Last month, we talked to Will MacIntyre (firstname.lastname@example.org), a 36-year yacht sales veteran with Emerald Pacific Yachts’ San Diego office, and the conversation was wide ranging enough that we weren’t able to use everything we talked about in the October issue. So what follows is more from our chat.
We asked MacIntyre about some of the assumptions buyers and sellers make that can cost them time, money or both, especially when it comes to working with a broker. He told us that with the proliferation of the Internet and the abundance of yacht listings available there, a lot of boat buyers feel like they’ll get a better deal working with the broker with the listing than they will by finding a broker of their own.
“The potential problem with that,” he said, “is that you’re not getting the same representation you would if you had a broker of your own. (Ed. note: MacIntyre lists plenty of boats, so he’s speaking from a position of having represented plenty of buyers and sellers over the years.)
A vast majority of brokers are going to do the right thing when they represent both parties to a sale, because they’re ethical, but the buyer might not get as much attention from the seller’s broker as he would if he had his own broker.
“The selling broker’s job is to get the seller as good a deal on the boat as possible, so the seller has to be his priority,” MacIntyre said.
On the flip side of that, some sellers make the decision not to go with a central listing, instead letting the boat be represented by all brokers in an open listing.
“The seller might be able to save some money that way,” MacIntyre said, “but the disadvantage to that route is you’re not getting any broker’s full attention.”
No single broker in an open-listing situation is going to have as in-depth a knowledge of the yacht as a central agent will, so some important questions may not have complete and appropriate answers.