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Re: T&T: Broker Fees

JW
Jeff Wright
Sat, Dec 26, 2015 12:20 PM

I bought and sold my last boat without incurring any broker fees. I used
Sailboatlistings.com, a resource dedicated to mostly non-broker represented
boats for sale. It is a robust website that charges nothing to post one's
boat for sale, without any limit to the number of photos or written
description included. I believe the long term viability of boat brokerage
as we know it, with its huge disproportionate fees, is at risk. And I say
that as a former boat broker associate.

The same can be said for the real estate brokerage business (and am also an
inactive Florida real estate agent). Realtor.com offers a free smart phone
app that allows one to draw a free-hand perimeter line on a local map and
have all listed for sale and for rent properties instantly appear with
their full discriptions and pricing. Information that is immediately
available without the aid of a live contact with a broker.

I foresee a day when such a resource for selling real estate becomes
available much like the Sailboatlistings.com website where there is no
intermediary involved, where the prospective buyer can pull up privately
offered properties, see the details needed for a preliminary decision,
access an online negotiating electronic form, make the
offers/counteroffers, accept the terms, and click another button having all
the mandated closing forms generated, signed electronically, have the
option to have all reviewed by an attorney, request a loan online - as is
commonly done now - and close the transaction.

In my experience, I found the broker, whether real estate or marine, to
more often serve as an obstruction to good clear communication between the
buyer and seller. In other words, he or she gets in the way of the
transaction. Or stops a transaction that could have been encouraged to
continue. This is not to say that there are not talented and effective
brokers in the business. But they are more often the exception than the
rule. I recall one example where a broker stopped a potential sale dead in
its tracks when I made what he felt was a low ball offer. The broker was
personally offended by my offer. He refused to present the offer to the
seller (which in some jurisdictions is, I believe, unethical if not a
violation of state brokerage regs). I shared with him that it was my
believe that NO offer was more offensive than a LOW offer. At least I
provided him with a price basis to begin negotiations. I walked away and
the buyer just may have lost an opportunity to sell his boat on terms that
ultimately could have satisfied him.

My last large boat was found by my creating a Google Alert in search of a
Pacific Seacraft cutter. Creating the alert took all of one minute and cost
nothing. A week after creating that alert, I got an automatic email
notifying me that someone had placed a for-sale notice of a like-new boat
matching my description. I called the seller within minutes and he was
astounded that I found out so fast about his listing. We agreed to meet the
next day and the agreement was made within days of first seeing the boat.
Four years later I utilized the same website to sell the boat, no broker
involved. It was not an expensive boat ($135,000), but some $25,000 was
saved in total commissions for the buy and sell side.

Wishing you all a safe and happy holiday season and a new year that brings
with it exciting boating adventures!

Jeff Wright
Treasure Island FL
Currently boatless except for a Parker 21SE Center Console

--
Better to walk alone than walk with a crowd headed in the wrong direction.

I bought and sold my last boat without incurring any broker fees. I used Sailboatlistings.com, a resource dedicated to mostly non-broker represented boats for sale. It is a robust website that charges nothing to post one's boat for sale, without any limit to the number of photos or written description included. I believe the long term viability of boat brokerage as we know it, with its huge disproportionate fees, is at risk. And I say that as a former boat broker associate. The same can be said for the real estate brokerage business (and am also an inactive Florida real estate agent). Realtor.com offers a free smart phone app that allows one to draw a free-hand perimeter line on a local map and have all listed for sale and for rent properties instantly appear with their full discriptions and pricing. Information that is immediately available without the aid of a live contact with a broker. I foresee a day when such a resource for selling real estate becomes available much like the Sailboatlistings.com website where there is no intermediary involved, where the prospective buyer can pull up privately offered properties, see the details needed for a preliminary decision, access an online negotiating electronic form, make the offers/counteroffers, accept the terms, and click another button having all the mandated closing forms generated, signed electronically, have the option to have all reviewed by an attorney, request a loan online - as is commonly done now - and close the transaction. In my experience, I found the broker, whether real estate or marine, to more often serve as an obstruction to good clear communication between the buyer and seller. In other words, he or she gets in the way of the transaction. Or stops a transaction that could have been encouraged to continue. This is not to say that there are not talented and effective brokers in the business. But they are more often the exception than the rule. I recall one example where a broker stopped a potential sale dead in its tracks when I made what he felt was a low ball offer. The broker was personally offended by my offer. He refused to present the offer to the seller (which in some jurisdictions is, I believe, unethical if not a violation of state brokerage regs). I shared with him that it was my believe that NO offer was more offensive than a LOW offer. At least I provided him with a price basis to begin negotiations. I walked away and the buyer just may have lost an opportunity to sell his boat on terms that ultimately could have satisfied him. My last large boat was found by my creating a Google Alert in search of a Pacific Seacraft cutter. Creating the alert took all of one minute and cost nothing. A week after creating that alert, I got an automatic email notifying me that someone had placed a for-sale notice of a like-new boat matching my description. I called the seller within minutes and he was astounded that I found out so fast about his listing. We agreed to meet the next day and the agreement was made within days of first seeing the boat. Four years later I utilized the same website to sell the boat, no broker involved. It was not an expensive boat ($135,000), but some $25,000 was saved in total commissions for the buy and sell side. Wishing you all a safe and happy holiday season and a new year that brings with it exciting boating adventures! Jeff Wright Treasure Island FL Currently boatless except for a Parker 21SE Center Console -- Better to walk alone than walk with a crowd headed in the wrong direction.
PD
Phil de l'Etoile
Sat, Dec 26, 2015 5:23 PM

