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Old 10-23-2008, 07:17 PM
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Default Broker's commission for selling a boat?

What is the normal commission (as a percentage of price) that a Broker should charge for selling a boat?
(boats in the 25-30ft range, costing between $50-100K, in the water at a marina (not trailered in a parking lot)
Thanx, Dave.
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Old 10-23-2008, 07:19 PM
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Default Re: Broker's commission for selling a boat?

"One Million Dollars" (Dr. Evil's voice)

I think I heard once, 10% based upon accepted offer.
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Old 10-23-2008, 07:25 PM
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Default Re: Broker's commission for selling a boat?

Standard commision is 10%, to the seller....
if co-brokeraged each party usually get 5 and 5.
Problem comes in to the picture, where, it is just as much leg work to sell a 20k boat, as a 100k, boat.
difference comes in where the 20k guy has little funds, if there is 2k of survey issues to handle that's 10%.
the 100k guy, 2k means no big deal I do it, and make the deal.
The adavantage of selling normally comes to taxes, as a seller does have a limited amount of time to purchase a new boat, against his prior boat, and re-coup the sales tax advantage....
Hope this helps,
you are welcome to contact me for further details.
Rich
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Old 10-23-2008, 07:54 PM
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Default RE: Broker's commission for selling a boat?

Hey Dave,

There are better options now days. A broker is simply suppose to sell your boat. The boat will sell by bringing a buyer to the table. The buyer will come to the table via advertising. Most brokers will get you into a year contract for 10% of the sale price, put you on only yachtworld and then drink coffee, and joke around with their buddies while they wait for the phone to ring. Maybe sell your boat and collect the 10%. You do not need a broker to do that if you are capable of showing your boat to a buyer. You just need the buyer.

You may want to have a look at our forum here "broker your own boat" We have sold 213 boats this year alone. I had a call about 2 hours ago from another customer with a likely buyer to make 214. Three sold this last Sunday alone.

Tight lines, Bob Filger
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NEED TO SELL YOUR BOAT? CLICK THE LOGO TO VISIT OUR THT VENDOR FORUM!

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Old 10-23-2008, 08:17 PM
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Default RE: Broker's commission for selling a boat?

Quote:
anglersedgemarine - 10/23/2008 6:54 PM
put you on only yachtworld and then drink coffee

While the drinking coffe portion might be true...I highly doubt the "only place" they advertise is on Yachtworld. When I was searching for my boat, looking at tons of different websites....99.9% of all ads where from brokers. The same boats I was looking at on Yachtworld had also been found on plenty of other good websites.
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Old 10-23-2008, 08:25 PM
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Default Re: Broker's commission for selling a boat?

anglersegde, while you have the magical snakeoil to sell boats, I assure you a good broker does not sit around waiting for the phone to ring. If all brokers did was put thier listings on Yachtworld there would not be all the ads in the last pages of 200 boating magazine in the U.S. not to mention a ton of smaller publications. I swear some peoples kids!
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Old 10-23-2008, 08:33 PM
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Default RE: Broker's commission for selling a boat?

Quote:
Jettglx - 10/23/2008 10:17 PM

Quote:
anglersedgemarine - 10/23/2008 6:54 PM
put you on only yachtworld and then drink coffee

While the drinking coffe portion might be true...I highly doubt the "only place" they advertise is on Yachtworld. When I was searching for my boat, looking at tons of different websites....99.9% of all ads where from brokers. The same boats I was looking at on Yachtworld had also been found on plenty of other good websites.
I said "Most" not all. There are some that advertise fairly well. But MOST will put you on yachtworld like I said. I fired plenty of these guy over the last two decades.

