Tips on buying from a broker

Dec 7, 2018
199
C&C 27 Mk V Vancouver
Although it is listed on Craigs List. hmm...
I figure less wriggle room he gonna' fight for ever dime amiright?
Any 411 is appreciated.
 

capta

.
Jun 4, 2009
4,772
Pearson 530 Admiralty Bay, Bequia SVG
With a broker you have the security of knowqing the seller actually owns the boat and that the boat is free and clear of liens. Over the years I've met many a buyer who have paid a fair price for a boat, only to find out there are thousands of dollars in liens against the boat which the new owner must pay before the boat can be registered in his name.
 
Jan 11, 2014
11,401
Sabre 362 113 Fair Haven, NY
Most broker agreements with the seller require the broker be paid the commission even if the seller brings the buyer to the boat. The only exception is if the buyer had contacted the seller prior to listing with a broker.

I would be suspect if the seller is going through Craigslist and a broker.
 
Oct 22, 2014
21,088
CAL 35 Cruiser #21 moored EVERETT WA
Maybe the Broker put the boat on Craigslist. Maybe the boat value is beneath the cost recovery listing it on Yacht World. Is a broker going to try and get the most value for his client? He better. That is why he/she is a broker.

Does dealing with a broker mean that a good fair deal is not possible? No.

Is the boat one you want? Make an offer and see what happens.
 
Dec 31, 2016
319
Beneteau Oceanis 351 Charlottetown
We used a broker and we were very happy we did. I felt the broker worked as hard for us as he did for the owner, in the end took less of a commission to make the sale.
 
Sep 25, 2008
7,096
Alden 50 Sarasota, Florida
With a broker you have the security of knowqing the seller actually owns the boat and that the boat is free and clear of liens. Over the years I've met many a buyer who have paid a fair price for a boat, only to find out there are thousands of dollars in liens against the boat which the new owner must pay before the boat can be registered in his name.
I'm sure you realize any potential buyer due diligence can and should include a title inspection or at a minimum, examine the title document where it exists. Paying a broker to do that simple task is unnecessary.


Most brokers I know (and I know quite a few) provide little value-added to the transaction - listing a boat on Yachtworld and then waiting for the phone to ring is not worth 10% of anything.
 
  • Like
Likes: ifmdalvey
Apr 8, 2011
768
Hunter 40 Deale, MD
I will say I used a buyer's broker to find and purchase my current boat, which was fantastic. It cost me nothing (he and the seller's broker split the commission), and after a good conversation the guy knew exactly what I was looking for and was able to point me to several boats which were good candidates - and steer me away from several which looked like good candidates online (he'd already gone thru them and found significant issues). It REALLY made the most use of my limited time when spending a day looking at boats, and as he was a very experienced sailor and boat owner he was able to answer a lot of my questions authoritatively, put unsound impressions to rest, and offer strong alternatives such as similar boats. I found making cold calls to brokers to visit their client's boats time consuming, and their knowledge often lacking. Some were just terrible. My buyer's broker took them out of the equation as far as I was concerned - I never had to deal with them, or the owners. All offers went from my guy to them. He also had a good feel for how open other brokers would be to negotiations, which saved us time. I'm sure its dependent on the person, but I found the experience HIGHLY valuable, and would use a buyers broker again.

The other takeaway from looking at a bunch of boats in a relatively short period of time was how NOT to sell a boat. While buying my current boat, I was trying to sell a 1974 Catalina 27 myself. I figured no broker would be interested, so I placed ads in all the usual places with lots of pics. After seeing a few boats whose owners (and their brokers) made little or no effort to "stage" the boat (e.g. get all your crap off, and neaten things up a bit cosmetically), I went to a significant effort to do as much as I could with my old boat. Trust me, if someone brings their wife along and your boat isn't straightened up, its no sale. It still took a year and change (no one looks in fall and winter), but eventually someone put cash in my pocket and sailed away with the title to an old girl with some life left in her. My point is, shop a little if YOU are selling, and you'll get an idea of what others are doing wrong, so you don't make the same mistake.
 
Jan 7, 2011
4,758
Oday 322 East Chicago, IN
I bought one boat with a broker, bought another without a broker, and sold one without a broker.

All went well. The difference was I had some experience by the time I did the deals without the broker.

All transactions were under $30k if that matters.

Greg
 
  • Like
Likes: tfox2069
Jan 11, 2014
11,401
Sabre 362 113 Fair Haven, NY
A good broker earns their keep when there are problems. Sometimes it is better to deal with an intermediary than have buyer and seller deal with issues on their own. When I bought my current boat, there were issues. Having a broker in the middle helped both sides understand what was reasonable.
 

dLj

.
Mar 23, 2017
3,414
Belliure 41 Sailing back to the Chesapeake
To date I have never used a broker to buy or sell a boat. However, for the next boat, I will likely use a broker to both sell my current boat and to buy my next boat (not necessarily the same broker).

A good broker is invaluable. Both for selling and, in my opinion, especially buying.

dj
 
  • Like
Likes: BrianRobin