Going For Brokers
Sara Clemence
Let the brokers do the work.
The more expensive a boat you are considering, the more essential it is to have a good broker. Not a good broker selling the boat to you, but a good broker working for you in the marketplace, helping you find a used or custom-made boat that fits your needs, is well built and is priced fairly.
A broker will bring a huge body of knowledge to the process, understanding about different makes and models of boats, and a network of other brokers to draw upon for information.
If you act on your own, searching the boating magazines and online listings (such as those on yachtworld.com), any broker you call about a vessel will be working for himself, trying to sell you that particular boat. Instead, call many brokers and find one to work with exclusively.
"It doesn't matter what boat you buy. He wants to meet your needs and specifications," says Bob Leslie, managing director for the Massachusetts office of Northrop and Johnson, a 50-year-old yacht brokerage that specializes in large boats. "Let the broker do all the work."
A good broker will be a member of the Yacht Brokers Association of America (YBAA) or the local equivalent (a European broker should be a member of the Mediterranean Yacht Brokers Association). A member broker must be an individual contractor working for a brokerage firm and must follow a set of guidelines, most of which are designed to protect the consumer.
YBAA members have at least one year of professional experience, but make sure yours has at least five years and is backed by an established brokerage with a strong reputation, says Leslie. Advertisements in a national or international publication such as Yachting or Boat International indicate that a brokerage is solid. California and Florida brokers must be licensed, and other states have certification requirements. As in all cases, however, personal references are often the most valuable.
Prospective brokers should ask lots of questions, trying to assess your needs. "They should be in input mode instead of output mode," Bennett says. "If it appears that they are trying to sell you something, just hang up. It should not be an adversarial relationship."
As with real estate, there is usually a boat broker on the seller's side and on the buyer's side. When a sale is completed, the seller pays the broker's commission, usually 10%, with 3% going to the buying broker.
http://www.forbes.com/2002/07/24/0724sport_3.html
Sailboat Buying Guide
1. Intro
2. Location
3. Brokers
4. Bigger can be better, but..
5. Pedigree Counts
6. Turning a Profit
7. Used? New? Custom? In-Between?
8. International Buying
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