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Information on Brokers in Ireland

Discussion in 'General Yachting Discussion' started by JWY, Apr 30, 2020.

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  1. JWY, Apr 30, 2020
    #1
    JWY

    JWY Senior Member

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    Has anyone bought a boat in Ireland? I have a few concerns with the broker with whom I am dealing.

    1. Listing Broker says that yacht Purchase & Sales Agreements must be written on their company contract. I replied that I have sold yachts in several dozens of countries and I have never heard of a "country" requiring contracts to be written by the Listing Broker.

    2. Broker won't submit my contract to Seller because he sent a contract to another client and he's waiting for that client to get shipping rates before he decides to complete the contract. Hmm, I always thought a broker was required to submit all offers, much less one signed by a client versus one "not signed yet."

    Obviously I am dealing with a "not-broker friendly" situation, but I would like to know the local ground rules if anyone knows them.

    I've been to Ireland and am looking forward to a return visit for sea trial and survey, but I have never dealt with Irish yacht brokers. Any help based on experience will be much appreciated.

    Judy
  2. bliss, May 1, 2020
    #2
    bliss

    bliss Senior Member

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    My knee jerk reaction is before proceeding you need an Irish attorney and maybe an escrow service to give you some protection if everything goes south. Caveat Emptor!
  3. rtrafford, May 1, 2020
    #3
    rtrafford

    rtrafford Senior Member

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    Wow. I wouldn't even think a transaction "requires" anything more than a bill of sale and to have all of the registration performed. Another approach could be to have an attorney intercede as your agent. The attorney could even be the escrow service as well.
  4. rtrafford, May 1, 2020
    #4
    rtrafford

    rtrafford Senior Member

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    Agreed.
  5. olderboater, May 1, 2020
    #5
    olderboater

    olderboater Senior Member

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    I don't know Irish law. However, I did look at the agreement of an Irish broker and it did clearly require submitting all offers, even if the broker knew the offer wasn't acceptable to the seller. Strongest language I've seen.

    I did find out one other thing. To register a boat in Ireland apparently requires the bill of sale and the current registration plus, preferably, the builders certificate. However, it seems it requires the complete chain of all sales history of the boat. Another reason to use an Irish title agent.

    So, as to your 1 and 2...

    1. I can understand a brokerage requiring it, even though very unusual, but to insure all their terms and conditions are understood. It may protect both seller and buyer.

    2. That seems highly unethical and inappropriate to me.

    Someone else may have better luck, but I haven't been able to find anything indicating Yacht Brokers are licensed in Ireland.
  6. rtrafford, May 1, 2020
    #6
    rtrafford

    rtrafford Senior Member

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    My hunch with broker requiring their letterhead may well have to do with further baking their commission rights. But I wouldn't buy a boat or property, for that matter, overseas without legal representation, and when buying a boat even here in the US I'd always look to get in front of the seller directly.
  7. Seasmaster, May 1, 2020
    #7
    Seasmaster

    Seasmaster Senior Member

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    One word, and ONLY ONE WORD:
    GUINNESS

    Amplifying word: "LOTS"
  8. JWY, May 1, 2020
    #8
    JWY

    JWY Senior Member

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    Thanks OB and thanks to those that responded - much appreciated.

    Hey, John, did I ever tell you that I sold T. Guinness's 67' steel Cammenga? The salon showcased photos of many of the family yachts, all classics of course. But then, I guess they were new when the family only them and only were classics by the time I came along to gawk.

    Story is still unfolding on the Irish broker, but not happily....
  9. mapism, May 2, 2020
    #9
    mapism

    mapism Senior Member

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    I can't be positive on current Irish-specific rules, if any.
    But I did deal with an Irish broker, a dozen of years ago.
    Back then, he was happy to follow the RYA (UK) suggested scheme, for the contract.
    So, with regard to your point 1, obviously there wasn't any Country-driven legal requirement.
    I very much doubt that the situation changed since then, but as I said, I can't be positive about this.
    Ref. your point 2, I would guess that the chap simply doesn't want to share his commission.
  10. menkes, May 3, 2020
    #10
    menkes

    menkes Member

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    Hi Judy
    Try contacting the ASSOCIATION OF BROKERS AND YACHT AGENTS (www.abya.co.uk)
    I had a very good experience with a broker that was a member of that organisation.
  11. JWY, May 3, 2020
    #11
    JWY

    JWY Senior Member

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    Thanks, Paolo! Thanks, Menkes! I am following up.