I have a surveyor. Saved me from a soft deck issue once before.
I figured the buyer's broker would split the commission with the seller's broker. But if I buy an unbrokered boat from yacht world or similar place I would be paying it all in addition to the asking/selling price. I guess that is my real question- Is the broker going to have access to boats for sale that I simply do not? Or will he be looking in the same internet ads that I will be?
All boats on Yachtworld are brokered boats. Other sites may have brokered boats or not (like the listings on Sailboatowners.com).
Basically, the boats you see on Yachtworld are the same that the brokers see. However, brokers talk to each other and a broker may know of a boat coming to market before it appears on Yachtworld or the broker's listing. A seller may be more motivated (willing to accept a lower price) on a very quick sale because there is a cost to storing the boat while waiting for a buyer and the seller may want the money or want to get out from under the boat quickly.
When you make an offer on the boat you offer the price you're willing to pay and don't worry about the commission. That's the seller's problem. A $100K boat is a $100K boat regardless of whether it is sold by a broker or by an owner.
The broker adds value to the seller not the buyer, so that's why the seller pays. The value the broker adds is marketing and dealing with unreasonable buyers. The broker also serves as a buffer because selling a boat can be emotional for both the buyer and seller. When selling the broker not the owner gets to deal with all the tire kickers and can advise the seller about low ball offers.
Beyond the condition of a particular boat there are many factors that affect the price the seller is willing to take for the boat. Boat sales are seasonal. At least in the north, there aren't a lot of used boat sales from November to March. A seller may accept a lower offer on a boat to avoid paying for winter storage and insurance. Then there are distress sales, divorce, change in jobs, old age, financial concerns all play a factor and will affect the price the seller is willing to accept. Brokers will have access to this kind of information.
The advantage to a buyer's broker is that there is one person you will be dealing with although you may be looking at boats at many different brokerages. A good broker will help you understand the market and help you sort through the many variables that will make a boat the one for you. The buyer's broker can also send out an inquiry to other brokers indicating your interest in a particular boat and find them before they are advertised. If you are going to finance the boat, they can help you connect with appropriate financial institutions.
Both the seller's broker and the buyer's broker have a common goal, to sell a boat. The advantage to a good buyer's broker is that he can focus more on finding you a boat you want and will suit your needs where a seller's broker is more interested in selling the boat that he has listed.
So, if you are uncertain about what boat you want, then a finding a broker that you can work with is a good idea. If you know you want a particular boat model, i.e., a 1990-1995 Catalina 30, then a buyer's broker may not offer you much. If you want someone to help you sort through the options and give advice then you may want a broker. Just remember that the more you are willing to spend on the boat the more support and service you will get.
