Best way to sell????
Folks...I''m ready to put my well-maintained Morgan 28 IO up for sale, and have a number of questions about how to best go about this.
Should I sign a contract with a company to sell my boat, and if so, should I go with a larger or smaller firm? What should I expect to pay them? A percentage, I assume. What timeframe should I expect to sell my boat? What services should they offer?
And what if I decide to go it alone? Where should I attempt to market it? On websites, and if so, which one(s)? In magazines? In the local newspaper (I live in Annapolis.)
Thoughts/suggestions are welcome...Michael
Best way to sell????
If you select a broker you ought to be able to talk with them and feel confident that they know boats and will do a good job promoting your boat. They should know about a Morgan 28 IO and be able to talk about them to you so they can talk to buyers as well. They should get good pictures made and create a good detailed narative about the boat so a buyer can tell what they might want to actually go look at. They should promote the boat through many venues that are targeted to people that might buy your boat. They should help set your expectations about the price so you feel comfortable and realistic. They should help you make a list of things you need to get done so the boat can be shown properly and look good too. You should expect that a buyer will survey the boat so you need to feel comfortable about the condition. A broker can help you decide what things to do and not do. Rememebr no one will like your boat more than you do right now until they get to sail it a few times and get to know it. You have to help people want to like it as much as you can.
A good broker will help hold the deal together being the go between between you and the buyer. It helps some times to have a third party do this task. Good brokers help the process along without pissing anyone off or causing the deal to stall.
I just bought my boat through the sellers broker. The broker was a great guy and worked very hard to get us both the best deal. We both were happy and we both felt the broker worked very hard for each of us. The seller had tried to sell his boat himslef for almost a year with no sale.
Most boats sold through a broker are sold by probably only 10% of the brokers. As with realtors most of the brokers out there are not that good but the good ones earn their money and sell most of the boats. You need a good broker to sell a boat you can''t sell on your own. The poor brokers charge just as much as the good ones.
Size of firm means nothing what so ever. It''s about the broker you choose to represent you. The "firm" won''t do anything to sell your boat. The broker will actually pay the "firm" a cut and they won''t do much other than give him an office. That one person counts more than any single factor. Don''t use anyone you wouldn''t buy a boat from yourself. Talk to them and if you don''t like them or they don''t know about your boat just move on. There are enough of them out there that you can have one you do like.
No one can know how long it will take to sell the boat. You are not looking to be boat of the year you only need one happy buyer. You should focus on what the process will be for promoting your boat not listening to a line about how fast it can be sold.
You could try to sell it yourself. Frankly if it were easy to sell a boat there would be no need for brokers at all. You need to decide what not selling it will cost you per month plus you will have selling costs to deal with. It''s not a free propsition selling your own boat.
Should you choose to sell it yourself then you''ll want to do everything a good broker would do. Many folks sell their own boats, so it can clearly be done. Look at Soundings magazine for a listing of boats for sale by owner. One good way is to just look at the boat ads on say www.YachtWorld.com or any place you can see them. Look for ads that make the boat look good. Those ads should tell you what your ad should look like too. A crappy picture on the web with a 25 word essay won''t sell your boat any time soon. Nobaody cares that much about an old boat. You need to show people how good it is with pictures and words. It helps if it all true so they won''t get mad and walk away when they do come out to actually see it too.
Look for as many ads about boats just like yours as you can too. You can start to see what they sell for. Lokk for boats a bit better and a bit worse than yours so you can be sure where your boat should seel for.
You don''t have to mislead people to promote your boat. The more compelte you make the ad the more honest you appear to be. If the engine is blown don''t say it needs a little work, say it is totally shot. You can never negotiate with someone that feels you are cheating them. Find all the good things to help balance the short comings.
You need to be ready to show the boat and be there to answer questions too. You have to do all the things it takes to show a boat and do them promptly. If you live 3 hours from where you keep the boat just how will you show it?
Best way to sell????
Good advise from pblais.
When someone is seriously in the market to purchase a boat, will look around but inevitably will contact a broker. There is where the boats for sale are!!
Those guys earn their money from the knowledge of the market.
Moreover, is easier for them to defend your selling price than for you.
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