Brokers fee on small boat am I reading this right

[superheat6k]

But the 2% is a listing fee. Brokers go to some degree of trouble to inspect a boat, compile its specification, take photos, list it on their website, include it in printed details, make printed copies of the spec, etc. If you list it with a broker, then sell it "privately", why shouldn't the broker have some recompense for his efforts?

Because the broker didn't sell it - that's what he is engaged for.

Besides I also believe 8% for exclusive sale rights is also too high, perhaps fair enough for multiple listing, including an owners ability to sell it himself without further obligation.

 

[pvb]

Because the broker didn't sell it - that's what he is engaged for.

Besides I also believe 8% for exclusive sale rights is also too high, perhaps fair enough for multiple listing, including an owners ability to sell it himself without further obligation.

Without minimum fees, brokers' percentages would be much higher. It's not as if many of them are making a fortune.

 

[thesaintlyone]

I dont have an issue with 8% or even higher but 50% is taking the mickey which I made blatantly clear in my reply email im not sure where else 50% would be tolerated or even deemed legally fair as a sales commission

 

[pvb]

I dont have an issue with 8% or even higher but 50% is taking the mickey which I made blatantly clear in my reply email im not sure where else 50% would be tolerated or even deemed legally fair as a sales commission

As has already been pointed out, it's only 50% because of the relatively low sale price of your boat. If you don't want to pay it, don't use the broker. Nobody's forcing you.

 

[superheat6k]

Without minimum fees, brokers' percentages would be much higher. It's not as if many of them are making a fortune.

You obviously didn't see the programme I watched on More 4 on Monday evening of brokers selling Superyachts typically at 8% of many many € Millions, but in my experience the decent brokers at my level are making a very good living, as long as they are pro-active.

Whyboats sold my last boat within a few weeks of listing at 6% + vat and agreed a fixed fee for the paperwork if I found a buyer.

The broker previously engaged for several months before I changed to Whyboats was simply useless and didn't answer emails nor test enquires I set up after a prolonged period of zero feedback. If a broker can't be bothered to put any effort in, then why should he / she be rewarded for NOT selling your boat.

 

[pvb]

You obviously didn't see the programme I watched on More 4 on Monday evening of brokers selling Superyachts typically at 8% of many many € Millions, but in my experience the decent brokers at my level are making a very good living, as long as they are pro-active.

Whyboats sold my last boat within a few weeks of listing at 6% + vat and agreed a fixed fee for the paperwork if I found a buyer.

The broker previously engaged for several months before I changed to Whyboats was simply useless and didn't answer emails nor test enquires I set up after a prolonged period of zero feedback. If a broker can't be bothered to put any effort in, then why should he / she be rewarded for NOT selling your boat.

I can see you're disillusioned about brokers. Some people find their services valuable.

 

[l'escargot]

I find it difficult to understand how some people have enough money to buy a boat, bearing in mind their apparent inability to understand monetary matters. Always assuming people on here actually have a boat, of course.

Well I own 2 boats, a 38 foot sailing boat and a 5.4m RIB. I also understand monetary matters. I did however misread the post and fail to see that the fee was VAT included.

That's probably because I only pay passing attention to the forum as a bit of light entertainment amongst other distractions and not like a somewhat sad obsessive hanging on every word as if it is of primary importance in my life.

Has that explanation helped your understanding..:encouragement:

 

[pvb]

Well I own 2 boats, a 38 foot sailing boat and a 5.4m RIB. I also understand monetary matters. I did however misread the post and fail to see that the fee was VAT included.

That's probably because I only pay passing attention to the forum as a bit of light entertainment amongst other distractions and not like a somewhat sad obsessive hanging on every word as if it is of primary importance in my life.

Has that explanation helped your understanding..:encouragement:

It's OK, no need to apologise.

 

[prv]

If you don't want to pay it, don't use the broker. Nobody's forcing you.

Well, this is the problem - the marina are at least purporting to force him.

You say this is unenforceable; I agree it very well may be, but I'm not as confident as you. A requirement to use the on-site broker and/or a rule against hanging up private for-sale signs are not the same thing as the straightforward baseless fee that's been discredited.

Pete

 

[l'escargot]

It's OK, no need to apologise.

I think you are having problems with your comprehension if you think there's an apology in there...

 

[pvb]

I think you are having problems with your comprehension if you think there's an apology in there...

It's OK, I think everyone else understands.

