Monday, October 29, 2012

Selling Through A Broker

Brokers maintain files of Gulet listings placed by individuals wishing to sell their Gulet. They also have "boat wanted" files for prospective buyers looking for something different.

Sometimes brokers share listings through a worldwide network. This can extend the seller's exposure beyond the local market. A broker may be contacted directly by a buyer looking for a specific boat or from another broker who has a customer waiting.

Yacht brokers are often overlooked by customers who think their needs are too small and brokers only deal with mega yachts. Actually, Gulets less than 50 feet can be quite expensive and are worth considering the use of a broker's services. The average size Gulet handled by brokers is 80 feet, with a range from 40 feet to two hundred feet in length. The smallest Gulet is 8 meters and the biggest Gulet is 55 Meters in Turkey.

Why work with a broker

The two happiest days in the life of a boater are the day he buys a boat and the day he sells a boat.
For some people the buying and selling may be fun, but for others it is frustrating. Those who find it frustrating might want to consider the services of a yacht broker to handle details of the search, marketing and closing of the transaction. Most yacht brokers are independent businesses but some are affiliated with or employed by new Gulet builders.

Both buyers and sellers can benefit from the services of a yacht broker whose job is to arrange transfer of ownership. For their services, brokers charge a commission.

How do you choose the right broker? 

Most sellers rely heavily on references from fellow boaters, and, with a couple of caveats, this is the best method of selecting a knowledgeable, proactive, honest broker. In Turkey brokers are not required to personally be licensed by any Department of Boating, however they ought to be employed by companies that are members of Chamber of Commerce.

It's also critical that your boat be in close physical proximity to the listing broker. Getting prospective buyers aboard the boat is critical in selling it, and this is greatly expedited when she's conveniently located. So, either sign with a broker close to the marina in which your boat lies, or with a broker that has good contacts internationally.

It's now critically important for the listing broker to have a web page of some sort that will allow buyers to virtually "walk through" the boat. This provides a real advantage over brokers not offering this option. Most buyers of boats are well educated and computer literate, and we're finding that most potential buyers have access to the web at their home or office.

Log on and browse the candidate's sites--are they logically laid out and easy to navigate? Do photos accompany all the listings? Do the photos do justice to the boats? Are the photo captions well written? Finally, send the brokerage an e-mail question--do they get back to you in a timely manner?

Once you've identified candidates, drop in unannounced to their offices. The offices should be professional in appearance, with the brokers themselves friendly and helpful. Appearance isn't everything but put yourself in a potential buyer's shoes and ask yourself what you'd think, given your experience at each office.

Having done the homework above, sign with the broker you're most comfortable with. At the signing, let the broker know your expectations--do you want a call every time they show the boat? Brokers don't provide this level of detail without being requested. What about terms at the brokers show dock if applicable? Most brokers split the cost of carrying your boat at their docks, but make sure both parties are in agreement on the split.


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