To Use a Broker or Sell Direct?

[FootballFan]

If I am buying a boat - I will not go to a broker to help me find the "right" boat.

Selling, my preference is using a broker. Especially since I don't live near the boat. Don't see any other way to deal with the inquiries, walk throughs, questions (I know how many questions I ask when buying).

Last time I sold, an individual could not post on yachtworld, brokers only. Individuals could post on boat trader. I know there are ways around this, just pay a broker something to post.

 

[Henry Boyd]

Sir when I bought my boat it was documented boat, no title. I paid the man and he signed the back of the documentation paid as seller. I came home filled out the transfer part on the back and scanned it and attached to a email and sent to Coast Guard.. Filled out a CG credit card form and emailed it also. Thats all there is to it.
The CG did the rest and returned it it my name . Easy as ever.

I don't know when you bought your boat, but in 2019 when we both sold our Sea Ray 280, and bought the Sabre, a form CG-1340 (OMB - 1625-0027), "Department of Homeland Security, US Coast Guard, BILL OF SALE" had to be executed by the seller, notarized, and submitted to the USCG. This was done in lieu of signing and notarizing the back of the documentation certificate. Besides our copy of the Sabre's CG-1340 Bill of Sale from the seller (original was submitted to USCG), we got the original certificate for the boat. This allowed us to use the boat for the six months it took to get the updated certificate.

 

[Henry Boyd]

It also took me about 90 days but the CG was having IT issues with their system. A boat can be both titled and documented I believe. But documenting one is very easy by going it on the Coast Guard website for documentation. The boat I have has never had a title, Sea Ray of Cincinnati sold her new.
It has 2 previous owners before me. If I wanted a title all i would need to do is apply for one in the state I wished to title it.

In 2019 we bought the Sabre in early June and did not get the updated Certificate back until late fall it was dated October 31.

 

[Golfman25]

So I would try without a broker first. There is no harm. But a couple of thoughts:
1) Plan on an "open house" type showing. You'll be there one day, ie; saturday from 12-4, and people can come buy at certain times. That will save you from going to see it with every tire kicker around.

2) Due to possible scammers, Facebook is better than Craigslist for free ads. However, Facebook marketplace sucks. As far as I can see, there is little ability to sort and find exactly what you want. So buyers end up browsing thru 100s of boats and may miss yours. On the plus side, you can evaluate each persons facebook page to determine if they are legit. Boattrader is probably worth a few bucks.

3) As for your survey issues, the guy I bot from years ago put a dollar amount in that he wouldn't fix below that amount. I think it was $1000 or something. This freed him from all the minor stuff on a 20+ year old boat.

 

[RBB]

I don't know when you bought your boat, but in 2019 when we both sold our Sea Ray 280, and bought the Sabre, a form CG-1340 (OMB - 1625-0027), "Department of Homeland Security, US Coast Guard, BILL OF SALE" had to be executed by the seller, notarized, and submitted to the USCG. This was done in lieu of signing and notarizing the back of the documentation certificate. Besides our copy of the Sabre's CG-1340 Bill of Sale from the seller (original was submitted to USCG), we got the original certificate for the boat. This allowed us to use the boat for the six months it took to get the updated certificate.

Bought mine in sept of 2019, easy peasy sir, not sure why u had a hard time.

 

[bahamabreisus]

FYI, I am a broker and am willing to assist with any questions you might have. I am also 1000 plus miles away from you, so I am not trying to get a listing. Again, FYI, only 2 gas powered 420s were sold from 01/20, so I think you will find a good broker will have you listed all over the world. I know 10% sounds high, #1 having a middleman to negotiate for you will typically net you more $, broker has no emotional involvement. #2 Multiple showings to tire kickers on a Saturday get old fast for you. #3 A "good" broker, interview and get references, will handle escrow deposits, banking issues for buyer and seller. #4 Proper transfer of ownership. Again, just wanted to offer assistance.

 

[copb8tx]

So I would try without a broker first. There is no harm. But a couple of thoughts:
1) Plan on an "open house" type showing. You'll be there one day, ie; saturday from 12-4, and people can come buy at certain times. That will save you from going to see it with every tire kicker around.

2) Due to possible scammers, Facebook is better than Craigslist for free ads. However, Facebook marketplace sucks. As far as I can see, there is little ability to sort and find exactly what you want. So buyers end up browsing thru 100s of boats and may miss yours. On the plus side, you can evaluate each persons facebook page to determine if they are legit. Boattrader is probably worth a few bucks.

3) As for your survey issues, the guy I bot from years ago put a dollar amount in that he wouldn't fix below that amount. I think it was $1000 or something. This freed him from all the minor stuff on a 20+ year old boat.

Great suggestions. I like both the open-house concept and the 'Less than X' concept on repairs. I remember selling my last house and the buys agent wanted us to replace the working dishwasher because one of the try fingers was missing. Uhhhhh......no!

 

[copb8tx]

FYI, I am a broker and am willing to assist with any questions you might have. I am also 1000 plus miles away from you, so I am not trying to get a listing. Again, FYI, only 2 gas powered 420s were sold from 01/20, so I think you will find a good broker will have you listed all over the world. I know 10% sounds high, #1 having a middleman to negotiate for you will typically net you more $, broker has no emotional involvement. #2 Multiple showings to tire kickers on a Saturday get old fast for you. #3 A "good" broker, interview and get references, will handle escrow deposits, banking issues for buyer and seller. #4 Proper transfer of ownership. Again, just wanted to offer assistance.

Your insight is very much appreciated. All good arguments.

Question, does the number of sold gas powered 420s include only those listed through a broker network? I ask because I know of two private sales of gas 420s sold on our lake.