Show me one that uses even half of what I do and I will consider it possibly being worthwhile to blow 10% of my boats selling price instead of what I use for $199 and no contract for how ever long it takes to sell:

Just a few of the sites I use:

Boattraderonline.com
Sailboattrader.com
Yachttraderonline.com
Boats.com
iboats.com
Usedboats.com
Thesaltydog.com
Boat-world.com
Anglersedgemarine.com
Yachtbroker.com
Boatquest.com
Boatclassifieds.us
boatsville.com
123usedboats.com
boating bay.com
boatempire.com
boatgloat.com
usedboatsahoy.com
boatfisher.com
aspenboatingandoutdoors.com
GreatLakesScuttlebutt.com
BoatFisher.com
Wildernet.com
FloridaNewandUsedBoats.com
CaliforniaNewandUsedBoats.com
NewBoatsandUsedBoats.com
Outsidehub.com
FloridaBoatingandOutdoors.com
MarylandNewandUsedBoats.com
MichiganBoatingandOutdoors.com
WashingtonStateUsedBoats.com
MinnesotaUsedBoatsforSale.com
FloridaBoatingandOutdoors.com
Mich.info
NewYorkNewandUsedBoats.com
UsedBoatFinder.com
GeorgiaUsedBoatsforSale.com
Usedboatsahoy.com
BigFishBoats.com
MichiganNewandUsedBoats.com
MichiganStartPages.com
Texasnewandusedboats.com
ohiousedboatpier.com
sellyourusedboats.com

Tight lines, Bob

Even some honest broker agree with me. The smart ones use me to help them put some $ in their pockets.
Here is a broker agreeing with me: http://www.thehulltruth.com/forums/t...214341&posts=6

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Old 10-23-2008, 08:39 PM
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Default Re: Broker's commission for selling a boat?

Quote:
thomas70 - 10/23/2008 10:25 PM

anglersegde, while you have the magical snakeoil to sell boats, I assure you a good broker does not sit around waiting for the phone to ring. If all brokers did was put thier listings on Yachtworld there would not be all the ads in the last pages of 200 boating magazine in the U.S. not to mention a ton of smaller publications. I swear some peoples kids!
Yeah they pretty much do exactly that. #1 Most of those ads are placed by individuals. #2 Paper print is a total waste of money when it comes to selling boats in modern times. Might as well send an ad out in morse code on the am radio stations.

Tight lines, Bob
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Old 10-23-2008, 08:44 PM
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Default RE: Broker's commission for selling a boat?

Quote:
anglersedgemarine - 10/23/2008 7:33 PM

Quote:
Jettglx - 10/23/2008 10:17 PM

Quote:
anglersedgemarine - 10/23/2008 6:54 PM
put you on only yachtworld and then drink coffee

While the drinking coffe portion might be true...I highly doubt the "only place" they advertise is on Yachtworld. When I was searching for my boat, looking at tons of different websites....99.9% of all ads where from brokers. The same boats I was looking at on Yachtworld had also been found on plenty of other good websites.
I fired plenty of these guy over the last two decades.

Can you explain that to me...Does that mean they were brokers working for you trying to sell your boat?
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Old 10-23-2008, 08:50 PM
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Default RE: Broker's commission for selling a boat?

Quote:
anglersedgemarine - 10/23/2008 6:54 PM

Hey Dave,

There are better options now days. A broker is simply suppose to sell your boat. The boat will sell by bringing a buyer to the table. The buyer will come to the table via advertising. Most brokers will get you into a year contract for 10% of the sale price, put you on only yachtworld and then drink coffee, and joke around with their buddies while they wait for the phone to ring. Maybe sell your boat and collect the 10%. You do not need a broker to do that if you are capable of showing your boat to a buyer. You just need the buyer.

You may want to have a look at our forum here "broker your own boat" We have sold 213 boats this year alone. I had a call about 2 hours ago from another customer with a likely buyer to make 214. Three sold this last Sunday alone.

Tight lines, Bob Filger
although Bob is obviously "talking his book", i gotta say, in my year long buying experience last year, he's pretty much on target for the majority of the brokers i ran into. Although for only making a few grand on the sale of a few-year-old CC, I cant say i blame them.

No affiliation to anglers edge, but it does kinda make sense, as long as you are willing to take SOME time to answer calls and show your boat to potential buyers.........
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Old 10-23-2008, 09:00 PM
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Default RE: Broker's commission for selling a boat?

