When Bubba Remster of Cape May, New Jersey decided to sell his 42’Henriques custom sportfish it was an easy decision for him to choose to hire a professional yacht broker to sell it. As a successful real estate developer that focuses on high-end waterfront construction, free time is limited and precious. “I just wanted someone to take care of it for me,” Bubba said about selling his boat. Scott White from United Yacht Sales was given the task of selling the Henriques. Bubba and Scott became friends through fishing tournaments together over the last several years to the point where their families even became close. “MY daughter would even go babysit Scott’s kids,” continued Bubba. So with that trust came the opportunity to help Bubba continue with his boating plans.
The Henriques sold quickly to a buyer in San Diego who put a deposit on the boat before ever even seeing it. He flew to Cape May, did a sea trial and a survey, and the closing paperwork was done. Bubba was now faced with a decision common to boat owners of all sizes, types, and price ranges – what to do next?
“I just call Scott,” Bubba said about his plans to find his next boat, a 55 to 60 foot sportfishing yacht. “I’m too busy to stay on top of what’s happening with the boating market. I don’t want the aggravation of having to go see 20 different boats. I call my broker, I tell him what I want, what I want to spend, and he goes and does the homework for me. We narrow it down to 3 or 4 boats, I go see him, and we make a decision. I like to lean on his knowledge of what the boat should be priced at and let him do the negotiating with the other side.”
Most boaters that have gone through the buying process have become experienced enough to know that trying to do it on your own is time-consuming and can result in frustration at the closing table. United Yacht Sales has over 150 sales professionals through the U.S., Canada, Mexico, Europe, and Asia which creates the largest network of buyers and sellers in the world. Along with their industry-leading support staff, United can take the stress out of your search for the right boat so you can focus on what matters. Below are four reasons it makes sense to put your boating future in the hands of a reputable, trustworthy yacht broker.
- Expertise – There is no substitute for experience. Many yacht brokers focus on different markets or types of boats depending on what they are most familiar. Some brokers may have years of experience working with sportfishing brands like Hatteras Yachts while others have more experience with liveaboard boats. Regardless of their area of expertise, choosing the right broker to help you find the right boat for your specific needs is crucial. Brokers with expertise on the boats you’re considering can steer you away from models with known issues or steer you in the direction of the most reputable and reliable brands.
- Due Diligence – Hiring a professional yacht broker when purchasing a boat relieves of you of the exhausting “homework” that inevitably comes once you find several boats of interest. Good brokers will scour both the yachts listed for sale on the MLS and reach out to his or her counterparts to see if anyone has a pocket listing, an available boat not yet on the market. Once a list is made of the boats that match the customer’s requirements, the broker goes to work digging into their condition and history. They contact the owner or the listing broker and get their input on the boat’s condition. If possible, the broker will even go preview each potential boat for you so your time isn’t wasted. It’s not uncommon either to have your broker attend the sea trial with you and go over the survey results.
- Negotiation – Hiring a professional yacht broker means that you have someone in your corner, working on behalf of best interests. This not only means advising you on the fair market value of a boat you’re interested in, but even negotiating with the listing broker on your behalf. This can be a daunting part of the experience for any boat buyer. A reputable brokerage firm will also have a dedicated escrow account solely for holding your deposit. This deposit is submitted, along with the Purchase and Sale agreement that your broker has prepared on your behalf, to the other party pending the survey results.
- Support Beyond The Search – Once a price has been agreed upon with both sides, a yacht broker that belongs to a larger, professional firm will have a support staff that will ensure all of the paperwork and registration is completed properly. This can be a real struggle for brokers that don’t have a team or if you are trying to purchase a boat as a private transaction. Additionally, many yacht brokers can recommend reputable surveyors and service departments if anything comes up on survey that needs to be fixed in order for the boat to operate safely.
Buying a boat be an exciting and memorable experience. The moment you turn the ignition and fire up the engines on your new boat is a thrill that only a small percentage of the world get to feel. The process to get to that point though can be an emotional rollercoaster. Save yourself the hassle and use a professional yacht broker when buying your next boat. It just makes sense.