why not be you own broker buyer's agent

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.
 
using a standard YBA agreement why could'nt you act as you own broker and collect the buying agent commission on your own purchase?
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.
 
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.
 
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.

“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
 
sundancer123....do you work? Do you get PAID when you work ? A broker WORKS...He works when he shows a boat. He works when he negotiates a price.
He works when he explains to the buyer and seller what the value is....if you don't recognize this WORK, then you are saying everyone who sells you anything is ....worthless and deserves no pay. I have been in the const. bussniss for 30+ years which involves sales. I always use a broker whether I'm buying or selling and I understand the value of that. Also this comment does not even take into account the money the broker spends on advertising to bring a buyer to the table. I'd like to know what you do for a living that you think it's OK to say....a salesperson has a "licence to steal".......REALLY????
 
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.
 
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.
 
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.

Actually the original poster has 141 posts and I believe owns a 48 Sundancer.
 
“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

MM, I pretty much agree with everything you stated. My post was in response to a post Jim had made. I did not copy that in my original post to show my reference and should have.

I have been buying and selling properties since I could legally sign a contract and all have had realtors invloved so I have certainly paid my share to realtors, brokers, etc.

To better summarize my earlier statement, fees or any other kind of overhead for the seller, whatever they may be, are normally are passed to the buyer. This is true most of the time.

When I sell anything, I always consider those costs and add them to what my "bottom dollar" is. I mean that is just business plain and simple. If you don't pass overhead costs on to the buyer you will be out of business or broke quick. Sure, there are exceptions to this and there always will be. If someone needs to dump a property or boat or various other situations.

And to your question yes, because I do the research before I sell somehting of value. If my marina mate happens to pay less than I could have gotten after marketing then it won't be by much. I really don't mind giving friends "deals" anyway.

The fact is that when I did sell my last boat I brokered it. I knew what it was reasonably worth and decided what I would take to sell it. After being in the boat trader for 2 months, a seller came forward. The seller paid what I wanted for the boat including what I needed to cover the fees. I got what I wanted for my boat, the buyer got a great boat for a price he was willing to pay and the broker got paid very well for his time. Everyone was happy. Had I not been in a contract with the broker and a buyer would have come along and offered what I wanted to get I would have taken it.

I don't have a problem with brokers or realtors as long as they earn their money. Like I said I have always used realtors or brokers.

If anyone does not want to pay the fees don't use a broker, it is a simple as that. I will likely continue to use brokers.

In closing- All I said is that, generally speaking, any fees incured by a seller, be it an individual or a company, are passed to the buyer. Also, I never said anywhere that buyers were contractually bound to pay any fees.
 
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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.

Ok except most buyer's agents in GA are not actually buyers agents. Rarely is a buyers agreement signed and the selling broker is actually a co-op agent for the listing broker.
 
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.

A very valid point. We sometimes deal with that situation in real estate. MM


Old thread or not I will always try to help others understand the dynamics of sales.
MM
 

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