Bullshipper

$200,000 sales price

Does this include sea trails, do advertising and ramp launchings, etc?

Berky

Most are 10% , they should sea trial with the owner, check proof of funds prior to sea trial, deal with the contract , etc..
A good broker will have a large wed presence.

Lorne Greene

10% is the going rate.

JohninFla

10% generally, though for frequent customer and listed/sold 100% in house might be a small discount. Broker does photography, builds listing, pays for all advertising. Pre qualifies prospects. Shows boat. Attends survey. Has escrow account for funds. Negotiates between buyer/seller and provides contracts. Coordinates with lender(s) as needed. Collects and pays sales tax and provides all documentation. MAY (often small additional cost) complete USCG documentation transfer.

zx7king

Yep... when i sold the cat earlier this year and did some price shopping they were consistently 10% and provided what's mentioned above. I ended up finding one for 7% out of sheer luck when i was looking for other marine services.

Bullshipper

Great post with lots on info. Thank you

305seahunter

A good broker will do everything. The seller will just have to provide some documents and then sign closing docs. The seller does not necessarily have to be present for the seatrial either. Although my clients usually prefer to be there

Bullshipper

Appreciate all the great responses. Thanks

Clinker

Are you asking as a seller? If you find a broker willing to charge less commission, I'd ask why - if a good broker can secure you a sale just 10% off asking price $180,000 - that gives him $18,000 and you $162,000

If a not so good one charging say 7% can only secure a sale at 15% off asking price - $170,000 - that's $11,900 for him and $158,100 for you.

kwb74

Along with the 10% they also try to get you to dock the boat at their location - usually in some of the more expensive moorage for the area at an additional cost. A good broker will take care of everything about the transaction and as the owner you should be able to sit back and wait for a check (as long as you keep the boat in showing condition).

IMHO - the 10% number hasn't kept pace for the reality of prices on boats, just like Real Estate. As the average price has risen astronomically there should be some room to cut the rate and still make enough money to make a respectable living as a broker. Many do have a minimum number to list a boat as well if you selling at the bottom end of what are typically brokered boats. Real Estate is getting some real pressure on the historic 6% they have had, and for same reasons I expect that pressure will be coming to boat brokers as well.

Fortu

Forgive me but that's a very convoluted way to justify a percentage-based fee for service. The boat is "worth" what the market dictates. You can look at comparable sales and determine value and list accordingly. If your broker says he will list at 8%, your boat doesn't suddenly become worth less money! That broker is going to take 3% if the boat is sold by a different broker.
I've sold a few boats, one over $100,000., on Boattrader. I "protected" brokers so paid a sellung commission but saved myself the listing commission.

WalkingTheDocks

Important to note that there are ways a good broker adds value and captures prospective deals in a way that a poor broker won't, so while you're right that the boat isn't materially worth more many times a good broker adds value by reaching or providing services to a broader range of prospective buyers that facilitate a higher offer for the boat.

HS2300

Funny you should ask...

I just listed my boat as for sale by owner here and on CL. I inquired with the dealership that services my boat about their brokerage rate. It is 10% and they do everything.

If I were to list my boat (22 Center Console) with a broker, I would do it at a dealership that has a steady flow of buyers coming through the door for this specific type of boat. Sure, they may steer the buyer towards one of their own boats, but most dealers in my area don't have much supply of good, clean used center consoles. I am sure it's different if it's sporty, cruiser, etc., which are completely different vessels.

blb078

Listed my boat on boattrader myself. It's in the $300k range. Have a deposit already on it and a sea trail tentatively scheduled. Have had numerous people contact me about the boat. In this market a five year old could sell a boat. No way would I pay a broker 10% no matter how good they are. Take some pics with your phone, pay the $100 or whatever boat trader charges, and as long as it's a fair price for the condition it will sell. I even had 2 dealers wanting to buy my boat. A broker, even a good one isn't doing anything you can't do yourself.

Bullshipper

I live in Mexico, and the folks buying boats now are in the states, and paying about 2-3x more than will here.

I don't expect a lot of customers to spend a grand to fly down for a look see so I was thinking of placing the hull in San Diego with a broker at a dock close to their airport.

Make sense, or am I a 5 year old too?

blb078

Wow get offended much? I said a 5 year old could sell a boat in this market, which they probably can. Nothing in regards to someone being a 5 year if they can't sell a boat. Now to you're question depending on the boat, value, and demand they yes will people will absolutely fly to see it. If you're selling a 10 year old bayliner nope, probably not going to get anyone to fly to Mexico or even San Diego for that matter to see it. However you put a 3 year old Freeman up for sale and see what happens. Before you get offended again, this is a U.S. based website with an overwhelming majority of it's users based in the U.S. So expect people to respond as if you are based in the states unless you clarify it.

offshore2280

when i brokered my boat [70k] the fee was 10%. but the first 10k was 15%. what you should discuss if a buyer puts down a small deposit he should have a time limit in how many days he has to commit to the deal, and the boat does not stop being advertised until he commits to the deal, either by putting a bigger sum down or paid in full. i was held back 6 weeks because of this but it finally went thru.

Bullshipper

I'm just like a guy living inland or in the NE with his hull in Florida. How is he going to sell it if he isn't there?

A good salesmen and a lot with visibility adds value in my experience.

halfwaythere

Location in his profile. Don't get butt hurt.

halfwaythere

Most good brokers list boats and get traffic from yachtworld and other sites they have access to and use extensively.