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Old 09-20-2013, 05:13 PM   #1
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Yachtworld listing fees.

I don’t post here very often, but I was hoping someone could tell me what a boat broker pays to post a listing on Yachtworld?

Thanks
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Old 09-20-2013, 05:35 PM   #2
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Just curious, why does that matter?
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Old 09-20-2013, 06:51 PM   #3
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It's something I've wondered about as well. Just out of curiosity I suppose, but some brokers taut their listings as a big deal, others as a distraction to their own brokerage sites. I'm sure we have some brokers on here. Is it a subscription service with unlimited listings or is it a per listing setup?

An idea of cost perhaps?
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Old 09-20-2013, 07:14 PM   #4
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Interesting! Just for the heck of it... I'd like to learn about Yachtworld’s charging method too.

Some boats have been listed for years as well as some of the long listed boats being simultaneously listed by more than one broker. And, the long listed boats’ picts as well as the in-depth description usually stay the same over the years; now... you and I know that each long listed boat’s condition must have changed – for better or for worse!

Can a private seller list on YW? If so... how much $$$$ is required?

Inquiring boater-minds want to know!

OK, TF members... who may be broker boys and girls - what's the straight poop on YW???

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Old 09-20-2013, 07:28 PM   #5
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I'm sure it's about the same as belonging to a real estate MLS. We pay about $5K for each one we belong to, which is 2.

This doesn't include individual agent fees.

But it doesn't appear that Yachtworld sells your listings to other brokers like realtor.com does. They are whores.
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Old 09-20-2013, 09:27 PM   #6
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Just curious, why does that matter?

I've been chatting with several yacht brokers lately. They have all told me about what a large amount of overhead they have. Since sellers pay for moorage and regular maintenance, I'm trying to figure out where this "large overhead" comes from. Yachtworld seems quite secretive as far as rates are concerned. In my experience the better the grasp of the numbers involved, the better a negotiator you are.
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Old 09-20-2013, 09:35 PM   #7
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Great questions. I currently have my boat listed with a broker. I'm having a lot of trouble with 10% to sell a boat for $500,000. He does post on Yachtworld. How much does it cost?
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Old 09-21-2013, 01:29 AM   #8
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If no one knows, it says you can`t you put a FSBO advt on YW, it`s broker only. Otherwise you`d get a price from YW.
Both major Oz sites take FSBO adverts, as well as brokers. As they should. Not everyone wants a broker, buying or selling.
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Old 09-21-2013, 02:11 AM   #9
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The boat I looked at in Seattle was listed by the Boastshed, and they collected slip fees from the client while it was in their listing, but no other fees unless the boat sold and they got their commission. I got the impression that the brokers buy a "slot" of advertising space and rotate the listings through "their" allotted advertising space. I believe the slips are discounted for the brokerage, and I know they sometimes discount their brokerage fees well below 10%.
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Old 09-21-2013, 10:04 AM   #10
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I'm not a boat owner but I am going to be in the market in the next 6 mos. which is why I'm watching the listings now. What sources are there other than YW and BoatTrader.com and a few mags like PassageMaker and Soundings for listings?

I can certainly understand a seller's hesitance in paying a 10% commission but what are their options?

One boat I was looking at was listed by 3 brokers that I knew about, is that common?
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Old 09-21-2013, 10:17 AM   #11
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Interesting! Just for the heck of it... I'd like to learn about Yachtworldís charging method too.
We know or get quotes from engine & hull surveyors, vendors for all sorts of work being done on our boats, the cost of an ad if we decide to sell by owner....why not YW?
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Old 09-21-2013, 10:30 AM   #12
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I'm not a boat owner but I am going to be in the market in the next 6 mos. which is why I'm watching the listings now. What sources are there other than YW and BoatTrader.com and a few mags like PassageMaker and Soundings for listings?

I can certainly understand a seller's hesitance in paying a 10% commission but what are their options?

One boat I was looking at was listed by 3 brokers that I knew about, is that common?
Hi guy!

Besides YW and BT there is Craigslist (CL) for mostly private sales (FSBO) and some broker sales... sometimes termed BS - LOL!! CL gives you option as to which you desire to see... both at same time if you like! Depending on the CL city/town/region you punch up will provide you many different types and styles of boat choices; as well as price variations.

