatures ginned up to pass such laws. Politicians all think all us "yacht" owners are millionaires to be fleeced with taxes anyway.
In real estate (yes, I have a broker's license for that too) most (maybe all) state laws require that an offer to purchase be present to a seller in the order in which a buyer's broker receives or prepares them, whether its a co-broker or a single broker deal. It is also required of members of the National and local organizations of Relators.
Too bad yacht brokers are not more self-policing. Some are outright....well I won't say it. Fat chance getting state legislatures ginned up to pass such laws. Politicians all think all us "yacht" owners are millionaires to be fleeced with taxes anyway.
