If you have decided to sell your yacht one of the critical decisions that you are going to make is to decide whether you are going to sell it on your own or you are going to hire a yacht broker. If you decide to do the selling on your own, then you wont be spending money on brokers commission. However, even though this will be the case, you will take a longer period to sell your boat compared to if a broker was to help you out with the selling. Many sellers tend to work with brokers in many cases especially if the yacht that they are selling is large, new or if it is more expensive compared to the ones that are currently in the market. However, this is not the only reason as to why you would decide to hire a yacht broker to help you with the selling of your yacht.
So why make use of a yacht broker like Spriggs Yacht Consultants
Even though you may not know it, selling a boat is similar to making a real estate transaction. With this comes a lot of complexities and there is a lot of value that is involved which is why it is not a good idea for you to decide to do it on your own. A broker will work hard to ensure that your boat is in a listing. They also work hard to make sure that they can promote and protect the interests of their clients at all times. This is the same thing that a real estate agent is going to do when they are selling your house. Since a yacht broker has a lot of connections thanks to the sales that he or she has made before, this also means that your broker is the one who is going to be managing all the information flow and communications about the listing that is taking place between you and potential buyers in the market.
Not only do they have connections, but they also have a network of clients and with this comes with a number of buyers that they may introduce to you to buy your boat.
How much does it cost to make use of a broker?
Just like real estate agents, yacht brokers also work on commission. They are paid on commission once a given vessel is sold and the amount of commission is usually set in writing once the seller of the yacht signs what is known as a listing agreement with the broker. In the case whereby another broker brings a different buyer to the table through a co-brokerage agreement, then the total commission got is going to be split between the two brokers.