Blog Post II How to find the right Yacht Broker
How to Find The Right Yacht Broker
Whether you’re in the market for a new yacht, used sailboat or looking to sell one, choosing the right yacht broker ensures you get the best service possible for what could be an otherwise overwhelming experience. Don’t be tempted to think “ yeah, I’m good at selling I can do it myself.” As the saying goes, you wouldn’t represent yourself in court even if you are a lawyer, right?!
From access to exclusive listings to a network of potential buyers, the right yacht broker will make the selling or buying process, seamless and easy. But with thousands of brokerages out there, how do you choose the right yacht broker to meet your needs? Look no further than this article to learn the wheres, whats, and hows for selling or buying your next yacht.
Where Should You Look For a Yacht Broker?
Word of mouth is your friend. If you have access to a local marina, ask for recommendations and look for brokers with repeat clients. You could also ask for help from a local yacht club or a professional association like the International Yacht Brokers Association (IYBA). (Ferdinand Nimphius is a certified International Yacht Broker listed in the IYBA)
What Should You Look For in a Yacht Broker?
Experience
The number one thing to look for when considering brokers is experience, not just within the industry, but with the specific kind of yacht you’re looking to buy or sell. A broker with knowledge of your yacht’s type will understand how to price it, what to offer, and the specific documentation and processes associated with the make and model. The paperwork trail can be daunting and a good broker knows how to not only handle all documents required but can walk you
through the steps with patience.
Reputation
When evaluating a broker’s reputation, research the brokerage firm and the professional history of the person you want to work with. In our case, Ferdinand is a 50 year Shipwright. Honesty comes first and foremost, so you can feel comfortable knowing he isn’t tryng to sell you a piece of “fiberglass”:)
Knowledge
A good yacht broker will have a working knowledge of the industry including access to market insights, an extensive network of buyers and sellers, and negotiation skills, all contributing to making your experience as stress-free as possible.
How Much Does a Yacht Broker Cost?
For the most part, brokers typically take a commission off the top once the vessel has been sold. The industry standard is 10 percent, although for larger yachts, the fee may be negotiable. When the same broker lists the boat and finds a buyer for it, that broker gets the whole commission. But most boats are placed with a If another broker finds a buyer, the commission is split.
I hope this Blog article helped! Give us a call! #847.420.2806
