Boat Brokers work like real estate agents. We are agents whom people consult to find and purchase a boat, and whom people hire to list, represent, and sell boats for them. Traditionally, the seller pays the commissions that a yacht broker earns - not the buyer, yet brokers have a duty to both buyer and seller in every transaction.
For the seller we will
Assist in determining a fair asking price - to ensure a timely sale it is essential to ask a fair price. At Power and Sail we can help establish market value for the boat.
Prepare the listing for the Public - the broker will prepare the listing for distribution in various electronic and print media, for print and email distribution to clients and other brokers, and for distribution to prospects at boat shows.
Prepare the boat – Power and Sail may suggest of any improvements that should be made to compete within today's market, identify possible problems and solutions, and make suggestions about organizing upgrades & repairs. Power & Sail can help to locate easy-access moorings/storage for the duration of the listing.
Sea trial and survey - The buyer will usually request a sea trial and the services of a marine surveyor. Buyers pay for the surveys and for hauling the boat out of the water for inspection. Power & Sail will usually attend the sea trial and marine survey and help you determine how any discovered deficiencies should be addressed in the purchase negotiations.
The art of negotiating the deal – Power & Sail can use its position as a middleman to keep the negotiations between buyer and seller moving to a successful conclusion.
For the buyer we will
The initial inquiry – Power & Sail will listen closely to your wants and needs and will help you determine if the boat you are calling on is the right boat for you at the best value. We can objectively tell you about the condition of the vessel before you decide whether or not to spend your time to look at the boat. We will help you determine if there are similar boats on (and off) the market, the history of the boat, how long it has been on the market, and the motivation of the seller. Anyone can look up asking prices on boats, but it takes a professional broker to have an intimate knowledge of current market conditions, a familiarity of similar boats, and information on recent sale prices and time on the market.
Making an offer on a boat – Power & Sail can help you decide on a realistic offer that increases the chances of buying a pre-owned boat for a fair and reasonable price, and with the necessary elements to protect your interests. Your broker prepares an Offer to Purchase for your signature. It should spell out the terms of the sale including obligations that you and the seller have agreed to, and when these obligations will be fulfilled. You also make a good-faith deposit on the boat once the offer is accepted, usually placed in trust account, and subject to sea trial and survey.
Paperwork – Power & Sail are familiar with all the paper work requirements for their state from the initial Offer to Purchase and Contract of Sale to licensing and registration and other documents needed to complete a sale. For example, agency contracts, listing agreements, closing statements, deposit requirements and accounts to safeguard funds.
Sea trial and survey - The buyer of a pre-owned vessel will usually request a sea trial and the services of a marine surveyor. Buyers pay for the surveys and for hauling the boat out of the water for inspection. Power & Sail will usually attend the sea trial and marine survey with you, and help you determine how to properly address the nearly inevitable yacht survey issues and put the problems in context. They can help estimate time and cost of correcting, and where to obtain accurate quotes for items that are unfamiliar. Your lender and insurance carrier will usually require a copy of the survey.
The art of negotiating the deal – Power & Sail can use it's position as a middleman to keep the negotiations between buyer and seller moving to a successful conclusion.
Safeguard Funds – Power & Sail will use a trust account for clients' funds, and ensure that at closing, any existing loan or other encumbrances is paid off. This safeguard is of critical importance to the buyer and seller, and can be a potentially serious hazard in a private transaction not involving a broker.
After the Sale – Power & Sail may help you find moorage and boat maintenance and repair specialists or facilities. They can refer you to classes on sailing, boat handling and seamanship, their experience in local waters can help you chart a course for a great day, weekend or longer trips. They can connect you with boat clubs, races and rendezvous sponsored by builders and dealerships. Plus, you've got a new boating friend for life.
So please give us the opportunity to work for you on a no sale no fee basis…you have nothing to lose.
For more information please contact us.