Quote:
Jettglx - 10/23/2008 10:44 PM

Quote:
anglersedgemarine - 10/23/2008 7:33 PM

Quote:
Jettglx - 10/23/2008 10:17 PM

Quote:
anglersedgemarine - 10/23/2008 6:54 PM
put you on only yachtworld and then drink coffee

While the drinking coffe portion might be true...I highly doubt the "only place" they advertise is on Yachtworld. When I was searching for my boat, looking at tons of different websites....99.9% of all ads where from brokers. The same boats I was looking at on Yachtworld had also been found on plenty of other good websites.
I fired plenty of these guy over the last two decades.

Can you explain that to me...Does that mean they were brokers working for you trying to sell your boat?
Marinas I managed over the years. Tough to get someone who actually cares about their job. Most broker want to make money but don't want to spend money to make it. Heck, it was tough to get them to show up for work most of the time. I would usually go through 15-20 of these guys before I would get two good ones. When I was one of them I spent my hard earned to make more $

You can teach someone to sell boat to a degree, but you can't teach someone to love boats. That IMO is the difference between a real broker and the rest of the bunch. I love what I do everyday. The industry has been good to me but mainly because I honestly love what I do.

Not knocking them all, just most of them. There are some good ones out there no doubt. I wish more states would make it a requirement to be Licensed as a broker. I put my time in the rest should have to as well. Right now they could be selling RV's today and a boat broker tomorrow.

This ain't rocket science. Advertise your boat well and you will get a buyer. Period. There is no magic want that any broker has to put someone into some kind of buying trance. Just have to find the guy looking for your boat. That simple....

Where you really get in trouble (especially now) is putting your boat with a brokerage that also carries lines of new boats. They have been off floorplan and paying interest for a while and know they are going to have a tough time getting the rest gone. Which boats do you think are priority to sell right now?

Just giving you the honest facts as I have seen them in the last 18 years. It's the only thing I have ever done for a living and I feel I know it pretty well.

Tight lines, Bob
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Old 10-23-2008, 09:35 PM
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Default RE: Broker's commission for selling a boat?

10% is the typical sales commission.
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Old 10-24-2008, 03:57 AM
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Default Re: Broker's commission for selling a boat?

Brokers take out all the tire kickers and headaces.There are good ones and bad ones and only the hungry ones will work there @sses off for the seller/buyer.Oh,they do help make deals go thru.10% is the normal fee,but they will work with that too!One doesn't have to tie in a year with the broker and also one can put it into the contract that if the seller sells his/her boat on there own,the broker is out of the picture.
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Old 10-25-2008, 01:33 PM
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Default RE: Broker's commission for selling a boat?

Quote:
Marinas I managed over the years. Tough to get someone who actually cares about their job. Most broker want to make money but don't want to spend money to make it. Heck, it was tough to get them to show up for work most of the time. I would usually go through 15-20 of these guys before I would get two good ones. When I was one of them I spent my hard earned to make more $ You can teach someone to sell boat to a degree, but you can't teach someone to love boats. That IMO is the difference between a real broker and the rest of the bunch. I love what I do everyday. The industry has been good to me but mainly because I honestly love what I do. Not knocking them all, just most of them. There are some good ones out there no doubt. I wish more states would make it a requirement to be Licensed as a broker. I put my time in the rest should have to as well. Right now they could be selling RV's today and a boat broker tomorrow. This ain't rocket science. Advertise your boat well and you will get a buyer. Period. There is no magic want that any broker has to put someone into some kind of buying trance. Just have to find the guy looking for your boat. That simple.... Where you really get in trouble (especially now) is putting your boat with a brokerage that also carries lines of new boats. They have been off floorplan and paying interest for a while and know they are going to have a tough time getting the rest gone. Which boats do you think are priority to sell right now? Just giving you the honest facts as I have seen them in the last 18 years. It's the only thing I have ever done for a living and I feel I know it pretty well. Tight lines, Bob
Bob,

I have to disagree with most of your points/facts. We've been brokering boats for over 20 years. I've never had a lazy broker in my office. I weed them out during the interview process. I do a lot more than sit around and drink coffee or else I'd be broke. Here's an example: Last week I got on a plane with a client flew down to see a potential boat, sea trialed her and flew back the same day. So that day I put in about 20 hours of time.

