Join Date: Oct 2008
Location: South Coast Ontario
Thanked 93 Times in 82 Posts
Rep Power: 10
The biggest reason why FSBO boats don't sell is the seller prices his boat too high based on "asking" prices he sees nationally, and a refusal to budge on the price.
The biggest reason FSBO boats sell within a week is because the seller priced the boat too low, and after receiving 35 phone calls AFTER the first buyer rushed over waving cash, the buyer is kicking himself.
The biggest rason that uncommon FSBO boats don't sell and end up with brokers is because the seller doesn't know how to market his square peg. A free ad on a local website for an oddball boat in the high five figure/ low six figure range ain't much of a marketing strategy, and it is typical of many would-be sellers.
So, where's the balance? That is where a broker comes in.
When it comes to production boats, the broker has to balance three factors:
1) owner's expectation of what a boat is worth.
2) what comparable boats have sold for in the region, nationally and internationally.
3)Duration of listing.
If an owner wants top dollar for his boat, and isn't in a hurry to sell it, or doesn't NEED to sell it, then a good broker will tag it at the upper end, and then arket it like it is worth the price- lots of exposure, lots of pictures, lots of advertising, lots of urging the owner to keep it clean and ready for showing, and a good broker will also make sure the owner understands the boat is going to need to be on the market for a year to get his price.
When it comes to one-offs, unique or uncommon boats, all bets are off. Wharram cats are really cool, for example, and an ideal boat for the south pacific/ caribbean, but trying to sell one in Seward AK or Hot Springs AR is gonna be tough sledding. A broker who understands that weird stuff requires more marketing effort is vital if you want to get your white elephant gone, let alone sold at anywhere near what you are asking.