I tried to buy a boat today, failed.

[V1701]

Our commission is a very low 4%, I see no reason to have a sliding scale and I think it would put most sellers off. Since most brokers have a transparent commission and sale agreement I also think it would put buyers off.

The idea of brokering a boat is (generally) to sell it, the first step in that process is agreeing a good marketable value. The commission calculation should not play a big part in the sale, the value of the boat and the transparency of the process are both far more valuable.

Agree but when you have a boat of low value I think you'd find it very hard to get 4%, is that anything to you being on Alderney?

 

[Channel Ribs]

Agree but when you have a boat of low value I think you'd find it very hard to get 4%, is that anything to you being on Alderney?

You might be confusing us with the wealthy islands to the south?

We are restricted by the mighty insurance to brokering boats that are seaworthy, so this tends to create a lower floor of values. That said if a guy has a clinker dinghy and wants 300 quid for it, yes the £12 commission is well worth it. We would probably not engage foreign agents, or take out a full page advert though.

 

[jonic]

Little story...TRUE. Several years ago I put a boat on the market for £33,000. Got a call from the broker saying he'd had a firm offer for £30,000. Was a bit pushed for cash at the time, and although the boat was immaculate...agreed to the offer. Boat was surveyed and sold. I met the new owners by chance in the yard a few weeks later. Got chatting like you do. Turned out, they'd put in an offer for £32,500 and paid the cheque into the brokers account. Broker had pocketed the extra £2,500. My SWMBO at the time rang the brokers secretary. He was knocking at our door at 6pm (as white as a sheet) that evening with the cash saying there had been a misunderstanding. Very respected broker in the area at the time too YBDSA...the lot??? How many others had he pulled that one on over the years..... Think about it, how often do owners from different parts of the country get to meet.....[/QUOTE

That is appalling, and of course criminal. He should have been prosecuted for that, it is outright theft.

Like Malthouse I use countersigned paperwork and contracts that show the pricing. Was there no contractual paperwork?

 

[KREW2]

Aah, that suggestion fails at the first hurdle, if you check KREW2's profile you'll see he hasn't got any friends and if you'd ever met him you'd understand why! Having said that, the concept of your idea is good, maybe he could pay a forumite to make that call?

Cheers, Brian.

Cheeky b*gger, I've just noticed this reply
Maybe we could start a billy-no-mates club.

 

[misterg]

Cheeky b*gger, I've just noticed this reply
Maybe we could start a billy-no-mates club.

What do you mean "start" one?

I thought this already was one

Andy

 

[trapezeartist]

The theory itself is perfectly understandable, from a human psyche point of view, and has thought me that I will never negotiate with a broker for a fixed percentage, but rather
- 5% if the boat sells for 15K or less
- 20% for everything above 15K
- 50% for everything above 20K
So the better the broker works, the more he gets, and it motivates him to go the extra mile.
If you just use the 5% (or 10% for that matter)- rule there is not enough incentive for player B (the broker) to put in the extra effort.

I used this method once on a house sale. The estate agent recommended "sealed bids", estimated we would get £170k and wanted 1.5% commission. I said we would pay 1% on everything up to £150k and 5% on everything above that. If the final price was indeed £170k, the commission would be the same either way. The agent took the bait, produced a very high quality brochure and sold the house for something like 25% over his original estimate. Effort or luck? Whichever, I paid him the extra commission very happily.

 

[aussie123]

yes eastlockside brighton marina hope this helps dave