It appears your service is very valuable to sellers who are looking for help in there FSBO process. But it's not a replacement for sellers who don't want to be involved or don't have the time to sell there own boat. I've read many great reports from your customers who are pleased with your service. As long as boats are selling I'm happy. But please don't assume that the majority of brokers are not willing to work and don't care about there profession.I've delivered, cleaned andrepaired more boats in the last 20 + years than I can remember, just to make the deal stay together. And there's been no extra charges, just part of what we do to keep both parties content.
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Old 10-25-2008, 06:08 PM
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Default RE: Broker's commission for selling a boat?

Please look at yourself as one of the good guys then. I stated in the last post that there are some good ones out there. I was a broker like you seem to be.

Still sticking to my guns here though. Most are lazy and simply don't care very much. The majority also do not know boats very well.

If you were able to catch the lazy ones in the interview process I am totally amazed. You must be really good at reading people if you can get that right 100% of the time from a 15-20 minute interview Most of the time the real work ethic trickles out later.

Again, this isn't rocket science. There are only a few situations that seller NEEDS a broker.

1) You don't know squat about your own boat
2) You do not have the abilty to talk to other humans
3) You live too far from your boat to show it
4) You do not own a boat

Outside of those pretty much anyone can sell their boat using just the marketing tools I give them. I also finance and arrange shipping if need be.

I can promise you that the majority of guys here know far more about their own boat than you or I do! So, why would they need you aside from the situations listed above??

I understand brokers not being happy with me...I get that...I cut into their possible clientel. The times are a changing though. You were needed a lot more before the internet.

My mother is a real estate agent and lives on a commission. I love her but personally I feel the same way about real estate as I do about selling a boat. Nobody knows my houses like I do. I will not layout 6-8% to some agent that did nothing but take a call that came through the MLS. Get what I mean? That is how 90% of houses sell now. I would rather pay $600 to my attorney to close the deal than 6-10 percent of MY houses selling price to an agent!! On a 300K house that is 18K to a guy that answered the phone and maybe did some driving and made some calls. I would rather do that stuff myself and save that 18K So basically I am the MLS and you are the real estate agent.

You know this very well if you have been in this business for 20 years. Where do most of your buyers come from?? The newspaper ads? Just driving by the lot? or did they find you on the web?


I am not "Assuming" the "Facts and Points" I made in previous posts. I stick by them 100%. I got 20 years in as well. These are the facts as I have seen them.

The fact is is sounds like you are one of the good ones, but don't try to tell me that most brokers are like you and me. Just simply NOT true. You know it and I know it. If they were all good you and I wouldn't do as well as we do.

The nice thing is that a lot of the bad ones will be gone in the next couple years. I'll still be here and it seems like you will be too.

Tight lines, Bob

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Old 10-25-2008, 06:24 PM
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Default Re: Broker's commission for selling a boat?

The industry standard is 9-10%
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Old 10-26-2008, 06:48 AM
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Default Re: Broker's commission for selling a boat?

So how many boats do you have listed to have sold 214 you must have a a mess of them. What percentage of the boats that you have for sale, have you actually sold this year? You really have done nothing as far as the sale goes for the client, except putting them on some websites, if your clients are motivated enough to sell they could put them on the websites themselves, it appears that allot of the sites you put them on are free sites. I guess that's why you don't believe in Yachtworld because they charge a fee but also when you put a listing on yachtworld it in turn goes on several different sites.
If you had to live on the boats you have sold, you would have only made 42,580 dollars. If you where in a marina or even near the water for that matter you would not have even made enough to pay the lease. I not saying you don't have a good business, it sounds perfect.
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Old 10-26-2008, 07:35 AM
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Default Re: Broker's commission for selling a boat?

Quote:
thomas70 - 10/26/2008 8:48 AM

So how many boats do you have listed to have sold 214 you must have a a mess of them. What percentage of the boats that you have for sale, have you actually sold this year? You really have done nothing as far as the sale goes for the client, except putting them on some websites, if your clients are motivated enough to sell they could put them on the websites themselves, it appears that allot of the sites you put them on are free sites. I guess that's why you don't believe in Yachtworld because they charge a fee but also when you put a listing on yachtworld it in turn goes on several different sites.
If you had to live on the boats you have sold, you would have only made 42,580 dollars. If you where in a marina or even near the water for that matter you would not have even made enough to pay the lease. I not saying you don't have a good business, it sounds perfect.
Look Tom, I know you are a broker. I know where your marina is. I lived in your area for about ten years. You don't even have a website do you? Have you even sold 20 boats this year?

