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Is it common to engage a broker to sell current boat before using them to buy another?

Discussion in 'Ask the Broker' started by Mark Smith, Sep 30, 2020.

  1. Mark Smith

    Mark Smith New Member

    17
    Jul 21, 2018
    Columbus, Mississippi
    2001 SR 260 Sundancer
    260 MerCruiser with 2018 new Bravo III. Counter rotating props
    We purchased a 2001 freshwater only 260 Sundancer and spent a great deal of time on updating it before we realized that we need a bigger boat but cannot justify buying another one until we can sell the 260. Any feedback would be appreciated!
     
  2. bobeast

    bobeast Dance the Tide SILVER Sponsor

    Oct 22, 2017
    Isleton, CA
    2002 310DA
    350 MPI w/V-drives
    I would definitely do it serially. That gives you a chance the evaluate the broker and potentially fire them before looking for the replacement boat. If you hire a buyer's broker, it somewhat constrains you from contacting seller's brokers directly.

    That said, there is a school of thought that says you should have a buyer's broker to help find your next boat, under the assertion that they are looking out for your best interests.

    What I found was that going directly to the seller's broker, worked just fine for me.
     
  3. Golfman25

    Golfman25 Well-Known Member

    Sep 12, 2009
    IL
    281
    V8
    It would depend on what you are looking for. On boats under a certain amount, I doubt it would be financially feasible for a broker to represent a buyer.
     
  4. Mark Smith

    Mark Smith New Member

    17
    Jul 21, 2018
    Columbus, Mississippi
    2001 SR 260 Sundancer
    260 MerCruiser with 2018 new Bravo III. Counter rotating props
    Thanks Bob and Golfman. Golfman, We have about 47k in the 260 including a nice trailer and looking to spend somewhere in the $100k-$150k area on the new one. I am curious, if it is even lower priced boat, is the broker not on a % commission anyway so it is a sliding scale?
     
  5. b_arrington

    b_arrington Well-Known Member GOLD Sponsor

    Feb 21, 2007
    Setauket, NY
    AB Ventus 9VL
    Looking for next big ride
    2019 Mercury 15 OB
    Standard brokers commission is 10%.
     
  6. firecadet613

    firecadet613 Well-Known Member

    May 10, 2007
    Indiana
    '07 V358
    T- VP 5.7GXi
    Commission is on a percentage basis, but honestly, try selling the 260 yourself. I've yet to use a broker to sell...6 boats now! Boat Trader, eBay, Craigslist and Facebook Marketplace are all avenues to list.

    The largest one I've sold was my 33', just north of $80,000. That's more money you can spend on the next boat. If you can swing it, buy your next boat before you sell. A lot of boats sold this year...not sure how many good boats are left and you run the risk of being boatless for a while as you find the right boat.
     
    Todd320 likes this.
  7. FootballFan

    FootballFan Well-Known Member

    Jun 20, 2012
    Florida
    Marquis 59
    MTU Series 60
    Personal choice. I have had success with not using a buyer broker, actually prefer not to.

    In the past the challenge were finding boats that are on the market, that's not as big of a challenge with the internet. You can find boats.

    In fact I have seen situations where a less than reputable broker filtered the results they brought back to the buyer based on whether they could negotiate part of the fee from the selling broker.

    I am not buying anything without a survey - not relying on a broker for advice about a boat.

    On the selling side, I think a broker brings a lot of value. Fielding calls from prospective buyers, answering questions, and showing the boat. I think using a broker on the selling side works for me and I receive value.
     
    bbwhitejr likes this.
  8. rcknecht

    rcknecht Well-Known Member

    Mar 23, 2009
    toms river,nj
    340 Sundancer 2001
    T 454 MPI
    If I were you, I would sell your boat yourself... I have always done that. Boats are selling very quickly now, and you should have no trouble selling your boat. At the same time, start looking online for your next boat, and take your time. If you see a boat owned by a dealer, like Marine Max, you can see what they would give you on trade. There are some tax advantages on trading in a boat over selling then buying... You don't need a broker, all you need is a friend who knows boats...
     
  9. Carpediem44DB

    Carpediem44DB Well-Known Member PLATINUM Sponsor

    Aug 18, 2015
    Sanfransico Bay area
    Recently sold and currently shopping for a 53' pilot house
    2006 44 DB Sedan Bridge
    Cummins QSC 8.3 500 HD
    I am selling Carpe Diem on my own, But will use my broker to help find and negotiate the replacement mostly because I hate the idea of a broker making 10 percent by double ending a boat and practicing the amoral dual representation game. There is no way anyone will convince me that a broker can work on the behalf of both parties equally. Selling the 44 through word of mouth thanks to CSR!
    Carpe Diem
     
  10. Mark Smith

    Mark Smith New Member

    17
    Jul 21, 2018
    Columbus, Mississippi
    2001 SR 260 Sundancer
    260 MerCruiser with 2018 new Bravo III. Counter rotating props
    Thank you all immensely, i am much more informed now. The power of the collective mind!
     
    firecadet613 likes this.
  11. bbwhitejr

    bbwhitejr Well-Known Member SILVER Sponsor

    Apr 14, 2013
    Lake Lanier GA
    2003 420DA, 6CTAs
    NA
    I used a local broker to sell our 44DB a couple months ago. I have never used a buyer's broker. My experience has been that when the seller's broker knew he would get 100% of the commission, he worked harder to get the deal done. Currently purchasing one from a private seller and while I can appreciate the work the broker handles, there is a considerable savings.....

    Bennett
     
    Mark Smith likes this.
  12. Steve S

    Steve S Well-Known Member GOLD Sponsor

    Jun 5, 2007
    Northern IL.
    2000 400 Sedan Bridge with twin CAT 3116's

    2000 340 Sundancer - SOLD!
    210 Monaco 1987 - SOLD!
    Twin Caterpillar 3116's 350 HP straight drives
    When I bought my 400DB, it was being sold at another division of Skipper Buds. I used my local salesman (whom I have a good relationship with) as an buyers intermediary with the sellers salesman. It worked great.
     
  13. Mark Smith

    Mark Smith New Member

    17
    Jul 21, 2018
    Columbus, Mississippi
    2001 SR 260 Sundancer
    260 MerCruiser with 2018 new Bravo III. Counter rotating props
    Thanks Steve!
     

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