Dear Thrillseeker:Originally posted by THRILLSEEKER
I have a buddy who is verry business minded and loves boats of all kinds. He doesnt want the headaches of owning a dealership so he is thinking about becoming a broker, only he doesnt have any idea where to start. Can any body give me a general overview of the business, or an idea on where to start so I can share it w/ him.
Don't do your buddy any favors.....
Seriously, THE ABSOLUTE BEST ADVICE I CAN OFFER is to tell him that the old adage "Co-broke or Go Broke" is a myth, and only to work off exclusive listings. When you start splitting a commission with other brokers, the liability ain't worth it most of the time.
Tell him to start developing relationships with local marinas - dock masters LOVE donuts - and getting his name out to the boaters as an expert and someone they want to do business with. Reputation is everything in the brokerage business.
My $.02 or less.