From my experience it seems like lakes like our Texoma Lake, Lake of the Ozarks, Lake Lanier, etc. usually have strong markets for gas boats because of the lack of distances traveled and the simplicity and economy of maintaining gas motors. For coastal regions I know they're not popular. If my boat was a diesel I'd be posting a thread about how to move it to Florida.

 

[bahamabreisus]

Your insight is very much appreciated. All good arguments.

Question, does the number of sold gas powered 420s include only those listed through a broker network? I ask because I know of two private sales of gas 420s sold on our lake.

From my experience it seems like lakes like our Texoma Lake, Lake of the Ozarks, Lake Lanier, etc. usually have strong markets for gas boats because of the lack of distances traveled and the simplicity and economy of maintaining gas motors. For coastal regions I know they're not popular. If my boat was a diesel I'd be posting a thread about how to move it to Florida.

These are boats that were listed. Soldboats.com is a broker only site. So it would not take into account private sales. Is that why you are selling, moving to Florida? We are thinking the same. We will probably go back to a 370 or 400. Yes your boat will be better off as a lake boat.

 

[copb8tx]

Yes, we bought a condo in Port Richey, about 25 miles north of Clearwater. We have a roundabout but see us wanting to stretch our legs and travel down the coast more. Want something more nimble and faster that can be used regularly as a day boat to run to the islands and occasionally port skip all the way down to Ft Myers, and maybe even the Keys. Accommodations are secondary but must be available for the infrequent overnights.

Boats being considered today are Formula 330ss, 350ss, 350cbr, 370ss. 2017+ Sea Ray 320 DA but ask me again tomorrow and you'll get a different answer.

 

[bahamabreisus]

Yes, we bought a condo in Port Richey, about 25 miles north of Clearwater. We have a roundabout but see us wanting to stretch our legs and travel down the coast more. Want something more nimble and faster that can be used regularly as a day boat to run to the islands and occasionally port skip all the way down to Ft Myers, and maybe even the Keys. Accommodations are secondary but must be available for the infrequent overnights.

Boats being considered today are Formula 330ss, 350ss, 350cbr, 370ss. 2017+ Sea Ray 320 DA but ask me again tomorrow and you'll get a different answer.

We have been looking that area and Cape Coral. Even thinking Vero Beach area. I understand the not knowing what boat you want. We have our Sea Ray and a smaller center console for just running around. They don't make the perfect boat.

 

[Golfman25]

Great suggestions. I like both the open-house concept and the 'Less than X' concept on repairs. I remember selling my last house and the buys agent wanted us to replace the working dishwasher because one of the try fingers was missing. Uhhhhh......no!

One thing I would do as well, is take her out and get video/pictures of the gages on plane at cruise and WOT. Last thing any buyer or seller wants is a surprise. There is value in knowing it will likely "pass" the survey/sea trial.

 

[copb8tx]

One thing I would do as well, is take her out and get video/pictures of the gages on plane at cruise and WOT. Last thing any buyer or seller wants is a surprise. There is value in knowing it will likely "pass" the survey/sea trial.

Great suggestion. Thanks

 

[Henry Boyd]

Bought mine in sept of 2019, easy peasy sir, not sure why u had a hard time.

Not really a hard time. Other than getting the Bill of Sale Notarized, it was more of an inconvenience. But then we were buying a boat from the Dealer's inventory, so the paperwork had to be done correctly from an accounting and contract perspective.

 

[Golfman25]

Great suggestion. Thanks

You're welcome. Too many stories of sea trials gone bad -- couldn't meet the numbers. Waste of time for everyone and money for the buyer. If I was a broker, I'd want confirmation that the boat can be sold.

 

[Carpediem44DB]

We sold ours sans broker. We saved $30,000 and the buyer's loan broker handled all the paperwork as well as the title issues. The closing costs were $550 to handle all CG documentation and title research. The buyer set up the survey and I set up the haul out. It was so simple I wondered why anyone would bother with a broker. Now in my case a buyer came looking because of a fellow CSR member advised that we were considering a move so I did not have to advertise. I actually ended up running an ad on Boat Trader just to make sure I would not get a better offer and really only got a bunch of tire kickers to weed through. I specifically put in my ad that broker coop was welcomed but no solicitations for listing though. I got no Brokers calling to list.
I would soft market it to the local Sea Ray club maybe.
I respect those that want a professional to handle every thing and stay at arms length from new owner. I ended up having news friends that happen to own a boat that once was mine
I'm buying our next boat Sans broker as well and it is proving to be just as easy.
Cheers

 

[SeaNile]

I've never used a broker to sell and bought a few both private and through a broker. I prefer dealing with the buyer/seller directly. As for selling, no one knows my boat better than I do and I always meet the interested party at the boat and can answer any question they may have immediately.

For buying a boat, I'm impatient and don't enjoy asking the broker questions for them to turn around and ask the owner the question then have to get back to me. Often the turn around for a simple question/answer can be several days. I don't like that!

 

[Spark600]

I just sold my boat in November on Facebook market place in two hours, Cost me nothing.

 

[copb8tx]

I just sold my boat in November on Facebook market place in two hours, Cost me nothing.

facebook market place hasn't really been on my radar but it doesn't hurt to give it a try. I don't know if it's just me and my 61 year old head (even though I'm in the technology business) but it has always felt unintuitive and featureless to me.

 

[Stee6043]

facebook market place hasn't really been on my radar but it doesn't hurt to give it a try. I don't know if it's just me and my 61 year old head (even though I'm in the technology business) but it has always felt unintuitive and featureless to me.

One nice feature on Craigslist is that you can post in cities not your own. Advertising a gas powered 420 in the Chicago, Milwaukee, Grand Rapids and Detroit craigslist sites would make sense for lake boaters. Get a quote for shipping, include that in your ad, reduce the tire kickers...