The Truth About Using a Yacht Broker to Buy a Yacht

Having grown up with my dad as a yacht broker and then joining the family brokerage business myself, I’ve both seen and heard about how the yacht brokerage industry operated before the Internet revolution.  Yacht brokers were the exclusive custodians of yacht sales information; it was impossible to know anything about a yacht on the market without speaking to a broker.

Today you can search MLS sites, watch YouTube videos, read about boat manufacturers, and read boating forums for endless hours on the Internet.  With this knowledge, many consumers feel that there is no need for a buyer’s yacht broker anymore and that they should just find a yacht themselves.

Below you will find reasons why using a buyer’s yacht broker will save you time, money, and make yacht buying process smooth and more enjoyable.

Market Knowledge

While you can become pretty knowledgeable on market and vessels you’re interested in, a yacht broker lives and breathes it every day. Choosing a yacht broker to help in the boat buying process will make you understand market better than previously thought.

Your yacht broker will guide you to the vessels that are reasonably priced and provide you with comparative examples to help you make the right choice. Talk to your broker and make sure he or she understands the features that mean the most to you.

Recent Sales Data

Once you narrow in on short list of boats interested in buying.  Your yacht broker can provide with accurate, recent sales data on particular yacht interested in. This data is not available to general public and surely helps in coming up with values on yacht. What a vessel is worth is not what it’s listed at but what it sells for.

Insider Info

Going beyond finding out what recent sales have been on particular vessel interested in. Insider info is a very valuable tool in the boat buying process that only a yacht broker can provide.  There is a bond among fellow brokers. Kind of like a baseball team. When one batter strikes out looking, he will tell his fellow team mates what pitch to look out for.

The same applies for yacht brokers. We are all on the same team, we want to sell yachts and get deals done. When inquiring on a particular yacht interested in, a yacht broker will be able to talk with listing broker and get insider info that an individual won’t be able to obtain. Such as recent offers, overall condition, boat history, what needs to be addressed, motivation level, etc… 

Negotiations

Once you have found the yacht you want to purchase. Having a buyers yacht broker help you make offer & negotiate deal is best choice. There are three main reasons to use buyer’s broker in negotiations:

1. The listing broker is in essence working for the seller and is better to have a broker on your side trying to negotiate you best deal possible.
2. While, most yacht buyers are very successful business men and women. Yacht brokers are experts in negotiating on vessels and strategies to get a deal done.
3. It is always best to have buffer from seller when negotiating a deal

Sea Trial & Surveys

Anytime you purchase a vessel, a proper sea trial & survey must be conducted to assess any repairs or changes that must be made. While surveyors work for buyer, a broker can recommend the better surveyors in the industry.

If this is not your first rodeo, then you understand the survey process, but for the first time yacht buyers the process can be overwhelming and broker can help you understand process.

Surveyor’s job is to find out deficiencies on vessel and they are very detailed and will come up with a long list of deficiencies even if the boat is brand new.

At the end of the survey and sea trial you will get a very long and detailed report. A yacht broker can help you digest report, get quotes to fix deficiencies, and come up with a strategy on addressing decencies with seller.

Paperwork

Like any business or transaction there is certain paperwork that needs to be done. Yacht brokers know the process inside and out & will make you feel comfortable throughout the whole process. Your yacht broker can put you in contact with best insurance agents, financing, and closing documentation companies to use.

Post Sales Care

Yacht brokers understand the demands and needs of their select clientele. This is a relationship business and brokers will always offer post-sales services. Whether you need references to a reputable repair facility for maintenance, finding a captain, fishing buddy, drinking buddy, or anything you need.  Their experience can help you get anything accomplished to vessel and make you enjoy your time onboard more with their expertise.

The process of buying a yacht can be more than a rewarding marine purchase, it’s a friendship built on mutual respect and love for yachting.

Get informed and find the dream yacht you’ve always wanted and deserved. Find the right yacht broker in your area that can help you make the yacht buying process enjoyable.