ari
Well-known member
Viva la Revolucion!
Look forward to seeing it. /forums/images/graemlins/smile.gif
Look forward to seeing it. /forums/images/graemlins/smile.gif
Motorboat Brokerage
- Thread starter BrokerBen
- Start date
Renegade_Master
New member
"Oh, and the name of your company once you'd done that so I can put my boat up for sale for 20% too much and never have to clean or pay for berthing again".
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Sorry must be missing something (scratches head) maybe its too early in the morning.
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Sorry must be missing something (scratches head) maybe its too early in the morning.
Renegade_Master
New member
Did you not read my comments??? we dont sit on our backsides all day as you suggest /forums/images/graemlins/mad.gif
Try not to generalise, not all brokers are as you describe.
Try not to generalise, not all brokers are as you describe.
gjgm
Active member
one thing that seems accepted is the shabby financial side of it. Ok hopefully you are using approved contracts, but even so there s nothing to stop a broker going bust with your money- and no, client a/c doesnt stop that. No wonder some people want the money held by a solicitor and not the broker.
. Give all the info up front; no one wants to be told, oh, by the way... etc. Go through the whole buying process up front, so the buyer also knows whats expected of him too. Be knowledgeable about the boat, or at least return with an answer. Amazing how often I ve been told, er no idea what that is/where that is. Have ALL the paperwork ready for viewing, or at least be open about what paperwork there is/isnt. The seller may be paying you, but its actually the buyer you need to do the work for. That seems forgotten.
And if you cant get a decent boat with a decent seller at a decent price, why bother with them? No one is going to buy it anyway, and you simply weaken your own reputation. Leave the rubbish to someone else.
. Give all the info up front; no one wants to be told, oh, by the way... etc. Go through the whole buying process up front, so the buyer also knows whats expected of him too. Be knowledgeable about the boat, or at least return with an answer. Amazing how often I ve been told, er no idea what that is/where that is. Have ALL the paperwork ready for viewing, or at least be open about what paperwork there is/isnt. The seller may be paying you, but its actually the buyer you need to do the work for. That seems forgotten.
And if you cant get a decent boat with a decent seller at a decent price, why bother with them? No one is going to buy it anyway, and you simply weaken your own reputation. Leave the rubbish to someone else.
BrokerBen
N/A
I was hoping to avoid getting this too heated and turning into everybody's chance to insult their local brokers...
I am planning on many pictures and much information, along with a solid company being behind the whole thing so clients money is safe.
As a broker I want as many boats listed as possible, so I get more potential buyers looking at my listings. If I have to let owners overprice them to get them listed then so be it, once they dont get much interest I'll soon convince them of the actual value of their fine vessel.
I am planning on many pictures and much information, along with a solid company being behind the whole thing so clients money is safe.
As a broker I want as many boats listed as possible, so I get more potential buyers looking at my listings. If I have to let owners overprice them to get them listed then so be it, once they dont get much interest I'll soon convince them of the actual value of their fine vessel.
andyball
New member
[ QUOTE ]
As a broker I want as many boats listed as possible, so I get more potential buyers looking at my listings.
[/ QUOTE ]
nice idea if you want a rep as listing piles of overpriced unsold boats I spose - thought you were gonna be different? /forums/images/graemlins/tongue.gif
As a broker I want as many boats listed as possible, so I get more potential buyers looking at my listings.
[/ QUOTE ]
nice idea if you want a rep as listing piles of overpriced unsold boats I spose - thought you were gonna be different? /forums/images/graemlins/tongue.gif
apollo
...
More photos of the engine room, that is normally left out and tells the most of how the boat has been looked after!
Major Catastrophe
New member
[ QUOTE ]
Did you not read my comments??? we dont sit on our backsides all day as you suggest /forums/images/graemlins/mad.gif
Try not to generalise, not all brokers are as you describe.
[/ QUOTE ]
I have absolutely no knowledge of how you do it in Spain and my comments were reserved solely for the brokerages I have experienced in Wales and England.
