[SeaEric]

I have lately experienced quite a "run" of wacko, time wasting, unqualified customers that come to look at boats for sale. These folks have no real interest and/or ability to consummate an actual deal. I have shared privately these experiences with some of my yacht broker colleagues who have had similar contact with some of the very same players.

This is a fantasy- and I know I can't do this; especially here on YF- But I would really like to post a list of the names. Yacht broker beware.

Is this just another phenomenon of our challenging economic times?

[Peter Barrett]

Originally Posted by SeaEric

I have lately experienced quite a "run" of wacko, time wasting, unqualified customers that come to look at boats for sale. These folks have no real interest and/or ability to consummate an actual deal. I have shared privately these experiences with some of my yacht broker colleagues who have had similar contact with some of the very same players.

This is a fantasy- and I know I can't do this; especially here on YF- But I would really like to post a list of the names. Yacht broker beware.

Is this just another phenomenon of our challenging economic times?

SeaEric,
I recognise the "type" you're referring to & unfortunately they're international & breeding fast. I've been selling real estate for 36 years and if I had a quid (dollar) for every tyre kicker and or carpet crusher encountered I'd no doubt have enough to buy a decent boat from you. Ah well, all part of life's rich tapestry!

[Seafarer]

I would say it's far from a waterborne phenomenon. In my line of work I get to talk to a fair number of yacht brokers of the four-wheel land yacht variety as well as four- and two-wheel go-fast brokers. They see the same thing, pipe dreamers coming in to kick tires, surprised that the merchandise isn't being shoveled out the door at below fire sale pricing. They come in with delusions of grandeur about their wallets and illusions of finding the loss-leader deal that nobody else has yet smoked out of the companies.

If the $70k Caddy CTS-V isn't $15k out the door, what makes a person think that a $200k Lambo Gallardo LP560-4 is going to roll off the showroom floor for $90k? A friend of mine had someone seriously offer $90k cash for a $214k sticker Lamborghini.

The manufacturers do collect the names of these people, and they are from time to time disseminated to the dealers. Those of us who are tangential to the industry just get a good laugh from the secondhand stories.

[NYCAP123]

I'm in the market for a Harley. There are some factors to consider from a buyers perspective such as there's a lot of talk about Harley needing to change its business model. Most of all, prime riding season here ends in a week. A seller may not want to think about these things, but what buyer wants to be the last one to buy something before the price falls. Just ask anybody who bought a house 2 years ago. Now I intend to make a good deal for me, but if I make a stupid bid you might be desperate and say yes. Otherwise we've just begun negotiations. But wouldn't I feel foolish spending a bunch of money that didn't need to be spent for fear of asking a simple question. A friend in the real estate business once told me that it takes him about 100 showings before he makes a sale. So each time he showed a house he smiled and muttered 'thanks for bringing me closer to the sale'.

[lobo]

Well, the trick probably is to know your market and not trust the brokers too much, it’s their business to sell high. Research the target’s time on market, the asking price history, the owner, etc. and then make an educated bid, explaining in some detail where you come from. At least it worked for me: we made an “educated” bid of $500k cash on a SY asking $1.5mio, got a rude response, 6 month later the broker calls and we buy at $515k. It all depends on the situation, I guess….

[CODOG]

But surely if the only humans you came in contact with were actual buyers, you would get extremely bored ? Flicking elastic bands at your staff can get stale quite quickly.

[NYCAP123]

Originally Posted by lobo

Well, the trick probably is to know your market and not trust the brokers too much, it’s their business to sell high. Research the target’s time on market, the asking price history, the owner, etc. and then make an educated bid, explaining in some detail where you come from. At least it worked for me: we made an “educated” bid of $500k cash on a SY asking $1.5mio, got a rude response, 6 month later the broker calls and we buy at $515k. It all depends on the situation, I guess….

Well, I guess that offer definitely qualified you as a "wacko, time wasting, unqualified customer". Personally, for $985,000, I'll be that and a whole lot more. It's a salesman's job to get your money into his pocket. I consider it my job to keep it in mine. Now if I could just get my wife to understand that concept.

