yachtguyannapolis
New Member
to act as a buyers agent or a selling agent on a boat you need to work for a licensed brokerage company. In some states, like FLA, the broker (him/herself) needs to be individually licensed.
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Hiring a good buyers agent is a smart way to buy good property. A buyer’s agent will help you to find a good property at the best price possible. You can search in internet for buyer’s agent, you will find lot of options to choose from, but make sure that you select a good, experienced and a professional buyer’s agent, all the best.using a standard YBA agreement why could'nt you act as you own broker and collect the buying agent commission on your own purchase?
There are some interesting comments in this recently brought back thread.
I actually look at this from a little different prospective. I believe it is the buyer who always pays ALL of the broker’s or realtor’s commission. If the seller is willing to sell said property for $x minus whatever the brokerage fee is, then the buyer could have bought it at that price directly but the brokerage fee was worked in to or considered in the final sales price.
Saying the seller pays the fee is like saying Lowes eats the freight charges for your refrigerator to be shipped to the Lowes store. You pay the freight fee, it is just worked in to the price.
You guys do realize that this thread was revived by someone with 1 post, from Australia who doesn't own a boat...and it sounds like he's referring to real estate...not boats.
I'm all for bringing back an old thread if it's relevant but this is out of left field.
“Everyone is entitled to their own opinions, but they are not entitled to their own facts” Daniel Patrick Moynihan.
While it is true the buyer generally provides the money that covers both the product and everything required to get it to the end user the buyer does not pay broker or real estate costs in most situations. Only in rare instances would the buyer be contractually bound to pay these costs. The cost of freight is part of the cost of doing business and Lowes could not sell to you without transporting the item to the area of need. Lowes does not eat anything it is a cost of selling.
Had you stumbled along at the right moment, before the broker is hired, a seller may sell to you at a point you feel is good because their selling costs are lower. However this is based on the opinion of both parties not a certain scientific formula. I regularly laugh at suggestions the people got a great deal on market value type items. Would the seller have sold it to someone else if they offered more? The seller sold it to the highest bidder in the time frame they had.
What is the value of xxxx ?(boat, home, etc.) The true value is what a willing buyer will pay and a willing seller will accept. That is the only true value of anything. Anything else is just opinion. A seller would likely accept the same net without the brokerage fee but you failed to materialize before the needed services were contracted and now they are obligated.
I would hire a broker because they will get me more out of my sale by their experience, networks, tools, and wider exposure. This will ensure I get the most a buyer will pay in the time available. If you sell alone you will likely get less because of the narrow reach an individual has in the market compared to experts in the field.
I will conclude with a question. If your marina mate reaches a deal on your boat without you or a broker marketing it did you get all you could out of your boat?
MM
Interesting comments about the buyer and the commission. I think it is finally getting addressed in the real estate world. The NC listing agreement now has an options for the seller to not pay a buyers agent. Going to be interesting to see how many buyers are willing to pay for representation. Like Frank said there has always been a problem with the seller paying for somebody to compete against them.
Something that is commonly overlooked is that a Broker enables you to take the emotion out of the equation when you are talking to a buyer. Everybody thinks their boat is the best in the world but a broker might have a way of changing your thoughts or at least laying the ground for reality.
If a buyer came to 99% of owners and offered 50% of asking price how do you think the owner would react? Usually not very cordially. A broker hears it every day and has their own way of working through it.
Actually the original poster has 141 posts and I believe owns a 48 Sundancer.