CL is worldwide for sales ads. Some dealers and owners I've spoken with are very needing to sell specific boats, especially those that have lingered on the market for one reason or another. Some buyers (you???) will travel to see a boat and have it surveyed there as long as they have pre travel commitment from the seller to the buyer's offered price that includes deductions for wet or dry transport costs. For used boats this is still pretty much a buyers’ market, IMO...

I've seen plenty of boats listed under more than one broker. Seems to me it is marine equivalent of land based multiple listing (MLS), however much reduced in its completeness and inventiveness and effectiveness.

Good Luck! Happy Boating Daze!!
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Old 09-21-2013, 11:25 AM   #13
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Yachtworld charges a few hundred dollars per month for their standard basket of services. Banner ads, etc, run a little more. That one flat fee covers a broker's entire inventory, whether the firm has one listing or a couple of hundred. If you wanted to break it down on a per boat basis, for most brokers it's probably about $10-15 per month per boat, depending on the number of boats in inventory.

If you are looking for a broker to represent your boat, ask him or her what *else* they do to look for a buyer besides put a boat in the Yachtworld MLS. Every broker uses Yachtworld, so if the answer is, "Nothing, we just put it out on Yachtworld and wait for something to happen" you might want to consider whether or not your boat is getting any extra attention from that broker.
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Old 09-21-2013, 11:57 AM   #14
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Great questions. I currently have my boat listed with a broker. I'm having a lot of trouble with 10% to sell a boat for $500,000. He does post on Yachtworld. How much does it cost?
I worked as a broker for a number of years, and the 10% commission rate shouldn't be represented as something necessary to cover the expense of putting a boat on YW. One a per boat basis, YW is dirt cheap.

Typically, the primary benefit that a broker brings to a transaction is the effectiveness of third party negotiation. You would think it wouldn't be hard to negotiate a deal and keep it together without using a broker. After all, the seller wants to sell a boat and the buyer wants to buy a boat, so what could possibly go wrong?

What goes wrong is that both the buyer and the seller, just like everybody else in the world, hopes to leave the marketplace at the end of the day with more value than they brought in the morning. People can, and often do, react emotionally when somebody presents a less-than-full-price offer on a boat or asks the buyer to increase his or her bid. If the buyer and seller are eyeball to eyeball, sometimes they begin to take the negotiation personally and things break down.

That third party negotiation factor saves a *lot* of deals following survey. A good surveyor will find at least something on virtually every boat. Keeping the deal together following survey, working out equitable price adjustments or getting the seller to make some small repairs and keeping the buyer's expectations realistic can often be tougher than getting an initial agreement on price.

Sometimes, (not always), the seller will realize enough more money from the sale to offset the commission. Sometimes, (not always), the buyer will avoid a very bad situation created, deliberately or accidentally, by an inexperienced or even (once in a while) a dishonest seller. In most states, the brokers are regulated and must conform to certain legal standards in order to keep a business license. Brokers are normally required to keep deposits in escrow, so there are additional protections for both buyer and seller when it comes to handing over money in exchange for titles, etc.

Some brokers have studied to become CPYB, or certified professional yacht brokers. That's not an easy thing to achieve, and requires several years experience. That doesn't mean that there aren't some great brokers who have not bothered to become CPYB, (there are), but if you don't know one broker from another in your community the CPYB designation is one of several things to consider when choosing a broker.

Everybody can tell a first, second, or third-hand story about a nightmare experience with a yacht broker; but those stories make the rounds and are of interest because they are unusual, rather than the norm. Don't be afraid to ask your prospective broker for a few references from satisfied clients. He of she should be able to give you some. That doesn't mean that *all* of his or her clients have always been satisfied, but if the references check out it indicates that at least some, if not most, clients have been.
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Old 09-21-2013, 12:25 PM   #15
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When negotiations broke down on the boat I made an offer on, I kept the broker since he negotiated in good faith and I respected him, and we moved on a boat on the East coast. The brokerages split the commission by some formula known only to them. I understand the owner of the vessel we couldn't come to terms on wanted a "further" reduction on the commission for the sale of his vessel, which was 8% rather than 10%. Multiple listings probably result in split commissions...
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Old 09-21-2013, 01:32 PM   #16
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IMO, most yacht brokers probably work harder than real estate agents. When people are making a huge purchase on something that is going to depreciate in value not increase like real estate, they are more inclined to kick a lot more tires. Most real estate commissions are around 6-7%. Therefore, I think 10% is not unreasonable. I imagine it is very difficult to sell a trawler of any value on your own. Do you want to meet every tire kicker on Saturday or Sunday at the docks? I doubt it. This is just a small part of what they do, necessary evil? I say just necessary? So, I wouldn't worry about what they pay, in the long run it is the quality and upkeep of your boat that helps it sell. Long story short, take care of your boat and make the broker's job easier.
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Old 09-21-2013, 02:32 PM   #17
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Over the decades, I've sold boats I owned myself. Unless you clearly qualify the "potential" purchaser on the phone before showing... it becomes a real BIG PITA!

