What Does a Yacht Broker Really Do?
In the day and age of the internet, people have the ability to sit at home and browse potential boats/yachts they want to buy or get comparisons to the boat they want to sell. So the question arises; Why should I use a boat/yacht broker?
There are many different answers to that question. First and foremost, a boat/yacht broker does more behind the scenes than people think. People have the assumption that a broker will find clients boats, be there to show them the boats, be the contact between the buyer and seller, and reap the rewards. With that assumption, let's discuss what a broker really does for their clients.
As a broker, we come into the picture at the beginning stages of the boat search and hold our clients' hand through the entire process and beyond. There are a multitude of scenarios that arise from buying a vessel. So, you may ask, what else does the broker do other than sell me a boat?
what else does the broker do Besides sell me a boat/Yacht?
Starting from the beginning of the buying process, a broker will do an assessment to determine what the client is searching for both personally and financially. They will research different boat/yacht styles, options, upgrades, standard options, comfortability with running the boat, etc., gathering all the information needed to get a handle on what the client needs. A broker will choose potential vessels to offer the client and go through the list gaining more knowledge of what the client is really thinking he/she may be interested in. This is where the fun begins.
Once a vessel has been chosen, the brokers' job just got harder. People question, how hard is it being a broker? The answer is twofold; a brokers job can be easy. However, a broker that does their job well and has the required time and experience in this position, now has a lot on their plate.. From this point forward, the buying experience is much more labor intensive.
A good broker does more than sell a client a boat. Once the boat is chosen, a broker has to determine a fair market value. There are a multitude of tools available to use to come up with that figure. As the process moves forward, there can be questions that arise; Who do I use for a survey? What insurance do I need? What is my insurance requiring a captain? How do I get my vessel to its home port? How do I know I am picking the right boat for my needs? How do I obtain financing? The list goes on-and-on.
A good broker will assist in all of these questions. We have a host of surveyors that have been vetted by prior transactions, clients and colleagues that we trust and recommend. Anyone can go online and get an insurance quote. However, we have agents that we work hand-in-hand with, day-to -day that know what is required and usually can offer a better quote than what you will find on the web and make sure you have everything you need. Many times, an insurance company will require the use of a training captain or training program once a client reaches a certain size or tonnage of vessel. As brokers we have certified training programs/captains that can assist with learning the vessel, rules of the road, navigation, use of equipment onboard, and a host of other resources in order to satisfy the insurance companies of the buyer's competency. This also ties into, how to move the boat to the port of choice. I, myself, am a licensed USCG captain and have made deliveries with my clients to both familiarize, train and educate them as to how the boat maneuvers, how to use the onboard navigation equipment, and how to safely handle the vessel. This is just another step for me in the buying process.
As you can see, in the end, a broker's job is more than just a monetary transaction. It is a process based on trust, compassion and enthusiasm for the job we do. We ensure our clients have found “the right” boat, received the best price, and can safely and efficiently operate the boat. We also want to make sure that you are happy running this boat for many years to come. So, if anyone ever asks you why you used a broker to buy or sell a boat/yacht, you can tell them, it was more than just a purchase.
If you are interested in buying or selling a boat, please contact one of our boat/yachts sales professionals. We have 30 years of experience and the knowledge to answer all of these questions and more. Contact us today!