Bad experience with a yacht broker, appreciate some advice

[Scott T-Bird]

Really, I've had car salesman and real estate brokers lie straight to my face, with no response when I called them on it. My complaints I have with some boat brokers is that they are lazy and don't want make that much of an effort to get the BUYER (whom they don't represent) information, pretty much what you experienced.

I think that was my point ... what makes this complaint any different than every other one-sided rant that gets hashed out in our forum against brokers. Did we learn anything? Were we warned against any broker in particular? Was there a specific question about how the buyer / broker relationship is best served?

I've not had bad experiences with brokers but I've heard the gamut of complaints about them ... the most vociferous complaints usually come with a heavy dose of disdain for the profession in general and with a "holier-than-thou" attitude, which leads me to believe that there generally is another side to the story. Do we really need to trash boat brokers & other sales people on this site?

BTW, I did enjoy the Badger commercials . Thanks @Crusty Ol Salt! That made the thread worthwhile.

 

[eirikr]

Reading some of the replies, I realized nobody directly addressed this one issue I had with the broker. I would like to ask the members who replied saying I asked too much from the broker the following questions:

Broker asked me to send in my offer with subjects. Following is the actual text message I replied to the broker. Please tell me why this is not polite enough. Please tell me how to word the request, if it offended the broker. Please explain to me which part is unreasonable. Is asking for the receipt for a new outboard unreasonable? How would I get warranty service if I don't have a receipt? Is specifing make and model of electronics unreasonable? Will you buy a boat with electronics not specified on the contract? And finally, please tell me how you will handle it if you want your subjects written on the offer, but the broker simply ignored your subjects.

 

[dlochner]

Simple answer, you write the extra items on the offer. Words like, This offer is contingent upon receipt of the invoice for the Yamaha 6 HP outboard, etc. etc." The buyer then has the choice of accepting the offer or rejecting it. The broker may have gone to the seller and asked for the information you wanted and the seller said go pound sand.

Some of the information you asked for could have been gathered when you inspected the boat, like what electronics are onboard, what's the make of the auto helm, etc.

The problem is when someone goes off on a rant with only one side of a three way problem. There is no way to know what the real story is without hearing the broker and seller's side of the deal, and we will never hear the other 2 sides. These rants about brokers happen more frequently from first time buyers than experienced buyers, and brokers know this.

All we know is the deal fell through and you are frustrated and angry. One well known phenomena when making a deal like this is buyer's remorse. The bigger the purchase and the more energy put into the purchase, the greater the buyer's remorse. It can happen anytime after an offer has been made and accepted.

Live and learn.

 

[eirikr]

BTW, the owner told me the commission is $5,000 or 10%, whichever is higher.

What's the business ethic for accepting a listing, knowing the boat is low value and low commission, and then provide little service or effort? The owner wasn't satisfied with the service, the broker agitated potential buyers. Could somebody explain to me why this is good business practice? Does business and personal reputation mean nothing nowaday? Please enlighten me, I am all ears. I told the broker it's my first boat purchase, I asked for his help during the process, politely. Is it a good business practice to just ignored my subjects and not helping me to word them right? Yes, he has absolutely no obligation to do any of that. But if he did, would that help facilitate the sale and help out a newbie? And isn't that goodwill and will sure bring in referral or future business?

I saw a Craiglist listing on a boat that I have been researching for months, replied and asked the broker, politely, for a viewing. I'm from Vancouver, so I drove 205KM to the marina on the Island, paid BC ferry one way fare at $125.25, return fare another $125.25, one way travel time 4 hours, not counting 2 hours wait time at the ferry terminal because it's peak season and BC ferry vessel broke down and missed a couple sailings. Based on what I presented, what made me not committed to view the boat? And just wasting the broker's precious time? Please read the text messages carefully and point out what I said wrong, or not polite enough. What would you say to the broker to ask to view his listings?

 

[dlochner]

You have said your piece more than once. You've heard the opinions of others. It is time to move on.