This thread has turned into brokers arguing with me. Not exactly a no spin zone that way is it?

Started this season with just over 100 listed. I have 280 listed now of which probably another 20 are sold that have not been removed yet. I do that at the end of the month. I have sold 214 this season. You do the math. The more boats you have the more boats you will sell. Another reason why I never understood being a one or two location broker. Make every marina your inventory and you will do much better having all of their inventory to choose from.

I don't believe in yachtworld becuase I don't want a bunch of broker calling me! Neither do my customers. I know exactly what yachtworld costs. About $400 per month. So tell me do you know what trader costs? Do you know what Boats.com costs? How about usedboats and yachtbroker? There are two website I use that are free to me. The rest I pay for.

Here is a quote from another broker in my forum regarding yachtworld:

jbryzek
[img]../images/spacer.gif[/img][img]../templates/original/images/common/nav-messages.gif[/img] Posted 10/10/2008 3:30 PM (#2256944 - in reply to #2216073)
Subject: RE: Yachtworld?[img]../templates/original/images/common/localized/message-replyquote.gif[/img] [img]../templates/original/images/common/localized/message-reply.gif[/img] [img]../templates/original/images/common/localized/message-alert.gif[/img] [img]../templates/original/images/common/localized/message-edit.gif[/img] [img]../templates/original/images/common/localized/message-delete.gif[/img] Offline

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(98.203.34.242)guys, Anglers is right. I am a broker by profession and use yacht world all the time to advertise. Most of the good leads seem to come from boattrader etc. Yacht world is very expensive and it is like an mls system for other brokers. I find it works well with huge boats that might be up for co brokerage but if your boat is priced well it will find the same traffic on the other sites. What he does is a great service for people that might want to get there boat out there to 1000's of people but don't want to shell out the 10% to have someone do it for them. I think its well worth the money to list with him. Just my 2 cents.

Jarrett
President
International Yacht Network



Iam done wasting my timewith this thread. Nobody is learning anything with brokers arguing the reality of the biz. So, if you feel the need to post again just go back and read my previous posts. All the answers are right there.

As far as the "Not doing anything on the actual sale" Ask the last guy to post in my forum about that. I talked to his buyer three times. Setup the BOS. And got the boat shipped from Reading PA to Venice FL. for $775.00

All the seller had to do was show the boat in his own driveway. All the buyer had to do was hand him a check.

So tell me, you standing there in person and pushing the pen for the BOS would have been worth the 9-10% commission? Right!

Good luck with your brokerage. Tight lines, Bob
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Old 10-26-2008, 11:05 AM
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Default Re: Broker's commission for selling a boat?

Bob is a good salesman. And I have used his product and will again. His special sold my boat quickly.

It is not rocket science. It is exposure and nothing else.

I can't imagine locking into a contract for 6 months or a year, with one broker, for 10%? Laughable. There are good guys and bad guys everywhere, and I am not saying anything other than Bob's business model is all you need to sell your boat. I paid his fee, rather than 10% of $50,000 to sell my Parker. Big difference.

I'll pay $199 to get on all those sites, google-optimized, for less than what it would cost me to get on three of them myself., any day of the week and twice on Sundays. Bob has a good product, talks the talk, and most importantly walks the walk.

Sheeeet. I wish he could adjust his skills to get me customers for my business.
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Old 10-26-2008, 01:15 PM
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Default Re: Broker's commission for selling a boat?

Themis Sal I agree with you Bob appears to be a good salesman, but the onlything he is selling is his business. How can he say he's selling your boat for you when all he's doing is putting them on the internet, with your contact info?
Bob you're right Yachtworld cost about 400.00 a month, but if you did a little research you would know that also includes all of your listings on all of the trader sites along with boats.com and you have access to soldboats also. And your off on print ads, we get allot of leads from print ads and have sold allot of boats from them. Keep in mind 90% of our customers live more than an hour away from thier boats, and they don't want to have to travel an hour just to show some guy that just wants to see what one looks like.
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