Did you not read my comments??? we dont sit on our backsides all day as you suggest /forums/images/graemlins/mad.gif
Try not to generalise, not all brokers are as you describe.
[/ QUOTE ]
I have absolutely no knowledge of how you do it in Spain and my comments were reserved solely for the brokerages I have experienced in Wales and England.
BrokerBen
N/A
More engine room photos are no problem at all!
There WILL NOT be piles of over-priced boats on the listings, as I intend on keeping in regular contact with vendors and if there's no movement with their boat I'll be suggesting price drops where appropriate, or suggesting other incentives which may encourage a buyer to take an interest.
Once the boat is listed and the paperwork is out of the way regarding agreements to act and the likes, the real selling can begin. I will be very active in my marketing and will make sure boats do not sit on the books for months with no movement.
There WILL NOT be piles of over-priced boats on the listings, as I intend on keeping in regular contact with vendors and if there's no movement with their boat I'll be suggesting price drops where appropriate, or suggesting other incentives which may encourage a buyer to take an interest.
Once the boat is listed and the paperwork is out of the way regarding agreements to act and the likes, the real selling can begin. I will be very active in my marketing and will make sure boats do not sit on the books for months with no movement.
Gludy
Active member
Your intentions of not lettuing the boats sit there for months mayu be genuine but have you actually had any experience of this that would make your brokerage different?
As regards client accounts:-
I have recently been involved in the selling of a boat where because of history the broker had to sell the boat for zero fee and insisted on paying, proceeds into a client account. Because that particular broker cannot meet their current debts ( a fact I can demonstrate beyond doubt), I asked for an escrow account that required both our signatures to draw from but allowed just his signature if the money was being returned to the seller - I got a total, point blank refusal. In the end the problem was hopefully avoided by me selling a boat on one week flat that he had not sold in two years!
Whilst I cannot tar all brokers with the same brush and accept Sun Coats p[oint, ,y experience to date of every deal is that I have yet to do a deal that the broker has not messed up in some way. In once case the buyer paid the full amount and they forget to ask him to sign thereby claiming they could withhold the money to me until he returned from a long cruise!!!
So how can anyone know how safe their money is with you - a new business?
As regards client accounts:-
I have recently been involved in the selling of a boat where because of history the broker had to sell the boat for zero fee and insisted on paying, proceeds into a client account. Because that particular broker cannot meet their current debts ( a fact I can demonstrate beyond doubt), I asked for an escrow account that required both our signatures to draw from but allowed just his signature if the money was being returned to the seller - I got a total, point blank refusal. In the end the problem was hopefully avoided by me selling a boat on one week flat that he had not sold in two years!
Whilst I cannot tar all brokers with the same brush and accept Sun Coats p[oint, ,y experience to date of every deal is that I have yet to do a deal that the broker has not messed up in some way. In once case the buyer paid the full amount and they forget to ask him to sign thereby claiming they could withhold the money to me until he returned from a long cruise!!!
So how can anyone know how safe their money is with you - a new business?
BrokerBen
N/A
It's not a new business, just an existing boat sales outfit expanding into brokerage /forums/images/graemlins/wink.gif
I have had experience of being different, I was involved in training Boatshed franchisees and running a Boatshed office until it was sold. I did very well at this and intend on doing even better this time round.
As a customer if you are looking for a boat, particularly on the internet, if a broker has very few boats listed you are unlikely to find them easily. Likewise for people looking around boat yards and marinas, the Broker with more listings will draw in more people.
I plan to list as many boats as possible, with as much variety as possible to get the greatest spectrum of people through the doors, which is one of the most important aspects of sales. Need people through the door in order to sell something to them /forums/images/graemlins/wink.gif
I have had experience of being different, I was involved in training Boatshed franchisees and running a Boatshed office until it was sold. I did very well at this and intend on doing even better this time round.
As a customer if you are looking for a boat, particularly on the internet, if a broker has very few boats listed you are unlikely to find them easily. Likewise for people looking around boat yards and marinas, the Broker with more listings will draw in more people.