[Savasa]

Greetings,
SeaEric, I can empathise with your exasperation but we must have looked at 70 or 80 boats (we had 3 surveys done-only one passed) in our recent search (3 years ago) and we ran into all kinds of BROKERS!
The most memorable fellow was a house painter (still had his overalls on) and the porch he must have been painting the day he showed us his listed boat was dark green.
We used Lobo's technique and made an offer-nope. Even the painter's boss agreed that our offer was quite fair.
Aside from Yachtbrokerguy (Tucker Fallon) most fell short of Mr. Fallon's service AND outstanding performance. That being said, most were quite pleasant to deal with none-the-less. Our search for "our" boat took about 1.5 years and now we're BOATING wackos.
Savasa

[SeaEric]

Perhaps I need to clarify-

I'm not talking about customers who make legitimate offers, in writing, low or otherwise.

I'm talking about, in particular, a recent customer who made a cash offer ( no financing contingency) in writing with a check for a deposit. The offer was accepted after some negotiation. A day or two later the customer informs me that he does not have the cash for the purchase, or the funds in the account on which the deposit check was drawn (which has now had payment stopped).

The "excuse" is that the customers intended line of credit had mysteriously vanished. This after years of this same guy inquiring and looking at dozens of yachts and making scores of offers which were not accepted.

I welcome any and all sincere customers to come, look, make their best offer in writing with a real deposit, and get whatever "deal" we can get the seller to accept.

[NYCAP123]

Truly there are people who get some sort of perverse pleasure out of wasting people's time, and salespeople are an easy mark. I think they're the same people who drive 50mph in the left lane, then speed up when you try to pass on the right. It's their one pitiful way of gaining some sort of power. I just push them off the road. A salesman's version would be to qualify the prospect. Not easy, but that's why the best waste the least amount of time. Personally, I'll push for a "no" rather than settle for a "maybe" which would probably make me a lousy salesperson. Zero patience for time wasters.

[Seafarer]

Originally Posted by lobo

Well, the trick probably is to know your market and not trust the brokers too much, it’s their business to sell high. Research the target’s time on market, the asking price history, the owner, etc. and then make an educated bid, explaining in some detail where you come from. At least it worked for me: we made an “educated” bid of $500k cash on a SY asking $1.5mio, got a rude response, 6 month later the broker calls and we buy at $515k. It all depends on the situation, I guess….

Originally Posted by NYCAP123

Well, I guess that offer definitely qualified you as a "wacko, time wasting, unqualified customer". Personally, for $985,000, I'll be that and a whole lot more. It's a salesman's job to get your money into his pocket. I consider it my job to keep it in mine. Now if I could just get my wife to understand that concept.

It's a different world between sale and resale.

[Lrgyot]

I too have experienced many of the same types, and If i understand the OP correctly, its not regarding buyers who look at 25+ boats, because any broker will not mind doing this, as long as his buyer is serious.

These 'customer' stories are really quite unbelievable, I've spent hours on the phone to these people answering every question possible, and when it comes to the time of sending me back that contract or purchase agreement they magically seem to disappear.

Of course, we can never actually know until the time comes to sign that contract and pay the piper, and have to treat everyone as a legitimate buyer until they show us otherwise. However frustrating it may get at times!

[SeaEric]

Originally Posted by Lrgyot

I too have experienced many of the same types, and If i understand the OP correctly, its not regarding buyers who look at 25+ boats, because any broker will not mind doing this, as long as his buyer is serious.

I have spent as much as 4 years working with a buyer to find the right yacht. I'm more than willing to do that. This assuming the buyer is legitimate and sincere.

These 'customer' stories are really quite unbelievable, I've spent hours on the phone to these people answering every question possible, and when it comes to the time of sending me back that contract or purchase agreement they magically seem to disappear.

Exactly the subject of this post. The offer on the boat usually involves the trade of a beachfront condo. Somehow, the signed agreement and deposit check never arrive. Then subsequent voice mail messages and e-mails go unanswered.

[NYCAP123]

Whenever I've dealt with a courteous person trying to sell me something I've always tried to let him know why the deal won't go forward whether that be I bought someting else or left the market for whatever reason. Most don't, but it's just a nicer way to do business. Plus, if I ever do go back to that person I find them eager to help.

[pwd3]

Buyers are liars.......sellers are story tellers