The yacht brokerage industry is experiencing a “seller’s market” not seen since the early 2000s. Due to several factors including the increased interest in recreational boating brought on by the COVID-19 crisis, as well as the limited number of new boats manufactured between 2008-2016, the pool of quality used yachts on the market is extremely scarce.
We receive several inquiries a week from frustrated buyers, who found their perfect boat time and again, only to learn that it is already under contract. Indeed, many of our centrally listed vessels go under contract within days, if not hours, of coming on the market this season. How is a buyer to succeed under such conditions?
Working with a Professional Yacht Broker provides buyers the key to success. A Professional Yacht Broker offers buyers their network of clients and vessels, so when that “perfect boat” comes to market your Professional Yacht Broker will be ready to work on your behalf to secure the deal.
There are a great many other benefits to working with a Professional Yacht Broker. At Brewer Yacht Sales, we perform the following services when working as a “buyer’s broker”:
- Search for vessels that meet your criteria
- Research competitive market pricing and recorded actual sale amounts
- Provide Boat History Report on all vessels of interest
- Help negotiate a fair deal
- Advise & help with the assembly of a competent professional survey team
- Coordinate schedules for the survey, schedule short-haul with the boatyard
- Renegotiate price/terms based on any survey deficiencies
- Negotiate escrows that may need to be established
- Hold escrow funds in a Brewer Yacht Sales escrow account
- Perform Title search, order USGC abstract of title on documented vessels
- Prepare official closing documents and electronically archive these documents after closing
- Electronic transactions, electronic deal forms, and electronic banking offers expedited services
- Satisfy any liens against the vessel prior to the seller receiving proceeds
- Advise on sales tax laws that will vary by state
- Prepare USCG documentation application & state registration paperwork for the client to register the vessel
- Secure proper deletion of registry on foreign-flagged vessels
- Provide USCG deletion for vessels sold to non-US citizens.
- Provide finance and insurance options
- Advise on shipping options where applicable
- Help with summer slip and winter storage for newly purchased vessel
- Suggest maintenance services that are available for hire
- All transactions will comply with YBAA standards & code of ethics
While this is a complete list of the services offered by Brewer Yacht Sales Brokers when acting as a “buyer’s broker”, many of these items are generally respected industry standards provided by Professional Yacht Brokers.
As a serious boat buyer in this market, why go it alone? Contact a Professional Yacht Broker today and get on the water in the boat of your dreams.