What Is A Yacht Expert?
With today’s advancements in digital marketing, anyone can claim they are an expert and appear to look the part. Peruse your favorite yacht website online and you will be inundated with ads from different companies claiming to be experts in sportfishing yachts, motor yachts, trawlers, and anything else you might be interested in. If you want to buy it, chances are there is an ad running saying they are an expert. The use of the yacht MLS system can make even the smallest of brokerage firms look like a much larger operation online. But how are you able to really discern the true experts from the ‘smoke and mirrors’ yacht brokerage?
Selecting the right brokerage firm when you go to sell your yacht or enlisting the help of an expert broker when purchasing one can make your experience more enjoyable and successful. Doing a bit of homework in evaluating which firm to choose can mean the difference in your yacht selling on the market quickly and for a higher price. But what should the everyday yacht buyer look for when trying to decide the experts from the amateurs? Consider these points when going through your research:
How long has the brokerage firm and the broker been in the industry?
There is a famous quote about the definition of an expert that says, “An expert is a man who has made all the mistakes which can be made, in a narrow field.” When selling any yacht, even a small error in paperwork or judgement can ruin a deal and potentially cost the owner money. HMY Yachts has been a successful yacht brokerage firm for over 35 years and all of the brokers that come to work here have spent a considerable amount of time in the industry becoming experts. The average age of our sales team is 48 years old with the average tenure being over 20 years. Browse our broker profiles and look at how many of our team have been captains, builders, owners, and brokers in the industry for years giving us the most experienced team possible..
Ask to see what yachts the broker has recently sold.
Have you ever received mail from a broker showing all of the boats that recently sold in the market? To the average consumer it can look like that broker was responsible for selling all of those boats. Nothing could be further from the truth in many cases and were likely sold by other firms in the area. It is also important to pay attention to the quality of the listings when evaluating a broker. Are they listing late model yachts with low hours and a clean history? HMY Yachts publishes sold boat ads in Yachting and Power and Motor Yacht magazines every month showing the latest listings sold and currently on the market. Always ask the “expert” broker to see a recent list of the yachts the firm has recently sold.
Compare how brokerage firms show up at major boat shows.
Successful brokerage firms that have been in business awhile have the financial means to show up at the largest (and most expensive) boat shows in the world with a great presence. The Ft. Lauderdale, Miami, and Palm Beach Boat Shows are arguably the largest boat shows on the planet and cost a considerable amount of money for the display area and every single slip that is rented out. They are also on of the most lucrative trade shows when it comes to sales. You can tell a lot about the success and expertise of a brokerage firm by how they present themselves at a boat show. At the recent 2015 Fort Lauderdale Boat Show, HMY Yachts had 8 displays and over 80 yachts available on site.
How well can they afford to advertise?
A tell-tale sign of a successful brokerage is the means to advertise heavily and strategically. If the broker and firm are truly experts, then you should expect a comprehensive marketing plan including a state-of-the-art website, strong print advertising in major magazines, planned sales events, full-scale digital marketing, direct mail and email, and the above mentioned boat shows. HMY Yachts prides itself on being the top advertiser with PMY and Yachting magazines, as well as having a significant presence on websites like Yachtworld.com, Google, social media, and more. There is no other brokerage firm in the world with the level of advertising for our customers than HMY.
What kind of support staff do they have?
Successful brokerage firms have a well-trained staff to support their brokers through the entire sales process. Smaller firms that can’t afford to hire support staff rely on their brokers to complete the closing process which often times leads to mistakes. This can delay the closing of your yacht and could potentially cost a sale. Every broker at HMY has a dedicated administrative assistant that is highly trained in the closing process and closing tools like Yacht Closer to ensure that every transaction is a smooth on.
For more information on what makes HMY a true expert in selling your yacht, visit our Why List With HMY page.