Based upon our years in the brokerage business and experience in assisting both buyers and sellers, we offer the following helpful hints for people who want to buy or sell a boat.
- Select a yacht broker who is experienced, knowledgeable and trustworthy.
You may believe you are capable off searching for your next boat without a professional broker’s assistance. And that may, in fact, be true.
However, at no cost to you (since the brokerage commission is paid by the seller), Alaska Boat Brokers, which is well-versed in the ever changing market conditions, provides knowledge, resources, and advise to aid you in the search and purchase process. Alaska Boat Brokers has access to far more information than our clients. We will be able to quickly identify boats all over the world that are for sale. We have access to the sold price of used boats, which we will use to help determine current fair market values. And, we maintain a network of contacts with other professional brokers and marine professionals so we can quickly and easily obtain current market information.
Alaska Boat Brokers will provide you with recommendations for marine lenders, accredited surveyors, insurance agents, and professional trades people when you acquire your new boat. We are familiar with the entire selling and purchase process and will represent you, the buyer, to assure you the buying process is completed correctly, quickly, and ethically.
Trust in your broker is essential. Be certain you are comfortable working with your broker and accepting his or her advice. Only work with a broker who demonstrates an excellent knowledge of the type of boat that you are interested in purchasing.
- Identify your wants and needs and what you like & dislike about the many boats available on the market.
Be sure to communicate effectively with your Alaska Boat Brokers Inc broker. Make a list of all of the “must haves”, “wants”, and “nice to haves” for your next boat. Tell your broker about the boats you like. Explain, in detail, why you like some boat and not others. Attempt to prioritize your wants and needs.
Buying a boat is a process. As you review vessels in the market, expect your wants and need to evolve into a clearer understanding. Talk with your Alaska Boat Brokers broker about each vessel you look at and tell him or her what you liked and disliked about each boat. This will help you and your broker develop a better understanding of exactly what you want in your next boat.
As you narrow down your search, take notes on each boat and see how they compare to your original “essentials” list. It may help you to put together a written list of what you like or dislike about each vessel. Use these lists to compare choices and make a final decision.
- Do not buy the first boat that puts a sparkle in your eye!
Many people rush into buying the first boat they feel will fit their needs. Take your time. Remember, boat buying is a process. Your definition of the “perfect” boat will evolve as you conduct a search. Give yourself adequate time to understand your needs and wants and to make an appropriate choice.
Utilize internet resources and personal recommendations to learn more about boats in the market place. Use the internet to research boats that appeal to you. Seek opinions from chat rooms. Talk with people who own or have owned the boat you are considering. Listen to their perceived pros and cons and seek their knowledge and advice. Take advantage of your Alaska Boat Brokers broker’s knowledge of many brands and models of boats. Do not get caught up in glossy advertising that may exaggerate the benefits of a specific boat!
Remember, there is no perfect boat. All boats are compromises. The most obvious compromise is size versus cost. Seek your broker’s advice regarding compromises. As you proceed through the buying process, you will begin to understand the compromises that best serve you.
Don’t take the boat buying process to the extreme and spend years chasing the “perfect” boat. Once you have determined what you truly seek in a boat, be prepared to make an offer. Seek your broker’s opinions and advice. Let your Alaska Boat Broker broker assist you in determining a fair market value. Offer a fair price to the seller when you find the “perfect” boat for you.
- Always personally inspect a boat before purchasing.
Do not buy a boat based only on photos online or in an advertisement. It is impossible to see all of the details through photographs. If the boat is out of your region and you elect to not personally view the boat prior to making an offer, make your offer contingent on your personal inspection.
If, for some reason, you cannot personally inspect the boat, select a trusted friend who understands you and has expert knowledge to conduct an inspection on your behalf. Then have a long conversation with them before purchasing the vessel.
If the boat is over 20 feet, a pre-closing survey by a qualified surveyor should be completed on the boat after you have an accepted written purchase agreement. Protect yourself from potential financial losses and emotional headaches resulting from hidden defects. It is far wiser to spend a little money for a professional survey than to close the transaction and then learn your next boat needs thousands of dollars in repairs.