Brokers

[piratesholly]

So I went to look at a boat with a broker. The boat was in excellent shape. But in my opinion way over priced. So doing my research on that same year make and model on the internet and NADA I came up with a offer that was on the high end of the internet prices and above NADA average resale. The boat had been surveyed and my offer was 8% below surveyors recommend value. But still 20% lower than asking price. I spoke to the broker and he wouldn't even relay my offer. Any thoughts?

 

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[DoubleTrouble1]

Does he work for pop yachts......I'd say find another broker but I'm no expert!!

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[Gator]

20% below asking is nothing. The broker isn't doing you just service. 

[piratesholly]

1 hour ago, Gator said:

20% below asking is nothing. The broker isn't doing you just service. 

 

At the very least the Broker should let the seller know the offer. I would think.

[piratesholly]

11 hours ago, DoubleTrouble1 said:

Does he work for pop yachts......I'd say find another broker but I'm no expert!!

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No He does not. Not sure if there is another Broker representing the boat.

[mr 580]

Dealing through a broker can be tricky.  If the broker is just working as an agent for a fee, the broker may be letting the seller set the price then marking it up by his percentage.  In that case, the broker has minimal incentive other than his commission.  If the broker functions as a dealer and the seller is looking at buying a replacement through the dealer, you could have some leverage.  The broker/dealer would be looking at 2 deals not 1 with the second moving some of his inventory and additional margin. Also a word of caution on relying on “book values” for pricing.  I was in the heavy equipment industry prior to retirement and we went away from guide books as a pricing tool years ago.  Most were merely a depreciation schedule based on published number like MSRP and were not connected to actual market by any reporting process.  We used real time market numbers for comparative units from internet research for pricing.  Generally the only time “book value” was discussed was with finance or insurance issues.  From a negotiating standpoint as a buyer, I would use comparative boat prices and pictures to justify my offer.  Book values are best left to the bean counters and bankers.

[Yankee Troller]

If the broker isn't the owner of the brokerage company I'd contact his manager/owner. His job is to present those offers to the seller and they can counter. The broker that was brokering the boat I have now told me I was too low. I told him his job wasn't to tell me about my offer, but to give it to the seller. He did, and it was accepted. The more the broker gets for the seller the more the broker makes, but that's not your problem.

Edited January 10, 2019 by Yankee Troller

[DoubleTrouble1]

I agree....the broker really has no business questioning your offer unless it's just unrealistic....I had the same thing happen to me in the last two weeks and the boat is now under contract with a different buyer over a couple thousand bucks brokers are sneaky is what I'm figuring out... maybe not all good luck Holly it's all a big game of cat and mouse

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