Broker Experiences as a Newbie

[MajorJones]

26 minutes ago, mrsmelly said:

In this day and age all u need is Google. I have just looked myself as if I where a newbie and there are mountains of reviews on line for most brokers. 

You'd be surprised but this form is #1 result for almost all of my search queries lol 

[Stilllearning]

51 minutes ago, MajorJones said:

You'd be surprised but this form is #1 result for almost all of my search queries lol 

That’s because we have ALL got opinions

 

[MrsM]

We didn't buy from a broker in the end but were extremely close to offering on a beautiful boat at ABNB. I still urge all those looking to put in the miles and go and see boats being sold privately, although I appreciate the market has pretty slim pickings at the moment. Also before setting off ring the broker and ask outright whether the boat(s) you are interested in is/are still available. 

[robtheplod]

Surely the thing that matters is the boat and not the broker... would people not use a broker even if they had the boat they wanted?

Edited September 15, 2020 by robtheplod

[mrsmelly]

16 minutes ago, robtheplod said:

Surely the thing that matters is the boat and not the broker... would people not use a broker even if they had the boat they wanted?

Precisely. After 30 plus years of buying and selling to move to another boat I find there are good and bad boats both with brokers and privately. Much the same as any other product. 

Edited September 15, 2020 by mrsmelly

[MajorJones]

18 minutes ago, robtheplod said:

Surely the thing that matters is the boat and not the broker... would people not use a broker even if they had the boat they wanted?

Knowing it's not a car dealership and broker doesn't owe you anything it still does bring a peace of mind that your first boat is not going to be complete miss (or so we, newboaters, hope)

[mrsmelly]

1 minute ago, MajorJones said:

Knowing it's not a car dealership and broker doesn't owe you anything it still does bring a peace of mind that your first boat is not going to be complete miss (or so we, newboaters, hope)

You need to realise a boat brokerage is like an estate agent, they work for the vendor not the purchaser. It's down to the buyer to check the boat out. 

[MajorJones]

Just now, mrsmelly said:

You need to realise a boat brokerage is like an estate agent, they work for the vendor not the purchaser. It's down to the buyer to check the boat out. 

Yes, absolutely - I understand that.  

And in general, it's hard to think of an industry that works for the purchaser and not the vendor.

[MrsM]

31 minutes ago, mrsmelly said:

Precisely. After 30 plus years of buying and selling to move to another boat I find there are good and bad boats both with brokers and privately. Much the same as any other product. 

Indeed. However I think there is a very real risk that an uninitiated buyer with little experience could be lulled into a false sense of security that buying through a broker is 'safe'. I was disgusted to read in Andrew's account that one of the brokers was advising against a new survey on a particular boat. I find that downright unscrupulous. I know surveys aren't a guarantee that you are spending money wisely but nevertheless they are better than nothing.
 

[enigmatic]

30 minutes ago, MrsM said:

Indeed. However I think there is a very real risk that an uninitiated buyer with little experience could be lulled into a false sense of security that buying through a broker is 'safe'. I was disgusted to read in Andrew's account that one of the brokers was advising against a new survey on a particular boat. I find that downright unscrupulous. I know surveys aren't a guarantee that you are spending money wisely but nevertheless they are better than nothing.
 

I'm surprised they're advising against surveys since the boatyard usually makes a bit of extra money on lifting the boat out...

[Guest]

Just now, enigmatic said:

I'm surprised they're advising against surveys since the boatyard usually makes a bit of extra money on lifting the boat out...

If the broker owns the boat they may be aware of any repairs the cost of which may exceed anything they can make on hiring their crane.

[enigmatic]

True, but I thought brokers actually owning the boat was a rare thing? For every other boat presumably it's extra cash for the crane/slipway, and quite possibly some money for remedial work or blacking.

[MajorJones]

5 minutes ago, The Happy Nomad said:

If the broker owns the boat they may be aware of any repairs the cost of which may exceed anything they can make on hiring their crane.

Boat sitting 'under offer' and waiting for a survey doesn't equal to your sales fees, just a deposit. More likely they were eager to shift 'stock' quicker rather than owning a boat and knowing about a problem.

[Guest]

6 minutes ago, enigmatic said:

True, but I thought brokers actually owning the boat was a rare thing? For every other boat presumably it's extra cash for the crane/slipway, and quite possibly some money for remedial work or blacking.

I dont think its that rare tbh.

 

Some actively advertise that they will buy your boat, obviously at less than what you might get if they 'brokered' it instead. Some people just want the cash and the ability to walk away. Tempting if you know your boat needs work.

 

https://www.google.com/search?q=we+buy+your+boat+for+cash&oq=we+buy+your+boat&aqs=chrome.0.0j69i57.7946j0j7&client=tablet-android-samsung&sourceid=chrome-mobile&ie=UTF-8

[PD1964]

Also there’s a back log of boats that were booked in for dry docks and slipways for blackening and repairs that couldn’t get done due to the COVID 19 lock down. Many of which paid large deposits, which need to be re-arranged and obligations fulfilled.

[matty40s]

I was fairly with you on some points until this line.

It seems you are almost the Big I Am you are tarring some of these people with.

 

Some customers can be absolute arses too.

 

So, most brokerages at present have "Viewings  by Appointment Only", to weed out fender kickers and bored on Sunday families. Sales offices are classed as shops and customers should wear masks. Only people ready to buy should be viewing boats, not ones who are planning to put their houses on the markets maybe soon, or next year. 

