Are brokers failed estate agents?

[Tony7]

I'm currently trying to spend a six figure sum to buy my first. I thought the hard part would have been sliding it past my good lady, No problem !!! " you work hard , enjoy it! treat yourself!" Then I came up against the BROKER!!!!!! must I beg, "please can I buy your boat" Is there an inside line to the psyche of a boat broker.
Observations,
1) they all seem to think money is of no consequence.
2) I can rearrange my time to suit them.
3) I am at fault for wanting to buy the damn thing anyway.
4) we currently live in a booming world economy and a sellers market and I should be greatfull they even speak to me.
The last straw was when " her who must be obey'd" said tonight " why havent you bought that boat yet? I thought you would have rushed out and got one"
Think I'll take up Astro-physics cant be this hard.
Any brokers out there like to defend their role???

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[Deleted User YDKXO]

Tony, as you've probably seen from past threads, brokers come in for a lot of flak on this forum and rightly so, in my view. The big difference between estate agents and yacht brokers is that estate agents generally work for 1.5 - 2% whereas brokers work for between 5 and 10% + the dreaded VAT of course which is probably a lot more than their contribution is worth. Despite what you've been told, it is not a sellers market. Typically, £100k+ boats usually take several weeks or months to sell and nobody pays the asking price. So, if you're not getting the red carpet treatment from the brokers you've been in contact with, walk away
Boating is still very much a cottage industry. Anyone can set themselves up as a yacht broker so, unfortunately, it can be pot luck as to how competent each one is


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[Tony7]

My respect for estate agents grows daily.

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[domlee]

I tried to buy a couple of boats through brokers, they didn't return 'phone calls, supply requested information, pass on offers to vendor (which I think is a legal requirement). In the end I didn't buy the expensive boat I had originally wanted, contacted the vendor directly and made the deal. Best thing I ever did. I would never contemplate using a broker again - waste of time, money and effort!

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[Mrtallsheep]

I also found/find the majority of brokers and indeed the associated bod's in the marine industry unreal. Their lax attitude obviously reflects that business comes to them, and on the whole it would appear they do not have to work for it!

An excellent broker I have worked with on two purchases is J D Yachts at Weymouth. Contact name is Justin. He never grew tired on my constant calls of what's happening and always called me back etc Could not recommend them enough in my experience.

If you want more details call me on my mobile 07710 657289

Regards,

Rob

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[gonfishing]

Try bying one with a four figure sum and see how you can REALLY be ignored!!!

Welcome to the forum
have fun!!

Julian

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[kghowe]

It don't seem to matter if your buying or selling!! I have had two good experiences, (Walrus at Shamrock Quay and Boatmatch.com, Buying and selling respectively) and countless ( well 5 or 6) poor ones. . On two occasions with two of the biggest distributers of Fair..ly good.. line of motor yachts.

Same really.

Still all pails into insignificance once your on the water!

Have fun
KGH

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[tripleace]

Marine sales are also to be avoided.

Their offering was to walk all over a fairline turbo with BOOTS ON.

same attitude but also couldn't care less about the condition of boat they were selling

<hr width=100% size=1><A target="_blank" HREF=http://www.boating-ads.co.uk> Boating Website</A>

 

[jonjo]

Re: Just the start of your problems

If you think brokers are bad best prepare yourself for the rest.

The marine leisure industry is a honey pot to drifters and failures with a big ego.

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[ari]

Re: Just the start of your problems

Like most businesses there is very good, but also very bad...

The thing with brokerage though (as someone else mentioned) is that anyone can simply hang a sign over their door and go into business.

Always worth asking a few questions about how long they've been in business, how long the people working there have been there (thus what experience they have), whether they are a member of a proper trade organisation (ABYA for brokers), where they advertise (proper brokerage advertising isn't cheap so a good indication as to how seriously they take it) and whether it is their core business (with the rise of the Internet there are a lot of boat cleaners etc whacking up a web site, offering cheap commission rates and listing a few boats on the basis that if they sell a couple a year its all extra cash).

There are companies (dedicated brokerages generally) who do it properly, you just have to ask the right questions. Sadly the only question most people ask is "whats the commission rate", find the cheapest and then wonder why they're dealing with cowboys...

Ari.

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[Nat]

Re: Just the start of your problems

Fair point Ari.
Good and bad in all walks of life. I looked at boats in loads of brokers some good offering trials ect and others not in the slightest bit interested, couldent even be bothered to get up out of their seat, some boats as described and others complete wrecks, But what puzzels me is why do some of them broker such old tut, its no wonder they get such a bad name. Anyone being foolish enough to buy one is bound to blame the broker after all they are supposed to know about the item they are selling. In the past if I sold a vehicle in poor condition irrespective of whether it was mine or someone elses I would have had trade descriptions down on me like a ton of bricks irrespective of any disclaimers Id got the buyer to sign. So why cant the same rules apply to boat brokers.


<hr width=100% size=1>2655 ! You can tell me, I'm a Docter !

 

[ari]

Re: Just the start of your problems

Presumably because even "old tut" has a value to someone. A tired old Fairline 36 Turbo is still a £80K boat!

And a broker has no say as to who walks through the door asking him to sell their boat. Pretty hard to say "sorry mate, looks a bit tatty, I wouldn't lower myself".

And finally why would "trade descriptions be down on him like a ton of bricks" if he's described the boat fairly?

Different matter if he's describing the "old tut" as prestine mint condition of course...

Ari.

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[Dave1258]

Re: Just the start of your problems

Could do with a 'Glass's Guide' for boats, after all, who actually dictates the market price for used craft? is it the brokers, the dealers or the manufactures?
An "asking price" or "offers in the region of" are guidelines only who says? who determines the price of a used craft?

<hr width=100% size=1> A man should have two things in life, a boat and a wife willing to let him have one.

 

[Nat]

Re: Just the start of your problems

Ari
I wouldent class your example as old tut. I meant some of the real wrecks which adorn some of the brokers yards And as you say fairly described some of the bad brokers did'nt even know where the boat was, never mind what condition it was in.
I just think after reading some of horror storys posted by other users that there should be some sort of control over the less reputable brokers.
Consumer law say's
:Should the fault be one that would render the item unmerchantable the customer
would be entitled to a full cash refund:
Surely this should also apply to the brokers.


<hr width=100% size=1>2655 ! You can tell me, I'm a Docter !

 

[ari]

Re: Just the start of your problems

"after all, who actually dictates the market price for used craft? is it the brokers, the dealers or the manufactures?"

It is the purchasers that decide the market value, same as anything, if its too much then no one will buy it!

Ari.

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[ari]

Re: Just the start of your problems

"Consumer law say's
:Should the fault be one that would render the item unmerchantable the customer
would be entitled to a full cash refund:
Surely this should also apply to the brokers."

You forget, the broker isn't selling the boat (unless it is one they've taken into stock which is rare), the vendor is.

What people sometimes forget is that buying THROUGH a broker means you are buying FROM a private individual. Hence why it is important to get a survey unless you are very confident (like a very recent boat for example).

Put it this way, if you bought a 15 year old house through an estate agent and a month later the central heating packed in would you expect the estate agent you bought through to pay for it to be fixed?

Ari.

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