If you were to sell your boat...

[Stinkpot]

How would you do it? Broker, by owner, where would you list it, with who, etc...?

Thanks,
Stinkpot

 

[Raider Ronnie]

By owner.
10% in my pocket is better than giving it to someone else.
Some boats will sell themselves.
Case in point.
My friend had a 1984 Privateer 24 Renegade.
He put up a few internet adds on his own, had his phone ringing off the hook and people banging down his door for an old beat up boat.

 

[El Mar]

How would you do it? Broker, by owner, where would you list it, with who, etc...?

Thanks,
Stinkpot

Just sell your boat to me and take my Parker in on trade.

Done.

 

[GoodChance]

On your own. Broker will take 10% and do VERY little to actively sell your boat. They will not have the information that potential buyers are seeking and will be referring these buyers to you anyway.

Price the boat correctly, be willing to answer a bunch of dumb questions, take lots of photos of the boat, advertise widely (and locally) and you will sell the boat.

 

[Alison Tuna]

Privateer is a desirable boat tho...... it will sell itself....i sold 3 and currently have my fourth...

Goodchance....you should change your signiture to "The Idiot who SOLD that burnt up 35 Duffy... ha ha ha ha...

 

[BillD]

How would you do it? Broker, by owner, where would you list it, with who, etc...?

Thanks,
Stinkpot

When I sell the Blackfin (next year) I'll sell it on my own.

I listed my 28 Bertram with a broker. I did all the "showings", in the end sold it myself to a guy in Delaware. I wrestled with the broker on his "cut".

I paid him maybe 5%.

In the end if you have a desirable boat/engine package in good shape and you want to "$move it$", it will sell.

 

[CEShawn]

I really think it all depends... My last four boats have been broker, private, broker and lastly private.

Both of the boats that were sold through a broker also had private listings as well. There is something where some people like the security of it. Both of those times they people saw our ads and everything. I guess some people get some security out of it.

Selling mine, I'd never do it through a broker because I hope to never be in a position to have to sell it.

 

[BillD]

Just sell your boat to me and take my Parker in on trade.

Done.

El,

You've had your Parker on the market for a LONG time.
No takers??, Nothing ??
Curious,

Bill D

 

[El Mar]

A lot of tirekickers but no real leads.

I only have it listed here and classicparker.com

I may need to get a little more serious about selling her.

 

[neyachts]

To Broke or Not To Broke(er)

Greetings All, As a boat broker of 15 years or so, with over 50 years on the water as a retired naval officer and 100T skipper, I can both identify and commiserate with each of your comments. Here are a few thoughts...

Prior to engaging the services of a boat broker, interview the individual. Ask if she or he has had experience with and actually sold boats identical to yours. Ask some leading questions regarding systems, electronics, engine, performance and desirability (of the boating public), for boats similar to yours. If the broker responds with accurate knowledge and experience, and you like their tone, take the conversation to the next level. If not, 'thanks for your time'.

The next level should be a discussion of sales tactics, specific sites, and other methods of exposing the boat to the marketplace. If you're satisfied that your boat will be professionally marketed, your next conversation is regarding the selling fee. Just as in the real estate community, boat brokers rely upon networking. When I first entered the industry, the 'norm' was a commission of 10% of the selling price. That's sill the 'norm' today. If, as the 'selling broker', bringing the buyer to the seller and closing the deal, I would expect 70% of the 10% commission, with 30% accruing to the 'listing' broker. That's no longer the case, today. Nearly all brokerage commissions are split 50%-50%, in recognition of the work each broker puts into the process for their seller and buyer. Having said that, brokerage commissions are negotiable.

If brokers, and their fellow real-estate agents were to compile a time card spent in the process of preparing, marketing and selling a single listing, the economic shock may be too much for the 'ticker'. In many, many cases, that individual has been working for way less than $1.00/hour (...now I know why we need ObamaCare!)

