Selling a yacht is slightly more complicated than selling a house and there are more details to manage. It’s the level of complication you would naturally expect for a house that floats!
Because of the myriad details that go into yacht sales, it’s important to select a broker with experience and a sterling reputation for honesty.
At Ride The Experience we have extensive experience guiding our owners through the sometimes tricky waters of yacht sales.
Choosing between Open Listing and Exclusive Listing
Just like in real estate there is more than one way to manage a yacht listing. With an Open Listing the seller may advertise his or her yacht with more than one brokerage. Only the brokerage actually selling the yacht will get the commission.
The other type of listing is called an Exclusive Listing, where one yacht broker gets a commission regardless of who sells a yacht. Any commission split is managed between the brokers.
The listings operate much like they do for listing real estate with the same advantages and disadvantages. While many buyers are tempted to go with an Open Listing, there are numerous disadvantages.
- With an Open Listing since the broker is not guaranteed a commission, they are not motivated to spend money advertising your yacht.
- The seller will frequently end up doing the sales and ad copy themselves. Listing copy is a copyright protected work, so sellers will have to come up with their own unique text for the ads.
- The listing text must meet certain standards before it will be accepted for publication.
- The seller will be the one responding to late night phone calls and requests for information, not the broker.
- The seller will be doing the pre-screening of potential buyers.
- Many premium brokers will simply not want to accept Open Listings under any circumstances.
In actuality an Open Listing is only one step above selling it yourself, with all the pitfalls that entails. If you want the best service from a motivated broker, then an Exclusive Listing is by far the superior choice.
Marketing Is Key
Marketing is what sets us apart from other brokers. At Ride The Experience we cultivate buyers from all corners of the globe, through our various marketing channels, selecting those most appropriate target market for your particular boat style.
We may select from print listing, internet advertisements, and direct mailings to our private list of interested customers who may have chartered with us in the past and are now ready to consider a yacht of their own.
Top Quality Pricing Research
Another specialty area of Ride The Experience is understanding pricing strategies that balance the selling price against your needs as a seller. Generally yachts are not considered an appreciating asset, so time on the market it critical. Along with that are storage or slip fees, maintenance, bottom cleaning, and cosmetic repairs. All that adds up and influences the pricing strategy for your yacht.
Like a house, yachts have “curb appeal” and it’s important to keep your yacht looking its best for prospective buyers. That kind of attention to detail takes time and commitment and is one of many qualities that set us apart from other brokers.
Offers and Counter-Offers
The negotiation process can frequently be stressful for both sides. We will guide you through the sometimes tricky negotiations and give you our best advice on what’s in your best interest as the seller.
Every deal is different and there is no one-size-fits-all negotiating strategy. At critical times like these you will appreciate our attention to detail and rapid communication.
For more information, don’t hesitate to call our broker, Antonio Maldonado, directly on his cell phone at 786-258-4363.