how to choose a broker

RonF

RonF

New Member
Oct 4, 2006
410
N. Palm Beach, FL
Boat Info
310 Sundancer 1999
Engines
Mercruiser Mag 350 MPI, V-drives
I have decided to sell my 1999 310 Sundancer. I am what the brokers refer to as a “motivated seller”. I am trying to decide between the following three kinds of brokers:

Marine Max dealer brokerage 25 miles away

Broker A – small size local operation with business contacts in South America

Broker B – medium size local export brokerage with contacts in Europe and Australia

All three brokers say that they list on multiple domestic and foreign web sites. They all say that foreign sales are pretty good these days due to the weak dollar, and that the summer buying season is ramping up in southern countries. They all want 10% commission and 180 days exclusive listing. They all will handle the paperwork and closing. The difference with Marine Max is that, since they are so far away, they will need to have a local cooperating broker do the showing.

Any ideas on the best one to pick or keep shopping?

Thanks
 
Ron,

IMO, it's not easy to say for sure unless you know each party in terms of how the do the business. From my experience with my local MM dealer it's a waste of time. I was left under the impression that they want "everything brought to them on a plate". They don't hussle, if it doesn't come easy they'll just sit and wait. Your local MM could be the total opposite, but unless I know that for a fact or have good reference I wouldn't want to waste 6 months to find otherwise. Chances are that small business owner will make much more efforts to make the deal happen ASAP. So, the main question would be if he'll offer similar market exposure. Most likelly, if you're listed in yachtworld you're exposed enough. But, mutliple listings are obviously prefered.

Good luck,
Alex.
 
I'd take a look at some of each broker's ads on Yachtworld and see how their write ups were. Did they have lots of pics? Lots of information about the boat? List lots of equipment and lots of details about the boat, maintenance, upgrades, etc?

I used Yachtworld to find my current boat. Some ads are spectacular, some are losers. Spectacular ads included 20 or more pics, lots of equipment listed, details on maintenance performed, upgrades, etc.

The loser ads had 1-10 pics, not much information on the boat, upgrades, etc. You get the pic.

Check to see what boats each dealer has brokerage contracts for and see how those boats compare to what you're selling. Do they specialize in trawlers, deep sea fishing boats, etc, or do they have Sundancers and other similar usage baots.

Also ask them how many boats they've actually sold over the past year vs how many they have had contracts on, and find out the average time each sold boat was under contract.

Just a few questions to start the ball rolling.
 
There is a feature on YW that lets you print out actual boats sold from just their company this year. Ask them to see soldboats on your particular model and their sales for the past 6-7 months. You will get a very accurate picture of how they are doing and what boats have been popular sellers for them.

If they can't figure out how to show only their sold boats through Yachtworld, they aren't internet savvy enough to market your boat.
 
Someone in your area is Matt Lavin from Yacht Sales Consultants. Maybe this is one of the guys your considering. He brokers mostly Searays. I purchased a 370 searay from him in Maryland which is where he was located at the time. Now he is in Jupiter I believe. I had a great experience with him. He new the boat and the systems very well which is what you want in a broker. Very knowledgable guy with all searay models. Oddly, When I was in the hunt for my present boat, he was the broker for one of the boats I looked at. I did not purchase the boat but he gave me a great education.
 
I tried to sell my 28 footer through a broker. He seemed to have all the correct records of pass sales. He never sold it because the asking price was too high. In todays market one needs to be the lowest price of any item for sale. Recently I sold my car because I got a new one. I looked at what others were asking and discounted my price by 25%. It sold in a week. You may have twice what the boat is worth invested in it; but it will not sell for that. I have a friend in realestate. He does well because he prices at market value.
Good Luck
 
northern said:
I tried to sell my 28 footer through a broker. He seemed to have all the correct records of pass sales. He never sold it because the asking price was too high. In todays market one needs to be the lowest price of any item for sale. Recently I sold my car because I got a new one. I looked at what others were asking and discounted my price by 25%. It sold in a week. You may have twice what the boat is worth invested in it; but it will not sell for that. I have a friend in realestate. He does well because he prices at market value.
Good Luck
Click to expand...

This is the best advise you'll get from anywhere. The condition of your boat just means yours will be the first one sold, IF THE PRICE IS RIGHT!
Don't say, "I don't need to sell....", "I just am wondering if it will sell......" "Low ballers need not waste my time...", "Serious offers only will be considered...". These statements only serve to push a buyer away. A broker doesn't want to waste their time on your boat when they know it is priced to high. If you price it where they think they can sell it, they will try. What they will not do is turn you away, even if they know you are asking to much. Hey maybe some big fish will come along and buy. What does a broker have to lose if your boat doesn't sell? Nothing.
 
northern said:
I tried to sell my 28 footer through a broker. He seemed to have all the correct records of pass sales. He never sold it because the asking price was too high. In todays market one needs to be the lowest price of any item for sale. Recently I sold my car because I got a new one. I looked at what others were asking and discounted my price by 25%. It sold in a week. You may have twice what the boat is worth invested in it; but it will not sell for that. I have a friend in realestate. He does well because he prices at market value.
Good Luck
Click to expand...

