Trust a broker, a warning.

[JeffBoath]

I recently purchased an Invicta 26 through a well known broker in the South and felt utterly flabbergasted by thier conduct, initially I made an offer which I was told was unacceptable, I then increased my offer pending confirmation regarding the engine, they replied the engine was fitted in 2004 and had "very few" hours. At this point I managed to get a hold of the selers Tel No., he pointed out that he never ever stated that and the engine was fitted around 1998 with many hours running time. During the phone call we also agreed a price including the broker commision. The following day the broker called back statiing that the seller's bottom line on price, which was considerably higher than the price I had agreed with him on the phone. When I pointed this out their was a stoney silence then he said he would get back to me. I concluded the deal with the owner who was honest and polite and never heard from the broker again. This is the first time I've dealt with a broker and I;ve been left with a bitter taste in my mouth, I don't suppose I'll be allowed to mention the brokers name which is a shame because my opinion is they should be avoided like the plague.

 

[Hermit]

Jeff, I have just had a very similar experience with a broker whilst buying a boat. Getting information was like pulling teeth.
When I finally met the owner after the sale he also said he was disgusted wiht the conduct of the brokers and would never go near them again. S D Marine of Hamble Point. I have dealt with a number of brokers over the years but this shower are certainly the worst.
Rob

 

[Sans Bateau]

I am sorry to hear of your experience with SD Marine, totaly out of character. I have bought 2 boats through them and sold one. I have known them for many years and they are one of the best, most trustworthy brokers I know.

Phone them, speak to Roger and tell him of your problems, he will realy want to know.

 

[Richard10002]

Jeff,

The engine thing is bang out of order, and makes the broker the bad guy, so the following probably doesnt apply to him.

However, I can imagine brokers being given a bottom line by sellers, then giving a higher bottom line to buyers - on the basis that buyers will often try less than "the bottom line", so declaring a higher bottom line ends up with an offer around the true bottom line.... I used to do this with houses which I found was a bit of a psychological game.

Alternatively, there is no point in giving the store away immediately.... You can imagine a dissappointed seller sying "I told him my absolute bottom line, and he didnt even attempt to sell it for more", so the broker is kind of damned if he does and damned if he doesnt.

I also always tried to get at least my fee, over and above a sellers bottom line, if only to justify it.

I often had a strategy for each potential buyer which i believed would work. If the buyer got hold of the seller and the seller didnt tell me about their discussions, it would often cock up my strategy - left to do my job, I usually got more for a seller than they would get themselves.

I suspect boat brokers, like estate agents, sometimes cant do right for doing wrong.

But the engine thing was bloody stupid, and there was probably no going back from that.

 

[bobgoode]

A possible reason for mis-information may be due to shooting from the hip. In the middle of a job and the phone goes, buyer asking and broker giving info but getting confused, what with so many boats on the boks. A reason, but still no excuse...just human nature.

 

[Sea Devil]

I had a problem with Michael Schimt Brokers also at Hamble Point Marina. I made a £100,000 + offer on a yacht listed with them via some woman who was apparently the only broker on duty at the time... Had a conversation with her about boats and the one I was bidding on..... made certain she had my email and telephone number etc..
She never came back to me...!!!! Never told me the offer had not been accepted.. couldnt even be bothered to email me.... Makes me feel I would tend to avoid them in the future if possible.
I found the boat had been sold to someone else a few days later...
Just plain bad manners. I have had excellent dealings on the other hand with Multihull Centre and Multihull world both of whom are considerate, helpful and very fair in their dealings.
Michael

 

[petie]

Sold my recent dover based nimbus through a franchise broker who told buyer and seller a pack of lies with the aim of maximising his commission. When the handover date came he told me the cheque "was in the post" and did not understand, to quote him,whyI was being so picky as not to release title without first receiving payment. Seller beware.

 

[JeffBoath]

With refernce to my original post, others seem to be able to mention the name of brokers they have had bad experiences with I will too, it was Boatshed Suffolk. STEER CLEAR would be my advice.

 

[Marmalade]

I have had both positive and negative experience with brokers. The guys currently selling my boat seem OK. It's a business, however, with very little in the way of start up costs, no qualifications required, almost no regulation beyond that which common law provides. Given this there are bound to be some cowboys.

Simon

 

[PeterGibbs]

Concerning the big reveal: I think one of the most valuable services this forum can provide is sharing actual examples of good and bad practice. And naming the company involved.

For the record, provided what is said about a supplier is factual and supportable, it ranks as fair comment; there can be no grounds for defamation. Of course, this might not prevent some "named and shamed" from threatening action, but forumites should have no concerns about bluster.. in fact it is good practice to tell us all when bluster and deceit are employed to conceal a wrongdoing or lack of service. And there is apparently no shortage of examples of this in our industry.

PWG

 

[FAITIRA]

Sympathise Peter, have had similar experiences to the others posted, but in my experience, they arn,t all bad, I sold a 44ft Roberts through, "WILLIAMS and SMITHALLS", the boat was in Portugal, up the creek (R Guadiana), they were excellent, I reduced the price, they reduced the commision, they earnd their cut. I have since recommended them to others who have been completely satisfied.

 

[PeterGibbs]

Bill,

Good stuff - more!

PWG

 

[piscis]

I have had several dealing with SD Marine and I have always been treated by them in a professional manner. I agree with
Galadriel's comment about phoning them.

 

[happyboater69]

I sold by last boat through the old Peters Opal office in Chichester Marina and the brokerage guys there were excellent even to the point they cleaned the boat before a viewing at no charge and got a good price for me.

I am currently looking for a boat and did three viewings over the weekend....

The new Opal at Chichester were excellent
Ancasta Port Solent were also good if slow at first
Ancasta Hamble fairly uninterested and the worst of the bunch

Had some previous viewing through Boatshed and find there gusy operate out of there houses or cars and so think they are a bit behind the curve.

All in all never had a horrible brokerage experience - touch wood!!

 

[wotayottie]

I've no reason to think that any broker I've dealt with is any more dishonest than the vendor himself. To the contrary, the broker has an interest in getting a reasonable reputation. The private seller has no such interest so some will be honest but many will not.

 

[Shearwater]

So presumably there is a good case for selling privately through Internet free to ad postings? Bewildered. I need to sell one boat to buy a higher valued upgrade. Think maybe I'll go to one of the posher ones and pay thier commissions to have peace (piece?) of mind. Anyone want a Legend 235 with a Hunter 232 to swap- cash either way?

 

[PaulR]

sold and bought through brokers and privately and inevitably had good and les good experiences but no real problems so far - yet to buy through berthon at lymington but impressed by their staff and approach - have sold and bought through specific individual at ancasta and positive experience, have bought through sea ventures and found them good but sadly less impressed recently when having viewed a boat they had on - was advised by them that it was under offer with that party having first option - then I viewed it twice and confirmed would want to offer if first refusal person didn't proceed and heard nothing at all since - shame they couldn't take the moment to call or email and let me know it had gone which I would have thought would have been normal and good practise,