Broker percentage?
 

What do you guys feel is standard or fair for this as far as them being the seller?

I will be listing my boat with one and we have talked about pretty much everything but this topic. Since I never have had to use one I am not sure what is good as far as this goes. Any ideas or advise here to help me with this oh so fun journey.

Thanks

10%

^^^^^ They are all 10% in my neck of the woods.

We are 8%, Performance Boat Center, we take trades, set up financing, insurance, survey, mechanical inspection, demos, documentation and more.

www.performanceboatcenter.com

I would like to get it to you or Pier 57 but the $2k - $3k + to get it up that far north is a bit steep lol.

So 10% though is a good and fair area? It is what I had in my mind but wanted to make sure. I will be getting my boat to them myself and they will take it all from there. We have agreed on sale price and all. They will be putting it in their storage area as well but still at a monthly cost and I will have access to use the boat still.

That is pretty much the standard.

If you do send it north this time of year, you'll probably get a better rate if somebody is heading back empty.

It depends on the boat really... and most importantly what the Broker is doing to earn their money... Just like Brett has listed.
Some brokers want to type emails, send contracts, then trade phone numbers and collect 10%... Crazy...
10% of a 250,000 boat is $25,000... Thats real money.
that said, the sales process is largely the same for a used '02 $15,000 27' Baja as it is for a used '12 $450,000 42' performance boat... Should the big boat pay much more commission just because it is worth more $?
As I tell brokers that call me wanting to sell one of our listings..... The world revolves around dollars, not percentage points. I always agree on a dollar figure.

It is a very very clean 2005 Sonic 358. Agreed list price is $89,995 without trailer for $5k more with, so he is standing to make in the $8k area for the boat if we do 10% . Not chump change really.

It Is going to Sun Coast Power boats in Sarasota.


I have a number figure for what I want to take home after everything and this would still fit into that number for me.

10 % is the norm around the country. Watch out after the fact on storage fees after 30 days of consign , also any cleaning fees, fuel fees, lake ramp fees, filling tire with air fees, and moving the boat around the lot fees, and the big one - covering and uncovering the boat fees. Also paperwork & office filling fees These fees exist from some consigners not all but some have add on fees after their consignment fees.

Some have to charge a storage fee because that is an easy way for the boat owner to have free storage especially during the winter months knowing that the boat most likely will sit and not sell during that time of year for x amount of months. There you go for information on how to obtain free boat storage - put a very high price on your boat and go to town with the consignment boat shops picking one with no storage fees. FYI.

I will ask about the small fees for sure. Some I know should not occur like the cover/uncover as three is not one and the storage is a large indoor warehouse.


I know there is a monthly note to store. W have already went over that. He is charging $300 a month and that is exactly what I currently pay. So no issue there.

In the end I am hoping just a straight 10% fee at most and no extra small stuff.

No worries Nate. Scotty is pretty ok guy. And 10% is the norm.

He seems great so far. Talked to him quite a bit, just have not got down to the details in ink is all. Thanks Peter, I trust your word for sure.

Good luck on the sale Nate. If I get a empty truck heading back to Performance in the near future I will let you know. Our trucks are in and out of Florida on a regular basis.

I have a hard time justifying the 10% broker fee personally. You can advertise all the same places they do. The have the advantage of possible financing options. Why not just lower the price a little..? Say if you somehow get your asking price @ 89k - his fee 80k. That's IF you get your asking price. Maybe I'm looking at it all wrong.

Please do Brett. love you guys up there. Top notch for sure.

Big brokers get people that call them too and have a watch list too for clients who just don't want to look them self. I get I can put it at most all the same sites but then I have to keep up the ads, their cost, take time out for the tire kickers to show up and not buy, and etc.

My thought was were he placed my price. He gets his fee and it still meets my # I want to take home. If that is the case then it works for me giving him his 10% for his time and efforts.

A lot of sellers don't want the hassle of dealing with the sale. A lot of buyers will only buy from a dealer.

Yup.

Especially for me the selling part. With work and home life showing it is a chore in it self. Add in how many people just want to look and nothing more and it really is just time lost for nothing.

Let your insurance guy/gal know the situation. Or at least know the coverage if something were to happen that triggers a claim. juz sayin'.