What a novel approach, "price at market value". The folks who do are usually much happier in the long run because the skip months of agonizing over money they never had that they "lost".
 
Why not list it yourself? Then you can sell it for 10% less... Price sells, you who knows your boat better than you?
 
If MM wont travel 30 miles to show a boat, you definatley need to look elsewhere. On the other hand MM will sometimes take trades on your boat, which can be a large help. I am also a broker, I travel up to a 100 miles or more, what ever it takes. Good luck with your sale.
 
Sorry, for 2nd reply, have you looked at Executive Yachts in Stuart, they are big Sea Ray guys.
 
I recently sold my boat and now I'm on the other side as a buyer. I really feel bad for people that are trying to sell because of the extreme lack of professionalism and basic sales skills that I've seen trying to find my next boat. I'm a serious buyer with a deposit and financing ready to go and the number of unanswered e mails and unreturned phone calls I've experienced while trying to inquire about the boats I'm interested in is unbelievable. You would be better off selling a 100 k boat by hanging a flyer up at the local supermarket. Good luck, Mark
 
bahamabreisus said:
If MM wont travel 30 miles to show a boat, you definatley need to look elsewhere. On the other hand MM will sometimes take trades on your boat, which can be a large help. I am also a broker, I travel up to a 100 miles or more, what ever it takes. Good luck with your sale.
Click to expand...

Concerned about their distance.
 
I had a good experience with my broker. He called me after one week letting me know we had an offer and guided me through the process. Easiest 10% he probably ever made. I priced the 320DA fairly, had it in tip top shape keeping it very clean and sold to the first person that looked at it. Not all brokers are that good but it is easy to check them out.
 
Gofirstclass said:
I'd take a look at some of each broker's ads on Yachtworld and see how their write ups were. Did they have lots of pics? Lots of information about the boat? List lots of equipment and lots of details about the boat, maintenance, upgrades, etc?

I used Yachtworld to find my current boat. Some ads are spectacular, some are losers. Spectacular ads included 20 or more pics, lots of equipment listed, details on maintenance performed, upgrades, etc.

The loser ads had 1-10 pics, not much information on the boat, upgrades, etc. You get the pic.

Check to see what boats each dealer has brokerage contracts for and see how those boats compare to what you're selling. Do they specialize in trawlers, deep sea fishing boats, etc, or do they have Sundancers and other similar usage baots.

Also ask them how many boats they've actually sold over the past year vs how many they have had contracts on, and find out the average time each sold boat was under contract.

Just a few questions to start the ball rolling.
Click to expand...

Today I went to the HMY Yacht Sales web site and was impressed with the layout and completeness of the listings. So I stopped by, and was introduced to their Sea Ray specialist. I showed him 20 pictures that I had taken. He liked most of them, and suggested some more that we could take together. We talked about realistic pricing. I looked at his listings and some recent sales. Seems like the best so far.

THANKS, EVERYONE, FOR YOUR ADVICE.
 
Last edited:
RonF said:
It's not the money. I just don't want to do it myself.
Click to expand...

Yea right....it's always about the money. I want you to remember that statement when you and some low baller are fussing at each other. If it wasn't about the money you'd sell short, take the loss and move on. Not about the money, I hate to hear that statement. I predict you'll fight with every offer that comes in.
 
HUMPH said:
I had a good experience with my broker. He called me after one week letting me know we had an offer and guided me through the process. Easiest 10% he probably ever made. I priced the 320DA fairly, had it in tip top shape keeping it very clean and sold to the first person that looked at it. Not all brokers are that good but it is easy to check them out.
Click to expand...

You had a good experience because you did the right things to sell.

Took care of your boat and priced it right. This is always the outcome when you do it right. To me this says alot about you as a person. You get it. Most don't.
 
islandhopper00 said:
Yea right....it's always about the money. I want you to remember that statement when you and some low baller are fussing at each other. If it wasn't about the money you'd sell short, take the loss and move on. Not about the money, I hate to hear that statement. I predict you'll fight with every offer that comes in.
Click to expand...

If, by sell short, you mean sell for less than I owe, then that's exactly what I expect to do. Because, I want to move on.
 
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