Are two brokers better then one?

mainshiptom

mainshiptom

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Ok been trying to get a boat at last and looking around the web and boat yards.

I have been approached by a broker that will search for me but asks for 5%

Is it worth doing?

My Budget is £60k or euro 70K
my choice would be a flybridge
Around 40 Ft

the broker seems to find them in Europe even northern Europe.

Can I beat him on my own?
 
mainshiptom said:
Ok been trying to get a boat at last and looking around the web and boat yards.

I have been approached by a broker that will search for me but asks for 5%

Is it worth doing?

My Budget is £60k or euro 70K
my choice would be a flybridge
Around 40 Ft

the broker seems to find them in Europe even northern Europe.

Can I beat him on my own?
Click to expand...

Tell him to go away. It's bad value for money. You don't need him it's 2017 not 1993
 
Yes and no. I do this (I call it Consultancy service) a lot.

So if you do not know the rounds of buying from another country it helps.
It depends what the broker (buyers side) is offering. If you give him a boat and you tell him I want to buy it and he just helps close the deal and do some paper work I think it is to much.

When I do it I also do it as a round out of showing boats etc then I think it is worth it.
 
having someone in the industry negotiate my purchase worked well for me, it took the emotion and awkwardness out of the price negotiations, as he was a friend of mine it didn't actually cost me very much, but even if it had been at 5% it would have proved money well spent... I'd do it again - but only if I had plenty of confidence in the person working for me.
 
I understand what PYB and PD said in their posts #5 and 6 respectively, but I'd rather call them exceptions.
The generic answer to the generic OP question is bound to be no, I reckon.
Pretty much for the same reason why the answer is the same when talking of engines rather than broker: how could two problems be better than one...? :rolleyes:
 
Phildorset said:
having someone in the industry negotiate my purchase worked well for me, it took the emotion and awkwardness out of the price negotiations, as he was a friend of mine it didn't actually cost me very much, but even if it had been at 5% it would have proved money well spent... I'd do it again - but only if I had plenty of confidence in the person working for me.
Click to expand...

I have bought several specialised cars that way and agree about the removal of emotion and awkwardness from price negotiations. Also, I have ended up with examples which actually work as the buyer is more able to sift out the lemons than I am. It's important to provide a comprehensive brief to the buyer, however, or you risk ending up with an example which ticks all of the boxes except that it is in an unloved colour.

I haven't tried it with boats where the marketplace is much smaller, the requirements are likely to be more subjective and - crucially - the chance to trade-on a mistake without making a significant loss is much reduced.
 
Not quite dark web stuff but there are a few sites only open to brokers. It lists every boat sold, when, where, how long it took, where it was, asking price, sale price, general condition, broker who sold it, and a few other things. Similarly there are sites which list every boat for sale, etc, etc.
Seems an easy job for a broker to search for you and pocket a few %age points
 
Most brokers offer a fixed fee service and will sort all the paper work out, get the price etc. I would also add that use someone who knows they type of boats well ie I dont source sailing boats but do do rib fast fishers and cruisers as I know them well and use them but dont know enough sailing boats to have a good conversation with the buyer
 
Clearly a personal choice dependent on scope of services provider and expertise / time of OP . That said if the percentage is only payable on completion of an acquisition presumably you end up paying nothing if you just decide to keep your cash despite the broker sourcing many lovely vessels you turn down due to colour or whatever. The other risk is around him coming back to haunt you after you independently find one and he claims it came about due to work on his part. It's no different to dealing with head hunters in that you have to be very careful which ones you select and they have the ability to tell you info that you already know . I am sure if the broker had references from credible third parties that would reduce risks but ultimately it's all down to supplier due diligence and the scope of services being carefully defined . At the value quoted I would have thought no shortage of stock but maybe no champagne is out there for beer money?
 
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