In the market for a new boat? Steer clear of part-time yacht brokers, especially if you are a first-time buyer. It’s very important to work through a qualified full-time broker for the best possible experience. Whether you’re looking to enjoy the open water, land that trophy catch or compete in a tournament…the full-time brokers at MacGregor Yachts are here to help you find the right boat for your application.
Learn why purchasing through part-time brokers isn’t ideal and why your best bet is working with a licensed, full-time yacht broker.
Does your broker know his or her listings well? Your broker should know their listings inside and out so that you can make the best possible choice for your lifestyle and preferences. During the sales process, your broker should be helpful and offer sound advice about the sale of the boat. They should have strong negotiating skills, understand how to handle the paperwork, and of course, know how to effectively market their listings. Great brokers usually have a complete “book of business”, packed with past clients’ contact information they can reach out to at any time.
A qualified broker can also help you navigate state and maritime laws throughout the transaction. When you purchase a vessel, there are tax procedures, required paperwork, and other steps that must be followed in order to take ownership. It can be a daunting process. Practiced brokerage staff will guide you through these policies every step of the way and be able to answer any questions or concerns you may have.
When you work with a full-time broker, you can expect customized services. Usually, your broker will specialize in a specific type of vessel. For example, MacGregor Yachts focuses on selling custom sportfishing yachts and Evolution focuses on high-end center consoles, while others may focus on motor yachts. If your broker isn’t familiar with a vessel you are interested in, typically he or she can work with or get advice from a broker who has that specialized knowledge. Experienced brokers know when they are out of their element and will go out of their way to pair up with a specialist in order to serve their client’s best interest.
Once you’re in the process of buying a vessel, your broker will help negotiate the contract. Keep in mind, part-time brokers will not have the experience or the skills to effectively negotiate a purchase as well as a full-time broker.
Part-time brokers might also struggle to offer comprehensive pre-purchase and post-purchase services like surveys, maintenance, dockage, crew, etc. Bottom line – work with a professional, full-time broker when you decide to make a big decision like purchasing a yacht!
The Downside to Part-Time Brokers
In the last few years, there has been an increase in part-time yacht brokers entering the marketplace. A few issues will arise with this type of broker, including their lack of base knowledge, limited schedule availability, and friction with full-time brokers (which can slow down your purchase process).
For boat buyers looking to get all the information they need on a specific vessel or who want to make a smooth, stress-free purchase, it’s best to work with a full-time, licensed yacht broker. When you choose your broker, look for one with years of experience and who specializes in the vessel of your choice. Best of luck finding your perfect vessel!