The Broker’s Role for the Seller
Yacht brokers work hard to facilitate the sale of their listings and
to protect and promote the interest of their clients – the owners
k
AR
of those listings. Here are the things that a professional yacht
O
n cl broker will help you with:
nd
:
BRA Determining a fair asking price To ensure a timely sale, it
O
M
is essential to ask a fair price. A broker can help establish fair
T
O
.c
PHO
market value for your boat by using a combination of principle
ck
factors which will include your requirements, his experience
i
S
T
O
©
and a review of the previous history of comparable vessels.
YachtWorld.com members achieve the latter through access
representing some 3,000 offices and 5,000 individual yacht
to actual sold boat data, as reported by other
YachtWorld.com
brokers and salespeople in over 100 countries.
brokerage firms. Today, it contains the data from over 285,000
vessels. This massive resource is not available to the public. Preparing the boat The broker will advise of any
improvements that should be made to compete in today’s
Preparing an advertising strategy The professional broker
market, identify possible problems and help organise upgrades
will outline a plan of how a boat is to be advertised in the most
and repairs. Unless you are continuing to use the boat, the
appropriate media. For example, the best means to promote a
removal of your personal effects and any unnecessary equipment
Sunseeker Manhattan 64 are vastly different than the strategy
will make the world of difference, helping a potential buyer to
employed for an Azimut Jumbo. The broker’s objective is to
envisage himself on board permanently. All those clichés about
devise a strategy with the best chances of reaching the most
wafting the smell of coffee and home-baked bread around your
interested and qualified audience for your boat in the quickest
house when you come to sell it apply here too! The broker may
possible time. This process has become much easier since the
help locate easy-access moorings/storage for the duration of the
advent of the web helped to significantly improve the speed with
listing in order to increase the visibility of your boat.
which a broker can get his boat to market.
Sea trial and survey The buyer will usually request a sea trial
Preparing the listing for the public The broker will prepare
and the services of a marine surveyor to inspect his potential
the listing for distribution in various electronic/printed media,
purchase. In the spirit of caveat emptor, the buyer will pay to
incorporating distribution to previous contacts, other brokers,
have your boat hauled out of the water for inspection. Your
boat shows, open houses and walk-in enquiries. Sellers who
broker will usually attend the sea trial and survey to help
have listed their boat for sale with a
YachtWorld.com member
determine how any discovered deficiencies should be addressed
will see their listing advertised in
www.yachtworld.com, on
in the subsequent purchase negotiations.
the broker’s own website and on other partner sites selected
by the broker. At the broker’s discretion, your boat may also Negotiating the deal The broker will use his position as a
appear in this magazine and at certain events such as the www. middleman to keep the negotiations between buyer and seller
yachtbrokersvillage.com, thus employing a targeted distribution moving to a successful conclusion. Although his services are
to reach high net-worth individuals and active boat buyers. paid for by the vendor, this is where the broker has to skilfully
ensure that both parties are fairly represented and that any
Preparing the listing for the broker-to-broker Multiple
recommendations made by the surveyor are handled equitably.
Listing System When you list your boat with a YachtWorld.
com member, he may choose to solicit the help of other brokers Transfer of legal title and the balance of the funds At the
on a co-brokerage basis. He does this through the private completion of the sale, the broker is legally required to transfer
BoatWizard Multiple Listing System (MLS). The MLS is a powerful the full title to the boat to the buyer in return for transferring the
industry search engine that allows brokers to spread the net balance of the proceeds of the sale to you. For this the broker
through partners and associates who may be able to introduce a must have through knowledge of what maritime and admiralty
buyer instantly from their own client base. over 2,500 member liens might be secured against your boat in order that he can
brokerage firms have a password to this powerful MLS system, discharge them on your behalf. n
DeCeMbeR 2008 YACHTWORLD.COM 5
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