How to Find The Right Yacht Broker
Whether you’re in the market for a new yacht or looking to sell one, choosing the right yacht broker ensures you get the best service possible for what could be an otherwise overwhelming experience. From access to exclusive listings to a network of potential buyers, the right yacht broker will make the selling or buying process, seamless and easy. But with thousands of brokerages out there, how do you choose the right yacht broker to meet your needs? Look no further than this article to learn the wheres, whats, and hows of finding the right broker for selling or buying your next yacht.
Where Should You Look For a Yacht Broker?
Word of mouth is your friend. If you have access to a local marina, ask for recommendations and look for brokers with repeat clients. You could also ask for help from a local yacht club or a professional association like the International Yacht Brokers Association (IYBA).
You can also use a boat database like Yachtr to begin your search for the right yacht broker. Choose a broker from our vast network of industry professionals who will strategically market your listing and negotiate terms of purchase through a secure process that protects you and your asset.
What Should You Look For in a Yacht Broker?
Experience
The number one thing to look for when considering brokers is experience, not just within the industry, but with the specific kind of yacht you’re looking to buy or sell. A broker with knowledge of your yacht’s type will understand how to price it, what to offer, and the specific documentation and processes associated with the make and model.
Reputation
When evaluating a broker’s reputation, research the brokerage firm and the professional history of the person you want to work with. You can even try cold-calling prospects about their listings to gauge how they would represent your yacht
Knowledge
A good yacht broker will have a working knowledge of the industry including access to market insights, an extensive network of buyers and sellers, and negotiation skills, all contributing to making your experience as stress-free as possible.
How Much Does a Yacht Broker Cost?
For the most part, brokers typically take a commission off the top once the vessel has been sold. The industry standard is 10 percent, although for larger yachts, the fee may be negotiable. When the same broker lists the boat and finds a buyer for it, that broker gets the whole commission. But most boats are placed with a multiple listing service. If another broker finds a buyer, the commission is split.
Begin Your Search For The Right Broker on Yachtr
To ensure you’re getting the best service possible, Yachtr only allows brokers represented by an accredited yacht association to list your yacht. Choose a broker from our vast network of industry professionals who will make your selling or buying process effortless.