For Sale: Listed boat online and broker texted deal. Please advise.

[OrangeCrush]

I just put my Pearson 26 up for sale on sailboatlistings.com (going for a bigger boat) and the next day someone from POP yachts texted asking if they could list my boat on 165 websites like Boattrader. "We build our fee into the listing price so nothing comes out of your pocket," she said. I told them I'd give them a call to get more information later.

Is this kind of arrangement common? If so, how does it work? Will they ask me to take down my own listing? Advantages/disadvantages? Or should I be wary of this?

Thanks

[Andy73]

Originally Posted by OrangeCrush

Is this kind of arrangement common? If so, how does it work? Will they ask me to take down my own listing? Advantages/disadvantages? Or should I be wary of this?

Hi OC,

Yes, it is extremely common for 2 reasons.
1 The brokers generally have a greater access to buyers and they want to please the buyers (so they can make money)
2 They make a commission from selling your boat (they make money).

The trick for you is not giving up your rights to the selling process (unless that is what you want). You can offer them a NON-EXCLUSIVE or OPEN listing arrangement which allows them to "own" the buyer and only get a commission if you agree to sell to the buyer they bring you. If someone contacts you directly through your other listing and is not already speaking to POP about your boat, you can still sell them the boat without paying POP a commission.

There is the potential for this to complicate your sale (e.g. POP claims the buyer was already dealing with them), but in general is not an uncommon situation.

You could also offer them a listing agreement for a single buyer... if they say they have one. If THAT buyer buys your boat, you pay them, but they are not allowed to advertise or have "ownership" over any other buyers...

[BandB]

Be very careful with craigslist scavengers. If you'd like to list your yacht with a broker, then carefully select one.

Pop has a lot of complaints against them. Perhaps it's their volume of activity. They've been accused of scamming and they've also said others are scamming under their name.

Also do not enter into a verbal agreement with any broker. Get a written agreement and see if you're comfortable with it. They will actually send you an agreement by phone.

[OrangeCrush]

Very helpful, thanks. I guess there's no harm in holding off for a while and seeing how the boat does on its own. I'm not in any particular rush and people have shown interest already anyway. My boat seems pretty visible online already, so if the only advantage is to increase visibility I suppose I'll wait until I'm a little more hard pressed to sell.

Thanks!

[edneely]

I found this website. Very interesting reading.

I'd find another broker, it that's the way you want to go.

POP Yachts 7 Customer Reviews - Complaints List

[CaptTL]

I saw a boat listed by POP, and I was very interested in it. I tried to get more info on it before I drove 200 miles to see it. Nevertheless, it was exactly what I was looking for if not over priced based on similar sales of the same boat.

Long story short, I could not get the broker to get me the information. He kept asking me if I was going to make a bid sight unseen. He also spammed my email with POP listings of other boats, in which I was not interested. I backed off and today the boat is still for sale. I feel bad for the owner.

[Cadence]

Originally Posted by OrangeCrush

I just put my Pearson 26 up for sale on sailboatlistings.com (going for a bigger boat) and the next day someone from POP yachts texted asking if they could list my boat on 165 websites like Boattrader. "We build our fee into the listing price so nothing comes out of your pocket," she said. I told them I'd give them a call to get more information later.

Is this kind of arrangement common? If so, how does it work? Will they ask me to take down my own listing? Advantages/disadvantages? Or should I be wary of this?

Thanks

I believe Andy73 did a great job of summing it up. Heed his advice.

Best wishes.