How will your boat be marketed?
In today’s market, boat buyers are getting information from many different media outlets which is why we make sure your boat gets exposure across the board. We want to make it as easy as possible to sell your boat here in Annapolis or anywhere you wish:
Online Presence
Print Advertising
E-Mail Marketing
Word of Mouth
Sell your boat quickly for top dollar!
Price
When selling your boat, price is perhaps the first thing buyers notice. Along with size, price is typically the primary parameter used in online boat searches. Because buyers have easy access to market information on the Internet, they are usually well-informed and have a clear understanding of what constitutes a fair price for the type of boat they are seeking.
Setting your price too high can turn off potential buyers and lead to extra costs over time. If your boat sits unsold, you’ll continue paying ongoing expenses like loan payments, storage, and insurance. Pricing your boat correctly from the beginning is key to generating buyer interest and avoiding an extended sale process.
It is also important to be realistic about the value of any upgrades or improvements you have made to your boat. Sellers frequently make the mistake of overvaluing these sunk costs, which are expenses that have already been incurred and cannot be recovered. Overestimating the worth of these upgrades – especially maintenance items which are not true upgrades – is one of the most critical errors when determining your boat’s value
Condition
You know the saying that you never get a second chance to make a first impression? The first impression your boat leaves on potential buyers is SO important! A clean boat that’s tidy and well-organized gives potential buyers a positive message that says “this boat was loved and well cared for”. Subliminally, it leaves them with the impression that the things they CAN’T see are just as well kept.
On the other hand, a boat that is dirty and cluttered with unfinished projects gives the impression that no one cares about it anymore. A neglected boat plants a seed of doubt that often results in a low offer (doubt = dollars!) or worse, no offer at all! Pay attention to all aspects of the boat – the hull, deck, interior and even storage and bilge spaces, as buyers will look everywhere and judge your boat on what they see!
Location
You hear it all the time in real estate – location, location, location! You may not think it’s as important when selling your boat, but it IS! Location plays a big role in how much traffic you’ll get and can make a big difference in how quickly your boat sells. A clean boat that’s priced right but kept in a remote location or is difficult to access will receive much less attention than the one that’s right in the action. Many times, buyers are traveling from out of town to a boat buying destination (such as Annapolis) to see several boats in one day. If yours is too far off the beaten path, the chances someone is going to see it – either planned or by chance – are much lower.
We are often asked if storing the boat in or out of the water is better when selling. Both have their pros and cons – a boat in water may be a bit easier to board, but it doesn’t give buyers a chance to see the underside of the boat during their inspection. The question we ask is – Will you be using the boat, or at least checking on it regularly? If so, leaving it in the water is just fine. However, if you’re moving it to a location where you won’t be able to get to it frequently, the best and often safest option is to have it hauled, preferably to a spot where your broker can check on it and act as stewards in your absence.
What to expect with Yacht Brokers of Annapolis?
Once we decide on a price to be competitive with the market, and it’s show ready, now it’s time to list your boat:
- Expect to sign a Listing Agreement which includes:
- Selling Price – The price at which your boat will be offered for sale, based on active comps, sold boat data and your boat’s condition and location. That selling price will appear on your Agreement.
- Timeframe – The agreement is for a minimum of 180 days – 6 months – to exclusively represent your boat. After which, this can be terminated with written notice.
- Commission – In exchange for marketing, representing and processing all documents necessary to complete the sale of your boat, we collect a commission of 10% of the selling price or a minimum of $5,000, whichever is greater. Nothing is due until we sell your boat. If the Buyer is represented by their own Broker, this commission will be split with the Selling Broker.
- Expect to provide a copy of your driver’s license (and any co-owners), the boat title or Certificate of Documentation (if applicable), and the state registration. If your boat is owned in an LLC or Corporation, we will also need the Articles of Incorporation and Operating Agreement, so we know who has the authority to sell the boat and what their ownership is. Having this on hand will make the paperwork process quick and simple when your boat sells.
- Expect us to familiarize ourselves with your boat, including building a complete inventory list, gathering maintenance records, and taking great pictures and/or video to build your listing.
- Expect us to build an effective listing and work tirelessly to promote your boat and protect your best interests!
Contact Us