So tired of Yacht Brokers

[River Song]

My beautiful 1988 Grand Banks 36 has been listed for 6 months with a broker and the 6-month listing agreement has expired. I offered to lower the price and she said not to but she only brought 2 potential buyers. We have put in new fuel tanks, and so much more below decks, and freshly varnished transom and rails, but this broker could do nothing. I hesitate to sign up with another broker. . . should I try to sell her myself? Her name is 1000 Miles from Nowhere (or as I refer to her "Miley"). Now Boat US is requiring a Condition and Valuation Survey, so I got one complete. Now they are knit-picking a survey that listed condition as "Above Average." I suspect they just don't want to insure her anymore. I just want to sell the boat, which is behind my house, so I can move off this expensive South Florida waterfront location. This is my husband's and my 7th boat, so I know the definition of a boat and just want to clear some of my expenses after the partial refit we did last year. Should I sign with another broker or post her info on this board?

 

[Frosty]

Ugh, that sounds frustrating.

As a person looking for a boat (various times in the past), I can't tell you how many brokers seemed to not really care. No returned communications, poor boat photos and missing data, etc. I would always think "I wonder what the seller would think if they knew a legit buyer was just being ignored or blown off." But I knew they would probably never know.

Of course there are good brokers but... alas it's not all of them.

Even if (as a seller) I wanted to keep my boat listed with a broker, I don't think I'd re-up with someone who has only brought two prospects in 6 months and also says not to lower the price. Not saying your price is high (I have no idea what it is) -- that may not even be the problem. But something isn't going great.

In any case, I say post your boat here! Maybe an hour's worth of effort on your part (presuming you already have photos) and it can't hurt.

1988 Grand Banks 36... nice boat

 

[twistedtree]

Try here. It can't hurt. Then at a minimum I'd find a different broker. Ask here on TF for suggestions on a good selling broker, but in a different thread. In fact, this whole thread will probably get moved since this category is for selling stuff, not for musing about it. But back to selling, consider a brokerage deal where the commission is reduced if you bring the buyer rather than them. Also do some research on pricing to see what you should be asking, if you haven't already.

 

[DDW]

My own observation of the current market is that boats are selling very slowly. I've seen a number of them sit that would have sold very quickly a couple of years ago. I agree with the idea of a reduced commission if you bring the buyer, and then marketing yourself. Often the broker's only value in a sale is a place to keep the boat, and being near it to show it on demand. Sounds like you need neither of those.

 

[Taras]

Couple of thoughts. How is the boat's current price vs. the BUC value? It needs to be priced at the market value. Also, you don't need to sign a contract with a broker as the "exclusive broker", you can list the boat with more than one broker.....its called an open listing. Lastly, you can list the boat on BoatTrader for a very reasonable fee. Good luck

 

[ksanders]

I think this whole issue related to money earned for effort expended on the part of brokers.

If... a listing agreement is 10% of the final price for the brokers commission.
Then the total on the table for a $100,000 boat is $10,000 potential commission
Split that with possible a buyers brokerage firm and you are down to $5,000
Split that again with the owner of your brokerage firm and you are at $2500

How much time can the broker afford to spend on that listing when there are other more popular than mid 80's 7 knot boats on the market.

Just my observations. nothing against your particular boat, it's just that brokers are working for food for their families, and they will spend their time on the higher commission boats or boats that sell faster.

 

[tiltrider1]

I do not currently have any magic answers. I have noticed the market has slowed greatly. I believe that sellers are currently in denial about how much boat prices have dropped. How much has it dropped? I don’t know. We are just about to enter the selling season and we will soon find out.

All the talk of tariffs and inflation has put the breaks on big ticket spending. Is this a momentary slowdown or are we headed into a multi year slowdown?

Currently, I am seeing a lot of inventory, even in the sub 10 year category, normally sub10 year boats sell with in a week of hitting the market, not right now.

If getting rid of the boat is the goal I would look for a broker who has a reputation of selling boats quickly at a bargain price., take the hit and move on. If you need the equity for financial reasons then look for a broker who specializes in your make of boat.

What you don’t want is a broker who uses your boat to attract business and then up sales the customer into a more expensive product for a better commission.

 

[O C Diver]

First, I would absolutely recommend advertising you boat on TF. Below is my listing and the boat went under contract in 6 days. Post lots of pictures, including the engine room. Post as much information as you can. Don't avoid problem areas or tired equipment as it only discourages people when they find out and wonder what other problems you haven't disclosed.

Regarding the current broker, the last 6 months have been through the winter and an election. Not sure when peak buying season is, but probably not the winter. I would also consider this an awkward time relative to the economy and tariffs. Buying big ticket items is certainly much better when things are more stable.

