Shopping for a Broker

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As one begins their journey in the world of yacht ownership or charter, it is easy to let the search for a boat lead you from website to website and place to place all on the quest to find the ultimate yacht. There is an alternative available to you that will allow you to make the best possible choice without putting in countless hours of time and being misled by inaccurate information – shop for a broker first and then a yacht!

As a client looking to purchase or charter a yacht, your goal is to become educated on the market, locate a good value, and successfully conclude your purchase. Establishing a relationship with an experienced broker who is associated with a respected, full-service brokerage house will facilitate this process. As your representative, a skilled broker can call upon years of experience and various resources to provide you with the most current and relevant information as it applies to your needs.

A broker’s business is yachts. His success depends on repeat customers – a true testament to a client’s satisfaction with their broker. Therefore brokers must put their client’s interests first and guide them to the correct end result. Clients can take great comfort knowing their interests are being looked after; the transaction and personal details are kept confidential. They have the full backing of the brokerage house to help out with the many details surrounding the purchase of a vessel and after sales service.

When you select a broker, here are a few things to keep in mind:

The reputation of the broker. A respected broker will have established a network of industry professionals that will enable him to obtain information not readily available to the public, recommend the best team to get onboard and evaluate the yacht, and receive the highest level of co-operation from other brokers.

Experience. With the yachting industry growing more diverse, it is important that your broker’s experience pertains to the area of the market that interests you most.

Personality. Each broker has a unique way of conducting business. Some may be casual, and others are very formal. What is important is that you are comfortable with the way your broker communicates with you and handles business on your behalf.

The brokerage house. With the megayacht market continuously developing and changing, the process of yacht ownership has become more intricate and regulated. A brokerage house that offers the full array of yachting services such as yacht management, charter and crew placement will help make a client’s transition from buyer to owner much easier. Each brokerage house also carries a reputation that can affect the way an offer is perceived by the seller, despite who your broker is. Business handled by a broker affiliated with a distinguished brokerage house will be valued with a higher regard.

Once you found a broker who satisfies these criteria these things for you, don’t let him or her getaway! You are on your way to enjoying a long term relationship that will most certainly benefit both parties.

Steve Doyle, President