A yacht broker helps with buying and selling pleasure boats, typically between 8 and 120 meters. They can act as agents for either the seller or buyer, providing mooring, advertising, and inspection services. Yacht brokers can also help buyers find the best yacht for their needs and offer advice on boat ownership expenses. Selling a yacht can be complicated, but brokers can provide centralized mooring and advertising services to attract potential buyers.
A yacht broker typically provides a variety of services related to the buying and selling of pleasure boats. This term is generally used in reference to pleasure craft of length between eight and 120 meters (about 26 to 390 feet), while larger craft belong to the super and mega yacht classifications, and smaller powerboats are often referred to as cabin cruisers. A yacht broker may only deal with vessels that technically qualify as yachts or may also work with smaller and larger vessels. Some brokers act solely as agents for either the seller or the buyer, while others perform both roles. A seller’s agent can provide mooring and advertising services, and the buyer’s agent usually locates desirable vessels and can also arrange for inspections.
Yachts are often a significant monetary investment; therefore, it is important to locate the best buyer and seller for each boat. An owner may not have the resources, time or desire to properly market their boat, while a potential buyer often lacks the necessary contacts to locate their ideal vessel. Yacht brokers can work individually or as employees of large brokerage firms to bring these two groups of people together. The buyer’s agent generally seeks to locate a yacht that meets the customer’s specifications, while the seller’s agent tries to get the best selling price for the customer. Regardless of which side of the transaction they are on, the yacht broker will normally receive a percentage of the sale price as a fee.
When an individual wants to become a boat owner, he can conduct significant research to determine the type of vessel he wants. A yacht broker can help with this process, providing knowledge and experience that the buyer may not have. Brokers can guide a potential buyer to the best make or model of yacht for the buyer’s specific needs, or offer advice on taxes, other expenses and pitfalls associated with boat ownership. A yacht broker may also have extensive contacts to look for the best boat and negotiate with a particular buyer.
The process of selling a yacht can also be time consuming and full of complications or hassles. Mooring can be very expensive for large yachts, and arranging to show the vessel can be a time investment that a potential seller is not interested in making. Some yacht brokers provide centralized mooring services where they can show the boat to a wide range of potential buyers. A yacht broker can also use his contacts or his brokerage’s advertising reach to attract more potential buyers in a shorter amount of time.
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