2002 Cherubini Independence 45, Fort Myers, FL $350K

Slow Hand, a 2002 Cherubini Independence 45, is offered for sale by owner (Ted Green). Purchased in 2014, she was refitted, repowered and painted in 2014 & 2015. Slow Hand refit She was extensively cruised from 2016 through 2023, including the Great Loop, Rideau canal, Trent Severn canal, Erie...

www.trawlerforum.com

Ted

 

[PhilPB]

Fwiw...I sold my boat at the end of last year. Advertised here on TF, Craigslist & Facebook Marketplace. I received the largest amount of interest from Craigslist and that is where the buyer came from. Facebook Marketplace received the 2nd most interested parties. I sold it in approximately 2 weeks. Granted, I was selling a 1983 Mainship 34 which has a different price point than. GB.

 

[CharlieO.]

Put together a listing here on TF.

We bought ours off of Facebook Marketplace, but as Phil noted it was a different price point than your Grand Banks.

 

[JackConnick]

Also FB has GB Owners Groups which can be helpful.

 

[Fleming]

Like the others have said, the market is softening and sales have slowed. I don't think it's your brokers fault, but I disagree with the broker on lowering the price. I saw your boat listing, the 1988 teak decks are a tough sell in FL even though all of your engine room improvements and new tanks add great value. I think you need to drop $20k off your asking to draw customers in. Just my opinion, no offense intended. Looks like a nice boat.

 

[Shrew]

Whatever you choose, I would make sure to...

1) Should you decide to end your contract with the listing broker, send a letter officially dissolving the relationship, and send it Certified Mail. Don't just rely on the dates of the contract to assume the contract is no longer in effect. Brokers have a tendency to come crawling out of the woodwork when you sell on your own. They'll make claims that you have to defend like "We had a contract, I want my 10%". Make sure there's not some auto-renewal unless you cancel the contract in the fine print.

2) Decide if you want to try to FSBO or go with another broker. Once you sign a contract, even if you sell the boat FSBO, the broker will come after you for their percentage.

3) Consider shorter terms with the next listing broker. 6 months is a long time.

 

[Judy at JWY]

In general I agree with much of the advice already offered. I concur with trying FSBO by posting here on TF if you are up for selling it yourself. I have had numerous owners call me after unsuccessfully dealing with a lot of flakes on Craigslist, FB, etc.

However, I disagree with a few of the comments. My response to a few: not many quality brokers are going to give 100% of time and effort on a reduced commission on a "lower-priced boat." Ditto for a boat that is also FSBO. Ditto on a short listing time.

Your ex-broker has some good points in her listing, but in my professional opinion it's not only poor, but she obviously doesn't know the mindset of trawler buyers and what they want to read in a listing.

 

[Lepke]

Better brokers separate out the lookers from the buyers. They're the ones that have to handle the dreamers with no money. And it's a slow market and will be until the economy improves. But remember if you sell the boat yourself, you get all the calls and tire kickers. And they all tell a good story, but most don't have two nickles to rub together.

 

[mmullins]

I just looked your boat up on YW and BUC. You're definitely in the ballpark price wise and, the boat is definitely well cared for. If someone is serious, I would think they would at least make an offer.

 

[slowgoesit]

Like the others have said, the market is softening and sales have slowed. I don't think it's your brokers fault, but I disagree with the broker on lowering the price. I saw your boat listing, the 1988 teak decks are a tough sell in FL even though all of your engine room improvements and new tanks add great value. I think you need to drop $20k off your asking to draw customers in. Just my opinion, no offense intended. Looks like a nice boat.

I am in agreement with Fleming above. Grand Banks has a very good Brand recognition, but your boat is still 37 years old, and has teak decks. I have seen several GB36 sold in the past year that we've been in Florida that have been in comparable condition that have sold for between $96 and $120k, although the 96k didn't have new fuel tanks.

Definitely try FSBO here on Trawler Forum. It's Free! If not going through a broker, for the same $$ taken home, you could drop the ad from the current $140k down to $126k. What do you have to lose?

 

[jleonard]

Every boat I have owned, I sold myself. So I guess you know my opinion.
But I have always priced them to sell.

 

[Hyperion]

First, I would absolutely recommend advertising you boat on TF. Below is my listing and the boat went under contract in 6 days. Post lots of pictures, including the engine room. Post as much information as you can. Don't avoid problem areas or tired equipment as it only discourages people when they find out and wonder what other problems you haven't disclosed.

Regarding the current broker, the last 6 months have been through the winter and an election. Not sure when peak buying season is, but probably not the winter. I would also consider this an awkward time relative to the economy and tariffs. Buying big ticket items is certainly much better when things are more stable.

2002 Cherubini Independence 45, Fort Myers, FL $350K

Slow Hand, a 2002 Cherubini Independence 45, is offered for sale by owner (Ted Green). Purchased in 2014, she was refitted, repowered and painted in 2014 & 2015. Slow Hand refit She was extensively cruised from 2016 through 2023, including the Great Loop, Rideau canal, Trent Severn canal, Erie...

www.trawlerforum.com

Ted

How are tariffs affecting the used trawler market? I agree that the last 6 months are likely slow "season"

 

[mmullins]

How are tariffs affecting the used trawler market? I agree that the last 6 months are likely slow "season"

In my case, the tariffs are causing financial uncertainty which in turn is causing a down turn in the stock market. I don't want to sell stock to buy a boat in the current environment.