OK, you need to know what $$$ your boat should be marketed at. Your broker should have access to 'sold boats' on YachtWorld, YachtCouncil, or the 'spot-on' value prices in Ed McKnew's "Powerboat Guide". Values reflected in NADA, ABOS and BUC, always seem to fall short of or exceed reality. In my experience, the YachtWorld 'sold boat' database is the best reference in the industry. A combination of several sources, combined with an evaluation of current similar boats on the market, will allow you to arrive at a fairly accurate market value.

All boats deserve to be professionally marketed if you decide to employ the services of a broker, and the broker accepts the listing. Having said that, I've politely (I hope) suggested to buyers in the past that they advertise and sell the boat on their own. That holds true if the boat is an older, less desirable style in today's market, or if it's maintenance has been lacking along the way. If I'm being asked to market a boat that I believe will sell in this economy, and understanding that the seller wants it 'gone yesterday', I'll suggest that both of us put on a 'full court press', with the seller and the broker simultaneously seeking a buyer. Depending upon the boat of course (type, price, condition, age, power, etc.), I may offer to fully advertise it in all my sales outlets, and if I bring a buyer, I'll expect to receive 10% of the selling price. However, if the owner attracts a buyer and sells it himself (herself), I'll be glad to assist with all the paperwork for a fixed fee ($500-$700). For that, I'll prepare the Yacht Purchase and Sale Agreement, receive and hold escrow funds at our bank, oversee the transfer of funds at closing, and prepare the notarized USCG Bill of Sale and closing statements for both parties. I offer that service just as an option for the seller, who will be under no obligation to pay a brokerage fee. That way, the boat receives maximum exposure that will culminate in a quicker sale. As an independent broker, owning my company, I have the flexibility to offer that service. Many brokers do not possess that option.

I believe that there are some boats that are best represented by a professional broker, for a variety of reasons, but that's a whole other subject for another day.

So, to wrap up, I'm just here to assist any of my boating brothers and sisters on the Forum. I love DownEast boats, and just purchased a Jason 35 a couple of weeks ago. Many of you know I assist Steve Law selling his excellent 25', 28' and 32' SeaWorthys, which are exceptional boats, built by an exceptional, knowledgeable, and trustworthy builder. I also deal with large sportfishermen and motoryachts, having sold Cabos, Flemings, Vikings, Hatteras, Bayliner Pilothouse Motoryachts, Symbol, Marlows, Grand Banks, and a ton of Boston Whalers.

I'm always available just for a chat. Happy Boating! Larry Bussey, Northeast Yachts, Portsmouth, NH. 603 433-3222 [email protected].

 

[CEShawn]

I will tell you what, there are some sleezy brokers around too... I couldn't believe the day that I am down my boat, a guy comes to look at it. Come to find out a broker in the area, told the guy to take a look at my boat, because its for sale and like the one in Maine but close to his house...

Never was a broker selling my boat or anything, nor did he call me. BUT WAS SENDING PEOPLE TO LOOK AT MY BOAT TO GET THE IDEA OF WHAT IT LOOKED LIKE... MF

sidenote, not all brokers are sleeze bags, but that PISSED ME OFF...

 

[El Mar]

Yeah, Who was it a few weeks ago who tried to look at Capt Larry's boat and the broker wouldn't give him the time of day.

 

[mcangelo41]

That was ME......Brokers have their place but if you can use a comp....you basically have all the channels on your own with a few exceptions. POP yachts is pretty cool....They let you use your channels and go your own route. In the mean time they come down take 100 pics and put the boat up on their international sites plus YW,Boattrader, etc....You tell them your bottom line and they figure out what to price boat at on their own. Last boat was my chawk which I ended up selling on my own and they just took down the listing and I owed them nothing in the end....They have an awesome interface with a weekly traffic report for your boat.

On the other hand if you work serious hours and just dont have the time to show the boat and can take the 10% hit then use a local broker I guess....

 

[mainely boats]

When I sell the Blackfin (next year) I'll sell it on my own.

