See full version: How much do broker charge to sell your boat
Mechanical work is extra. If it's a 12k or 15k boat. well, that's the cost of dealing with lower priced assets. What some guys will do is get you to reveal a "best-lowest-price." And then get what they can over that. 2-4k maybe. As long as it's disclosed it's perfectly legal/ ethical. Not many real brokerages handle assets under 30k. At the end of the day, it's just not worth it. [links]
Mechanical work is extra. If it's a 12k or 15k boat. well, that's the cost of dealing with lower priced assets. What some guys will do is get you to reveal a "best-lowest-price." And then get what they can over that. 2-4k maybe. As long as it's disclosed it's perfectly legal/ ethical. Not many real brokerages handle assets under 30k. At the end of the day, it's just not worth it.
If the brokerage charges 10% comission, the sales man if he lists and sells will get 5%, and if he lists and some one else sells it, its 2.5%. So that will not leave him alot of room to fix anything out of pocket. Best be is to list it in a range that will allow you to fix it at your cost or to give the buyer a discount to fix. [links]
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If you have a set commission then you know what you are making up front. This can be ideal if you like having security in your commission.
In some states, you might be required to obtain a brokerage license. You might also be required to pass a background check before being able to obtain this license.
Some brokers may offer a lower commission option to bring in sales and stay competitive. These could be between 3%-5%. here
The most common commission for a yacht broker is 10% of the sales price. This is not a number that is set in stone.here
The most common commission for a yacht broker is 10% of the sales price. This is not a number that is set in stone.here
How Much Do Yacht Brokers Make?
The base salary for a yacht broker is typically between $15,000-$30,000. On top of that, a yacht broker typically earns around 10% commission on the sale value depending on the size of the vessel.
There are two ways that commission can be calculated, either using a net number or a percentage.
This is not a large amount of money, which is why yacht brokers rely heavily on commission to make their money.
If you do not need a license, you might benefit from getting certified. Organizations such as Yacht Brokers Association of America can certify you after 3 years of experience. This will help raise your credibility to employers and potential customers.
Remember to cancel your insurance as soon as the transaction is completed and the boat leaves your control. You may get a refund on the unused portion of prepaid insurance.
It's also worthwhile to consider any assets that you can 'trade' with, that have less of a value to you than money off the selling price. For example there may be items of equipment or accessories that you could 'throw in' rather than accept £1,000 off the asking price. This may satisfy the buyer's need to get more of a discount and at the same time be acceptable to you. Work out in advance what options you have in this respect and keep them up your sleeve until you start the serious negotiations. [links]
When negotiations are complete - possibly after a survey and a re-negotiation on price - the broker will send the seller a Bill of Sale to complete and return, together with all the documentation and keys. They'll advise when completion has taken place (when the funds have cleared), and issue a completion statement, sending you the balance of the money, minus his agreed commission. The Bill of Sale makes the legal transfer of ownership of the boat. more
In the text of your advert, remember to include all of the items and features that will help set your boat apart from the rest This will help justify your sales price and attract potential buyers. To calculate a realistic price to sell at research the market by looking at similar boats for sale. here
If you choose to sell your boat with a Dealer who represents the same brand as your own boat - for instance, Bayliner, Quicksilver, Jeanneau, Princess - there can be several benefits.
Finally, find out what commission each of them charges and what their other terms are. Then you have plenty of information to make an informed decision from. more