brokers....doh....

[whackywoody]

Wow, this thread has certainly made a dull monday a little bit brighter!

Peter, don't pack your bags just ignore comments that wind you up.

I have just been through a boat purchase and had to deal with some brokers (not any brokers who are ribnet members). It wasn't a good experience as I eventually bought from a private seller but from a buyer perspective I really cannot see the benefit of buying through the broker for the following reasons:

1.) You don't get any warranty or guarantee just like purchasing from a private buyer

2.) The broker is constantly going backwards and forwards between the seller and the potential buyer as they don't have all of the information

3.) The broker wants a cut so either the seller loses out to pay the commission or the buyer is paying over the odds to cover the commission.

So from a buyer perspective the boat broker is just like an estate agent unless I missing something, if so please enlighten me.

[Poly]

Originally Posted by whackywoody

So from a buyer perspective the boat broker is just like an estate agent unless I missing something, if so please enlighten me.

Exactly like an estate agent. What they are doing is advertising and managing the sales process - the industry is somewhat disrupted by the internet. However the internet also brings risk and scams - which a good broker should be helping both sides to feel more comfortable with.

[simon23]

I use a broker to sell the narrowboats i build for a job..he takes 7%+vat from the sale.i belive as i pay him, he works for me not the buyer.although his does have a standard list of questions for every boat i take to him,he does know his stuff.my only complaint is if you don't ring or call to see him, i think he tends to forget you and your boat

[Dry Run]

WOW! Thread went a bit off topice for a while (entertaining though that was).

Buy from a "reputable" broker if you want: -

To be sure the boat is as described.
A knowledgeable opinion of the suitability of the boat for your inteded use.
The correct paperwork to prove ownership and transfer of the boat to you.
The correct doccumentation to support any claims about the service / use of the boat.
Advice on what steps you can take to ensure all the above are confirmed.
An escorted sea trial to prove the above.

All for 7%??????

Or, buy off E-Bay - 'cause we all know that's foolproof!!!!

Steve

[Searider]

I quite agree Steve - that's how it should be.

[lakelandterrier]

Originally Posted by Dry Run

All for 7%??????

Well I wish I could get 7% return for no investment, no risk. Easy money so should put a bit of effort in.

Compare to my industry - transport - 3-4% max net margin, large capital investment, fixed price, short term contracts, penalties for each failure, many factors out of control (e.g congestion, tip delays) 1000's of regulations.

I should become a broker - no investment, low risk, good margin, worst that can happen customer ditches me for a.n.other
Oh yes And can't spend lots of work time on the water!

[simon23]

Originally Posted by lakelandterrier

Well I wish I could get 7% return for no investment, no risk. Easy money so should put a bit of effort in.

Compare to my industry - transport - 3-4% max net margin, large capital investment, fixed price, short term contracts, penalties for each failure, many factors out of control (e.g congestion, tip delays) 1000's of regulations.

I should become a broker - no investment, low risk, good margin, worst that can happen customer ditches me for a.n.other
Oh yes And can't spend lots of work time on the water!

I don't think its all good he has overheads like any business..storage for about70 narrowboats office and staff 7 days a week and only gets paid when sale is done.but when its good its probably very good.