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From: (no name) (no email)
Date: Thu Nov 27 2003 - 09:27:16 EST
Gentlemen,
OK, I'll bite and get into this discussion but its probably just as insane as discussing politics or religion, your minds are made up. For a long time I have lurked on the lists with an occasional comment, and hey, even a few of you privately bestowed the unofficial title of BEST NAME when I had submitted "Cunning Stunts". Sorry Judy, there was a good story attached.
The last mail seemed to really hit the heart of the "Broker" discussion. What really is the role you think a Broker should play?
Many of you apparently think we have some fantastic powers to influence the buying of a product which is not in good condition or is not the best suited for your needs. Come on guys, you are the top of the top in this World, you have built great businesses and have handled huge numbers of employees and clients to get where you are in life, stop this Broker Bashing and get a life, select a good guy and pay attention to your instincts. Yes you are going to find good guys and bad guys throughout this industry, there are some huge bucks flying around and this attracts some very clever and cunning Brokers. By the way, there are some very clever and cunning Buyers also, a lot of Buyers didn't necessarily earn their chips the sweet and white hat way.
The problem of hooking up with so many rotten Brokers is likely a function of the Internet. You are directly contacting the Listing Broker on each and every boat. In the old days, you would call on a magazine ad and the discussion and relationship would begin. You would either feel comfortable revealing your inner desires to the guy on the other end of the phone or you would find a reason to hang up.
A good Broker would tell you about the attributes of the particular vessel in your inquiry and then the conversation would lead into other potential choices. The Broker would shop on your behalf since he had the only access to the MLS. You now have access to YachtWorld and many other lists so you are in essence replacing that "trusted" relation and you now start a new relation each and every time you call on a boat directly. Not every Broker is worthy of your trust.
Brokers present opportunities. Speaking for myself, I try very hard to listen to your needs, draw from my experience and present every possibility I can bring forward. Are these my Central Listings? not often, I can't effectively manage more than about 15 listings at a time. and my Listings are a very eclectic collection of boats and Yachts. By the way, would anyone like to buy the NewCastle 102? I think a good Broker checks a wide spectrum of sources to bring to you all possible boats which you may have never considered. I don't get my best clients from the Internet, those shoppers either want that specific listing or nothing more of my skills and experience. The Internet is so full of bogus listings I hate it. How many times have you called and suddenly it is a "bait and switch" deal, scum brokers who don't actually have the listing but need your call.
If the Boating industry wasn't my daily business and I wanted to get into the pool, I sure as heck would find some guy.......or gal, sorry Judy, to show me the stairs, ladder and life ring. These are big bucks items and you can most definitely get hammered by making a wrong decision. Some of you are super experienced and you don't really need a Broker and this is fine but if they are attached to the deal then you are paying for nothing, try and use this to your advantage. I would go to the smaller house where the rules can be bent and ask if the Broker is willing to work for less commission, he will likely jump for the deal if he realizes he merely has to write up the deal.
Getting an offer on a vessel is not as difficult as "Selling" the offer. To think that we have some great influence to hold prices high so we can line our pocket is a bit out there. We are lucky to get both parties happy so a deal can happen.
Walk you through the process, yes this is another important function. Do keep us away from the Survey, keep your Surveyor as your "second" opinion, we have no business being present. It is your job to determine when your surveyor is embellishing. I must say for myself, I don't much like the survey process in the fact that many times a surveyor feels so compelled to find something, must be something wrong or they aren't doing their job. And then the opinions kick in, I have had surveyors who know the complete and total science of blisters. I finally suggested they needed to go speak to duPont and give them the breaking news because they would love to have the answer to the science. Please just tell us the boat has Blisters and how many.
Think about a Surveyor for a moment. They walk up to a boat in the morning and on a little boat, they will be done by mid-day or afternoon and they are supposed to know everything about the condition of that vessel. Not likely. They can tell you if an item turns on or off and if it comes up to temp. but to know about the real condition of an engine or true bonding of a stringer which can't be seen is a lot to ask of a surveyor.
Surveying and Brokering is imperfect, you will have the good guys and the bad and I think many of you go about seeking the best person by referral from others which you trust, this has to be the best way. Like a school for your kids, it all boils down to the relationship your child has with that teacher and very little to do with the school or institution. As we are all seeing from the horrible scandals resulting from enron, Worldcom, Prudential and the likes, sometimes the bigger they are and more advertising they are pouring out, may in fact, be covering the exact opposite of ethics. Porsche doesn't advertise much do they.
I must say, I do have a little clause in my Offer to Purchase contract which puts a very serious burden on the Seller with regards to condition of the vessel. I have not seen any other Brokers add such strong language but it is normal in real estate and in my opinion is should be normal in boats. Am I then siding with the Buyer because I put language which favors the Buyer, I don't think so, I am looking for fair, I "Broker" deals, the money gets paid by the deal not actually the Seller but it comes from the Buyer with his deposit. Did you ever wonder why the deposit is 10%. If I can't make a deal with both sides happy, no money comes at all.
I attempted 3 years ago to revamp the entire Buy Sell method of boat transactions and marketing. I looked at the huge 10% commission and the saturation of Brokers, the inconsistency of behavior, dissatisfaction of clients and I have an idea, anyone have 10 million and want to own the boat and yacht market? Its not how many ideas you have, its how many you can make happen, maybe I should make a bumper sticker.
I too should write a book on how to buy a boat from the Brokers perspective or at least add some chapters to your books. Many things can be done from the Buyers side to gain the favor of his Broker, improve loyalty and get a level of service like no other. I think young new Brokers go into the Business with the energy of youth and assume all old guys are crooks and they will be the only honest guy around, change the World but of coarse we all know the story of the young bull and the old bull up on the hill.
I am the Agent for Monaco Yachting Technology and sell new construction in big Yachts, I guess we would need a few more chapter to this book. I have also sold new production boats as well, this is another set of Chapters. Do I really want to pour out to the World all my inside knowledge yes but no, actually right now, I want to play with my family on this lovely Thanksgiving day.
I hope I have given some of you a bit of food for thought and I hope I will not be too grilled on this fantastic list. There are a zillion Brokers out there lurking away on this list but its pretty scary speaking up with you guys with gang power. Over the years you haven't said many nice things about your Brokers and this is a darn shame.
Do have a wonderful Thanksgiving and best wishes to all.
Sincerely, Gifford Tabor
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