I listed my 28 Bertram with a broker. I did all the "showings", in the end sold it myself to a guy in Delaware. I wrestled with the broker on his "cut".

I paid him maybe 5%.

In the end if you have a desirable boat/engine package in good shape and you want to "$move it$", it will sell.

I tried to broker for a couple of years, we had an 'OPEN' contract we'd offer or customers if the owner didn't want to sign an 'EXCLUSIVE' contract with us. It allows you or other brokers to sell the boat on your own with no obligations.

 

[n4061]

Having owned and sold more boats than I count over 30 years I will respond with the following: it depends.

If the boat is on the lower end of the cost spectrum and complexity then you may want to try selling it on your own. If you have the time to take people on sea trials and go through the process it worth the time. We used this approach on over a dozen boats and it worked fine.

If the boat is on the higher end of the cost and complexity spectrum and you are tight on time then it is worth paying the brokers fee of 10%. The trick is to use the builder to sell her, they will more than likely get the most exposure and can talk you boat better than anyone else. We did this with tow newer Norhavn trawlers and found the time to sell and price was worth the 10%. Hope this helps.

 

[Hooper]

Greetings All, As a boat broker of 15 years or so, with over 50 years on the water as a retired naval officer and 100T skipper, I can both identify and commiserate with each of your comments. Here are a few thoughts...

Prior to engaging the services of a boat broker, interview the individual. Ask if she or he has had experience with and actually sold boats identical to yours. Ask some leading questions regarding systems, electronics, engine, performance and desirability (of the boating public), for boats similar to yours. If the broker responds with accurate knowledge and experience, and you like their tone, take the conversation to the next level. If not, 'thanks for your time'.

The next level should be a discussion of sales tactics, specific sites, and other methods of exposing the boat to the marketplace. If you're satisfied that your boat will be professionally marketed, your next conversation is regarding the selling fee. Just as in the real estate community, boat brokers rely upon networking. When I first entered the industry, the 'norm' was a commission of 10% of the selling price. That's sill the 'norm' today. If, as the 'selling broker', bringing the buyer to the seller and closing the deal, I would expect 70% of the 10% commission, with 30% accruing to the 'listing' broker. That's no longer the case, today. Nearly all brokerage commissions are split 50%-50%, in recognition of the work each broker puts into the process for their seller and buyer. Having said that, brokerage commissions are negotiable.

If brokers, and their fellow real-estate agents were to compile a time card spent in the process of preparing, marketing and selling a single listing, the economic shock may be too much for the 'ticker'. In many, many cases, that individual has been working for way less than $1.00/hour (...now I know why we need ObamaCare!)

OK, you need to know what $$$ your boat should be marketed at. Your broker should have access to 'sold boats' on YachtWorld, YachtCouncil, or the 'spot-on' value prices in Ed McKnew's "Powerboat Guide". Values reflected in NADA, ABOS and BUC, always seem to fall short of or exceed reality. In my experience, the YachtWorld 'sold boat' database is the best reference in the industry. A combination of several sources, combined with an evaluation of current similar boats on the market, will allow you to arrive at a fairly accurate market value.

All boats deserve to be professionally marketed if you decide to employ the services of a broker, and the broker accepts the listing. Having said that, I've politely (I hope) suggested to buyers in the past that they advertise and sell the boat on their own. That holds true if the boat is an older, less desirable style in today's market, or if it's maintenance has been lacking along the way. If I'm being asked to market a boat that I believe will sell in this economy, and understanding that the seller wants it 'gone yesterday', I'll suggest that both of us put on a 'full court press', with the seller and the broker simultaneously seeking a buyer. Depending upon the boat of course (type, price, condition, age, power, etc.), I may offer to fully advertise it in all my sales outlets, and if I bring a buyer, I'll expect to receive 10% of the selling price. However, if the owner attracts a buyer and sells it himself (herself), I'll be glad to assist with all the paperwork for a fixed fee ($500-$700). For that, I'll prepare the Yacht Purchase and Sale Agreement, receive and hold escrow funds at our bank, oversee the transfer of funds at closing, and prepare the notarized USCG Bill of Sale and closing statements for both parties. I offer that service just as an option for the seller, who will be under no obligation to pay a brokerage fee. That way, the boat receives maximum exposure that will culminate in a quicker sale. As an independent broker, owning my company, I have the flexibility to offer that service. Many brokers do not possess that option.

