|
|
|||
|
|
|
||
|
|
|||
|
|
Working with a Buyers BrokerHow the Buyer Benefits: Defining The Requirements Most importantly, a professional broker will listen to what a customer needs, wants and dreams about in a boat. Many buyers, understandably, don't know exactly what kind of boat they want when they first begin shopping. The broker will listen to a customer's plans for the intended use of a boat, help establish a realistic price range and, from there, begin searching for the right boat. Offering A Network Of Listings Most brokers are active in a network of listings that covers Puget Sound and beyond, whether it's an MLS system, out-of-state contacts or cooperative working arrangements with other area brokers. Buyers want maximum access to available boats, which a good broker should be able to provide through his or her network of listings. Using Locate And Show Using the listing services, his peer contacts and his knowledge of the current market, a broker will conduct a search for suitable boats to show, whether they are on the broker's dock or elsewhere. The broker will then make viewing arrangements so the customer may see the most appropriate boats, thereby saving the customer time and effort. Making The Strategic Offer A professional broker, with his or her intimate knowledge of the current market conditions, the length of time the boat has been on the market and a familiarity of similar boats, can help a client craft a realistic offer that increases the chances of buying the boat for a fair and reasonable price. Facilitating Negotiations Too often, a transaction is nixed over a $500 item rather than a $5,000 difference in price. First, a broker can help the buyer and seller reach an agreement on selling price, and then he or she can keep the small obstacles from becoming insurmountable problems. In cases where the buyer and seller disagree, the broker can use his position as a middleman to instill trust and reason to both parties to allow negotiations to continue. Finalizing the Transaction Once an offer is accepted, the broker can ease the process of finalizing a transaction. This includes: Safeguarding Funds The customer's 10 percent earnest money deposit, based on the offer price, is safeguarded in an escrow account. All licensed brokerages are required by state law to maintain such an account, protecting a buyer's investment with the deposit of all money into this protected fund where it does not co-mingle with the brokerage's operating capital. Helping Arrange Financing A broker will know which lending institutions are the most active and competitive in marine financing. The broker's experience and professional contacts should help him steer customers towards the best possible deal. Assisting In Arranging A Survey A broker should provide a customer with a list of recommended marine surveyors, from which a buyer can then choose a surveyor to represent him in accurately assessing the condition of the boat. The broker should also have current knowledge of boatyards at which a survey may be conducted. Organizing A Sea Trial More than a joy ride or a mere formality, this is when the buyer discovers how a boat performs. A broker should be able to assist the buyer in making a realistic assessment of the strengths and weaknesses in the performance of a particular boat. Promoting Ethics Every broker should either be or work for a licensed brokerage or dealership. All members of the Northwest Yacht Brokers Association have also pledged to uphold a Code of Ethics. The broker's position as a middleman between buyer and seller places substantial ethical responsibility on him to ensure that both parties are treated honestly and fairly. If at any time the buyer believes he or she has been treated otherwise, that person may file a formal grievance with the NYBA's Ethics Committee and its non-binding mediation process. Preparing Paperwork To complete a transaction, the maze of paperwork can often be daunting to the buyer - from the initial Offer to Purchase to licensing and registration; to documentation and titling; to paying state sales tax and the federal user's fee; and all the way on to the final closing of the deal. A good broker will assist in making sure all aspects of a deal are properly completed. Troubleshooting With every potential transaction, there are a host of problems that can develop, whether it's a boat that needs yard work to establishing a clear title. A good broker will have the experience to assist the buyer in ensuring that problems stay small, and the knowledge on how best to resolve them to everyone's satisfaction. Sources for "The Broker's Role" include information compiled from: Cruising World, 48Ί North, Power & Motoryacht and Sail. Michael J Locatell CPYB President Northwest Yacht Brokers Association Dec 2005
|
|
|
||
Discovery Yachts
 |
||||||
|
||||||
