Why use a yacht broker? Part II

Your time is valuable. Do you want to be dealing with this stuff?

Let’s talk about why it is worth using a broker to the majority of yacht buyers and sellers worldwide:

1. Expert Market Knowledge and Pricing

We know the boating market, including current trends, pricing, and buyer behavior. We can provide a market analysis to help sellers price their vessels competitively and assist buyers in making informed offers. This expertise ensures that transactions are aligned with market realities, maximizing value for both parties.  While there are many websites where sellers can market their boat, we have access to several tools (ie comparing yachts sold) that non brokers don’t have.

2. Comprehensive Marketing Strategies

For sellers, yacht brokers offer robust marketing services.  This all begins with a great listing.  (Not all brokers do great listings, see my earlier blog post on yacht listings).  Great pictures and videos, detailed descriptions, equipment lists, upgrades, etc all need to be part of the listing.

At Latitude, we’ll then do a mailing to our list of more than 13,000 boat owners.  This client list also gets informed of price changes, new listings, etc.

Your listing will automatically go up on more than 2 dozen websites.  We’ll constantly improve and update your listing which automatically goes to these sites.

Did I mention we do videos?  Check this one out: Captain Dave's Video

We go to boat shows where your boat listing will be available for viewing by potential buyers.

We participate in industry roundtables, and we sponsor industry events so we can keep you updated on the latest maritime issues/developments.

3. Coordination of Surveys and Sea Trials, etc

We have networks of contractors and experts who the buyer can talk to about doing surveys; we know all the boatyards so we can coordinate things such as slips and short hauls; if your boat is custom, vintage or unusual we can usually find someone who knows the model and can be involved in the survey or dealing with any survey findings.  Do you need a captain?  Is there a rigging or an engine issue that needs to be dealt with?  We know people who can help with that.

4. Documentation, Negotiation and Transaction Management

Does the boat have a lien on it?  Is it properly titled?  Is there financing involved?  What if the boat isn’t properly documented?  Is the transaction in compliance with maritime regulations? We have the expertise and network to deal with these and just about anything else that comes up.  And believe me, something almost always comes up. 

When it comes to transacting the boat, we can deal with banks and financial institutions, attorneys if needed and we know what the best practices are.  As an example, NEVER transact a boat on a Friday.  There are many reasons for this, if you are interested reach out to me.

5. Qualifying inquiries

Many of the people who inquire about buying a yacht don’t pass the smell test.  If you’re selling a boat for $200K, do you want to be dealing with the guys who call you and offer $100K?  I’ve had inquiries where the buyer wants to put some small amount down and then finance the rest with the seller in the form of rent!  A broker colleague of mine once had a buyer who looked at 12 different boats and never made a decision. We can qualify these out for our sellers so they don’t have to.

6. Time and Stress Reduction

We get many of our listings from sellers who first tried selling their boats themselves.  Sure, some are successful, but most find that managing the sale or purchase of a yacht independently can be time-consuming and stressful. Brokers handle the myriad details involved, from marketing and scheduling viewings to negotiating terms and finalizing paperwork. Our involvement allows you to focus on enjoying the yachting experience rather than being bogged down by logistical challenges.

Your time is worth money. Let us minimize that so you can continue your yachting journey sooner rather than later.