Selecting The Right Boat Broker
By Captain Marty Ward, Thu Dec 8th

When you’re interested in listing your boat for sale, selectingthe right boat broker is the key to having an easy andeffortless transaction. To help you find the boat broker who isright for you, follow these ten tips. Any broker can take yourlisting and advertise your boat in the trade magazines. But thebest brokers have an undeniable passion for boats and boating.Make sure any boat broker you’re considering meets all ten ofthese criteria and you’re bound to have a quick and easy sale:

1. Is affiliated with an established brokerage firm. Reputationis key in this industry, where fly-by-night brokerage firms area dime a dozen. Make sure the broker you select is affiliatedwith a reputable, long-standing firm, with a history of at least20 years in the business. Bigger is definitely better – the moreboats a firm has listed, the more potential customers will belooking at your boat. Make sure the firm is licensed andinsured. Ask to see their certificates before you sign on thebottom line.

2. Offers free appraisals of boats. Nothing is harder for abroker than trying to sell an overpriced boat. On the otherhand, nothing is more frustrating for a seller than feeling likeyou’re not getting the best value for your boat. The best boatbrokers are experienced enough to provide an honest evaluationof your boat’s condition. This allows them to quickly establisha fair-market value for the boat, from their own experience andcurrent market trends, so you receive top dollar and a quickersale.

3. Is a savvy negotiator. Experienced boat brokers know what themarket will stand. They know what the typical margin is foroffers and counteroffers. They can steer you away fromfrustrating interactions with buyers and sellers before theyhappen and they can keep small obstacles from becomingdeal-breakers.

4. Uses a Central Listing Agreement. To maximize your exposure,you want a broker who has an incentive to sell your boat. ACentral Listing Agreement establishes a one-on-one relationshipwith your broker, and outline’s the broker’s commitment toadvertising, promoting, and co-brokering the sale of your boat.

5. Has a solid network of brokerage contacts. Good brokersestablish and maintain positive working relationships with otherreputable brokers to give you the maximum exposure to potentialbuyers. They enlist other brokers to show your boat, no matterwhere it’s located, to facilitate a quick sale.

6. Has long-term, established connections with boaters. Boaterslike personal relationships.

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They like buying boats from peoplethey know, trust, and respect. The more boaters your brokerknows, the larger your pool of potential buyers. The bestbrokers have a lifetime of industry contacts, locally,regionally, nationally and internationally. Look for a brokerwho has established contacts in the industry. Thesecontacts may come from a wide range of places: teaching classes,owning and operating a sailing school, being active inboating-related charitable activities, crewing for racing teams,being active in Olympic-related events, etc.

7. Has hands-on experience. A broker who has spent timeaboard sailboats and yachts can more easily point out topotential buyers how the benefits of your boat match theirdesires. They can also give you quick and easy pointers forminor “fix-ups” on your boat that will create enormousadditional value for a buyer.

8. Has a history of going “above and beyond.” Being a goodbroker takes more than sharp sales skills. Good brokers have ahistory of going that extra mile for their customers. But don’tjust take a broker’s word for their commitment to you. Select abroker who has gone “above and beyond” in their personal lifeand you’re guaranteed to find a broker who will do the same foryou.

9. Is driven to succeed and to support the success of others. Acompetitive edge is important in a boat broker. It’s equallyimportant that your broker has a desire to create a win-winsituation so both the seller and the buyer come away from thetransaction feeling valued and satisfied. Look for evidence thatyour boat broker is both competitive and a team player, such astaking part in racing events, as both crew and support personnel.

10. Is willing to point out the strengths of your boat andoffers possible solutions to any problem areas. The best brokerswon’t sugar coat the condition of your boat, just to get yourlisting. They’ll be the first to point out areas that might be“stoppers” for a potential buyer. They will also work with youto design a strategy that includes possible solutions you’recomfortable with so these “stoppers” don’t become deal breakers.This way, your broker can help you sell your boat more quickly,in a manner that makes financial sense to you.

About the author:Marty Ward is a yacht broker with Bollman Yachts. Sailing since1963, Ward has cruised and raced from Maine to Bermuda,including as a member of the winning 2000 Rolex team. She hasserved on racing committees including the Melges, and theOlympic Yngling trials. For a free, no-risk appraisal of yourboat, contact Marty at 954-761-1122 or via email atmarty@bollmanyachts.com