Brokers' Commission

richardbrennan

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Unfortunately the time has come to put my boat up for sale. The broker I have been speaking to is proposing a commission of 6% plus VAT, is the going rate?
 

Tranona

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Mid point. Many of the larger ones is 8% and some on line ones are 5%. Times are tough for brokers as there is so little for sale and restrictions limit number of buyers. Hopefully that will ease in a few weeks' time.
 

Stemar

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If you're prepared to do the legwork and fend off tyre kickers yourself, Apollo Duck or Boatshed will likely be a good bit cheaper. Google Bill of Sale UK for the necessary paperwork, which isn't much.

Possibly better for older boats than newer top of the range jobs, but have a nose round the sites to see how yours would fit in.

At the risk of giving egg-sucking lessons, the best thing you can do to help the sale is to declutter the boat and get it spotless.
 

Quandary

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Brokers tend to have access to information that the ordinary seller does not reach. Particulary, a comprehensive record of what similar boats are selling for world wide. Not asking prices, but sale achieved. Often they have knowledge of potential buyers looking for a particular boat. This can mean that you achieve a better price and a faster sale which goes some way to cover the commission. Agree though that it works better for the more expensive models.
When we sold one of our Sigmas, of course the broker told us what a hard job it would be, the buyer later told us that he had listed a desire for the boat with him months before ours went on the market.
 

Fimacca

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Brokers are sharks ! There a few good ones about.
But the marketing is better and they may get you more for you boat. The tyre kicking dreamers were annoying.
Great time to sell, very little decent stuff on the uk market....so prices I saw are climbing strangely. POA on some popular models over 35 feet.
I sold mine within 10 days
After checking the market over the winter I bought another through a broker (it was on market for 2 days) but had to fight to see it in the flesh and had to offer the same day to get it subject to survey - as there were 4 other viewers the following days !
 

richardbrennan

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Thanks for the speedy comments.

The broker has a very good reputation locally, so 6% would seem reasonable, I don't really want the hassle of selling it myself.
 

richardbrennan

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It's a Westerly Ocean 33 and I have gone ahead and listed it with the broker. Interestingly her advice about clearing everything out does not match that given by some here. For instance, I have four tube heaters on board which she advises me to leave as it demonstrates my care for the boat. She also thinks that glasses, plates and cutlery etc. would be of interest to many potential buyers.
 

ashtead

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If make the broker specialises in certain adds a Lott. I think the % rather turns on value of vessel -6% of a centaur value seems little whereas Berthon selling a Spirit might charge more like 8% but spend more time on deal I guess. Personally having used one broker to sell a Bavaria I was very happy with service and price.
 

ithet

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It's a Westerly Ocean 33 and I have gone ahead and listed it with the broker. Interestingly her advice about clearing everything out does not match that given by some here. For instance, I have four tube heaters on board which she advises me to leave as it demonstrates my care for the boat. She also thinks that glasses, plates and cutlery etc. would be of interest to many potential buyers.

I think what has been suggested is removing junk not clearing out completly. Leaving accessories and gear on board that will be part of the sale is a good thing. When I sold my boat I made it clear that whatever was on the boat was part of the 'deal' ("what you see is what you get"). I offered the boat as a complete ready to use 'package' (including crockery, cutlery, cookware etc. and fenders and lines). I had removed anything personal and that I was not selling. However, I would think tube heaters would be a reasonable exception if pointed out. But everything should be left meticulously clean and tidy.
 

Stemar

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When I talked about decluttering, I meant getting rid of the junk and half-broken stuff that we tend to accumulate. I've seen too many sale photos of boats that look as though the owners walked off without even doing the dishes from their last trip, but of course, you'd never do that :)

When we bought our boat, she had everything, right down down to the tea towels and we were glad to have it all - just add food!
 

richardbrennan

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I obviously thought of using the WOA website, but decided I did not want the hassle of a private sale, arguably a broker may also get a better price. The boat is in excellent condition and the broker assures me I will have no trouble finding a buyer.

Thanks again for all the comments.
 

Solent Sailor

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Good luck with the sale. Personally, I've always rather enjoyed the process of buying and selling boats and have yet to have to resort to using a broker to sell one. Perhaps I'm just odd - but I can't help but think anyone knows the boat better than me, nor is able to give a genuine impression of it. Of course, you may hate the horrid old thing and want shot, in which case someone who can paint a picture of the buyers' idyll could be useful. I think you'll do well either way, and that this season will be a bumper one for vendors.
 

Sea Devil

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Part of what you get with a broker is a sense of security for the buyer. The last boat I sold myself the buyer was loath to give me a deposit... Because he did not feel 100% certain that he would get it back if the survey was not satisfactory - I let him survey without a deposit ... but then he wanted it delivered from La Rochelle to Plymouth and I was not prepared to do that without full payment... Deposit then paperwork then remainder on legal transfer.
When I sold my last boat I used the same broker I had purchased it from - Ancasta Marine. They took care of all VAT issues, legal paperwork, accompanied the buyers on viewings, on survey on trial sail and we negotiated a price everyone was comfortable with. When I purchased my latest boat - by chance also via Ancasta I felt very comfortable handing over the deposit, checking the VAT stuff was OK and getting her part 1 registered. I felt they acted as 'honest broker' between me and the vendor who I never actually met...
I have been a freelance person all my life and paid my theatrical agents 10% so 6% on boats seems reasonable
 
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