To broker or not to broker, that is the question...

[dnsellers]

I have recently repowered a 1989 280 Sea Ray Sundancer, upgrading the twin 4.3's to 5.7's. The interior is in excellent condition, and it has EVERY option you could imagine. Central heat/AC, 3.5 kW GenSet, radar, GPS, satallite T.V., hot water. You name it, it has it. The boat itself is in excellent condition. The LOA is a tad under 32ft, and it currently sits on a very nice (and large) 2002 tri-axle trailer. The trailer will probably be sold seperatly, but my question is this: Should I try and sell this myself, with the boating season right around the corner, or bare the 10% brokerage charge. Anyone with any knowledge in this area please help!! The average value of these boats, same year, with sometimes not nearly the amount of add-ons and minus the two new engines runs around 28,000 up to 40,000. Advertising could get expensive, and would be covered if I broker it. But how much advertising would I really need with the season as close as it is?? Should I advertise this type of boat in my local newspaper, or run it in like a boat or yacht trader?? Thanks!!

 

[mattttt25]

Re: To broker or not to broker, that is the question...

in my opinion, you are sort of at the line with that boat. but i would try and sell it myself first. i would give it one month in boattraderonline. pay the extra to get multiple pics, and provide every detail you can in the ad. won't cost you much to run for a month. if you don't sell after that, consider a broker.

 

[tommays]

Re: To broker or not to broker, that is the question...

derek<br />it really depends on how much value you place on your time and how good you are at picking out who can really afford to buy the boat vs the tire kickers<br /><br />a boat like this goes way beyond a casual buy it is a big ticket item<br /><br />most people would want the sale to be based on a sea trial and thats were a GOOD broker with the ablity to check credit really starts to come in and earn there money<br /><br /><br />tommays

 

[LubeDude]

Re: To broker or not to broker, that is the question...

I think it very much depends on the broker, I myself would try and do it myself. I Bought the Bass boat I have now from a broker, were it not listed with them I would never have found it. With that said, I wasnt happy dealing with them and allmost backed out due to them not following though on some things. I paid cash, but they can arange financing if need be and make the boat buying experience easier for some buyers.<br /><br />I didnt answer any questions I dont think, you have to just take the advice you get here and figure if you want to spend the time to do it yourself. There are some good advantages to having a broker do it though, probably the best one is being available to show your boat anytime of the day, any day of the week.<br /><br />Good luck.

 

[mercrewser]

Re: To broker or not to broker, that is the question...

Never let a broker or anyone else demo your boat. If they damage something, they may not be liable. I had a broker overheat my engine and crack a manifold.

 

[waterone1@aol.com]

Re: To broker or not to broker, that is the question...

well I have sold quite a few boats over the years (all 26 ft and up cabin cruisers), and have never used a broker. In my opinion, a number of years ago they were needed much more than today. With all of the internet sites (some of which have very reasonable rates) you can reach as many people as a broker (without the 10-12% commision).<br />I will say that you will be getting some real off the wall offers and phone calls that waste your time....that is part of it. Never, repeat never, offer sea trials until the deal is struck and you have a deposit check in hand. The sea trial is the final deal maker/breaker....not the start of negotiations. If you are selling a higher dollar boat that is more than a few years old you may wish to have a survey done prior to listing it, it isn't necessary, but it will give you a better shot at selling it. Good luck !

 

[cc lancer]

Re: To broker or not to broker, that is the question...

Good advice from all posters, Derek the last 5 boats I have bought came off the internet. Newspapers ads just don't will not give you the coverage that the net will.<br />and re read waterone1 advice:Never, repeat never, offer sea trials until the deal is struck . Or you will be giving free boats rides.<br />Last only accept a bank to bank transfer to your account, buyers can stop payment on a cashiers check.

 

[BillP]

Re: To broker or not to broker, that is the question...

I normally sell though the boattrader but have used brokers with mixed results. If a broker also sells new boats beware that he MAY use your boat as a lead to sell the more profitable new one. It happened to me with two different brokers and two different boats. I found out later from potential buyers telling me the brokers bad mouthed my used boats and pushed new ones. A third broker did not show me a legit offer from another broker. I presume he didn't present it so the commission wasn't split. On top of that I paid slip rent (broker's slip) another couple months until HE sold the boat. <br /><br />If you have the time and attitude to deal with tire kickers sell it yourself. Like already mentioned do a formal offer and deposit before having sea trials. Ask any broker and you will learn that sea trials rarely make or break a boat sale. If you provide a survey be prepared to have calls back from a disgruntled buyer who discovers something not on the survey and expects you to pay for it. It's better to let a buyer to provide his own and serious buyers generally won't rely on the seller's survey anyway. <br /><br />Otherwise, pick a broker who only makes his income from the sale of used boats. If a broker is charging you for lot or slip rent be aware he may not push too hard to sell a boat that generates cash flow. Find out what % of the commission is spent on advertising before you sign up too.

 

[arks]

Re: To broker or not to broker, that is the question...

I'd like to add my experience here. I sold my 23' Wellcraft on a free site (www. powerboatlistings.com) but it took about a year to find a serious buyer. First guy to take the time to come see it bought it. As mentioned above, I seatrialed only AFTER negotiating the deal, getting it in writing via an agreement of sale, and a 10% deposit.<br /><br />I found my current boat on ebay, but didn't buy it for almost 6 months after the auction ended. I kept the guy's info and contacted him when I was ready to buy. Ebay can give good exposure even if the boat isn't sold there.

 

[rickyp52]

Re: To broker or not to broker, that is the question...

I find the advice about not offering a sea trial before a deal is struck to be interesting. I too have bought and sold several boats on the internet and not one of the transactions were completed without a sea trial first. As a buyer I would walk away from a deal if the seller insisted that I commit to purchasing the boat before a sea trial. Am I missing something here?

 

[Solittle]

Re: To broker or not to broker, that is the question...

I'm kinda with ricky on this. Sorta depends on how well you think you can read people. One way to handle a buyer who you think might not really be serious is to agree on a price and get it in writing contingent on a water test and also require a non refundable deposit. A serious buyer will most likely recognize that you value your time. A joyrider might walk - but that is OK with me. I don't want to tie up a half of a day burning my gas giving a stranger a ride.