Selecting the
Right Boat Broker
By Captain Marty Ward
When youre interested in listing your boat for sale, selecting the
right boat broker is the key to having an easy and effortless
transaction. To help you find the boat broker who is right for you,
follow these ten tips. Any broker can take your listing and
advertise your boat in the trade magazines.
But the best
brokers have an undeniable passion for boats and boating. Make sure
any boat broker youre considering meets all ten of these criteria
and youre bound to have a quick and easy sale:
1. Is affiliated with an established brokerage firm. Reputation is
key in this industry, where fly-by-night brokerage firms are a dime
a dozen. Make sure the broker you select is affiliated with a
reputable, long-standing firm, with a history of at least 20 years
in the business.
Bigger is
definitely better the more boats a firm has listed, the more
potential customers will be looking at your boat. Make sure the
firm is licensed and insured. Ask to see their certificates before
you sign on the bottom line.
2. Offers free appraisals of boats. Nothing is harder for a broker
than trying to sell an overpriced boat. On the other hand, nothing
is more frustrating for a seller than feeling like youre not
getting the best value for your boat. The best boat brokers are
experienced enough to provide an honest evaluation of your boats
condition. This allows them to quickly establish a fair-market
value for the boat, from their own experience and current market
trends, so you receive top dollar and a quicker sale.
3. Is a savvy negotiator. Experienced boat brokers know what the
market will stand. They know what the typical margin is for offers
and counteroffers. They can steer you away from frustrating
interactions with buyers and sellers before they happen and they
can keep small obstacles from becoming deal-breakers.
4. Uses a Central Listing Agreement. To maximize your exposure, you
want a broker who has an incentive to sell your boat. A Central
Listing Agreement establishes a one-on-one relationship with your
broker, and outlines the brokers commitment to advertising,
promoting, and co-brokering the sale of your boat.
5. Has a solid network of brokerage contacts. Good brokers
establish and maintain positive working relationships with other
reputable brokers to give you the maximum exposure to potential
buyers. They enlist other brokers to show your boat, no matter
where its located, to facilitate a quick sale.
6. Has long-term, established connections with boaters. Boaters
like personal relationships. They like buying boats from people
they know, trust, and respect. The more boaters your broker knows,
the larger your pool of potential buyers. The best brokers have a
lifetime of industry contacts, locally, regionally, nationally and
internationally. Look for a broker who has established contacts in
the boating industry. These contacts may come from a wide range of
places: teaching classes, owning and operating a sailing school,
being active in boating-related charitable activities, crewing for
racing teams, being active in Olympic-related boating events,
etc.
7. Has hands-on boating experience. A broker who has spent time
aboard sailboats and yachts can more easily point out to potential
buyers how the benefits of your boat match their desires. They can
also give you quick and easy pointers for minor fix-ups on your
boat that will create enormous additional value for a buyer.
8. Has a history of going above and beyond. Being a good broker
takes more than sharp sales skills. Good brokers have a history of
going that extra mile for their customers. But dont just take a
brokers word for their commitment to you. Select a broker who has
gone above and beyond in their personal life and youre guaranteed
to find a broker who will do the same for you.
9. Is driven to succeed and to support the success of others. A
competitive edge is important in a boat broker. Its equally
important that your broker has a desire to create a win-win
situation so both the seller and the buyer come away from the
transaction feeling valued and satisfied. Look for evidence that
your boat broker is both competitive and a team player, such as
taking part in racing events, as both crew and support
personnel.
10. Is willing to point out the strengths of your boat and offers
possible solutions to any problem areas. The best brokers wont
sugar coat the condition of your boat, just to get your listing.
Theyll be the first to point out areas that might be stoppers for a
potential buyer. They will also work with you to design a strategy
that includes possible solutions youre comfortable with so these
stoppers dont become deal breakers. This way, your broker can help
you sell your boat more quickly, in a manner that makes financial
sense to you.
About
the Author
Marty Ward is a
yacht broker with Bollman Yachts. Sailing since 1963, Ward has
cruised and raced from Maine to Bermuda, including as a member of
the winning 2000 Rolex team. She has served on racing committees
including the Melges, and the Olympic Yngling trials. For a free,
no-risk appraisal of your boat, contact Marty at 954-761-1122 or
via email at marty@bollmanyachts.com
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