It is without a doubt that we all like money, this means that most of us frown at the thought of having a broker take away 10% of their earnings for services rendered. That’s why most people prefer to sell their property themselves; I know it sounds awesome to sell something at full price without having to worry about how the booty will be shared.
But the truth is if you tone down your excitement you will notice that there are drawbacks associated with selling a yacht yourself, for one, you will have to do all the work alone. Note that, to get your boat in top condition you will have to do lots of work some of which will cost you money and lots of time.
One particular job that will keep you busy the longest is keeping the boat in top-notch condition at all times this means that you will have to clean the yacht each time a potential buyer shows interest and decides to come to see the vessel, keep the engine in check, do all the legal work, and negotiate with buyers. This was critical in the sale of a charter boat that was used for a local BC sturgeon charter company.
We recently helped a local whale watching outfit purchase a new open bow boat for their tours. This was done at a fraction of the normal cost. Negotiations will determine how much you make from the deal; this means that if you are not good at it, you will end up selling your yacht at a loss.
Benefits of hiring a broker when selling
Selling is all about exposure, this means that in order to sell a yacht you will have to expose it to as many buyers as you can. What a broker can do for you is, expose your yacht to a wider audience.
Understand that exposure is good only if targeted at the right people; if you target the wrong audience selling the yacht won’t be easy. Simply put you need someone who knows exactly what he or she is doing. See our blog for more tips.
As experienced brokers, we employ an aggressive marketing campaign which is targeted at people who buy yachts if you decide to sell on your own finding this market can be difficult because you don’t have the connections or the network to make it possible.
Brokers also help you find flaws on the vessel that might make potential buyers look away; they will also help you through the legal aspects of sales and negotiations.
Why hire a broker when buying
Buying a yacht cannot be compared to buying bread; this is because it will cost you a lot of money. If you make the wrong decision you will buy something that has no value for money. A broker will help you to choose the right boat, help you negotiate the right price, and help you secure financing for the yacht.
If you don’t know much about how yachts work, it will be very easy for someone to sell you a vessel that is in bad condition at premium rates. Simply put, it’s easy to lose your investment on something that is not worth it, brokers know exactly how yachts work this means that your broker will advise you on when to buy and when to move on.