Choosing a Brokerage That has Your Best Interest in Mind
At Paradise Yachts, we are an independent brokerage that sells used boats and yachts and repossessed boats only. We don't deal with new boats which would create a conflict of interest. We specialize in providing you and your boat, personal service. I generally travel from central Florida to South Carolina to help customers market their boats, but I'll travel anywhere for the right boat.
When choosing your brokerage, ask how they co-broker with other yacht brokers that have a buyer. We have witnessed time and again, brokers refusing to do business with us when we had a potential buyer for a boat. Why did that happen? It was because the listing broker was more concerned about his commission than selling his customer’s boat. At Paradise Yachts, the customer, you, come first. I have your best interest in mind!
Another factor you may wish to consider is how accessible is your broker going to be with buyers? As I write this sentence I made a call to another broker at about 9:00 AM this morning. I am trying to submit an offer for a buyer. I did not hear back from the broker until the next day! In nut shell, there must be a bunch of lazy Yacht Brokers out there, not too concerned about their customers. My phone and computer is on from 6 AM - 6 PM; you can reach me if you need too; so can buyers!
Sellers Boat Disclosure
As part of my marketing campaign, I feel it critical to disclosure to potential buyers about the true condition of your boat. It will come up in survey so why not put all the cards on the table? I'll ask you to complete and certify in writing, using a Seller's Boat Disclosure, about the condition of her hull, electronics, decks, plumbing, machinery etc. to the best of your knowledge. I'll use this as a positive marketing advantage as it will tell buyers that your boat is as good as we advertise it to be. No other broker in the US does this at this time. I have buyers that find this a true reflection of the seller's honesty.
Determining a Fair Asking Price
To ensure a timely sale, it is essential to ask a fair price. We help you establish fair-market value for your boat through access to actual sold boat data found in data sources not available to the public. If you call any used car dealer or bank in North America and name any production automobile, they will quote a value of within a few dollars of each other. This is due to the multi-billion dollar, organized wholesale car auction system. With over 2,200 boat manufacturers (USCG Listings) in North America there is no such market for boats and the older a boat gets the bigger the price discrepancies. A boat is only worth what you are willing to take and a buyer is willing to give. I research what the boat you are selling has been bringing to help you arrive at a fair price.
Marketing of Your Boat
It's a known fact that today's boat buyers shop the Internet almost exclusively for their boats. Paradise Yachts has found that the majority of its sales leads come from Internet promotions. Marketing is all about exposure of your boat to the greatest number of potential buyers. Therefore, Paradise Yachts has aligned itself as a subsidiary of World Class Yacht Sales, Inc. from Tarpon Springs,Florida. World Class Yacht Sales has assembled what is likely the most successful marketing campaign in the industry.
With perhaps the largest advertising budget in the business, we utilize over 42 retail boating websites to drive buyers to your boat. Here is a sample of some of the better known websites that we use.
This website that you are viewing today is on over 200 marine directories. It has been indexed by all of the major search engines including Google,Yahoo, Dogpile and others. Approximately 35% of our visitors reach us through a search engine. This Paradise Yachts website has almost as many visitors monthly as the World Class Yachtworld website, confirming our intense internet optimization process . Do you know that we have dozens of daily visitors from countries such as Australia, Norway, Canada, France, Finland, and Germany on this website, just to name a few? They are all looking for boats; maybe yours could be one of them?
If you view one of our presentations here at this website, you will see boats with large, clear photographs and detailed descriptions. Do other brokers use this level of marketing?
We also build dedicated websites for select customer's boats. No other brokerage in the US currently does this other than Paradise Yachts. Call and ask us if your boat qualifies. To view a sample of how yours might look, go to Website Example
We also use email marketing to hundreds of prospective buyers. We keep those buyers up to date on new listings and any prices changes.
How effective is this marketing approach? In 2007, 137 yachts, representing almost 5% of the total Florida brokerage market, were sold. Over 50% of sold vessels were to out-of-state buyers, and 23 of those were sold to out-of-country buyers.
Preparing the Boat - Dock Appeal
In boat buying, first impressions can make all the difference. We call it dock appeal. You want your boat to look factory fresh when she is ready for the market. We will advise you of any improvements that should be made to compete within today's market, identify possible problems and solutions, and help organize upgrades & repairs if necessary.
And unlike other brokerages, we don’t ask you to bring your boat to our marina to make showing your boat easy for us. We come to you.
Professional Know-How
As a professional broker, we understand the principles of the brokerage profession - such as certificates of ownership, bills of sale and other documents needed to register and transfer titles to boats. We understand maritime liens for the type of vessels we represent, as well as mortgaging and transferring title to documented vessels. We understand agency contracts, listing agreements, closing statements, deposit requirements and escrowed accounts to safeguard funds.
