Brokers get a lot of heat these days....the good, the bad and the ugly....
The 10% brokerage fee is often touted as the big "turn off" when listing with a broker...but the actual broker selling the boat
does not get that 10%......the " house" takes the big slice, typically 5%, and if the broker has to share the commission with another broker (very common with MLS listings), his commission gets cut in half again...so he might be lucky to walk away with 2.5%.....a far cry from the 10%.......so his motivation to sell a boat depends very much on a variety of reasons. If he has to drive a long way to show a boat for only 2.5% commission, knowing beforehand he is dealing with a tire kicker
, his reluctance is understandable.
Setting a reasonable "selling" price
for your boat is the big question. Most sellers, anticipating the 10% fee, tend to add this to their asking price
...with the result the boat sits on the market for a very long time.
I've tried both routes, and after having to deal with the umpteenth tire kicker wasting my time, elected to go the broker route
. You can recognize a tire kicker as they walk down the dock
and you'll know right away to get them off the boat as soon as you can before they waste your entire day.
But, the bottom line is the same. An appropriate selling price and clean boat is key.
That's the problem, most boats for sale
, are just left to languish at a marina, with the owner far away. The broker is not going to clean the boat for you, that is up to you.
A prospective buyer has the option of looking at many boats in your size and price range, so to make yours stick out is the key.
One advantage a broker will have over an " owner" selling his boat, is his ability to access other similarly listed boats, the year, condition, etc, their " ask" price and their " selling" price, when they were sold, how long they were on the market, etc....this is often a hard pill to swallow, as a broker will tell you right away" look here, this is what these boats are selling for" dashing your hopes right off the bat, prompting you to consider selling the boat yourself...
But you could easily " waste" an entire year trying to sell your own boat...in the meantime, your dockage, insurance
and likely boat payment do not stop.
If you are making boat payments, there is the very real chance you will be " underwater", ie, your boat is worth less than what you still owe as time drags on...and YOU will have to bring $$ to the closing table.
Think wisely, before selecting your options.