To Use a Broker or Sell Direct?

Before we bought this last boat, we were in the south florida area looking at boats. Climbing on 4-5 per day.

Looked at a 50 something foot cruiser, broker showing the boat met us at the boat. We start climbing around opening every door, looked in one of the heads. A #2 in the head, not flushed.
 
Carpediem44DB said:
No Offense to boat brokers but Real estate brokers have way more legal liability and paperwork to wade through than boat brokers and they typically only charge 6 percent or less. Sorry but you boat brokers make a lot of money for what you actually do. I know that you may only have a few sales a year as opposed to a real estate broker but that's no excuse for charging what you do IMHO. I know that most of the time the commission gets split 4 ways and buyer brokers won't call on a listing if there isn't a 10% listing fee. The industry is to blame not individual brokers. You do perform a valuable service and there are some very professional actors out there, I know and respect a number of you. Its just a big check to write for what in my experience is pretty minimal effort.
Carpe Diem
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I am not taking offense, but would like to explain a recent sale to a buyer that was a total a@@. Fairly new 50ft Sea Ray, well taken care of and pretty much a turn key boat. Buyer, under contract, kept nit picking the boat for 30 plus days, haggling back and forth to the point the seller said he was willing to walk away from the sale. I kept saying we were to close to selling, don't walk. We wound up discounting the commission to make it happen. After 30 plus stress filled days we close. With the hours invested in this one, I would have been better off flipping burgers.
 
bahamabreisus said:
I am not taking offense, but would like to explain a recent sale to a buyer that was a total a@@. Fairly new 50ft Sea Ray, well taken care of and pretty much a turn key boat. Buyer, under contract, kept nit picking the boat for 30 plus days, haggling back and forth to the point the seller said he was willing to walk away from the sale. I kept saying we were to close to selling, don't walk. We wound up discounting the commission to make it happen. After 30 plus stress filled days we close. With the hours invested in this one, I would have been better off flipping burgers.
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Been there and done that more times than not!
 
I would say it is a time VS money thing.

If you have the time list it yourself. Pull all the comps in a 1000 mile distance, know the market, Have a survey done yourself and fix what you want to fix and then give full disclosure on what still needs to be done and the cost of those things.

Will it be on the hard or back in your slip? Either way have for sale banners made and put on your bow rails also for any lookers that just come up on your boat have a fact sheet done on the whole boat laminate it and tape it to the transom door this will weed out all the BS calls.

Pictures picture pictures pictures.. Have them ready to email at all request along with the fact sheet.

I have sold my last three boats with the " open house " idea and it works ... last three sold by the third looker for asking price. Never listed them on any sites. Sold them by word of mouth and under 30 days.

As an owner /seller have an open mind when showing... let them look at the boat for 30 -40 min on there own... they need to feel it and start dreaming about it being theres and then answer all the questions. Also have all your stuff off the boat. The buyer needs to feel all the open space and storage as it is going to be theres... not yours. Your not only selling a boat your selling a dream to someone!

Have all the lights on when showing and the stereo and TVs on low sound. If on the hard have power to it so all systems can work.Have playing on the TVs a video of your boat running and shots of the gauges and engine room. Or a loop of all the great pictures of the boat.

Have the cabin, cockpit, engine room spotless. They cant talk you down if the boat looks and feels brand new and taken care of.

Remember when a couple is looking at it the man has already made up his mind that it is the boat he wants ... it is getting the admiral on board to pull the trigger.
If the boat is full of your stuff and heads, galley and cockpit a dirty mess she will not get on board with the purchase.

Have a fact sheet made up of all that has been done to the boat ... upgrades and service. Again this helps if someone is trying to talk you down on price. You can look at them a say. It is priced as is and doesn't need anything other than your personal wants/touch once you buy it.

One other thing I do when selling a boat. I take pictures of all the "stuff" I am taking off the boat related to having the boat. I put a price to that and offer it to the buyer once the deal on the boat is done. All three boats I got a check from the buyers for 4k to 5k for it. I give them a list of what it is and they usually price it out online and gladly write the check for it all.

Be realistic with the listing price but be fare to yourself.

When we bought our 460 I knew more about the market on that year and model than the seller did and talked him down 45k. Dont let the buyer know more than you do about the market, brand and model. Again this helps when they try to talk you down on price.

Also know what the buyer will need to get it bought and pass that on to them.This will make it easy for them to get the financing or what their bank will need.Also I would have some transport companies contacts to give and know what needs to be done to the boat to transport it. Again the easer you make it to be bought the faster it will sell.
" This is what a broker or dealer does to get it sold"

I would bet you will sell it to someone local as it is a great boat and if someone has been looking for one from the coast yours is all ready in the area and ready to go.
 