Jeff,

I have long believed that this whole issue really just comes down to
integrity.

As with so many areas, it is often easy to spot those who work at the top
of their profession and those at the very bottom. It's the 80% or so in the
middle that are the most difficult to accurately evaluate,

Brokers can provide a valuable service for both the seller and the buyer,
but the trick usually becomes trying to determine who the broker is really
working for, and often they seem to have crossed the line and are simply
working for themselves (while pretending to be working for you).

The more knowledgeable you are, the better you might be able to deal with
this frustrating issue. But maybe you then become more frustrated because
you clearly see what's going on. (I'm glad I did not have to deal with the
PO of Brave Duck.)

It's not hard to see where the term "Honest Broker" might have come from.

Phil de l'Etoile
West Sacramento, CA

On Saturday, December 26, 2015, Jeff Wright via Trawlers-and-Trawlering <
trawlers@lists.trawlering.com> wrote:

I bought and sold my last boat without incurring any broker fees. I used
Sailboatlistings.com, a resource dedicated to mostly non-broker

represented

boats for sale. It is a robust website that charges nothing to post one's
boat for sale, without any limit to the number of photos or written
description included. I believe the long term viability of boat brokerage
as we know it, with its huge disproportionate fees, is at risk. . .

.(snip) . .

In my experience, I found the broker, whether real estate or marine, to
more often serve as an obstruction to good clear communication between the
buyer and seller. In other words, he or she gets in the way of the
transaction. Or stops a transaction that could have been encouraged to
continue. This is not to say that there are not talented and effective
brokers in the business. But they are more often the exception than the
rule. . . . (snip) . .

Jeff Wright
Treasure Island FL
Currently boatless except for a Parker 21SE Center Console

--
Better to walk alone than walk with a crowd headed in the wrong direction.


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Jeff, I have long believed that this whole issue really just comes down to integrity. As with so many areas, it is often easy to spot those who work at the top of their profession and those at the very bottom. It's the 80% or so in the middle that are the most difficult to accurately evaluate, Brokers can provide a valuable service for both the seller and the buyer, but the trick usually becomes trying to determine who the broker is really working for, and often they seem to have crossed the line and are simply working for themselves (while pretending to be working for you). The more knowledgeable you are, the better you might be able to deal with this frustrating issue. But maybe you then become more frustrated because you clearly see what's going on. (I'm glad I did not have to deal with the PO of Brave Duck.) It's not hard to see where the term "Honest Broker" might have come from. Phil de l'Etoile West Sacramento, CA On Saturday, December 26, 2015, Jeff Wright via Trawlers-and-Trawlering < trawlers@lists.trawlering.com> wrote: > I bought and sold my last boat without incurring any broker fees. I used > Sailboatlistings.com, a resource dedicated to mostly non-broker represented > boats for sale. It is a robust website that charges nothing to post one's > boat for sale, without any limit to the number of photos or written > description included. I believe the long term viability of boat brokerage > as we know it, with its huge disproportionate fees, is at risk. . . .(snip) . . > > In my experience, I found the broker, whether real estate or marine, to > more often serve as an obstruction to good clear communication between the > buyer and seller. In other words, he or she gets in the way of the > transaction. Or stops a transaction that could have been encouraged to > continue. This is not to say that there are not talented and effective > brokers in the business. But they are more often the exception than the > rule. . . . (snip) . . > > Jeff Wright > Treasure Island FL > Currently boatless except for a Parker 21SE Center Console > > -- > Better to walk alone than walk with a crowd headed in the wrong direction. > _______________________________________________ > http://lists.trawlering.com/mailman/listinfo/trawlers_lists.trawlering.com > > To unsubscribe or modify your subscription options (get password, change email address, etc) go to: http://lists.trawlering.com/mailman/listinfo/trawlers_lists.trawlering.com > Trawlers & Trawlering and T&T are trademarks of Water World > Productions. Unauthorized use is prohibited. >