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A yacht broker is your expert guide throughout the entire selling process. They will help you price your yacht competitively, utilizing industry resources and sold boat data.
They will prepare a comprehensive specification and superior photography (including video). A well-prepared listing will make the buyer more comfortable with your yacht, ultimately leading to a faster sale.
Preparing Your Boat For Sale
It’s important to remember that a yacht is a big investment, and you will likely get more money back from your sale if the boat is in good condition when you sell. This is where the preparation process comes in. A yacht broker will advise you on what to do to your yacht to make it look and feel its best for a potential buyer.
For example, your broker may suggest removing personal items from the boat and emptying closets and stowage areas to make them appear more spacious. They will also help you access your service records to show potential buyers how well your yacht has been maintained.
The broker will also prepare a Comparative Marketing Analysis based on sales of similar boats in your area. This information will help you set a competitive price. Once your yacht is listed, the broker will respond to inquiries and arrange for showings with potential buyers. They will be present during these showings to answer questions and negotiate the best possible terms on your behalf.
Marketing Your Boat
When selling a yacht, it’s important to market it in a way that entices buyers and helps facilitate the sale quickly. Yacht brokerage New York can help you achieve this by using their industry knowledge and resources to market your boat to a targeted audience.
Professional yacht brokers are typically members of professional organizations that provide a code of ethics and support system for their membership. Ask your yacht broker if they are a member of these organizations to confirm that they have access to industry-leading tools and can offer you a level of service and expertise not available to the general public.
Brokers can also use their network of contacts to connect you with potential buyers and help you sell your boat for a better price. They can also compare your boat against comparable boats currently listed on the market to determine a fair listing price.
Negotiating The Sale
Like buying and selling a home, yachts require significant time and money. A reputable broker will guide you through the process with their experience in negotiations, contracts, sea trials and surveys.
A seasoned boat broker will provide valuable insight into market conditions and current buyer behavior to help you determine an appropriate asking price. They will also use their experience negotiating highly complex multi-million dollar deals to push for maximum value.
They can recommend additional perks that may not increase the price of the vessel but will add overall value. For example, they can suggest ways to bundle elements of the boat that add considerable value, such as navigation equipment, water sports accessories, and complimentary maintenance services. They can also advise on facilities for repair or improvements and provide valuable connections to races and events. They will also assist with preparing the purchase and sale contract and other paperwork.
Getting The Best Price
As experienced negotiators, yacht brokers will work on behalf of their clients during price and terms discussions with potential buyers. They will also act as a liaison between the buyer, seller, and their legal representation to ensure the process is smooth, streamlined, and reaches its desired outcome.
Brokers will have access to a wealth of industry data that will help them evaluate a boat’s value and sales potential. They can use this information to determine the right asking price for your boat.
Your yacht broker should be able to provide you with access to all of your service records and documentation. This can be a huge selling point for a prospective buyer as it shows that your boat has been well-maintained. It will make them feel more comfortable and confident in purchasing your yacht. In addition, your broker should be able to provide you with a detailed marketing plan and a clear breakdown of their fees.
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