Benefits of Using a Yacht Broker vs Selling Private

Making the choice as to whether to sell your boat using an independent yacht broker or selling privately can be one that largely impacts many parts of the sale from finding potential buyers to the final sale price. In this article, we will discuss the benefits of using a broker to sell your boat and how this process is carried out so that you can make an informed decision on how you are going to sell your yacht.

What is a yacht broker?

A yacht broker is an independent business that is designed to help boat owners with the sale of their boats. They offer a range of services all designed to assist with achieving a boat sale from storage, cleaning, and preparation to conducting sea trials to arranging surveyors and all the legal paperwork required.

Choosing a yacht broker to sell your boat combines many of the small tasks involved in your boat sale into one easy package where you won’t have to endure the stress, time, or effort that comes with selling your boat privately. A broker is a specialist in the field of boat sales and will be able to help you to put together the right marketing to attract the kind of buyer you need.

Yacht broker services

A yacht broker will offer an array of services for you to choose from when it comes to selling your boat. The deal that you strike with your broker will depend on the kind of services that you need, and packages can vary depending on the size of your boat and the requirements you have when it comes to the sale.

Yacht broker services can include:

• Boat storage: A broker will often relocate the boat that you are selling to their berth or their yard to make it easier for them to show the vessel to potential buyers.
• Cleaning and maintenance: Like anything you are trying to sell, your broker will have teams on hand to arrange full cleaning and any maintenance that is required for your boat so that it is in top shape to achieve the best possible sales price.
• Marketing and promotion: Yacht brokers have insight and connection into the boat-buying community. They understand the type of marketing and promotion will attract the kind of buyers you need and will strategically plan the advertisement of your boat on your behalf.
• Sea trials: A lot of the time you spend when selling a boat is wasted on meeting potential buyers and conducting either sea or river trails. A yacht broker will handle these trials and buyer communication on your behalf.
• Surveying needs: As a professional boat sales company, your yacht broker will have a team of surveyors that they work with so that they can easily arrange the surveys required to complete the sale of your boat.
• Paperwork: Using a yacht broker makes the paperwork side of selling your boat much simpler than if you were to attempt to complete the sale yourself. As a specialist in the field of boat sales, your yacht broker will know which paperwork will be legally required to complete the sale of your boat.

The benefits of using a yacht broker over selling your boat privately

There are many benefits to be had by choosing to use the services of an experienced yacht broker. Achieving a sale in a timely manner and at the right price are the goals of every person looking to sell their boat and a broker can be someone who will help you to achieve that.

The benefits of using a yacht broker over selling your boat privately are:

• Increased visibility of your boat with the correct marketing
• Saved time and money on cleaning and maintenance by using a team that is approved by your broker and contracted at affordable rates
• Pricing your boat correctly regarding the current sales market
• Having access to a pre-qualified list of potential buyers
• Experienced negotiation skills
• Ensuring that all the correct paperwork is filed in relation to the sale of your boat

For those who choose to sell their boat privately, there is a great deal of effort to be put into achieving a sale to the right buyer at the right price in the right amount of time and choosing to use a yacht broker will make this entire process much easier for you.

The cost of using a boat broker

Yacht brokers often work on a commission basis. Depending on the package that you choose to take when it comes to the sale of your boat, there may be additional fees encountered when working with a broker to ensure that your boat is presented in the best possible light. These fees could be for advertising and promotion, cleaning and maintenance, or surveys that need to be conducted as part of the sale.

The fee structure is usually negotiated after an initial consultation with your chosen broker and a deal that is agreeable to both parties. Though some may be wary of handing out commission on the sale of their boat, using an experienced yacht broker can often result in achieving a higher sale price for your boat which is the aim of everyone involved.

Expert advice from a professional yacht broker

One of the advantages of using a yacht broker for the sale of your boat is that they know and understand the industry. Independent brokers make boat sales their entire world, so they keep a strong finger on the pulse of the current sales market. When it comes to selling your boat, it is important to have the right people on your team who can give you the best advice in every situation.

A professional boat broker will be able to help you to decide on the advertised price of your boat and is experienced in drafting legal bills of sale to ensure that the transfer of ownership for your boat is completely legal. This expertise is something that can save you hours and hours when it comes to selling your boat.

Selling your boat privately

If you choose not to use the services of a yacht broker and opt for selling your boat privately, the process automatically becomes much longer and increases your risk of not making the kind of sale you were hoping for.

The preparation, maintenance, cleaning, and arranging of viewings all become your responsibility if you choose not to use a yacht broker for the sale. There are also risks that you may encounter.

• Non-qualified buyers: Finding buyers who are qualified, meaning that they have the means to purchase your boat, is important to achieving a quick and successful boat sale. If you are selling privately then you have no way of knowing if the buyers that you are in contact with have the kind of money you are asking for or are likely to go through with the sale.
• Paperwork legalities: If you are not well-versed in the world of selling boats, then you may not know what the legal requirements are for selling your boat. When it comes to selling yachts, the paperwork needs to be precise to ensure that the transfer is correctly handled and that the sale is legal.
• Incorrect advertising: Advertising your yacht for sale in the right places will be key to achieving a quick and profitable sale. If you don’t do your research on the most effective places to market your boat for sale, you could be missing out on potential buyers which can draw out the length of time that it takes you to sell your boat.
• Increased sales time: In any sales scenario, it is important to strike while the iron is hot to get the best possible price. A yacht sale that is drawn out due to the boat being incorrectly priced at the beginning of the process is likely to bring you a lesser amount than the final purchase price.

How to choose between a private sale and a yacht broker

A yacht is an important asset and the sale of such a large item needs to be handled with the utmost care and precision. When it comes to choosing between selling your boat privately or using the services of an experienced and professional yacht broker you should weigh up the benefits and the risks of each direction.

If a quick sale at a good price is what you are looking for, then a yacht broker could be your best chance at achieving what you want, even if you have to sacrifice some of your eventual sale price in commission. If you have more time on your hands and you are willing to put in the time and effort that it takes to handle things yourself, then it is possible to sell your boat privately and still achieve a good outcome.

Making the choice between a private sale and using a broker is a personal one and there is no right answer for every situation. The most important thing is to consider all aspects of your boat sale and make sure you are choosing the path that will help you to achieve the best sale price for your boat.