Why Sell Your Boat with a Yacht Broker?

August 10, 2023

So, you’ve decided that now’s the time to sell your boat or yacht, a key decision you’ll need to make is whether to sell it yourself (privately) or through a professional yacht broker.

What’s the difference?

On a very basic level, if you sell your boat yourself you won’t need to pay commission, but without the assistance of an experienced yacht broker, it is more than likely that it will take longer to sell your boat and you may end up having to settle for a lower price than you had in mind. 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.

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What will our yacht brokers do for you?

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. Yacht brokers can make a sale go more smoothly right from the very beginning of the process. One of the first ways that yacht brokers can enable a successful and stress-free selling process is by determining a fair asking price. Setting a fair price from the get-go will help ensure a timely sale.

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Expert Advice

With a wealth of experience behind them, our brokers can advise you of any improvements that should be made to your yacht to make it competitive in the current market, identify possible problems and solutions, and help organise upgrades and repairs. At Yachtsmen International we have our own in-house Service & Refit department which streamlines such activities. Our waterfront placement at The Boat Works in the heart of the Gold Coast’s marine precinct gives ease of access to such services, as well as providing additional exposure for your yacht.

Professional Yacht Marketing

A prime objective of your yacht broker is to devise a strategy that has the best chance of reaching the most interested and qualified audience for your yacht. This means that the dedicated broker will prepare a marketing strategy of how a listing is to be advertised in the most appropriate media. For example, the best means to promote a 47′ Riviera is quite different than the strategy for a 115′ Sunseeker. The first step in creating a great listing is quality copy and imagery, including internal and external photos, video, and drone content.

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The broker will prepare the listing for distribution in various electronic and print media, for print and email distribution to clients and other brokers, and for distribution to prospects at boat shows, open houses, and walk-in enquiries. Sellers who list their yacht for sale with Yachtsmen International will see their listing displayed on Yachtsmen.com, boatsales.com.au, on boatsonline.com.au, and in other yacht sales platforms (depending on the listing). If it is a centrally listed yacht, your broker will also make use of broker-to-broker multiple listing services (MLS) such as Boat Wizard (yachtworld/boats.com) and YatCo.

Communication & Negotiation

Throughout the process the broker will act in the best interest of both the buyer and seller. They will use their position as a middleman to manage the expectations of both parties and keep negotiations between buyer and seller moving toward a successful conclusion.

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Admin & Attention to Detail

A key point to remember is that professional yacht brokers will understand the principals of the brokerage profession—things like drafting and execute the ‘Offer To Purchase and Sales Agreement’ (Sale Contract), coordinating the pre-purchase vessel inspection, out of water hull inspection and mechanical inspection, completing all contract administration (including security checks to ensure the vessel is not the subject of any bond, mortgage, lien, or encumbrance), transfer of registration ensuring compliance, transfer of distress beacons and equipment warranties, and assist with insurance and asset protection.

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Sea Trial & Survey

As previously mentioned, the buyer will usually request a sea trial and the services of a marine surveyor. Buyers pay for the surveys and for hauling the boat out of the water for inspection. Your yacht broker can help you source a reputable surveyor, as well as assisting with organising the lift-out, and will usually attend the sea trial and marine survey.  Following survey and inspection, your broker can help you determine how any highlighted issues should be addressed in the purchase negotiations.

Yacht brokers bring a lot to the sales process, and at Yachtsmen International we are here to ensure the sales process is as smooth and efficient as possible, working in our client’s best interests for a successful outcome all-round. Reach out to our professional Gold Coast team today to discover how Yachtsmen International can help you.