I plan to list as many boats as possible, with as much variety as possible to get the greatest spectrum of people through the doors, which is one of the most important aspects of sales. Need people through the door in order to sell something to them /forums/images/graemlins/wink.gif
Andrew_Fanner
New member
Re photos, the way that Boatshed work with those is pretty good IMO. Looked at several possibles over the last few months before buying Jedi and found the photo thing very useful, also thw willingness to send extra ones of specific features on request.
As for the client account thing, in this day and age if the buyer pays electronically I don't see why I should not receive in the same way, and indeed within 24 hours.
As for the client account thing, in this day and age if the buyer pays electronically I don't see why I should not receive in the same way, and indeed within 24 hours.
BrokerBen
N/A
CHAPS and BACS cost money, but in the case of higher value boats it wouldn't be an issue. I imagine for all transfers here instant-ish electronic transfers can be arranged.
A standard bank transfer still gets lost in the system for a couple of days, which is down to banks wanting to make some money out of their customers over and above giving a decent service.
Boatshedders take a number of pictures and they all go up on the site. If you require more they do go and get them, as I am doing here /forums/images/graemlins/wink.gif
Just putting in some genuine effort will make a huge difference I believe, and being pro-active, not believing myself above the station of sellers, and treating everybody how I would like to be treated myself, regardless of the state of their boat.
Afterall, we all have to start somewhere!
A standard bank transfer still gets lost in the system for a couple of days, which is down to banks wanting to make some money out of their customers over and above giving a decent service.
Boatshedders take a number of pictures and they all go up on the site. If you require more they do go and get them, as I am doing here /forums/images/graemlins/wink.gif
Just putting in some genuine effort will make a huge difference I believe, and being pro-active, not believing myself above the station of sellers, and treating everybody how I would like to be treated myself, regardless of the state of their boat.
Afterall, we all have to start somewhere!
D
Deleted User YDKXO
Guest
I am constantly amazed that peeps who would ordinarily manage their financial affairs in a cautious and diligent manner happily allow hundreds of thousands of pounds of their own money to pass through the hands of tinpot brokerage companies during the process of selling their boats. Even so called client accounts are no protection from fraudulent misappropriation as brokers have access to these accounts on their own signature only
IMHO, there are only 2 ways of reducing your risk. Firstly, as you tried to do, setting up a proper separate escrow account for your transaction only or the buyer paying the seller directly less the broker's commission which is paid direct to the broker. I've used this latter method once when buying a boat through a foreign broker which IMHO is an even riskier situation than using a UK one
IMHO, when selling a boat, it is far more important to choose a broker in whom you have confidence to deal with the money side honestly than to choose one solely because his commission rate is a bit less.
IMHO, there are only 2 ways of reducing your risk. Firstly, as you tried to do, setting up a proper separate escrow account for your transaction only or the buyer paying the seller directly less the broker's commission which is paid direct to the broker. I've used this latter method once when buying a boat through a foreign broker which IMHO is an even riskier situation than using a UK one
IMHO, when selling a boat, it is far more important to choose a broker in whom you have confidence to deal with the money side honestly than to choose one solely because his commission rate is a bit less.
Andrew_Fanner
New member
[ QUOTE ]
CHAPS and BACS cost money, but in the case of higher value boats it wouldn't be an issue. I imagine for all transfers here instant-ish electronic transfers can be arranged.
[/ QUOTE ]
I bought Jedi with a Switch card. The buyer bough All Gold with a Switch card. I see no logical reason why my payment from the boat sale cannot be by Switch refund. Process takes seconds. One assumes that the brokerage rates are not seen as negotiable by the broker and, to be honest, to get the dosh the day of sale would you make a vast fuss unless you were very sure of your ground. I know I'd be less inclined to make one. And the buyer gets to take the keys and go, rather than waiting for a cheque to clear.
I don't sell boats for a living, so what do I know?