This is due to Covid19. It has seen marina and brokerage staff furloughed or made redundant across many marinas.

The boats have to be sanitised in between viewings, contact tracing should be happening, and only serious buyers should be viewing as most boats are selling in days(they wont be there next year when Bill and Doris decide to retire to the waterways).

 

Anecdotal visit from a conversation with a reputable broker recently.

Couple walk into office with no masks on.

"Hi, we've come to look at some boats"

"Have you booked an appointment?,  we already have booked customers on site"

"No, didnt know we needed one, Well, the estate agents are all shut so we thought we'd come here. Can we see XXXX?"

"Are you in a position to buy straight away?"

"That's none of your F€£@¥n business, I've got lots of money"

"Actually, it is ALL of my business so , No, you cant see XXXX, goodbye"

 

 

 

 

 

[roland elsdon]

We are trying to sell a very unusual but run down house at the moment.

The estate agents say its idiotsville out there. They are cancelling viewings for people who cant evidence 20% of the asking price because people are just sightseeing.

We had a 95% offer which we accepted 4 weeks ago. When it came to contract the idiots admitted that they didnt have the deposit, and that their guaranteed mortgage with a certain dodgy chinese bank, was based on one of them being a mortgage consultant for them.

The bank then turned down their own employee. Glad we dont bank with them.

[TheBiscuits]

1 minute ago, roland elsdon said:

When it came to contract the idiots admitted that they didnt have the deposit, and that their guaranteed mortgage with a certain dodgy chinese bank, was based on one of them being a mortgage consultant for them.

The bank then turned down their own employee. Glad we dont bank with them.

 

Oh I don't know ... it sounds like the bank's internal systems work fine if they didn't give the dreamer the mortgage.

[peterboat]

8 hours ago, MajorJones said:

I personally strongly disagree with "no names mentioned though".  We are the crossroads now - choosing between a ~10yo boat vs ordering a sailaway, and I for once would really like to hear names, as probably every other boat hunter here. If a brokerage is a good one - they deserve to be known for that, if they are complete s__te - same again, they deserve to be known for that. 

I honestly think that a sailaway is the way forward for you Hybrid of course but you source real batteries not the tractions you will be offered at a rip off price!

[MrsM]

1 hour ago, matty40s said:

I was fairly with you on some points until this line.

It seems you are almost the Big I Am you are tarring some of these people with.

 

Some customers can be absolute arses too.

 

So, most brokerages at present have "Viewings  by Appointment Only", to weed out fender kickers and bored on Sunday families. Sales offices are classed as shops and customers should wear masks. Only people ready to buy should be viewing boats, not ones who are planning to put their houses on the markets maybe soon, or next year. 

This is due to Covid19. It has seen marina and brokerage staff furloughed or made redundant across many marinas.

The boats have to be sanitised in between viewings, contact tracing should be happening, and only serious buyers should be viewing as most boats are selling in days(they wont be there next year when Bill and Doris decide to retire to the waterways).

 

Anecdotal visit from a conversation with a reputable broker recently.

Couple walk into office with no masks on.

"Hi, we've come to look at some boats"

"Have you booked an appointment?,  we already have booked customers on site"

"No, didnt know we needed one, Well, the estate agents are all shut so we thought we'd come here. Can we see XXXX?"

"Are you in a position to buy straight away?"

"That's none of your F€£@¥n business, I've got lots of money"

"Actually, it is ALL of my business so , No, you cant see XXXX, goodbye"

 

 

 

 

 

Matty a fair reminder that it's a tricky market out there for all concerned. Apologies for putting all brokers in the same hat - there are undoubtedly good ones out there, doing a decent job.

[GUMPY]

In the last 30 years I have never sold a boat for less than it has cost me.

That's 3 narrow boats, 1 barge, 1 sailing boat and 2 river cruisers,

Some I have only owned for a year some for 10 years.

You can break even or even make money on a boat if you are careful.

[GUMPY]

9 hours ago, pearley said:

We have met Chris twice and quite liked him.

I've met Chris a few times, the next day I usually feel a bit fragile

 

 

ETA not recently

Edited September 15, 2020 by Loddon

[MajorJones]

13 hours ago, peterboat said:

I honestly think that a sailaway is the way forward for you Hybrid of course but you source real batteries not the tractions you will be offered at a rip off price!

I'm doing my detailed breakdown to understand the full price of it (materials, etc) - but it does seem that sailaway IS the right thing. Especially now, when I have found a boat builder that can do everything except the internals and furniture.

[Movin' on]

2 minutes ago, MajorJones said:

I'm doing my detailed breakdown to understand the full price of it (materials, etc) - but it does seem that sailaway IS the right thing. Especially now, when I have found a boat builder that can do everything except the internals and furniture.

So long as it is an established well known reputable boatbuilder and not a kitchen fitter with a mate who can weld - the biggest clue is how they want paying - are you going to get it surveyed?

[Stilllearning]

17 hours ago, MajorJones said:

Yes, absolutely - I understand that.  

And in general, it's hard to think of an industry that works for the purchaser and not the vendor.

As is often the case, the comment you were reacting to was rather biased. In an ideal world the broker/agent is working for both sides and those that aren’t will ultimately fail. As an ex estate agent, I know of what I speak! If I hadn’t worked for the buyer, why on earth would they buy through my services? Admittedly there are the less good in every field of business, and GHBS is rightly highlighted as being very annoying.