 

[superheat6k]

I can see you're disillusioned about brokers. Some people find their services valuable.

I have obviously given a wrong impression from my reply. Please let me clarify.

I was most happy with the services of: Whyboats (last boat sale), Channel island Boat Sales (last boat purchase), Boatshed (who have sold two of my boats), Network Yachtbrokers (prior purchase); Penton Hook Marine Sales (the one before that). I just don't see why I should pay when they do not provide the service offered - 'a brokered sale'.

If I just want an advert then there are plenty of places to spend my cash, not that I am selling presently. If I find a broker is not even trying to sell my boat why would I persist with them.

 

[Tranona]

I think you are having problems with your comprehension if you think there's an apology in there...

Eventually agreeing that you had not understood the original post and that pvb was in fact right in correcting your calculation sounds awfully like an apology to me. So why not be gracious and openly admit you were wrong because of your lack of comprehension?

 

[JumbleDuck]

Contacted a broker to sell Josam my little Jouster as I am not having a great deal of luck online and was hoping a sale might be generated by visitors looking locally for a small boat seen a few people wandering round the marina looking at some small boats opposite with an interest to buy.

I was going to sell my Jouster through Boatshed, who seem to be much more open to small boats than many other brokers. I was looking for about the same as you are, and they were happy to take it on for a minimum commission of £300. The only condition was that they wouldn't make a special trip the 100 miles needed to take pictures of my boat, but would do it when in the area for another one. That all seemed fair to me.

As it happened I sold privately to a friend of a forumite, but having bought a boat through Boatshed, I'd recommend having a chat with your local one.

 

[l'escargot]

Eventually agreeing that you had not understood the original post and that pvb was in fact right in correcting your calculation sounds awfully like an apology to me. So why not be gracious and openly admit you were wrong because of your lack of comprehension?

I agree with PVB, there's no need to apologise. I didn't misunderstand the post, simply misread it, and haven't corrected my calculation which is correct for a fee excluding VAT. Having pointed out that VAT was included, I agreed with him. I think you are taking yourself a bit too seriously...

 

[ghostlymoron]

I didn't spot that when I sold a boat through a broker but mine sold for £14k so 8% would have been more anyroad. I must say the 'Broker performed very well, she was sold 2hrs after he'd been round to take photos.
With a cheap boat such as yours I would sell through a free online site such as Apollo, Boats and Outboards or other which give massive coverage and have proved very effective when I've used them. I guess brokers don't want the hassle of selling for low fees although you could approach some and ask if they'd be interested in a deal such as 10% with no minimum - they might welcome any business these days and probably aren't aware that their terms are deterring business.

 

[ghostlymoron]

One thing I forgot to mention was don't underestimate the power of cardboard! I sold a boat for the widow of a friend of mine, I put it on an online site for which I paid a fee because of its value, the buyer responded to the cardboard 'For Sale' sign hanging on the stern. They just happened to be walking past and we're not even considering getting a boat.

 

[prv]

don't underestimate the power of cardboard!

He's not, that's the whole point of this thread!

He wants to hang up a sign, but believes that the marina and/or monopoly broker will come and stiff him for lots of money if he does.

I'm not sure he's actually correct in that belief, but recommending other brokers (post #54) or advising use of a sign is completely missing the point.

Pete

 

[Tranona]

I agree with PVB, there's no need to apologise. I didn't misunderstand the post, simply misread it, and haven't corrected my calculation which is correct for a fee excluding VAT. Having pointed out that VAT was included, I agreed with him. I think you are taking yourself a bit too seriously...

Not at all - you seem to be making a meal of this by refusing to accept that you did not comprehend the original post. Reading and understanding the importance of what is written is what comprehension is all about - and you did not comprehend it properly.

You originally said he was wrong in a curt manner and when he pointed out your lack of comprehension, you still did not have the grace to apologise.

For somebody who claims to only use the forum for "light entertainment" (post#47) you do seem to espouse some very strong views at times.

When you have made a mistake, for whatever reason always better to accept it.

 

[ghostlymoron]

I seem to have not comprehended the original question. I thought it was about the best way to sell a cheap boat but I'm obviously wrong and will shut up.

He's not, that's the whole point of this thread!

He wants to hang up a sign, but believes that the marina and/or monopoly broker will come and stiff him for lots of money if he does.

I'm not sure he's actually correct in that belief, but recommending other brokers (post #54) or advising use of a sign is completely missing the point.

Pete