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Click to read Triton Survey on yacht brokers and read comments below:

What one thing do brokers on both sides do during a sales process that you wish they didn’t?

  • Use the showing as a comparison for the other yachts that he is trying to steer the buyer toward.
  • Overselling the vessel’s condition and appropriateness for buyer’s intended purpose for vessel.
  • Not explain fully the high maintenance costs of running a multimillion-dollar asset. Overselling the charter potential.
  • Expect to be treated like the owner.
  • Promise to look after the crew and never do. Not even a thank-you dinner.
  • Get way too involved with other facets of boating. Stay out of management. That is what owners have captain and crew for. I have only met one broker that has the ability to stay out of trying to become the manager. He makes it clear to his clients that he is there to market and sell or find and buy. He will manage if needed, but only until the boat has a captain. Then he steps away completely. It is fantastic. Too many brokers want to hold on in some capacity because they are working an angle to get a kickback or some other compensation. Just sell or buy. Let those of us who actually have to live on the boat make the decisions.
  • Lounge around the boat and pretend they are guests.
  • Speak to the crew about anything regarding the deal as they are already nervous about losing their job, the place where they sleep, etc.
  • Make as much as they do in commissions
  • Lie.
  • Act like they are above the captain and crew.
  • Talk about the color of the couch instead of the space the couch sits in. You can always redecorate

Captains offered no shortage of advice for brokers on how to make the sales process better.

  • There has been no discussion here about additional compensation to the captain for going beyond the call of duty to help sell the yacht. I have never asked for a contracted amount and hoped that my actions would warrant a gratuity from the broker for my hard work. Sometimes it has paid off well by not asking, and sometimes it never happens, which can be disappointing after a long for-sale period. Sometimes I am left feeling used up and forgotten once the deal goes through.
  • I believe there should be a crew fee per showing. When the boat sells, the crew split the money, paid out of the broker’s commission, at the closing. It may eliminate tire kickers as well, and give some incentive to show the boat in its best light.
  • Treat us as an asset not a liability.
  • Be more understanding that sometimes with the brokers success comes unemployed and homeless crew.
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About Lucy Chabot Reed

Lucy Chabot Reed is publisher and founding editor of The Triton.

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