6 Reasons Why You Still Need A Yacht Broker
With the introduction of online portal, now yacht owners can sell their yachts online and on the other hand, buyers can also buy yachts online. You may think that using Yacht Brokers has become outdated. It is no doubt that selling your yacht by yourself can save a great deal of commission, but some wrongly made decisions can cost more than the commission in the long run. Buying or Selling a yacht is a major financial and emotional undertaking.
Below are the reasons you shouldn’t discard the notion of hiring a Yacht Broker just yet.
1. Full time Broker are more committed to the potential yacht Sellers or Buyers
The job of a Yacht Broker is to liaise between the Buyers and the Sellers. Just imagine yourself attending calls from interested parties, answering questions and making appointments. It is a task requiring full commitment because potential customers are likely to move on if you tend to be busy or do not respond promptly. Alternatively, by hiring a good Yacht Broker, you can save yourself from all of that trouble.
2. Negotiation is not easy
Everybody hopes to do business with sensible people and have a smooth flowing business deal. Many people do not like to involve Yacht Brokers in their business transactions because they feel that direct negotiation between Seller and Buyer is more transparent and hence will better look after their own best interest. Unfortunately, this isn’t always easy.
What if you, as a Buyer, like a yacht but the Seller is a pain in the butt? Your Broker can negotiate on your behalf. Vice-versa, if you are the Seller, you do not need to confront potential Buyers who want to niggle about the price.
A Yacht Broker will act as a middleman who will convey messages between the Seller and the Buyer. A Broker may be in a better position to negotiate and prevent bad blood between Sellers and Buyers that can kill a deal. Negotiation is a tricky business and it is best to be left with the professionals.
3. Not everyone likes paperwork
An experienced Yacht Broker deals with Contracts and conditions on a regular basis. You need a Sale/Purchase Contract that protects you and ensure that you are able to back out of a deal should there be any dissatisfaction.
An experienced Yacht Broker will know how to use the Contract to protect you, whether you are Selling or Buying a yacht.
4. Established Yacht Broker Can’t Lie
It is all about reputation. Established Brokers will not do anything that will tarnish their reputation because most of their business depends on referrals and repeat business with existing clients. Hence, the Broker will always try their best to serve their Buyers or Sellers and hope to get positive reviews and feedback from their services.
If the Buyer/Seller finds out that the Broker is misleading or he/she is not happy with the Broker’s service, they can always report them online and write bad reviews about the Broker. (e.g: www.ripoffreport.com) The community at the marinas and yacht clubs are close-knit and therefore bad reviews spread faster than wildfire.
5. Not Everyone Can Save Money
Many people think that Selling their yacht themselves is a piece of cake. They avoid hiring a Yacht Broker to save money. They simply price their yacht based on the Asking Price of other comparable yacht in the market – this is often vastly different from the actual Selling Price! It may seemed to be the right thing to do, but it may turn out otherwise. For example, you are Selling your yacht on your own based on the market Asking Price, and you think you can save paying the commission; likewise, Buyers who are looking to buy a yacht sold by owners may also believe that they can save some money by not having a Yacht Broker involved. The Buyers might expect it and make an offer to you accordingly.
Unless you and the Buyer agree to split the savings, it is unlikely that you both can save the commission.
6. Local knowledge
Purchasing yachts from other countries requires understanding on the yacht’s Registration rules, Insurance and Visa requirements. An experienced Broker will make sure that this important information is known to the Buyer.
Some second-hand yachts may require some touch-ups before the Buyers goes on board. The Broker will ensure that the yacht is in a satisfactory condition to the Buyer before handing over the yacht.
With this, you can enjoy your yacht hassle-free at the designated place or country.
The Bottom Line
It is true that the yacht trader online portals make it a lot more convenient and easy for people who are capable of selling/buying things on their own. But by looking more deeply into the Buying and Selling process, you will find that it is not as simple as buying a pc or handphone online. It is always better to have a professional working with you when Buying something, such as a yacht, that involves a substantial amount of money.