Selecting a Broker…When It’s Time to Sell

Once you decide you are ready to sell, your next decision is most important: With whom will you list your boat? The wrong decision will likely cost you time and money! Let me offer some important points to consider:

Most Brokers are learning their trade at your expense. Instead, choose someone with plenty of experience! I personally have over 30 YEARS of yacht sales experience, since starting in 1987. Having worked at several of the better brokerages, I accumulated a wealth of knowledge from each of them. I have an excellent reputation in the industry. I was one of the top producers in my previous office, the Crow’s Nest San Diego.

Unlike many brokers who are not boaters themselves, I have sailed all my life. I was a sailing instructor in high school, and have been a licensed captain since 1982. I am a scuba diver and have owned boats since I was a kid. Not only can I handle all boat types, sail and power…I am qualified to teach on them. I am a respected member in good standing with the California Yacht Broker’s Association, which has the highest ethical standards.

I routinely write articles for the “Blue Sky News”, a monthly email newsletter, which is sent out to thousands of marina tenants of 12 marinas in San Diego.

Buying or selling a boat can have it’s frustrating moments. Why not have someone representing you who has been through the process hundreds of times? I am always reachable and am very responsive via cell, text, or email.

Exposure: Years ago, like many Brokers, I advertised in four different print publications. Today the most effective tool is a first-class “online” presentation on Yachtworld.com, where all Brokers post their listings. I utilize professional photography and will do a very detailed and thorough specifications.

In order to make all this effort on your behalf, I will need to represent you as your “exclusive agent”. The brokerage fee is the standard ten percent. My services will include:

1. Comparable market analysis of current, similar listings, book values, and actual closed “comp” sales, to estimate the fair market value.

2. A personal inspection to determine what detailing or maintenance would be cost-effective prior to actively marketing the boat. As they say, “You never get a second chance to make a good first impression”.

3. Personally arranging the detailing, maintenance, and repairs, if required. I use the right people to get the most value for your money. I don’t receive referral fees or charge extra for these services.

4. Preparing a first-class, detailed presentation on Yachtworld.com, subject to your approval, including professional photos of the boat.

5. As an individual broker, all inquiries on your boat come to me, your listing agent. In larger offices, most agents are not familiar with listings other than their own! Imagine if someone calls on your boat, and the salesman fielding the call has never even seen your boat? In large offices, this is commonplace, due to the high volume of listings.

6. When negotiations are underway, communication ability is critical. I will keep in communication 24/7 when it counts.

7. Negotiation of an acceptable sales price and terms, and properly written contracts to make sure everything is covered.

8. If time permits, with your permission, I will do a pre-sea trial will be conducted, to preclude any unpleasant surprises during the actual sea trial with the buyers.

9. I will personally attend the sea trial, engine survey, haul out and hull survey on your behalf.

10. Negotiating the issues: Many boat deals fall out after the survey! If required, I will obtain estimates and negotiate a fair resolution of survey recommendations. Having been through this process hundreds of times, I have an excellent “batting average” at keeping deals together!

12. Managing survey repairs, title transfer, loan payoffs, insurance, offshore delivery, and closing paperwork, etc. Your signed “Bill of Sale” is held by an independent USCG Documentation Officer until your funds are received.

As you can see, I assist you in making sound decisions before, during and after the sale. If you want a yacht broker who is honest, hard working, knowledgeable, and is pleasant to work with, please give me a call or send me an email! -Bob Sherman, YachtSource