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Brokerless buyers 101 and the benefits of service

Discussion in 'General Yachting Discussion' started by 993RSR, Apr 11, 2024.

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  1. 993RSR

    993RSR Senior Member

    Joined:
    Jan 15, 2004
    Messages:
    517
    Location:
    Annapolis/ Palm Harbor
    When boat owners (sellers) say:

    One owner 2001 Grand Banks.... That means she has never changed hands, never surveyed by professionals, they have no idea of the boat's health.

    When the sellers former boat was a cruising sailboat: This means he cruises at 50% load and has no idea that the boat vibrates like a wet dog.

    Viking 60 sport fish, just majored: They do not mean new cylinder kits or crank bearings, the just spent a major amount of money on deferred maintenance.

    NE boats: Heated indoor storage since new: This indicates the boat is hauled and not winterized. The boats are stored with all their coolers full of sea water. The heated shed means above freezing, damp with wild temperature swings. I am not a piston liner, but if i were, I would rust. 1 boat out of 10 is winterized inside stored and the exhaust capped. (audited)

    Major incident history: Most boat shoppers never think to ask about negative history. Brokerage sellers sign a statement of disclosure.

    Brokers travel extensively to qualify boats that are on their clients short list so the buyer can spend their time on other things.

    I have been a self-employed little boat broker for 30+ years, in the biz since '77. My wife and I are selling our current boat in Annapolis and buying a larger boat in Detroit. Both deals are handled by brokers at their commission rates. I trust the system and appreciate the service.

    Back when these boats were hot, 50' Bertram sport fish sold in Miami that just had both motors majored by DD. Closed and ran the boat up to Palm Beach Gardens by the buyers captain. The new owners went down to the boat and were greeted with a Sheriffs sticker/impounded. The seller never paid DD. He was trying to get his insurance to pay it. This sale was handled by two brokers who missed some due diligence.
    gr8trn and YachtForums like this.
  2. DOCKMASTER

    DOCKMASTER Senior Member

    Joined:
    Feb 26, 2012
    Messages:
    1,486
    Location:
    Ketchikan, Alaska
    Surely you are not suggesting that all owner sellers embellish or even attempt to mislead? And are you also suggesting that there are not brokers out there that do the same? I have no issue with brokers or the % they seek. The seller has a choice if they want to use them or not. But not all sellers are the same.
    I’m not in the NE but I do store my boat in heated storage for the winter. And I still winterize it before it goes to bed. I do not cap the exhaust though and don’t understand why that’s an issue or what it would gain?
  3. ychtcptn

    ychtcptn Senior Member

    Joined:
    Jul 8, 2005
    Messages:
    508
    Location:
    Lighthouse Point, FL
    Cue the broker horror stories!!
  4. 993RSR

    993RSR Senior Member

    Joined:
    Jan 15, 2004
    Messages:
    517
    Location:
    Annapolis/ Palm Harbor
    Surely you are not suggesting that all owner sellers embellish or even attempt to mislead?
    Typically, the owners are not manual readers and too focused on keeping ownership costs to a minimum not the vessels health.
    And are you also suggesting that there are not brokers out there that do the same?
    A large percentage of brokers today avoid any investigation into the boats maintenance history. Choose based on cosmetics and let the surveyors duke it out with the buyer.
    I have no issue with brokers or the % they seek. The seller has a choice if they want to use them or not. But not all sellers are the same.
    I’m not in the NE but I do store my boat in heated storage for the winter. And I still winterize it before it goes to bed. I do not cap the exhaust though and don’t understand why that’s an issue or what it would gain?
    I am a boat salesman not a trained diesel tech. I have attended 1,500 or so diesel surveys. You learn very quickly that there are a select few of these diesel experts that you better listen to and log every word. Tim (the Cat Man) Caruso was one of those experts. When I did a preview of a boat stored inside in CT for a client I looked in the oil fill and dipstick tube. Rust and water droplets. I called Tim who was very generous in helping me keep my 3196's healthy. His advice was cap off the exhaust and cover the air intakes when winter stored indoors (as well as no sea water in the system). In a perfect world block heaters on.
  5. Cpt Sous-Leau

    Cpt Sous-Leau Member

    Joined:
    Mar 29, 2024
    Messages:
    92
    Location:
    USA, Earth
    Hold me back! Just - step - away! No commentary - muzzled.

    I know,,, all broker are honest, and disclose everything on every boat they ever sell. Always. Forever. 100%. No exceptions. :D
  6. Pascal

    Pascal Senior Member

    Joined:
    Feb 29, 2008
    Messages:
    8,495
    Location:
    Miami, FL
    It's not the broker’s job to give advice to the buyer about the condition or anything technical. It s up to the buyer to do his due diligence, inspect the vessel and get surveys. Yes, the broker should disclose any known issue including past damage if known but nothing more.

    misrepresentation is another issue and one that is way too frequent.

    The brokers’ jobs are to broker the deal and make it happen. Nothing more.

    A buyer with too little knowledge should use professional advice. I've seen buyers hire an experienced captain during the shopping process to help them narrow their options and make sure the boats they were making offers on were even worth surveying.
    Capt Ralph and captholli like this.
  7. gr8trn

    gr8trn Senior Member

    Joined:
    Dec 3, 2012
    Messages:
    777
    Location:
    OR/CA
    What about this then?
    YachtForums Listing Service

    Do you really need to pay a 10% commission to sell your boat? All you need is a good surveyor, an attorney and a platform to promote your boat...

    I am not trying to still any pot. I have always used brokers as well. Heck, I helped sell a few boats for a brokerage for a year back in the day. When I sell next time I wonder about YachtForums Listing Service as an option.