If you had really wanted the boat and were sure it was the right boat for you, you would have worked through the issues and bought the boat. You didn't, you backed out.

So, what resolution do you want from the members of SBO? You have vented your frustration and blamed the broker for not doing what you wanted him to, he didn't do it and you backed out of the deal. The seller didn't break the deal, the broker didn't break the deal, you did. Accept that and move on.

 

[eirikr]

The deal fell through, as I posted on my first post, not only because of his deceiving behavior after the viewing, but because the broker said something that made my sailing partner felt insulted. I stood up for my friend, and I am proud of it.

 

[eirikr]

But you are right, it's time to move on. Again, many thanks for all the replies, I really learned a lot from this community. Hopfully the next time I post my questions they will be sailing related, yay!

 

[Barnacle Bill]

I am a broker and based on your notes, I'd say the person you were dealing with was pretty much useless and I wouldn't recommend he or she to anyone. The contingencies you request are not out of the ordinary. While the broker is employed by the seller, it is only in his interest that all parties be happy and I, personally, go out of my way, whether it is a small commission or large one, to make sure everything goes smoothly and seamlessly. Sometimes small commissions involve much more investment in time than larger sales, but that is the nature of the beast. Treat the buyer getting a smaller entry level boat right and he might come back again to buy a larger boat. It's only good business sense. But, I am also in the game for the love of sailing and also advise buyers, when I can, about boat differences, sailing areas, you name it. What ever is pertinent for that buyer. Sometimes the buyer isn't so knowledgeable and so comes up with crazy stuff to beat the price down and then I have to sit and have a sensible conversation showing the buyer where I think he is off base, etc., but if he brings up a legit concern, i don't shirk my shoulders and avoid it. I then work to get it resolved so the sale goes through and everyone is happy. Sometimes the seller is not realistic about his/her boat, its condition, value, etc. So, you have to work through all that. And, sometimes you have to point out to the seller that it makes sense to take an offer or they might sit on the boat and later it will sell for even a lesser amount, or just selling it now, will offset storage overhead, etc. and the numbers work. Lots of things to think about. Each sale has its differences, but it is the broker's job to sell boats and since it is a recreational biz, there should be three happy people when it's all said and done. The seller gets his/her money, the buyer gets a new boat to play with and the broker makes some money too. I might add that some surveyors don't want the broker around. Sometimes not even the buyer, but that is not usually the case. However, when there is a sea trial, the broker usually goes if for no other reason but to make it a positive experience on the water. That's my 2 cents.

 

[Crusty Ol Salt]

Just my opinion and you know what they say about opinions..... They are a lot like assholes, everyone has one and they all stink.

Boat brokers and car salesmen have many things and many traits in common.

But how do you REALLY feel about boat brokers ?

The video about the badger car commercials was a riot. Kinda took a shine to the little guy.

My derogatory remark was aimed at opinions.

 

[Sean Kiaer Yacht Broker]

Full Transparency, I am a broker. It is brokers like you describe that make the rest of us look bad.
I hope and pray to whomever, that you reported this incompetent Proverbial Expletive of a broker and the brokerage house to the BCYBA

I am so sorry that you and the seller had to deal with the incompetence
I sure hope you reported him to the local yacht brokerage association.

Mistake Number 1 You did not have a buyers broker.
Mistake Number 2 You Did Not Have a buyers broker
and last but not least you did not have a buyers broker.
And By the way did I mention you did not have a buyers broker.

So Many things wrong with the whole scenario
The broker dropped the ball and did not hand it of to the brokerage house for reassignment
It sounds like the broker was lazy
Sounds like there was a breach of contract on the brokers part.
I cant tell you how important it is to have a broker, and a reputable broker at that to represent both the buyer and the seller.
Only under agreement by both the buyer and a seller can a broker act as duel agent.
Sounds like this never happened.

Again I am so sorry that you had to go through with this.