Buyer’s Broker for FSBO Question

Not an offer/purchase agreement for a specific boat? ...what did you sign?

I don’t know what you signed. But I can tell you as a buyer there is no reason to sign a contract to boat shop and talk to a broker. If you like him keep coming back, if you don’t, don’t. Besides, the seller pays the commission ...unless the buyer makes a side deal to pay a broker for whatever reason. Which you may or may not have done in this case.

Read the agreement you signed. That's the only way to know what it is. Preferably you would have read it before signing it. I'm sure it makes it clear.

Unlike "buyer agency" in the real estate business which is a real legal concept and codified as such in many states I don't think there is such a thing in the boat business and the "contract" you signed is just a feel good thing to make you emotionally attached to the scheister. In other words, not worth the paper it was printed on. I would ignore it. Then again, I wouldn't have signed it to begin with. That said, OB is right, as he is often, you may want to read it. If it looks like you actually committed to something you may want to engage a legal professional to undo it, soon.

Yeah, it would be on the alleged buyer agent to get "his" money and IF he's even entitled to it he would have to spend some money to maybe get it. My money is that he probably wouldn't bother.

If you sign a contract, you should live up to the terms of that contract, whether or not you think the other side would sue you for the money.

As a former FSBO seller, I did not pay brokers anything. The broker may have added his perceived commission to the purchase price to the buyer. A buyer's agent in boat brokerage office - now that's a new one on me. I've dealt with them in real estate transactions, but no where else.

There are many who use buyer's brokers for boats. Far smarter choice than to call the listing broker for every boat they find online that appeals to them. It works very similarly to doing the same in real estate.

A buyer's broker can be of tremendous help in assisting the buyer and on a brokered boat does not add any cost. They can deal with all the seller's brokers involved in the boat search as well as provide guidance and support to the buyer. I'm sure we have brokers on this site who have fulfilled the function of buyer's broker many times.

As to the agreement, there is not a standard form that I'm aware of so each would be governed by any agreement signed by the customer and broker. The only way to know the agreement is to read it. This agreement would outline all the services to be performed, the term of the contract, any agreement for compensation, and any other contractual terms.

I've heard of signing agreements with the buyer's broker as well as doing it informally. I think assuming there is any sort of scam is absurd. If the OP signed an agreement, then she should know what she signed. Now, she's asking us to speculate on it's terms.