Strange Brokers

hlb

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In my contract with a broker It says they want 28 days notice if I wanted to use another broker as well and wanted the name of the other broker.

Fair enough.

I was a bit disappointed with there slap dash approach, of just copying and pasting other folks adverts into their web site, resulting in misinformation.


So I emailed them.


Hi.

I wish to also appoint Boat Shed as an additional agent to sell Meekatharra.

Regards

Their reply.

Re: Meekatharra - Princess 35

Thank you for your email regarding Meekatharra.

Unfortunately we are not prepared to co-list your boat with Boatshed so will take steps to remove her from our listings forthwith.

We would like to wish you all the best in securing a buyer for your boat in the near future, however please feel free to contact us again if you are unable achieve a sale with Boatshed.

Best regards.

Seems a bit odd to me.:confused:
 

benjenbav

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In my contract with a broker It says they want 28 days notice if I wanted to use another broker as well and wanted the name of the other broker.

Fair enough.

I was a bit disappointed with there slap dash approach, of just copying and pasting other folks adverts into their web site, resulting in misinformation.


So I emailed them.


Hi.

I wish to also appoint Boat Shed as an additional agent to sell Meekatharra.

Regards

Their reply.

Re: Meekatharra - Princess 35

Thank you for your email regarding Meekatharra.

Unfortunately we are not prepared to co-list your boat with Boatshed so will take steps to remove her from our listings forthwith.

We would like to wish you all the best in securing a buyer for your boat in the near future, however please feel free to contact us again if you are unable achieve a sale with Boatshed.

Best regards.

Seems a bit odd to me.:confused:

Well at least you got a reply and it seems fairly clear that they don't want your business. I would check the t's and c's to see if there's any possibility of them claiming a fee if you do sell through the new broker, though.
 

Philiz

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I reckon it's because they know that Boatshed are more likely to be successful in selling it.

Incidentally, we had a run over to Puffwelly on Friday. All the boats we were looking at there before Christmas have now been sold by Boatshed and Dickies
 

Searush

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I'd consider sending them a letter saying that you are disappointed that they are no longer willing to help you sell your boat &, as the decision is theirs, that they consequently cannot benefit from any subsequent sale.

I guess that the poo will hit the fan if the ultimate buyer turns out to also be on their listings, when they may claim to have introduced them to the boat before they withdrew.
 

hlb

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I'd consider sending them a letter saying that you are disappointed that they are no longer willing to help you sell your boat &, as the decision is theirs, that they consequently cannot benefit from any subsequent sale.

I guess that the poo will hit the fan if the ultimate buyer turns out to also be on their listings, when they may claim to have introduced them to the boat before they withdrew.


But they've pulled out before I've given it to boat shed, I was only considering it before. Now I've no option.
 

hlb

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Doesn't matter, check the small print of anything you signed with them.


1. The owner authorizes the broker to offer for sale the vessel
For the gross price (inclusive of commission) of £65,000…………………………………………….
And, subject to clause 2 hereof, agrees that should the vessel be offered for sale through another broker or in any other way then;
a) The asking price shall not be less than the above price, nor in terms less onerous than those instructed by the owner to the broker or any variation thereof subsequently agreed between the owner and the broker.
b) The identity of the broker(s) shall be disclosed to the broker by the owner.

(NAME OF OTHER BROKERS)… N/A………………………………………………………………………………………………………………….
2. The owner
a) Agrees to sole agency for the broker until expiration of 28 Twenty Eight Days notice in writing, which notice shall contain such information as required in clause 1(b) hereof).
3. The owner agrees to pay the broker commission, on the contract price in accordance with the British Boating Industry Code of Practice (see notes hereunder), should the broker introduce a prospective purchaser who contracts to buy or who’s nominee contracts to buy the vessel, the owner further agrees that all negotiations with such prospective purchasers (or their nominees) shall be through the broker. The broker shall be entitled to half commission on the agreed selling price where a purchaser defaults after agreement and his deposit is forfeit.
4. The owner warrants that there is no marine or maritime mortgage, statutory or other lien and that the vessel is free from all encumbrances save as detailed hereon. (Please Print name of finance company or any other lender below, if none please state)

Finance Lender…N/A……………………….. Mortgage Acc No……N/A…………………………………

5. Without prejudice to any subsisting rights of the broker or the owner under this agreement, either party may terminate this agreement on giving twenty eight days notice at any time to the other.
6. The owner agrees to keep the vessel fully insured from the date of this agreement to the date of sale, or to the date of termination of this agreement, such insurance to cover all viewing and sale arrangements, including sea trials and slipping for survey.
7. The owner agrees to inform the broker should the vessel be lost, stolen, abandoned, broken up, sold or otherwise disposed of, and if sold, agrees to provide the sale details including the purchasers name and address.
8. This agreement and any contract to sell the vessel arranged by the broker shall be subject to British Law without reference to the country of origin or residence of the owner or the purchaser, or the country where the vessel may be lying.
9. The owner declares that
a) to the best of his knowledge and belief the particulars given to the broker are correct.
b) he has the power to dispose of the vessel with concurrence of any joint owner or mortgage or hire purchase company, or company or individual having lien on the vessel;
c) all known defects have been declared.
10. The owner agrees to indemnify the broker should any of the warranties, agreements and information provided, made or given by the broker or owner be incorrect or broken, to the full extent of all costs, disbursements, liabilities, and damages suffered by the broker as a result.


All I can see, is that there in breach of contract, because they were supposed to give 28 day notice to pull out.

They said "Forthwith".
 
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Stork_III

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I would send Broker written confirmation of his termination of Agreement and ask for his confirmation of the names of any prospective purchasers that he has introduced to cover any future request for commission under cl3.
 

Richard10002

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I would send Broker written confirmation of his termination of Agreement and ask for his confirmation of the names of any prospective purchasers that he has introduced to cover any future request for commission under cl3.

He may well be an honourable guy and mean what he says. However, the agreement definitely gives him sole agency until 28 days after you have given written notice in the format specified.

For the sake of good order, and to get the monkey off your back, I would give said written notice and I would probably withdraw it from boatshed until the 28 days are up - apologosing and telling them why.

If he's an honourable guy, you've lost 28 days of selling time. If he's a shyster, you've saved paying your fee twice.

If he's a shyster and bills you if he finds out you've sold, you could obviously argue that he withdrew and frustrated the clause.... but why risk the potential hassle of having to defend against it.

If you're not bothered about paying twice, or arguing the toss after the event, (you might enjoy it :) ), but having trusted the word of a few too many people in my 50 years, I'd be covering my bases.

Just my 2 penn'orth

Richard
 

PaulGooch

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3. The owner agrees to pay the broker commission, on the contract price in accordance with the British Boating Industry Code of Practice (see notes hereunder), should the broker introduce a prospective purchaser who contracts to buy or who’s nominee contracts to buy the vessel, the owner further agrees that all negotiations with such prospective purchasers (or their nominees) shall be through the broker. The broker shall be entitled to half commission on the agreed selling price where a purchaser defaults after agreement and his deposit is forfeit.

Apparently, there are no bad brokers. None are dodgy or shady in any way. Or so i was told recently.
 
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