How well do you know your broker?
What does he or she like to do for fun? Where does he hang out? Who are her friends? Where does he live? Does she have children or a pet?
Chances are, your broker shares many of your interests. He or she probably likes boating, cruising, or fishing, and may have a boat you would drool over. He may love his boat with a passion, but he’s also be looking for the next great deal, forever calculating in his head what he could get for his boat based on what he sees out there.
If he’s a good broker, he’s probably seeing a lot of boats. And looking at a lot more on listing services like BoatQuest.com. And once a month, the Florida Yacht Brokers Association (FYBA) hosts a little broker-only boat show. Called FYBA Third Thursdays, they draw about a hundred brokers, and they let FYBA members present their listings to other brokers. “We had almost 40 boats in our last “open house” and the demand from brokers to present their boats remains high,” says Ann Vernon, executive director of FYBA. Events like this make it easy for them to be honest about the boats they see, both to the listing broker and themselves. Doing that gives them a better sense of the market.
We think it’s a good idea to get to know your broker, and get a sense of who he or she is. How else can you establish that trust and take the relationship to the level where it needs to be? After all, everyone has high expectations for the relationship. Invest yourself in the process and you’ll know where you stand every step of the way. And in the long run you’ll find it’s easier to come out ahead.