Using a buyers broker - need help

[MicHughV]

As has been posted here before, brokers work on commission.....around 10% is the standard.

For your $400,000 boat, that is $40,000. That's a lot of jam.
The brokerage house typically takes 50%, leaving the selling broker with $20,000. Still a lot of jam.
If there is a buyers broker as well, that $20,000 gets spilt in two again, so now down to $10,000, not so much jam.

That boat may get shown to half dozen prospective buyers and it may not be near the broker's office either. The selling broker is doing most all the heavy lifting, while the buyer's broker isn't doing much.
Finally, the selling broker has to deal with " tire kickers", who basically have no clue what they want and just waste the broker's time, but all this time must be factored into the brokers time and effort to sell that boat.

Most brokers know each other and word will spread quickly if you are the real deal or not. Brokers obviously don't want to split the commission, but are aware that they might have to, it's part of the game.

As is typical for the market, boat owners often ask unrealistic prices for their vessel, causing the boat to remain unsold for a long period of time.
Any boat that you are interested in will get surveyed. Consider the surveyor as your second pair of eyes, rather then using a buyer's broker.

Nothing wrong with using a "buyer's broker", but as others have suggested, do your own window shopping and then contact the listing broker.
The listed broker is also trying to sell the boat and will likely know more about it than a buyers broker. His job is to broker a deal between the boat owner and seller. His job is to sell the boat, not be friends with the seller, and he will most likely "show" the boat best as he will likely have some history with the vessel and also come up with a price that would be acceptable to both boat owner and buyer.

As newbies to the market, I can see where you might think having a buyers broker will help you from making a mistake or buying the wrong boat, but keep in mind, while this is a personal quest for you, it's just another day at the office for the broker.

At the end of the day, do your own homework, or work with the listing broker. They will also know the market. They might find you a boat listed by another brokerage house, so now there will be two listing brokers involved. Bringing in your own buyer's broker to this mix, dilutes their sales commission even more and will likely cause disharmony.

Back to basics, do your own homework as has been suggested before. Yachtworld has countless listings and there are numerous other "by owner" listings around and contact the listing broker or owner for that boat that interests you. This will give you the best results at the end of the day.

Nothing wrong with using a buyer's broker, but change tacks for a while and see if you get better results.

[davecalvert]

I think having a buyer's broker is WELL worth it. I have used one for all our boat purchases (last a Leopard 46) and think we saved a lot of time and money doing this. I strongly recommend Mark Lipkus of Wellfound Yachts. He is now specializing in consulting and helping buyers find the best deal on the right boat for them. Ph 305 451 5385 mark@wellfoundyachts.com. Contact him, you will not be disappointed
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