At first glance selling your yacht privately may seem like a relatively easy and inexpensive way to go. But consider the following...
A professional yacht brokerage will advertise your yacht in a wide array of sites and media locations both domestic and international. They have the tools to get the maximum exposure included in a multiple listing system, client databases, print advertising, internet advertising, co-brokerage potential and industry contacts. A good yacht broker will be able to customize the advertising program to get the most attention for your yacht.
Knowing the industry and knowing which internet sites and which boating publications to advertise your boat in is very important. This can be very expensive and time consuming proposition if you are trying to sell privately.
Now consider the multiple listing system. Close to 75% of yacht transactions are cooperative sales through other yacht brokers. Through worldwide multiple listing services and other marketing networks, a broker has the tools to maximize exposure to your yacht.
Brokers are educated about how to price and market your yacht. They can recommend methods to make your yacht more presentable to the market thereby making it more desirable to the public. They will be able to give you information about the current market and help price your yacht accordingly. A broker can save you time and headaches by qualifying the prospective buyers. Experience has taught them to be able to size up the buyer and determine whether he is a serious shopper looking to make a purchase now or someone with a long term dream of someday making a purchase (usually when he wins the lottery). A broker will be the middle man, helping to negotiate a fair price for your yacht. He can help you evaluate a buyer's proposal without compromising your marketing position.
A well educated and experienced broker is a good closer. He can help resolve those unexpected results that almost always arise after a survey by either negotiating a price concession or helping you to coordinate and complete repair requests.
And finally he's there to make sure the closing process goes smoothly. He'll help coordinate all the necessary paperwork making sure the process is completed in a reputable and legal manner. He'll be responsible for escrowing the deposit and accepting and distributing the final payment to all parties involved.
In the long run a broker may actually save you both time and money. He's experienced at negotiating the best possible price. He'll be able to sell your yacht sooner thereby saving you months of dockage fees, insurance premiums, and maintenance costs. He'll save you time by qualifying buyers and saving you the aggravation of showing the yacht over and over to buyers not suited to the vessel or not yet ready to make a purchase.
"When Buying a Yacht"
At any given moment there are thousands of yachts on the market...where do you start trying to track down that perfect one for you. Professional yacht brokers have an extensive database of yachts and because of their many contacts may even be able to find those not yet on the market. They can save you hours of search time allowing you the leisure of taking your time and making the perfect choice. He's experienced at asking the right questions to help determine what is and is not important to you thereby assuring you're happy with your selection.
A professional yacht broker knows the current market. He knows when it's up and when it down. He can advise you on where to start with your initial offer and will negotiate on your behalf to get the best possible price. He can also be the middle man thereby preserving the relationship between buyer and seller. This is very important as it can be very valuable to maintain a good post-purchase relationship with the seller so that he will be available to answer questions and help with any problems that may arise after the sale is finalized.
Once you have decided on the yacht you want and have negotiated a price, it's time to place a deposit. A broker will be able to escrow your deposit assuring you that it will be held in a secure manner and will be fully available to be refunded to you if the deal is not completed. He will also accept and hold the final payment and will be responsible for distributing the funds correctly including making sure any outstanding mortgages are paid thereby assuring you of clear title to the vessel.
A reputable broker will always recommend you survey and sea trial the boat. Part of his service to you is to recommend the extent of the survey and to help identify the best surveyors in the area. He will not select a surveyor for you but should be able to provide you with a list of good qualified surveyors to choose from. He will coordinate the scheduling of the survey date so that it fits the schedule of all parties involved. He will help book the haul out of the vessel for bottom inspection. And finally he will attend the survey and be available to provide a buffer between buyer and seller on this very important day. He should be able to help you interpret the survey findings and make meaningful recommendations.
A good broker is up to date on all facets of the industry including financing, insurance, dockage, captains, and shipping companies. He will be able to recommend good reputable people in all these areas once again saving you time and energy in searching all the areas that will come into play during the buying process
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Finally the broker will coordinate all the paperwork necessary for a yacht sale closing including Bills of Sale, Warranty of Title, etc. He will be able to refer you to reputable Documentation Companies who can assist you with the sometimes complicated documentation process for both domestic and international ownership. He will be responsible for collecting the appropriate sales tax or advising you on the tax laws of the region where the purchase is taking place.
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