Who Pays a Boat Broker?
A boat broker is a professional who assists in the buying and selling of boats. They are knowledgeable about the market, and can help buyers find the right boat for their needs, as well as helping sellers get the best price for their vessel. But who pays a boat broker?
Buyers Pay Boat Brokers
When a buyer is looking to purchase a boat, they will typically pay the boat broker for their services. The broker will usually charge a commission based on the sale price of the boat. This fee is typically paid by the buyer at closing, and is usually between 5-10% of the total sale price.
Sellers Pay Boat Brokers
In some cases, sellers may also be responsible for paying a boat broker’s fee. This is often done when a seller wants to list their boat with multiple brokers in order to increase its exposure and maximize its potential sale price. In this case, each broker will typically charge a fee that is paid by the seller.