I don't know, I have mixed emotions on a broker. I had my boat listed for 3 months. I got some calls but it didn't sell. I took to a large broker that is respected. Nothing was in writing between the broker and myself. After a couple months of me contacting them to see how things were going I recieved a call from one of the guys I spoke to prior to taking to the broker. He wanted the boat, sold his other boat and wanted to pay cash and pick up. I called the broker and explained the situation and said that I didn't just want to come get the boat as I thought they deserved some money for the advertising and simply said hey if you do it fairly I'll give the name of the buyer. He assured me that he would and in the end, 9.1%. Upon receiving the note to sign I called and said hey I can see 5-6 but not 9.1%. His reply was that was the best he could do.

So now I am gun shy of brokers but learned a lot from the process and if there is a next time I will have it all in writing. I sleep well for calling them and being honest even though it ended up costing me money.

Two different types of brokers IMHO.
1.) The ones that tell you what you want to hear to get the boat on their lot collect storage fees for a while and eventually beat you up with a lower sales price then you were promised.
2.)Then there are the ones that are honest with you from the get go about what your boat will bring.

I like to work with the second type of broker that is a straight shooter and accepts the fact that X amount is my bottom dollar and doesn't try to beat me up on a sales price after collecting 6-10 months worth of storage and bogus maintenance invoices to cover their payroll.

Best of luck on the sale. I've always liked the lines of sonics!!

The storage is kind of a dead point for me. He is charging exactly what i pay now. So it washes with no change to me really but I get what you are saying.

With point #2. When we first talked I never told him my bottom line (actually I still haven't). I wanted to see where he put the number at and it fell in a comfort zone area for me. His # also matched what one of the biggest dealers in the US said when I wanted to get it up to them.

So I don't think he is blowing smoke and hope he is not.

My thing I will have to ask about now and assure is not there are the small fees. I have never asked so I don't know. I am fine at 10% but not fine getting nickle and dined on small stuff.


Thank you for the compliment on the Sonic lines. I too love them as well. Sit very nice in the water.

Get EVERYTHING in writing!!! I let a well known broker list my boat. He wrote an add, used the pics I sent him, and listed it.He had a very interested party, and had them send him a $10,000 deposit before they flew to see the boat. I had to be the salesman upon there arrival. They decided the boat was not for them and left. 4 months later I get a call from the potential buyers looking for the $10,000. The broker could not be reached. I lost nothing, but not the point. I see the brokers name come up from time to time on OSO and have a hard time biting my tongue. Just not my style..Good luck with the sale.

Just price it at 75,000 with trailer if you want to move it. Sometimes just putting it on the money will sell. Besides winter is here and sales will be slow, Good luck selling, sounds like a nice boat.

I know I definitely picked the wrong time of year to sell lol. This was another reason for the broker was more publicity at this time of year.

Thanks for the kind words. I really do love this boat. Just not the time or place of my life right now. I do hope to one day come back around and hope to get into what I have now or better. She will be missed for sure.

Trades... to me that is what the right broker brings to the table and what makes it worth listing... you loose a lot of potential sales if you can't or won't take a trade. my two cents worth...

Scott Shogren of Pier 57 sold my Skater in less than 40 days. I believe he normally just brings you net offers that you decide whether or not you want to accept & he just retains the difference. I think he sells a lot of boats this way. The seller often gets what he wants & doesn't find himself hung up on percentages or how much the broker is making off his boat sale regardless of how few or many days it takes to sell.

I do like that way of doing it. Really in the end I don't care what he gets, I just know what I want to bring home. Even if he sold it for way over what I was wanting, then good for him and he deserves what he makes.

I really wish the big dogs (Pier & PBC) weren't so far north and also now it is winter.

I'm a broker my self and noticed that one important thing was missed, when talking about the 10% commission. Most brokers use MLS systems like Yacht World and list their boats under "available for co-brokerage". What this means, is that basically any broker in the world can offer your boat to their customers and if the deal goes through, the 10% commission gets split between the listing broker (the guy you have a contract with) and the selling broker (representing the buyer). When you list your boat with a broker, it's worth wile to ask, if they will be willing to co-broker your boat, if another broker brings a paying customer to the table. Also, MLS systems like Yacht World are only for paying brokerage members, so a private seller can never get their boats listed on an MLS. Lots of boats are sold on co-brokerage, performance boats included, so this will greatly benefit the seller, as the commission will still be the same. No different than real estate actually.