A Yacht Broker’s Tips and Tricks to Buying and Selling Boats:

Part of my job as a yacht broker is to make sure my customer, when they are buying a vessel, enjoys the selection process. The customer must walk away from the sale believing they got the best boat for the best price. It is never the wrong time to buy the right boat at the right price. Therein is the sole purpose of my job: to make sure the customer gets the best possible price for the boat best suited for them.

Make sure when it comes to purchasing a boat you have multiple vessels to choose from. Techniques your broker should be able to guide you through include how not to fall in love with a boat too quickly, how to walk away from a deal that does not meet your needs and how to always leave yourself some options.

After you have looked at a handful of boats, prioritize which ones you want.  Begin making an offer on your first choice and have a final price in mind for what you are willing to pay for that boat. Try not to form a mental picture of how the seller will respond to your offer and be prepared for the possibility that the seller may come back much higher than expected so you are not caught off guard. Never say YES to the first offer or counter-offer from the other side. Remember to ask for more than you expect to get (and you might just get it), and always leave some negotiating room.

If you cannot get the seller to agree to your price, have the ability to walk away from that deal and address another option. Especially in a buyer’s market it is important to not argue too much in the early stages of negotiating as it creates conflict and you may want to revisit that deal later on. In my experience and in this market, I have found that when you walk away from a deal and put some distance between yourself and it, the seller may come back around and want to renegotiate rather than have the deal disappear from the table. If this happens, you are now in the driver’s seat and have a better chance of getting the boat for your price and under your conditions. You want to position yourself for the other side to make an easy acceptance. Negotiating is just like a game of chess.  I have used this method with many buyers and generally like to have three possibilities when it comes to making offers.  My goal is for my customer to walk away from the negotiating table feeling they have won.

You must have trust in your broker that he or she is going to get you the best price for your boat whether you are selling or buying.  Each broker will employ different techniques based on their personality and experience, just make sure they leave their ego at home. The right attitude is essential to making sure it is an enjoyable experience.

On another note, Ocean Alexander is pleased to announce the opening of our Charter Department. If clients would like to put their vessel into charter they can do so and we have an agent that will devote 100% of their time generating charter revenue. It is a great way to offset monthly costs. Also, if a customer would like to charter any vessel anywhere in the world, Ocean Alexander is now capable of fulfilling that need.

Lastly, we have now fully moved into Pier 66 under the 17th Street bridge in the heart of Ft. Lauderdale and directly on the ICW. We are only minutes from the Port Everglades Inlet. We are offering hugely discounted dockage, substantial fuel breaks and cheaper hotel rates. If you have a boat to sell and you want maximum exposure, our Pier 66 office can provide that. If you ever have any questions or comments, please do not hesitate to contact me at: grant@oceanalexander.com or 786.390.2782.

Have fun! And happy and safe boating!! Keep it between the channel markers!!

prma