One of the most important things to consider once you decide to sell your luxury motor yacht is should you hire a broker, or try to “go it alone?” There are many aspects of owning a motoryacht that could make for fun “Do-it-yourself” projects for you and your family, but selling her is not one of them!
Why Not Use Your Captain as Your Broker?
Many people turn to their captains to be their broker, and why not? He certainly knows you, and knows your boat. But, that does not make him a great salesperson. After all, your housekeeper probably knows your residence better than anyone, yet, when it comes time to sell your home, you wouldn’t think of hiring her as your real estate agent, would you? The same holds true of your captain. Your captain may be a seasoned mariner and expert yachtsman, but that does not mean he will know the complex details of negotiating and finalizing the sale of your motor yacht.
While your captain may not be the best person to actually sell your boat, on the other hand, captains can be a valuable resource in helping you find the broker who is. Ask your skipper. It’s likely he knows the good brokers in your area, and like any good captain, the sharks to steer clear of!
Choosing the Right Yacht Broker
The first thing you want to look for in a yacht broker is a professional. You want to deal with an experienced salesperson who does this for a living, and not just some part-time “weekend warrior.” Your broker should be trained in sales, and have the product knowledge specific to your boat, and should work for a company that specializes in your market. Today, one of the most important skill-sets for a yacht broker to have, is a thorough understanding of marketing, and particularly, the importance of leveraging the internet to present your yacht in the best light possible.
Online appeal is the new curb appeal. The days of anyone cruising classified ads for a used boat are long gone. But, taking into consideration the amount of boats on the market and how people shop online, it’s not about simply throwing your boat “out there.” Professionally presented and listed boats, with high-end photos and videos, will not only attract more buyers, it will let them know you are selling a high-end and well cared for boat. A yacht that is poorly presented online will be thought to be in poor condition, and the ad likely ignored.
THE RIGHT BROKER KNOWS THE POWER OF VIDEO
If your broker or his or her company doesn’t understand this, then he or she is the wrong broker for you. Any salesperson worth their salt can tell a potential buyer how wonderful your boat is, and why it’s what they are looking for. But, today, a buyer wants to see that for themselves first, before he or she ever comes close to contacting your rep. That is why your best foot forward must be made online, and you want a broker that knows the ins and outs of online marketing. Potential buyers will spend hours researching boats online long before they ever speak with your sales representative. By the time they are ready to speak to the salesperson, they’ve either already made a decision, or have a strong opinion, which should have been formed by your boat’s presence online.
NEXT WEEK: We’ll take a closer look at the role of your Broker throughout the sales process.
It’s not always easy to stay on top of what’s new in motor yachts. If you would like to benefit from our expertise in these areas, or if you have any questions or comments about this blog post, do not hesitate to contact our Sales Specialists, or call us at (855) 318-6328.