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bahamabreisus said:
I am not taking offense, but would like to explain a recent sale to a buyer that was a total a@@. Fairly new 50ft Sea Ray, well taken care of and pretty much a turn key boat. Buyer, under contract, kept nit picking the boat for 30 plus days, haggling back and forth to the point the seller said he was willing to walk away from the sale. I kept saying we were to close to selling, don't walk. We wound up discounting the commission to make it happen. After 30 plus stress filled days we close. With the hours invested in this one, I would have been better off flipping burgers.
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I have no doubt those deals that go sideways are quite common and it does take a special soul to keep things ironed for their client. I have to tell you, I'm most disturbed by the sales that are double ended by a broker. When the split is 50/50 between brokerage houses and then again with salesmen I'm less concerned but the dual representation aspect just is unseemly to me because there is no way one can actually serve both interests equally. I just don't have enough faith in humans I guess. I bet also that working that hard for a split of a 10% commission on a sub $100,000 boat is more common than on the higher end boats. Either way I hope you have a prosperous 2021!
Carpe Diem
 
b_arrington said:
I worked with a broker to sell my 270 AJ. He had lined a showing with an out-of-town buyer who changed their schedule last minute. My broker couldn't make it, so to keep everyone happy he proposed a 50% reduction in the commission if I showed the boat and they bought it. He felt really badly, but I thought that was a decent compromise. That's one of the reasons I went back when I was in the market again.
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Garwood 003.jpg

We had a similar experience because closing occurred before the broker had performed any marketing services other than bringing a qualified buyer to the table within 48 hours of the boat being offered for sale. In fact, I had not signed the contract but the buyer was under time pressure to see the boat. It worked out well for all concerned and I got a nice discount on the fee.
 
What a great and helpful thread. Thank you to all of you who have contributed, both brokers and individuals.

When I put an ad together I put a some effort into it and also disclose any warts. Usually when a real prospect shows up they're more pleasantly surprised by what they see than disappointed.

Here's an ad I have going right now for one of my bikes. Much smaller ticket item but still presented decently. My stuff is usually in top-notch condition, regardless of age, and even then I point out the smaller stuff. I hope to have a sale this weekend. We'll see.

https://dallas.craigslist.org/ndf/mcy/d/lewisville-2015-ktm-1190-adventure-with/7267227145.html
 
I just have to tell a story. When I was selling my 06 260, I had a couple coming from two hours away to look at it. I had a guy call me the night before sounding super excited. I told him I had someone coming the next day and he wanted to put a deposit on it sight unseen. I told him no. He came early the next day before the other people, I let them know before they left town as this guy sounded like he really wanted it.
He got here, we went for a ride, he commented on how noisy the engine was, and was surprised at how it handled turning. I pretty much immediately figured ha had never been on a boat of that size before and had no clue.
I called the other couple, and they came down. As the husband was looking the boat over, she sat down with me at the cockpit table. She had a long list of questions written down, we went over them pretty thoroughly. (She's an HR person)
They had been looking for the right boat for five years, they had a smaller one, so they weren't without.
They bought the boat for the asking price, and we still keep in touch from time to time.
I'm like a lot of the people here, I do my best to keep my stuff as nice as I can, and it showed to the people that knew what they were looking for.
 
copb8tx said:
Yes, we bought a condo in Port Richey, about 25 miles north of Clearwater. We have a roundabout but see us wanting to stretch our legs and travel down the coast more. Want something more nimble and faster that can be used regularly as a day boat to run to the islands and occasionally port skip all the way down to Ft Myers, and maybe even the Keys. Accommodations are secondary but must be available for the infrequent overnights.

Boats being considered today are Formula 330ss, 350ss, 350cbr, 370ss. 2017+ Sea Ray 320 DA but ask me again tomorrow and you'll get a different answer. :)
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I had the same idea when we moved to Fort Myers 8 years ago. I bought a 37 Intrepid center console with a nice cuddy cabin with A/C. I loved running the boat but missed the room and accommodations of our 44Dancer we had on Lake Michigan. After a year we sold the Intrepid and bought a Florida 420!
 
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We consider Port Richey our Florida toe in the water. We're not locked into any particular path that can't change. We'll try this and that until we get to our happy place. But I have to say it has been a pretty happy place so far. Looking forward to our future adventures.
 
Meeting broker and perspective buyer at the boat this morning which is in the water. Temperature is currently 16. Unreal people comes out to look in this weather, but i am glad.
 
RBB said:
Meeting broker and perspective buyer at the boat this morning which is in the water. Temperature is currently 16. Unreal people comes out to look in this weather, but i am glad.
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Well you've got to be a serious buyer if you want to go look at a boat in 16 degree weather.

If he puts on his face mask and snorkel to check out the bottom it's sold.
 
Carpediem44DB said:
I have no doubt those deals that go sideways are quite common and it does take a special soul to keep things ironed for their client. I have to tell you, I'm most disturbed by the sales that are double ended by a broker. When the split is 50/50 between brokerage houses and then again with salesmen I'm less concerned but the dual representation aspect just is unseemly to me because there is no way one can actually serve both interests equally. I just don't have enough faith in humans I guess. I bet also that working that hard for a split of a 10% commission on a sub $100,000 boat is more common than on the higher end boats. Either way I hope you have a prosperous 2021!
Carpe Diem
Click to expand...

