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Advise on a Fair-Market Value - To ensure the timely sale of a boat, it is essential for it to be listed with a fair asking price. A broker can help establish fair-market value for the boat, usually with a margin for the typical offer-counteroffer of negotiations, through his or her experience in the recent sale of similar boats, general market trends, and an honest evaluation of the boat's condition. The broker's network of available listings allows him or her to compare the asking price of comparable boats in the local market. Most buyers will know when a boat is overpriced, and a good broker should be able to steer the seller through this potential pitfall.
Complete the Listing - A broker will help the seller compile the necessary documentation and outline the boat's inventory in a way that highlights its most attractive features. At this point, the broker can identify possible problems and offer solutions. It is worth noting that many sellers believe that to gain maximum exposure they should enter into Open Listing Agreements with many different brokers. Almost without exception, the exact opposite is true! A broker will be reluctant to advertise, promote or co-broker an Open Listing. A seller should choose his broker carefully, but then stick to one agent by entering into a Central Listing Agreement.
Offer a Network of Contacts - Most brokers are active in networks that cover Puget Sound and beyond, whether it's the BUC system, out-of-state contacts or cooperative working arrangements with other area brokers. The broker's network of contacts with whom he or she co-brokers is critical to finding the right buyer for a boat. Co-brokering greatly enhances the field of available buyers. It also allows the seller to choose one broker with whom he or she feels comfortable while still allowing maximum exposure. Maximum exposure to potential buyers is, after all, what a seller most wants from a broker.
Outline an Advertising Strategy - A professional broker will be able to outline a plan of how a boat is to be advertised in the most appropriate media. The best means to promote a Bayliner 21 is vastly different than the strategy for a Swan 55. Through a solid advertising and promotional plan, the broker can help the seller obtain the best chances of reaching the most interested and qualified audience. In addition, with a Central Listing Agreement, most brokers will share information with other brokers, further increasing the prospects of finding the right buyer.
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