Those looking to buy a boat want to get the best possible price. Those looking to buy a boat want to bag a bargain. The waters that divide both parties can be choppy, which is why a boat broker is essential to navigate between them. The result? Satisfaction all around on completion of the sale.
It might be tempting to cut out the middleman, but it’s fraught with risk and, more often than not, ends up causing much more trouble than it’s worth. Read on to find out why you should always consult a luxury boat broker like MW Marine whether you’re buying or selling.
A Boat Broker With Knowledge On Tap
You have nothing to lose by discussing your options with a Sydney boat broker. There’s no obligation, and they’ll be able to offer you valuable insights and advice about market conditions and the ins and outs of the buying and selling process.
A boat broker such as MW Marine will have all the details about comparable makes and models of luxury boats at their fingertips. They can, therefore, help you understand the attractions and downsides of buying or selling any boat. There are lots of dependencies to consider, including:
- The age and condition of the boat, particularly related to the engine
- The boat’s service history
- The desirability of the make and model
- The optional extras excluded or included in the sale
- The expected speed of the purchase
A boat broker will assemble all the essential elements of a boat in one place. If you attempt to do this yourself, it’s easy to drop the ball and miss crucial details that could make or break a sale or purchase.
Creating a Marketing Strategy
If you’re selling a luxury boat, you’ll want to show it off in the best possible light for maximum appeal. This doesn’t mean over-overestimating its value but is simply about making it look attractive to draw in potential buyers.
It’s a 2-way street because buyers tend to prefer listings that look professional and stand out from the crowd. A luxury boat broker will have extensive marketing experience so that professional photos and engaging copy show off the boat at its best.
A boat broker will have a database of buyers and sellers available. This allows them to act as matchmakers. It’s their job to find parties that are the right fit. Although it’s in their interest to secure a sale, they will never want to risk damage to their reputation by under or over-selling.
Brokers also have established networks within the industry. That includes other brokers and industry experts. They can cast the net far wider than a lone potential seller could do.
A Sydney boat broker like MW Marine will also advertise boats in industry publications or online and magazine listings aimed at a wide catchment of potential buyers. Their experience means they understand when and where it’s best to place an ad.
In short, using a broker will do the following and more when you’re selling:
- Increase the visibility of your boat with a marketing plan
- Save you time & money by using recommended cleaning & maintenance teams
- Give you access to a pool of potential buyers
- Price your boat correctly
The Art of Setting the Sale Price
This is probably the most crucial aspect of selling and buying boats. Set the price too high, and you risk turning off buyers. Set it too low, and buyers might incorrectly assume the boat is a dud. Sellers might also settle for too little.
Boat brokers are bang up-to-date with market trends, current price ranges and comparable sales data. They can pitch the sale price so accurately that it’s competitive, fair and has the best possibility of achieving a sale.
If you’re a buyer, you may have done your own research and have a list of questions related to a particular boat’s value. A boat broker can steer you through the labyrinth of data that feeds into establishing the sales price.
In any sale, there tends to be room for manoeuvre in the asking price. That’s not always the case, however, especially if the market is buoyant or if a particular make or model is highly sought-after.
There’s typically a certain amount of tension immediately before the point of sale. Offer or accept too little, and there’s plenty of room for disappointment on both sides. A boat broker eliminates the stress by taking a dispassionate and objective stance.
Brokers Keep a Level Head
Luxury boat brokers are experts in understanding the sensitivities of buyers and sellers. They’ll know what a seller might be willing to take, and they’ll know how badly a buyer wants a boat and is ready to pay.
Leaving the sales negotiations to a boat broker removes the risk of buyers or sellers getting caught in a risky battle over price. They may, for example, be able to use accessories and extras as bargaining chips for either party.
Due Diligence Means Better Security
There is a process for buying and selling luxury boats. The boat’s service history and condition need checking. There needs to be clarity about inclusions and exclusions. Paperwork needs to be in order and ship-shape.
When dealing with a life-changing purchase like a luxury boat, it’s crucial to ensure you’re confident in what you’re paying for. Brokers can help in arranging surveys and sea trials with experts so that you’re satisfied with the boat’s overall condition. It’s too late to go back once the sale is complete.
You can think of your luxury boat broker as an extra layer of protection. They can help you to decipher survey reports and collate all the essential documents. They’ll assist you in answering all the right questions so that you can sail off into the future, satisfied that you have found your dream boat.
Make MW Marine Your First Port of Call
Whether you’re trying to sell a boat or want to buy one, it never hurts to talk to an experienced Sydney boat broker like MW Marine.
We are luxury boat broker experts with many years of experience in boat sales behind us. We’d love to hear from you, so get in touch with one of the team today. We’ll help you clinch the right deal every time.