View Single Post
Old 05-23-2017, 08:44 PM   #13
Seevee
Guru
 
Seevee's Avatar
 
City: st pete
Vessel Model: 430 Mainship
Join Date: Sep 2016
Posts: 3,499
Quote:
Originally Posted by Tom.B View Post
I dunno... I think since you know exactly what you want and know where to look to find it, it seems strange to get a buyer's broker (that I don't really agree with anyway because at the end of the day, their money STILL comes from the seller... but we have argued this ENDLESSLY here already) to help with a simple-ish sale. I don't think they can really negotiate any better than you going direct to the listing agent. Moreover, with the listing agent getting the full rack-rate commission, they will be far more motivated to try and make the sale than one that has to hand over half their paycheck to someone that didn't do much of anything.

But if you don't have one already from previous dealing, no since in trying to pick one out of a pool. A good broker should be a very tight and trusting relationship. Not one you just pick up for a single deal.
Tom,

First, your Buyer's broker is paid for by YOU, not the seller. However, the language in the offer usually has the seller's broker accepting half of what commission the listing contract called for and the seller pays for no "selling" side of the brokerage. Quite common.

So your buyer's broker allegiance is to you. He is not obligated to get the seller the best price, he is obligated to get YOU the best price. He can ask questions and negotiate for you where the seller's broker cannot go because of his ethical obligation to the seller.

I've used buyers brokers a lot, but mostly real estate. They can find out how desperate a buyer is and personal stuff about him that a sellers broker can't divulge. Like he can't feed his kids if the boat doesn't sell.... or he's in the middle of a divorce and needs this thing sold NOW, or whatever.

Now, a lot of brokers want a "dual agency" where they represent both parties. I say poppy cock to that. It's unethical to represent both parties, but they have to treat both fair, not the same as being employed by one party for their best interests.

Yes, buyer's brokers are a good thing, but be SURE it's spelled out clearly in the original agreement.
__________________
Seevee
Seevee is online now   Reply With Quote