Why Use a Broker to Sell
Why use a Broker to Sell your Vessel?
If you’re ready to sell your boat or yacht, a key decision you’ll need to make is whether to sell it yourself or through a yacht broker. Fundamentally, if you sell the boat yourself, you won’t need to pay a broker’s commission, but without assistance, it will often take you longer to sell the boat and you may have to settle for a lower price. Generally, sellers work with brokers more often when the boats are newer, larger, and/or more expensive, but there are many other reasons to list boats of all sizes and conditions with a broker.
Selling a boat is similar to a real estate transaction. It’s usually too complex and involves too much value to risk doing it on your own. Yacht brokers work hard to facilitate the sale of their listings and to protect and promote the interest of their clients, just as a real estate agent will do when you sell your house.
Some countries, and states like California and Florida, require licensing of their yacht sales professionals. Most brokers in the US and Canada prefer to sign a “Central Agency Listing” with the owner/seller, which is similar to a multiple listing in real estate transactions. Essentially, this means your broker will manage all of the communications and information flow about the listing between you, other brokers, and potential buyers.
Along with the most obvious job of managing the communication and information flow, working with a broker provides a number of significant advantages. Brokers have a network of clients and may have a number of buyers in mind right from the start. They know the market well, especially in their specialized segment of it, and they have a solid understanding of how to properly price a boat or yacht.
Another advantage is that working with a broker gets you on the pages of YachtWorld. YachtWorld is the largest online photo and video database of new and used power and sailboats for sale, with well over 100,000 listings. And YachtWorld advertising services are only available to eligible yacht brokerage firms and dealerships who represent multiple boats for sale on behalf of owners/sellers. We do not offer our services directly to individual owners/sellers.
What will it cost to use a yacht broker?
Yacht brokers charge a commission when the vessel is sold, and the commission amount will be set in writing when the seller signs a listing agreement with the broker. If another broker brings a buyer to the table through a co-brokerage arrangement, the total commission will normally be shared between the brokers; it should not raise the commission. Many brokers work co-operatively with one another on a co-brokerage basis.
How do you find the right broker?
Selecting the right yacht brokerage when selling your yacht reduces the length of time your vessel is on the market as well as how much you can potentially get for it. When it comes to listing your yacht with a broker, don’t settle. You can and should expect more from who is working for you! What makes Palm Beach yacht sales unique? Palm Beach Yacht Sales has been in business for over 30 years. We are a boutique brokerage offering personalized service, so you will never get lost in the crowd. We offer quality personal service, you are not just another customer, we appreciate each and every customer and work hard to achieve success.
Located on Singer Island, specializing in saving our clients time and money, we have the technical skill and experience needed to market and advertise your vessel for the purchase, sale, or trade that best meets your needs. We have the legal expertise to handle sophisticated yacht acquisition and sale transactions and we pay attention to our clients and work hard to satisfy their wishes. Palm Beach Yacht Sales enthusiastically advertises, markets, and promotes the boats we offer for sale, we work with several major marine finance companies to accommodate our clients’ financial requirements.
With over 30 years of marine experience and cutting-edge selling techniques, Palm Beach Yacht Sales works with other brokers from around the world to give our customers the best service available which is why we are your best choice for brokerage services.
Yacht brokers bring massive value to the sales process, which is why we recommend using one to sell your vessel, we would be honored to be your top choice in yacht brokers. Call us today to get started!