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Old 01-08-2022, 02:39 PM   #9
Bacchus
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City: Seneca Lake NY
Vessel Name: Bacchus
Vessel Model: MS 34 HT Trawler
Join Date: Nov 2014
Posts: 7,826
Welcome aboard TF.
I agree with points made by DavidM and others.
One comment I would add is that if you are working with a buyers broker and find a boat listing you are interested in that is listed by a broker (almost always will have broker contact info and not the owner / seller) I would not make any contact or inquiry directly with the broker. It is best if your buyer broker makes the contact & asks any questions.
The reason if you make contact and later want to bring in a buyer broker thevsellers broker may claim he made the original contact with you and refuse to split a commission. That will cut out you buyer broker or you would need to pay him for his /her efforts on top of the full 10% selling broker is getting.
My brother is a broker and when I used him as a buyers broker (which I do recommend) I always had him make initial contact so he could establish his representation of me as a buyer. As mentioned a 50/50 split is common but havevseen it go 40/60 or even 60/40. Today's seller market may affect the willingness of brokers to cooperate if they feel they can complete a sale w/o any assistance. The longer a boat is on the market the more likely a co- broker deal is.
I also agree you need to discuss and reach an agreement with your buyers broker where you find the boat and may ask him to assist. Will he accept whatever % he can negotiate with a selling broker or will he take some nominal (reduced) fee where you identify the boat & seller?
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Don
2008 MS 34 HT Trawler
"Bacchus"
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