I believe that there are some boats that are best represented by a professional broker, for a variety of reasons, but that's a whole other subject for another day.

So, to wrap up, I'm just here to assist any of my boating brothers and sisters on the Forum. I love DownEast boats, and just purchased a Jason 35 a couple of weeks ago. Many of you know I assist Steve Law selling his excellent 25', 28' and 32' SeaWorthys, which are exceptional boats, built by an exceptional, knowledgeable, and trustworthy builder. I also deal with large sportfishermen and motoryachts, having sold Cabos, Flemings, Vikings, Hatteras, Bayliner Pilothouse Motoryachts, Symbol, Marlows, Grand Banks, and a ton of Boston Whalers.

I'm always available just for a chat. Happy Boating! Larry Bussey, Northeast Yachts, Portsmouth, NH. 603 433-3222 [email protected]

I have worked with Larry and found him to be an excellent broker to work with. Cheers Larry!

 

[neyachts]

Thanks Ronnie, Your 28' SeaWorthy is awesome! I can tell you that Roland really misses it! Cheers, --Larry

 

[tunamojo]

Honestly Brokers are parasites, Im not allowed to name names because the scumbag broker that did nothing for me to sell my boat sued me for part of the commission and made me sign a non disclose.
This fat lazy prick sent over the sales forms they were all botched, when I called him on it he said "just scribble out whats wrong and write in what ever needs to be on it."
I retyped and corrected everything, the new owner came to sea trail the boat, sign the papers and meet the broker, he (the broker) pulls a no show on that day!!!
Turns out he was driving a diaper truck or something cuz his buisness was going down the tubes ? " WONDER WHY "
So me and the buyer move a head with the sale, broker never calls, then as Im about to close I get a note that says I better not sell it because he has a signed agreement with me.
READ THE SMALL PRINT ALL WAYS, IT GOT ME BAD !!!!
basically the parasite contracts states if we (the broker) do something wrong its the sellers fault ! I wound up having to pay a pretty penny to make this douche bag go crawl back under his rock.......

OK i feel better now....

 

[captainlarry84]

Brokers

Brokers get 10% as a rule. Make sure your broker uses Yacht world’s website, very key. Brokers do take the headaches out of things. You do not waste time and get sucked into boat rides & such. A good broker shows the boat & before any boat rides get done a price is agreed upon and the buyer puts down 10%. That chases away the tire kickers. Next if all goes good the broker arraigns for the survey, & sea test which should be done by the broker’s licensed captain & not the owner. Lastly at closing the broker holds all checks until all clears before the boat leaves. Plus the broker does the re-reg & handles state taxing without any headaches. On a $20000 deal they get $2000 & they earn it and you get the lions share.
It is also good to pick a broker that has his own marina or space where you can leave your boat there. Private sales without knowing the person can be penny wise pound foolish.

 

[greg]

If you want more exposure, as well as yachtworld, boat trader, etc, and maybe someone to take calls for you, try angersedgemarine.com. He has a forum over on thehulltruth.

Basically, he charges a one time fee (think it's $79) and he will put up pics and a description (you provide) on multiple industry websites. It looks like a broker is involved, but he just passes the info along to you. No commission.

I tried to sell my old parker by owner, but I finally broke down after I had my new boat and used a broker to speed things up. I really didn't want to spend the summer split between two marinas and two boats.

He ended up selling to a guy in california who drove a trailer cross country to pick up the boat. It was a complicated sale, and he handled all the dirty work.