As mentioned in a post above - be sure to have your boat in tip top shape before showing... that rather simple to accomplish "Bling-Factor" really helps sell it!

Whether your boat is All Blinged Up, Clean and Looken Purty - or maybe looking like a piece of crap - price it accordingly and attractively compared to market conditions. Then be willing to negotiate, negotiate, and negotiate!

I love personal ads on CL that say: "This is my firm price. With improvements as I accomplish them the price will go up!" Now there's a great way for the seller to waste their ad and personal time - LOL I even saw one that said: "This is a great price for my boat. I will increase the price each week until it reaches this boat's true value! I advise you come see it now while I still hold the price down." - LMAO!!!

If a pre qualified buyer wants to go for a ride on your boat while first looking... say sure, I'd be happy to take you on a ride... for $100 cash I will take you out for an hour cruise. That can be deducted off our agreed to price if you decide to purchase. Otherwise you and I can now agree to a purchase price and you put down 5% in an escrow account of mine.

Those are some of the ways to separate the wheat from the chaff in the boat sales market. There are many more ways too. Most qualifying sequences can be accomplished over the phone. Then when you show the boat you can feel pretty sure the looker is serious about purchasing a boat - and - if your work it correctly their purchase just might be YOUR Boat!

Brokers are dime a dozen... some great, some good, some not so good, and some a piece of trash. The really great ones are pretty easy to tell... they KNOW of what they speak and stay in communication at every level, as well as, being honest in all they say!

Happy Boating Daze!
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Old 09-21-2013, 02:57 PM   #18
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Great approach.
If a pre qualified buyer wants to go for a ride on your boat while first looking... say sure, I'd be happy to take you on a ride... for $100 cash I will take you out for an hour cruise. That can be deducted off our agreed to price if you decide to purchase.
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Old 09-21-2013, 06:52 PM   #19
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IMO, most yacht brokers probably work harder than real estate agents. When people are making a huge purchase on something that is going to depreciate in value not increase like real estate, they are more inclined to kick a lot more tires. Most real estate commissions are around 6-7%. Therefore, I think 10% is not unreasonable. I imagine it is very difficult to sell a trawler of any value on your own. Do you want to meet every tire kicker on Saturday or Sunday at the docks? I doubt it. This is just a small part of what they do, necessary evil? I say just necessary? So, I wouldn't worry about what they pay, in the long run it is the quality and upkeep of your boat that helps it sell. Long story short, take care of your boat and make the broker's job easier.
Lately I have had several discussions with local brokers, who in no uncertain terms told me if I asked for a discounted commission the boat would not sell because other brokers would steer their clients away. I had to laugh, however, because everyone of these guy was still willing to represent me. I firmly have come to believe as consumers of broker services we have to not be intimidated and negotiate, negotiate, negotiate. The more information we have about the dollar and cents involved, the better off we are.

I also have to ask this question: If a broker is worth 10%, why is he willing to split his commission with another broker and take 5%? Iím pretty sure most of these guys would balk at the idea of going to 5% on a single broker sale. Surely they are not taking less then they are worth. Lets face it, these guy donít have enough skin in the game to be worth 10%. Itís our money -- letís keep more of it, both buyers and sellers, especially since itís the boat that sells itself.
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Old 09-21-2013, 08:14 PM   #20
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Lets face it, these guy don’t have enough skin in the game to be worth 10%. It’s our money -- let’s keep more of it, both buyers and sellers, especially since it’s the boat that sells itself.
Just curious. Did you represent yourself when buying your boat or use a brokers services?
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