Broker question

3 years ago
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Lenn
Lenn
NSW
174 posts
NSW, 174 posts
4 Feb 2023 8:37am
Hi All,

Boat purchase question...
Is there a requirement for a broker to present a formal offer to the vendor / owner of a vessel? i had a quick squiz at the BIA website but it looked like a fair bit of fluff to me
Toph
Toph
WA
1884 posts
WA, 1884 posts
4 Feb 2023 9:10am
It may be state based rules, but I believe no, they don't have to. I remember reading that there was criteria that had to be meet (both ways in the offer). As an extreme example if the boat was listed for $300k and you offered 50k, the broker didn't have to present it
Lenn
Lenn
NSW
174 posts
NSW, 174 posts
6 Feb 2023 2:20pm
Thanks for the response Toph.....

my situation is i have put an offer via email through to the broker and sent a follow up sms but have heard nothing back(its only been 3 days but a courtesy response is expected at a minimum!....was my offer offenisve? dunno until he calls or gets back to me, previous purchases through broker(s) (4 in total) have always been a decent-enough experience...i am set on this particular boat but disappointed in the lack of engagement from the broker.

i will call him or failing that the office tomorrow but hate to be in the chase position.
Lenn
Lenn
NSW
174 posts
NSW, 174 posts
7 Feb 2023 4:30pm
closing statement on this one:

I tried calling the broker today, he put my call straight to an sms response...i msg him back saying please call at your convenience..

Looks like i need to just get over it and forget the boat he is representing (i am / was keen on it), disappointing but i was not going to offer at the asking price but certainly did not think that an offer of 40k on a 55k asking price was offensive (and triggering this brokers way of dealing with an offensive offer)...i would maybe expect if i was just fishing and offered 25or 30k.....my research netted that recent sales of same boat in varying condition over the past ~6months was asking prices ranging from ~20k to 60k...and this one had an unclear history (that was given), 12 yr old rigging and standing rigging....kind of the usual story for a 30+ year boat kept with varying levels of maintenance enthusiasm.....my justification given in the letter of offer stated that regardless of survey / seatrial my offer is already taking into these (and a few others like Q. wiring and batteries due for a good looking at etc...in general items that would need my investment and attention to be comfortable hugging the coast of Sydney.

at the end of the day i will find another boat, and will never recommend or say a good thing about this particular broker....(if anyone asks)

that is my side of the story, he does not have one really apart from what i assume is his attitude to an offer of the kind i made.

thanks for watching, this rant / therapy did not make me feel any better for the situation...but sharing is caring
julesmoto
julesmoto
NSW
1579 posts
NSW, 1579 posts
7 Feb 2023 5:10pm
Lenn said..
closing statement on this one:

I tried calling the broker today, he put my call straight to an sms response...i msg him back saying please call at your convenience..

Looks like i need to just get over it and forget the boat he is representing (i am / was keen on it), disappointing but i was not going to offer at the asking price but certainly did not think that an offer of 40k on a 55k asking price was offensive (and triggering this brokers way of dealing with an offensive offer)...i would maybe expect if i was just fishing and offered 25or 30k.....my research netted that recent sales of same boat in varying condition over the past ~6months was asking prices ranging from ~20k to 60k...and this one had an unclear history (that was given), 12 yr old rigging and standing rigging....kind of the usual story for a 30+ year boat kept with varying levels of maintenance enthusiasm.....my justification given in the letter of offer stated that regardless of survey / seatrial my offer is already taking into these (and a few others like Q. wiring and batteries due for a good looking at etc...in general items that would need my investment and attention to be comfortable hugging the coast of Sydney.

at the end of the day i will find another boat, and will never recommend or say a good thing about this particular broker....(if anyone asks)

that is my side of the story, he does not have one really apart from what i assume is his attitude to an offer of the kind i made.

thanks for watching, this rant / therapy did not make me feel any better for the situation...but sharing is caring


Offer 55 and say you can only meet him at some out-of-the-way place like the boat then don't turn up :-).
Lenn
Lenn
NSW
174 posts
NSW, 174 posts
7 Feb 2023 5:19pm
julesmoto said..

Lenn said..
closing statement on this one:

I tried calling the broker today, he put my call straight to an sms response...i msg him back saying please call at your convenience..

Looks like i need to just get over it and forget the boat he is representing (i am / was keen on it), disappointing but i was not going to offer at the asking price but certainly did not think that an offer of 40k on a 55k asking price was offensive (and triggering this brokers way of dealing with an offensive offer)...i would maybe expect if i was just fishing and offered 25or 30k.....my research netted that recent sales of same boat in varying condition over the past ~6months was asking prices ranging from ~20k to 60k...and this one had an unclear history (that was given), 12 yr old rigging and standing rigging....kind of the usual story for a 30+ year boat kept with varying levels of maintenance enthusiasm.....my justification given in the letter of offer stated that regardless of survey / seatrial my offer is already taking into these (and a few others like Q. wiring and batteries due for a good looking at etc...in general items that would need my investment and attention to be comfortable hugging the coast of Sydney.

at the end of the day i will find another boat, and will never recommend or say a good thing about this particular broker....(if anyone asks)

that is my side of the story, he does not have one really apart from what i assume is his attitude to an offer of the kind i made.

thanks for watching, this rant / therapy did not make me feel any better for the situation...but sharing is caring



Offer 55 and say you can only meet him at some out-of-the-way place like the boat then don't turn up :-).


woko
woko
NSW
1802 posts
NSW, 1802 posts
7 Feb 2023 8:42pm
Estate agents & produce agents have also been known to pull that stunt, any offer under their asking price is a cut the commission, & would rather loose a sale and burn the vendor to artificial inflate sale prices.
poor bugger trying to sell has no idea that an offer has been made
saltiest1
saltiest1
NSW
2573 posts
NSW, 2573 posts
9 Feb 2023 12:23pm
A bit of sleuthing and you'll likely find the owner
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