Just wait until the buyers start paying the commission I think that is when you will see a change in the dual agency. I still don't understand why buyers think they should have representation without compensation. I've had many sellers that get upset having to pay the buyer agent commission. Their point is why should they pay somebody to compete against them. Just my 2 cent worth.
 
I recently inquired about a boat listed online via a broker. Assumed since his name was all over the ad that he was the listing agent. I was wrong. There is now another broker involved representing the sellers. Frustrating. Bad enough I have to go through one middle man but now I have to go through two brokers.
 
If you want to know if it’s worth it, just try to buy a boat through a broker. Easy answer! I buy a new boat every 2-3 years and absolutely hate dealing with brokers. Not because of negotiating or them being good at their job. Simply because it’s next to impossible to get them to return a call/email. It’s almost like they are doing you a favor to even answer a couple questions. Nothing worse than trying to buy something and feel like you are “bothering” them. I’m the farthest thing from a tire kicker. By the time I email or call, I’ve already done my research know if it is the make/model I want and have decided that the price is within reason. It just comes down to seeing the boat and making sure the pictures are not deceiving. As long as the boat shows good, I buy. And even with all that said I have to call 3,4 sometime 6 times in a couple week window just to get a call back and even then it’s like they are not interested. Trust me, no one has more vested interest in selling your boat more than you. You will do a much better job, and their is something to be said with buying from an owner who you can meet and get a feel for how they care for the boat. Just my two cents!
 
Richey rich said:
If you want to know if it’s worth it, just try to buy a boat through a broker. Easy answer! I buy a new boat every 2-3 years and absolutely hate dealing with brokers. Not because of negotiating or them being good at their job. Simply because it’s next to impossible to get them to return a call/email. It’s almost like they are doing you a favor to even answer a couple questions. Nothing worse than trying to buy something and feel like you are “bothering” them. I’m the farthest thing from a tire kicker. By the time I email or call, I’ve already done my research know if it is the make/model I want and have decided that the price is within reason. It just comes down to seeing the boat and making sure the pictures are not deceiving. As long as the boat shows good, I buy. And even with all that said I have to call 3,4 sometime 6 times in a couple week window just to get a call back and even then it’s like they are not interested. Trust me, no one has more vested interest in selling your boat more than you. You will do a much better job, and their is something to be said with buying from an owner who you can meet and get a feel for how they care for the boat. Just my two cents!
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Just to elaborate a bit on this...... i have bought a few from dealers and have had much better success. when they own the boat and it is on their books they work a lot harder at selling it... just seems like a broker is playing a numbers game. list enough boats and pick the lowest hanging fruit. So if you are looking at a pre-owned boat at a dealer I would say that is just as good if not even a bit better then a private seller because a dealer will normally stand by that boat for at lease a month or sol after you make the purchase as long as it is reasonable. where a private seller you are on your own the day you take it.
 
Richey rich said:
If you want to know if it’s worth it, just try to buy a boat through a broker. Easy answer! I buy a new boat every 2-3 years and absolutely hate dealing with brokers. Not because of negotiating or them being good at their job. Simply because it’s next to impossible to get them to return a call/email. It’s almost like they are doing you a favor to even answer a couple questions. Nothing worse than trying to buy something and feel like you are “bothering” them. I’m the farthest thing from a tire kicker. By the time I email or call, I’ve already done my research know if it is the make/model I want and have decided that the price is within reason. It just comes down to seeing the boat and making sure the pictures are not deceiving. As long as the boat shows good, I buy. And even with all that said I have to call 3,4 sometime 6 times in a couple week window just to get a call back and even then it’s like they are not interested. Trust me, no one has more vested interest in selling your boat more than you. You will do a much better job, and their is something to be said with buying from an owner who you can meet and get a feel for how they care for the boat. Just my two cents!
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I was look at a boat. Exact model I wanted, etc. etc. I tried to contact the broker every possible way -- thru yachtworld, thru boat trader, called cell, called office, found it on craigslist and went thru craigslist, emailed via their own website. I did that for a year. Never received anythig back -- nada, zilch. Then just saw them post something in a facebook group looking for boats to sell. I bit my lip.
 
From a seller perspective I would run his ass off. My boat is listed thru a broker and he is doing a great
job. Actually showed the boat today. Has another lined up to visit and the boat is on the Ohio River.

Boat has been listed maybe 2 weeks. Interview the broker before you hire him, he be working for you
if you sign up.
Secondly if you have the time to sell your own fine, I am retired and just don't want to fool with the calls. Its working for me.
 
SeaNile said:
I recently inquired about a boat listed online via a broker. Assumed since his name was all over the ad that he was the listing agent. I was wrong. There is now another broker involved representing the sellers. Frustrating. Bad enough I have to go through one middle man but now I have to go through two brokers.
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Really common in south Florida, especially some of the large ones. They have the boat setup on their website. If they get interest they contact the selling broker and work revenue sharing.
 
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