Broker, dealer, buyer's agent: who works for whom?

In a boat transaction, the broker is appointed and paid by the seller: their commission, typically 5 to 10% of the sale price, is already built into the asking price. The dealer distributes new boats on behalf of one or more builders. Only the buyer's agent works contractually for you. The three roles are often confused, and sellers have no reason to correct the misunderstanding: knowing who pays whom changes how you read the whole negotiation.

The broker: appointed by the seller, paid by the seller

A yacht broker sells an owner's boat: valuation, listing, organising viewings, negotiating, and securing the transaction through to the bill of sale. Their commission — most often between 5 and 10%, tapering on larger yachts — is only earned if the sale completes. The direct consequence: their economic interest is that the sale happens, at the best price for their principal, the seller. That does not make them an adversary: a good broker filters boats, knows their history, holds the escrow and smooths the paperwork — services the buyer benefits from too. But they are neither neutral nor your adviser, and their opinion of the boat's condition never replaces an independent survey that you commission yourself.

Dealer and distributor: the new-boat channel

For a new boat you will usually deal with a dealer tied to a shipyard by a distribution contract, generally with territorial exclusivity. Their margin is built into the list price; their room for manoeuvre on the bare price is narrower than a used-boat broker's, but very real on options, electronics, antifouling, launch and commissioning, or the first year's berth. Boat shows are where dealers concentrate their best commercial gestures, especially on in-stock units. The dealer also handles the builder's warranty and after-sales service: geographical proximity, local reputation and the health of their workshop matter as much as the discount obtained. An excellent yard represented by a failing dealer means two complicated years of warranty claims.

The buyer's agent: the only one working for the buyer

The buyer's agent flips the logic: you appoint them to define the brief, source boats — including off-market —, organise viewings, manage the survey and lead the negotiation. Remuneration takes two forms: a fixed fee or a percentage of the price, often 1 to 3%, sometimes a share of the selling broker's commission — acceptable only if disclosed in writing. The benefit is twofold: a professional negotiating against professionals, and an experienced filter that spares you pointless viewings and problem boats. On a foreign market, a larger yacht or a first purchase, this is often what makes the difference. Our yacht buying service works on this principle: exclusive buyer representation, with no ties to sellers.

Conflicts of interest: the situations to watch

A few configurations deserve particular vigilance:

• the broker who 'represents' both parties without putting it in writing anywhere: ask who pays them, and how much;
• the surveyor warmly recommended by the selling broker: always choose your own;
• the broker who also repairs, stores or manages the boat being sold: their diagnosis is not neutral;
• the 'friend's great deal' sold privately with an unofficial intermediary paid behind the scenes.

None of these situations is necessarily dishonest; all of them justify a direct question. A serious professional answers 'who pays you, and how much?' without taking offence. The one who bristles has already answered.

Commissions and real costs: who pays what

In practice the buyer pays nothing directly to the selling broker: the commission sits inside the asking price — so the buyer funds it, indirectly. It remains a negotiation parameter: on a 200,000 € boat, an 8% commission is 16,000 €, and a broker keen to close sometimes has room on their own share. The buyer's agent is paid through direct fees or a disclosed commission share; insist that the method and the amount appear in the mandate contract. Weigh that cost against what it returns: a well-prepared negotiation, as our guide to negotiating a boat's price shows, often absorbs the fees — and the mistake avoided is priceless.

Where to start

• For every boat on your list, identify the real seller: private owner, appointed broker, or dealer? The negotiation framework follows from it.
• Ask upfront about the mandate — exclusive or not — and how long the boat has been on the market.
• Choose your own marine surveyor, never the one recommended by the other side.
• For a first purchase, a large budget or a foreign market, price what a buyer's agent would cost — and what they could save you.

The full journey from search to handover is mapped step by step in our buying process guide.