Sea Trial and Survey
The buyer will usually request a sea trial and the services of a marine surveyor. Buyers pay for the surveys and for hauling the boat out of the water for inspection. We will attend the sea trial and marine survey to help you determine how any discovered deficiencies should be addressed in the purchase negotiations.
Summary - Paradise Yachts Provides Value to its Customers
The reasons you should choose Paradise Yachts to represent you and your boat are:
- Personal Service - We strive to treat you as a friend, rather than just another number. We go out of our way to help you "Get the Results You Want"
- Customer First - Our goal is to sell your boat, not get the commission. We have your best interests in mind. We'll never turn away a prospective buyer because of our own personal wants.
- Communication - As we market your boat, we’ll keep in you informed of the interest we’re seeing. You’ll hear from us regularly. We want you to know we’re working for you!
- Convenience - Your boat stays where you wish to keep it. We come to you. We don't ask you to bring it to our marina.
- Marketing - With one of the largest advertising budgets in the industry, we get your boat out for the public to see. In addition, Paradise Yachts is the only brokerage in the US to offer stand alone web sites for individual boats. We seek out buyers rather than simply waiting for them to find us.
- Product Focus - We only sell used boats and yachts. A new yacht inventory is a conflict of interest taking our time away from your boat.
Sellers Frequently Asked Questions and Answers
Why should I choose Paradise Yachts to market my yacht?
1) As explained in detail above, I place a higher priority on selling your boat than I do on my commission. 2) I am associated with perhaps the best marketing program in the industry which drives sales. There is no other brokerage out there that can provide your yacht with more exposure to potential buyers. I'm very aggressive in my marketing of your boat.
My boat is not in Florida; how would you market my boat?
Out of state boats are not a problem. I have boats in Florida, Georgia and South Carolina at the moment. I travel to these boats regularly. We can also do some creative marketing where I do all of the advertising and you show your own boat for a reduced sales commission. Give me a call and we can further discuss it.
When will my boat sell?
If your boat is priced right, presented well and is in an easy to show location, then it should sell within 90 Days to 9 months, with 6 months being the average. The biggest single cause for a boat not selling is over pricing. Placing an asking price too high, even if you will take less, will only keep buyers from stopping to take a look.
How do you keep me informed of my boats selling progress?
About every month, I compare your boat to what's on the market, what has recently sold, how much comparable boats are selling for, how many visitors are looking at your boat on the website, and where I think we need to be price-wise to attract a buyer. I usually send it to you via email.
How will my yacht be advertised?
We have found that today's boat buyer is very Internet savvy. About 98% of yachts sold today are done so by using Internet leads. We will feature your yacht on this website, and the many other websites we maintain. We also do email marketing to identified buyers as well, keeping potential customers updated on your yacht and any price changes. In addition to our regular websites, more expensive yachts will also be featured in locations such as the Dupont Registry.
I think my yacht deserves its own website to help in her sale. Do I have to pay to have that developed?
No, the development of the website is done at our expense. We devote the time and money to have a professional site completed, displaying your yacht to its fullest.
What is the cost to sell my yacht?
The standard commission is 10% of the gross selling price of the vessel. We are agreeable to a reduced percentage rate under certain conditions. Call us and we can discuss the details with you.
What is the selling tri-fecta? (Price, Location, Condition)
Real estate brokers say "Location, Location, and Location." For yacht sales, location is only one part of the equation. Price and condition are often more important than location. After all, boats are moveable property and we know how to get them where they are wanted.
Can potential buyers operate my boat just by asking?
No, a sea trial is not performed until after a deposit has been secured.
Are you required to be licensed and bonded? Are you ethical?
Yes, I am licensed and bonded. Florida and California are the only two states requiring licensing of Yacht Brokers. I've had extensive background checks done on me by the State of Florida, evaluating my past business practices.
I want to use my yacht over the weekend. Is that possible?
Absolutely. I encourage you to use your boat; it keeps all systems running well and after all, she's yours. Unlike some brokers, I don't ask you to bring your boat to my marina to make it easy for me, I come to you. Just be sure to leave her in ship-shape condition, ready for a showing when you are done with her.
How does the Sellers Boat Disclosure help me sell my boat?
First and foremost, it lets the buyer know that you stand behind what you are selling. It eliminates the guessing game often played in the boat buying market. Buyers are usually suspicious to begin with when buying a boat as they don't know if they are being told the truth many times. This process will assure them that you as the owner, are being up front.
Will telling the truth on the Sellers Boat Disclosure hurt the selling of my boat
No, if the truth is discovered during the survey and it was significant, it will be hard to overcome by the buyer and he will likely walk away. Providing accurate information to the buyer even if it appears to be bad news about the boat will not prevent a sale, it will only enhance it. I have buyers that will not consider a boat until I have obtained this information from other brokers and sellers.
If you have a question that I have not addressed, drop me an email and I'll give you an answer.