CHAPS and BACS cost money, but in the case of higher value boats it wouldn't be an issue. I imagine for all transfers here instant-ish electronic transfers can be arranged.
[/ QUOTE ]
I bought Jedi with a Switch card. The buyer bough All Gold with a Switch card. I see no logical reason why my payment from the boat sale cannot be by Switch refund. Process takes seconds. One assumes that the brokerage rates are not seen as negotiable by the broker and, to be honest, to get the dosh the day of sale would you make a vast fuss unless you were very sure of your ground. I know I'd be less inclined to make one. And the buyer gets to take the keys and go, rather than waiting for a cheque to clear.
I don't sell boats for a living, so what do I know?
BrokerBen
N/A
We certainly make sure the money is cleared into the vendors account on the day of purchase. We also will take the hit on fees, which isn't too great a strain, I just thought I would put across both sides...
Also, many people buy boats on finance, which takes time and it's usually the banks lending the money that decide to take ages to get it sent unless you specifically instruct them to do it quickly.
Luckily here we have an excellent relationship with marine lenders and things are turned around without fuss and very quickly.
Also, many people buy boats on finance, which takes time and it's usually the banks lending the money that decide to take ages to get it sent unless you specifically instruct them to do it quickly.
Luckily here we have an excellent relationship with marine lenders and things are turned around without fuss and very quickly.
D3B
New member
Ben
You have no information in your profile......it doesnt have to be completed.....but would you like to hint where this "new" brokerage is?
Doug
You have no information in your profile......it doesnt have to be completed.....but would you like to hint where this "new" brokerage is?
Doug
thefatlady
Well-known member
Another point. In spite of your efforts to have as large a listing of boats as possible, please, please remove ones that are sold.
I see many still advertised which I know (and the broker knows) have been sold months (sometimes over a year) earlier. Presumable they are left to create an impression of a large brokerage. In reality, they give an impression of, at best, incompetence, at worst, untrustworthiness.
I see many still advertised which I know (and the broker knows) have been sold months (sometimes over a year) earlier. Presumable they are left to create an impression of a large brokerage. In reality, they give an impression of, at best, incompetence, at worst, untrustworthiness.
BrokerBen
N/A
The internal system here is tied into the website etc, so when we mark a boat as sold it is gone within a few hours usually sooner.
I am doing this on the Hamble, and I think i'll be putting up details of a giant party we're organising in Island Harbour up here for all the attend who would like too after all of the great input we have had.
Thanks
Ben
I am doing this on the Hamble, and I think i'll be putting up details of a giant party we're organising in Island Harbour up here for all the attend who would like too after all of the great input we have had.
Thanks
Ben
gjgm
Active member
the internet bit can only go so far.. its not a dishwasher I would be ordering. My experience with Boatshed was that I never got a response on a single enquiry I ever made. I think some points that have been made, you dont mind hearing, and others you dont seem to want to address.
As it happens, I was fortunate last to deal with an excellent and professional broker. Still, to repeat, the financial side of this business is appalling weak. I can assure you that the amount I was paying to the brokers client account was multiples of the assets listed at Companies House for the brokerage company. The protection from the client acc assumes there is a business left to claim it back from if it goes missing. Not surprisingly, if things are at the stage someone is dipping into the client accounts, the firm probably isnt going to be around anyway. And just because you might have a bigger company behind you, you are being a little naive perhaps to think big companies dont go bust either!
Still, good luck with the venture.
As it happens, I was fortunate last to deal with an excellent and professional broker. Still, to repeat, the financial side of this business is appalling weak. I can assure you that the amount I was paying to the brokers client account was multiples of the assets listed at Companies House for the brokerage company. The protection from the client acc assumes there is a business left to claim it back from if it goes missing. Not surprisingly, if things are at the stage someone is dipping into the client accounts, the firm probably isnt going to be around anyway. And just because you might have a bigger company behind you, you are being a little naive perhaps to think big companies dont go bust either!
Still, good luck with the venture.