Offer on brokerage boat

[SilverTT]

If your selling your boat on brokerage for between 90 - 120k and someone made an offer 15k less would you want company to let you know so you can decide.
Last year i made an offer on two boats. both offers about 15k less than asking price. One broker not happy requesting i come back when i'm serious. 12 and 9 months later boats still on market. Both reduced in price to nearer my offer.
As an owner would you want to be told about all offers. I know the broker is there to save you the trouble of tyre kickers wasting your time. but where do you draw the line.

 

[Phoenix of Hamble]

Thats crazy..... a £15k reduction on a £120k boat would be about par for the course I would have thought......

 

[clivew05]

I suppose that it depends on the circumstances of the sale - if the broker knows that the boat is worth say 100K and he also knows that the finance outstanding on it is 92K then he is not going to accept a 15K reduction or even bother asking the client if this is ok - now at 1K a month payment in 8 - 9 months there is a sufficient margin to drop the sale price ....

So I guess the real answer to the question is the circumstances of the sale and payment arrangement really ...

 

[Whitelighter]

I would want to know about all offers. It's my boat and my descision at the end of the day. If I found out an offer hadn't been put forward I would be furious.

On £120k boat I would think they would take it. (0k, ok you might get away with 10k, but at least it shows you WANT to buy the boat, which is the biggest hurdle after all.

 

[SilverTT]

I presume brokers charge for storage whilst selling. On a 37ft that must be a few grand. Surely this should be taken in to consideration when an offer is made. Quicker it sells less storage.
Also mentioned a mortgage repayments. Your paying for something thats sat on the hard so you can't use it. Why keep paying why not sell it. Something is only worth as much someone is willing to pay for it.

 

[Richard10002]

[ QUOTE ]
If your selling your boat on brokerage for between 90 - 120k and someone made an offer 15k less would you want company to let you know so you can decide.

[/ QUOTE ]

Almost certainly!

In estate agency there is a legal requirement to put all offers to the seller in writing, unless the seller had expressly confirmed otherwise in writing.

The main reason for this was to prevent unscrupulous agents "ring fencing" a property and selling it cheap to their mates. However, it also meant that the seller was able to make their own decisions based on their own knowledge of their own situation.

The same should apply to brokers!

having said that, if the seller has just rejected a similar, or higher, offer, the broker may well be justified, but should tell you the reason.

In addition, I actually lost a few houses where I put a very low offer to a seller, even though I knew it would be rejected, and said so.... you cant win 'em all.

 

[SilverTT]

You need to start your offer somewhere. They are not saleman. If you already want it the sales already done, you just have to agree the price.

 

[mainshiptom]

offer 15k less now and see what happens ? I say they will take it !


Tom

 

[Deleted User YDKXO]

Amazing. I would have thought that the broker has a legal obligation to pass on all offers and an offer within 15% of the asking price is certainly a serious offer. I would try to contact owner direct or leave a note on the boat

 

[gibbowolfie]

I'm sure they do have a legal requirement. I made an offer which the broker didn't think was acceptable but said he had to give it to the client. I was luckt boat had been overpriced and on market a while so my offer was accepted.

Of course the broker could have been telling me porkies.

 

[Aardee]

Can the owner not make an agreement with the broker "Don't bother me with offers under £xxxxx"??

 

[duncan]

yep he could - basically it's an issue between the seller and his agent.

if you had comunicated the offer in writing at the time I would consider making contact with the owner now and asking if he was aware you had offered that price then - possibly cause to boot the broker into touch now and doing a direct deal IF the broker hadn't been acting in the interests of the seller etc

 

[clivew05]

As a seller I am sure that I would want to know if someone was interested in my boat - even if the offer was too low - however as I have said before - it all depends on the circumstances as to if 15K is a reasonable discout for acceptance (I guess a different question) - certainly my boat would be reasonably priced at £100K, as thats the sort of figure that is worth in todays market - however if someone offered me £85K for it that would not cover the outstanding mortgage and the borkerage costs - so the answer would have to be sorry I need £100K ..... this may be the case in other sales positions too (I am not selling my boat though as I am very very happy with it /forums/images/graemlins/grin.gif) .... However I will bear this thread if and when I do come to sell it - as I will need to add 15K to the price to accomodate a reduction of same /forums/images/graemlins/grin.gif

Clive

 

[mjf]

Would agree with others. brokers whether estate agents, ship brokers or yacht brokers have a duty to pass on offers and expressions of interest to the principal.

 

[SilverTT]

If you add in 15% so you could drop you may not even be considered as your over priced.

Glad your happy your boat.

 

[SilverTT]

How do you get hold of owner if boat is on brokerage.

 

[clivew05]

[ QUOTE ]
If you add in 15% so you could drop you may not even be considered as your over priced.

[/ QUOTE ]

Very true but not to do it would be futile - and the idea of selling in my case would be to get a bigger one - and that wont happen on a 6K deposit me thinks - so need equity in the boat - either the buyer likes it and will pay whats asked - or he does not and will leave it - its down to the buyer I guess - re getting in touch with the owner you could try asking the broker if you can contact them to find out a little more about the boat - I did and was given the owners phone number after the broker agreed with the seller that I could!! Dont think that it would be a problem if you didnt mention the money thing in your convo? /forums/images/graemlins/wink.gif

 

[Nautorius]

James,

I have come across brokers not passing on my offers in the past and they use the excuse that "the owner will not accept less than £80k."

I always thought they had to pass all offers on ...but in reality if they think you are a fender kicker they ignore you!

I once turned up in a banged up Ford Focus with Jeans and T shirt and was treated with contempt when discussing actual price I thought a boat was worth. Other time turned up in Suit and Jag and got a very different response (same broker different salesperson) The Dealer/Broker subsequently went bust!

I think it is down to how serious they think you are. My boat is up and I want to listen to all offers. I just turn them down but do get a feeling what the market is willing to pay.

Cheers and all IMHO

Paul /forums/images/graemlins/smile.gif

 

[Richard10002]

When I was looking for a Moody 44, anything asking over about £130K remained on the market for the whole 3 years I was looking.

Anything sub £120K dissappeared pretty quickly, (assumed sold), and anything sub £130K dissappeared over a reasonably short period, (2-3 months).

My assumption is that in a reasonable market with buyers and sellers, boats will sell for their value, whatever the asking price, excluding the obvious cheeky offers.

I would guess that most Moody 44s sold for around £115K to £125K during the period I was looking, (apart from the one in Croatia which was asking £110K and was marked sold within days of appearing.

Always found the same with houses..... If it was priced right it sold fairly quickly. If it was priced below market value, it attracted loads of offers, and often sold for much more than expected. If the price was too high, it either got reduced over time, was withdrawn from the market, or the market rose to accommodate the previously inflated price and it sold.

I guess what I am saying is that adding 15% to take it off isnt necessarily a good idea, as it may discourage some serious buyers.

 

[Pinnacle]

Just bought one at 30% below asking. /forums/images/graemlins/grin.gif

I think the vendor was one of those described in the trade as "very motivated".

Looks to me like you are being very serious/generous....