 

[Hyperion]

In my case, the tariffs are causing financial uncertainty which in turn is causing a down turn in the stock market. I don't want to sell stock to buy a boat in the current environment.

Makes sense

 

[O C Diver]

How are tariffs affecting the used trawler market? I agree that the last 6 months are likely slow "season"

I don't think there's a glut of 16 year old or newer boats. If you think back to the economic collapse of late 2008, from that point forward for a number of years, boat building died (many builders went out of business) in the USA and many newer boats left the country on ships to markets that weren't as badly effected. Since then, there really haven't been new builders replacing those that went out of business. While there are more boats being imported, the price point makes new boats essentially for millionaires.

As far as older boats (17+ years), some went to other countries and many are aging out. Unless you're going to rebuild and old boat (your labor), it doesn't make economic sense.

My guess as far as tariffs effecting the used market, would be there are still buyers, and quality <16 year old boats will hold their value, but may take longer to sell. For those over 17 years and well above average to bristol, they will hold their value as well. For those below average, between carrying costs and a lack of buyers, I imagine the selling price will plummet.

Ted

 

[fault_tolerance]

My guess as far as tariffs effecting the used market, would be there are still buyers, and quality <16 year old boats will hold their value, but may take longer to sell. For those over 17 years and well above average to bristol, they will hold their value as well. For those below average, between carrying costs and a lack of buyers, I imagine the selling price will plummet.

Ted

As a buyer, I sure hope the selling price will drop, but so far it hasn't that much (at least not in the boats that we're looking at). We took to survey a 1979 55 Ocean Alexander and the owners want $510 for it. Yes it has been stretched, re-powered and pretty well maintained, but it also have 3 soft spots (which is concerning to us as it's under covered storage most of the time). Is that what we should expect to pay?

 

[DWJensen]

Is that what we should expect to pay?

I certainly wouldn't.

 

[lwarden]

As a buyer, I sure hope the selling price will drop, but so far it hasn't that much (at least not in the boats that we're looking at). We took to survey a 1979 55 Ocean Alexander and the owners want $510 for it. Yes it has been stretched, re-powered and pretty well maintained, but it also have 3 soft spots (which is concerning to us as it's under covered storage most of the time). Is that what we should expect to pay?

That's a very old boat, seems like a steep price to me unless it’s in Bristol condition. And soft spots in the deck isn't Bristol.

 

[fault_tolerance]

That's a very old boat, seems like a steep price to me unless it in Bristol condition. And soft spots in the deck isn't Bristol.

Our thoughts exactly!

 

[salish]

My own observation of the current market is that boats are selling very slowly. I've seen a number of them sit that would have sold very quickly a couple of years ago. I agree with the idea of a reduced commission if you bring the buyer, and then marketing yourself. Often the broker's only value in a sale is a place to keep the boat, and being near it to show it on demand. Sounds like you need neither of those.

Yes, very slowly. We listed Salish Nomad in November, and have had zero interest.

 

[terry n]

My beautiful 1988 Grand Banks 36 has been listed for 6 months with a broker and the 6-month listing agreement has expired. I offered to lower the price and she said not to but she only brought 2 potential buyers. We have put in new fuel tanks, and so much more below decks, and freshly varnished transom and rails, but this broker could do nothing. I hesitate to sign up with another broker. . . should I try to sell her myself? Her name is 1000 Miles from Nowhere (or as I refer to her "Miley"). Now Boat US is requiring a Condition and Valuation Survey, so I got one complete. Now they are knit-picking a survey that listed condition as "Above Average." I suspect they just don't want to insure her anymore. I just want to sell the boat, which is behind my house, so I can move off this expensive South Florida waterfront location. This is my husband's and my 7th boat, so I know the definition of a boat and just want to clear some of my expenses after the partial refit we did last year. Should I sign with another broker or post her info on this board?

i know someone who deals in your type of boat. he runs a brokerage specializing in boats for the folks wanting to do the big loop. i would be happy to give him your contact info if you want to give it to me on a message.

 

[PNK]

I have been looking for a boat in the same size range as yours, and was in contract on a Monk 36 which unfortunately came out poorly in the mechanical survey.
In general, though, one issue you may be having is that the potential customer base for older boats is small, for a number of reasons that have been discussed here over the years. I have seen newer boats, even those priced much higher, sell very quickly, while older boats - pre 1990 - seem to sit on the market. Just my own observation, though.
If your boat was closer to me I would be happy to come look at her, but as others said, older teak decks can be a negative for some.
It could help if your listing said something about the condition of the decks - the railings look really good, and if you have cared for the teak decks in a similar way that would be a real plus that you should mention.
You might also say something about the engines; 700 hours on an almost 40-year-old boat sounds low enough to warrant an explanation.
You should definitely list it here, as several said, and also on one or more of the GB owners forums.
Good luck, whichever direction you choose.
Peter

 

[Sleeping Bear]

Sold our boat this spring on the AGLCA website.