Life is better on a boat! Follow couples and families as they go on a wild hunt for their dream boat, exploring new destinations and all the fun activities that can be accessed by water. Along the way, buyers learn what boat features they can't live without before they ultimately decide to make this life-changing purchase see it all unfold on Boat Buyers.
Runtime: 30 minutes
Boat Buyers - Yacht broker - Netflix
A yacht broker is a specialist who serves yacht or boat sellers and/or buyers as a representative for the sale or purchase of a yacht or boat. The yacht broker is paid an agreed commission by the seller to market the yacht for sale, field interest and inquiries from buyers, handle negotiations, attend inspection and water trial and ultimately, if successful, to attend delivery. A buyer's broker may assist their client in locating and qualifying a vessel and assisting with purchase negotiations but is typically not paid a commission by buyer and instead shares in the commission paid by the seller to their broker. These two roles are referred to as Listing Broker (representing the seller and vessel) and Selling Broker (representing buyer).
Boat Buyers - Commission - Netflix
Similar to other industries (i.e. real estate) commission is usually paid by the seller of the vessel to a broker and agreed upon in advance of negotiation, typically as a key term in a marketing agreement, which is often called a Central (or Open) Marketing Agreement. Commission is either based on a fixed bottom line from the seller (Net) or as a percentage of the purchase price (Percentage). When commission is as a Percentage, it is typically 10% of the purchase price. Net agreements are becoming increasingly unpopular and are very rarely offered by Listing Brokers at the present time. While they may seem an attractive option for sellers and do work well for sellers in limited scenarios, they are typically only offered when the broker is planning to make more than the standard 10% as their commission or, if less, it is unlikely another broker will want to bring a buyer to negotiation and share in a commission which is less than the standard and expected amount. While standard commission rate is invariably 10%, there are scenarios and brokerages that offer to market and sell vessels for less. Brokers tend to negotiate commission to as low as 8% on vessels priced above $500,000 and even lower on vessels priced above $10,000,000. Commission on new construction is typically 6-7% of ultimate contract price. Reduced commissions however can have the unintended effect of alienating Selling Brokers who would otherwise alert a potential buyer to the vessel. While not common in the United States, it is not uncommon in some countries (especially in Europe) for buyers to pay a “buyer's commission” to their chosen broker to find a vessel for the buyer.