In general, brokers are the individuals or a party that acts as an intermediary between a seller and a buyer. They get rewarded in terms of commission which is a portion of the total sales that is paid after the deal is finalised. As well as selling boats for other private sellers many boat brokers also have their own vessels for sale in their boatyard. Every industry has brokers and the sailing industry is no exception. Despite acting as a third party, you cannot rule out their significance in facilitating smooth transactions.
The Role of Boat Brokers
Aid in initial enquiry – While looking out for something that suits your needs, it is important to have someone who closely listens to your requirements and helps you find the most suitable craft. Brokers also usually have an idea about the history of a particular boat or yacht (or the experience and know how to find out the required information). Your broker will be familiar with the numerous options of craft on offer and be familiar with the current market conditions too.
Offer help in getting marine insurance and loan – If you find that you need some additional funds when negotiating prices, there are a number of boating lenders that specialise in providing loans. You will require boat insurance for you new sailing vessel when purchased, which can be a difficult aspect of boat owning to navigate. Brokers are extremely useful in bridging the gap between you and lenders or insurance suppliers. They can also arrange the use of an escrow account for clients funds to safeguard the interests of both parties or recommend a solicitor well versed in the sailing field.
Paperwork Hassles – Professional brokers have sound knowledge about all the legalities and practices involved in trading of sailing vessels. Brokers help in processing documents ranging from agency contracts, closing statements, deposit requirements through to sellers commissions, and boat advertising listings on the selling side of the transaction.
Help in Test Sail and Negotiating the Deal – Brokers attend sea-trails, or test sailings of boats and can help arrange boat surveys for the buyers. They also ensure that the negotiations between buyer and seller reach a logical conclusion by acting as the middle-man during price negotiations.
The significance of brokers in the sailing and marine industry cannot be overlooked. Owners of ships, yachts and boats hire brokers to list and represent their sailing vessels, thereby acting as the sole intermediary to locate potential buyers and negotiate deals. Brokers can often generally take trade-ins as part exchange for people wishing to upgrade their current craft. So even if you are looking for a low cost way to get on the water your broker may have an older part exchange model that would suit the more modest budget. If you are you looking for yacht, sailing or motor boat view our brokers and find the boat of your dreams!
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