The broker just 'phoned
- Thread starter iangrant
- Start date
CoVianna
Well-Known Member
Random Thoughts
Based on his valuation then the offer is way too low.
Even based on a realistic £105,000 it appears too low.
Hopefully the Broker will have explained to the potential purchaser the price reduction in the "right" way. i.e. "the boat is for sale by a keen but not desperate seller and as such he has reduced the asking price to a sensible level below my original recommended asking price. I'd be surprised if he accepted."
The Broker does have a legal duty of care to report all offers no matter how low or ridiculous.
Sole Brokerage is no bad thing. It means the Broker is working directly for you. I could explain why from an estate agency point of view but it would be long and boring!
My job is a lot easier these days compered to pre internet days. Rightmoveplus, NetHousePrices etc give me a large database of actual property sales (not asking prices) to base my valaution on. Boats obviously don't have the same numbers or Database information. That is where a good Broker can be worth his weight in gold with regard to a valuation.
Now consider this.
How soon do I need to sell?
What do I expect the market to do within my timescale?
Do I give my Broker a timescale to work to and then I will move my business to another Broker or go multi-listing?
Did you take bridging finance to purchase your new boat? If so how much is it costing you and might it be worth cutting your losses etc?
Well the is my two pennarth(?!) worth.
Sorry if I bothered you but Brokers are a bit of an issue with me! I will now get down off my soapbox!
Based on his valuation then the offer is way too low.
Even based on a realistic £105,000 it appears too low.
Hopefully the Broker will have explained to the potential purchaser the price reduction in the "right" way. i.e. "the boat is for sale by a keen but not desperate seller and as such he has reduced the asking price to a sensible level below my original recommended asking price. I'd be surprised if he accepted."
The Broker does have a legal duty of care to report all offers no matter how low or ridiculous.
Sole Brokerage is no bad thing. It means the Broker is working directly for you. I could explain why from an estate agency point of view but it would be long and boring!
My job is a lot easier these days compered to pre internet days. Rightmoveplus, NetHousePrices etc give me a large database of actual property sales (not asking prices) to base my valaution on. Boats obviously don't have the same numbers or Database information. That is where a good Broker can be worth his weight in gold with regard to a valuation.
Now consider this.
How soon do I need to sell?
What do I expect the market to do within my timescale?
Do I give my Broker a timescale to work to and then I will move my business to another Broker or go multi-listing?
Did you take bridging finance to purchase your new boat? If so how much is it costing you and might it be worth cutting your losses etc?
Well the is my two pennarth(?!) worth.
Sorry if I bothered you but Brokers are a bit of an issue with me! I will now get down off my soapbox!
Boo2
Well-Known Member
Yes, it's arguable either way isn't it ? My personal feeling is that if you return with a different offer that has more of an effect of keeping the ball rolling - if you just say "no" then that could stop things in their tracks.
'Sup to you...
Boo2
iangrant
Well-Known Member
iangrant
Well-Known Member
yankeebloke
Well-Known Member
interesting insite into the whole, buying selleing mentality!
please keep us updated
please keep us updated
gjgm
Well-Known Member
I think some feel that in moving too early you are just begining to salami slice your price, so I think you need to add some verbal encouragement too if you choose that route. But I agree there wont be much progress if you dont keep talking.
PCUK
Well-Known Member
I'd want to talk to the buyer personally. Never liked doing deals through third parties. Bought my last house by keeping in contact with buyer and seller in the chain as did everyone else. Broker still gets his cut but you get to know exactly what the buyer has in mind and with a good rapport there is a much better chance of achieving a deal that everyone is happy with.
BoyBlue49
Well-Known Member
Traditionally the selling season has yet to arrive, as has been said, most people are still out sailing on their existing yachts.
October to March is to my mind the time I would look for a boat to buy.
As for the brokers commission 8% seems very high, 6% is a more realistic starting point which still gives £6000 on your price. If he is worth his salt he will try to make a deal trimming his commission and upping the purchasers offer. After all £3000 is better than nothing at all.
I am sure you can twist his arm to include what little electricity and storage fees you incur. If you walk away with £95000 in your pocket you have sold at rock bottom price, I would hazard a guess that the value is nearer £98000 in your pocket. Don't forget you are in charge.
A little more feed back would be a good idea or is he the silent type.
'Hope your prospective purchaser isn't reading this thread !
October to March is to my mind the time I would look for a boat to buy.
As for the brokers commission 8% seems very high, 6% is a more realistic starting point which still gives £6000 on your price. If he is worth his salt he will try to make a deal trimming his commission and upping the purchasers offer. After all £3000 is better than nothing at all.
I am sure you can twist his arm to include what little electricity and storage fees you incur. If you walk away with £95000 in your pocket you have sold at rock bottom price, I would hazard a guess that the value is nearer £98000 in your pocket. Don't forget you are in charge.
A little more feed back would be a good idea or is he the silent type.
'Hope your prospective purchaser isn't reading this thread !
iangrant
Well-Known Member
Didn't say much
The broker didn't actually say much, other than it was a very low offer.
Feeling a little warmed by the feedback on here that the season for selling is coming not going!
oh and yes that would be interesting if the prospective purchaser is reading this
Ian
The broker didn't actually say much, other than it was a very low offer.
Feeling a little warmed by the feedback on here that the season for selling is coming not going!
oh and yes that would be interesting if the prospective purchaser is reading this
Ian
Thepipdoc
Well-Known Member
Am I being really silly here or am I the only person that thinks posting on an internationally renowned forum such as this, that you have received an offer on your boat and then go on to name the manufacturer of the boat is not the wisest move the vendor could have done?
Let's face it, buying or selling anything that hasn't got a fixed price i.e. a boat, is like playing a game of poker - Both the seller and the buyer want to get the best price possible and by laying the cards on the table for all to see is rather naive. I haven’t been around the boating world for very long but one thing that’s very obvious and that is the boating fraternity is very small. You can be almost certain that your prospective purchaser is looking at this forum and that the odds on you winning this game have diminished considerably!
Even if the purchaser hasn’t (yet) stumbled on this post, there’s every chance that a friend of his (or hers) will have, and they will talk.
We constantly read that there’s an unbelievable amount of private data out “there” in cyber world, and that inevitably some of this data which would previously have been kept private is coming back to haunt the people concerned.
This, I would suggest is one such example.
Perhaps I’m just being cynical but I know if I were the prospective purchaser of the Jeanneau 45.2 1999 in question, I would be a happy chappy knowing that the boat I’m wanting to buy is up for grabs at a price considerably less than it currently advertised for.
