selecting a broker

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RonF

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I have decided to sell my 1999 Sea Ray 310 Sundancer. I am what the brokers refer to as a “motivated seller". I am trying to decide between the following three kinds of brokers:

Marine Max dealer brokerage 25 miles away

Broker A – small size local operation with business contacts in South America

Broker B – medium size local export brokerage with contacts in Europe and Australia

All three brokers say that they list on multiple domestic and foreign web sites. They all say that foreign sales are pretty good these days due to the weak dollar, and the buying season is ramping up in southern countries. They all want 10% commission and 180 days exclusive listing. They all will handle the paperwork and closing. The difference with Marine Max is that, since the boat is in a local slip, they will need to have a local broker do the showing.

Any ideas on the best one to pick or keep shopping?

Thanks
 
Honestly,
I would list with the individual that shows you they are the hardest working, most professional, honest, and knowledgeable. Ask for proven results of the specific individual you are interviewing, not company wide. Anyone who tells you they have a strong network to XYZ buyer network, tell them great, bring me a contract tomorrow. Most brokers in this market do not have a buyer in their back pocket for your particular boat, though coincidence of events could result in that. You want someone with proven success and personal proven results in this market. Ask what distinguishes them from the other firms- all dedicated brokerages are on yachtworld, etc. etc. yet some produce results, some don't which shows it takes a lot more than just being on so and so list of national/international websites. When it comes to listing price, make sure they give you real world recent sold boat data showing where they are getting their suggested list price. if anyone just lets their market analysis comprise of you telling them what you want for the boat and leaves it at that, they are only wanting the listing, not actually trying to help you sell it, or more accurately stated, they know you are too high and figure they will beat you up on price later down the road. If you are considering a 180 exclusive contract that you cannot terminate for any reason, such as you realize the broker is not working hard or doing anything or staying in touch with you, I'd suggest making sure you check their references and see what they have sold and produced in the last 3 months before signing.
 
Got out of the brokerage business in 1998 after 20 years. Marine Max is only going to sell your brokerage boat if they absolutely nothing else even close in inventory that they own. The funny thing about boat dealers is they have a financial interest in their inventory and nothing invested in your boat. Put yourself in their shoes; what boat is going to get top billing, yours or theirs? On the other hand if they have a big following for your model and no used stock and nothing else they own, to offer, they might be the best choice.

I would try to find a broker that has sold a lot of Sea Rays in the past. He or she will have a realistic idea of what your boat is worth and stats to back it up and have a file full of prospects he can show your boat to immediately.

Good luck!
 
Since my original post, I've been in touch with HMY Yacht Sales. Their web site is deluxe. They matched me to a Sea Ray expert, who will meet me at the boat tomorrow.
 
HMY moves a lot of top end Yachts. They advertise in many of the boating magazines and have been for years. I'm not sure how they are on smaller vessels? Please report your dealings/feelings on them as you go through the process. If I were serious about selling my boat I would use Watermark Marine Group.
Bill
 
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