I'm thinking of selling my 257 at the end of summer. Looking for advice on whether or not to use a broker? What's a normal % for a brokers service? I'm sure there are pros-cons for the use of a broker but I would think there's a price point that the juice is not worth the squeeze?
Advice on selling my GW
- Thread starter CosbyLAX
- Start date
JJF
Well-Known Member
I think brokers get 10% - 15%. If you are close to the boat, then I would recommend going FSBO.
You may already know or intend to do the following, but a little reinforcement never hurt.
I would take all of the gear off the boat, then give the boat a really thorough cleaning and then a full detail (and I mean detail; clean/polish everything). The idea is to make the boat look as good as possible. Also, fix anything that is broken, so everything is in good working order. You can fix dated electronics or faded this/that, but you can still make the boat look good and show well. I would leave off any gear that creates clutter. I would store all required safety gear in one compartment, so all other compartments/areas look clean & spacious.
I would then list the boat one to two months before your season ends, so you have the opportunity to show/demo the boat. You may need to let it go sooner than you like, but it's better to have it gone and move on, if that's what you really want....
(you might even be able to work it such that you close at the end of the season)
It's usually much harder to sell a boat that's in storage.
Hope this is good food for thought and helps.
You may already know or intend to do the following, but a little reinforcement never hurt.
I would take all of the gear off the boat, then give the boat a really thorough cleaning and then a full detail (and I mean detail; clean/polish everything). The idea is to make the boat look as good as possible. Also, fix anything that is broken, so everything is in good working order. You can fix dated electronics or faded this/that, but you can still make the boat look good and show well. I would leave off any gear that creates clutter. I would store all required safety gear in one compartment, so all other compartments/areas look clean & spacious.
I would then list the boat one to two months before your season ends, so you have the opportunity to show/demo the boat. You may need to let it go sooner than you like, but it's better to have it gone and move on, if that's what you really want....
(you might even be able to work it such that you close at the end of the season)It's usually much harder to sell a boat that's in storage.
Hope this is good food for thought and helps.
JJF
Well-Known Member
adding some additional commentary
When I sold my last boat (2012 Hydra-sports Vector 22'; sold in 2021), it was in winter storage (heated warehouse). When I put the boat away, it was 100% detailed and had no gear on board. A father and his two adult sons took one look at it (January 2021) and bought it without a survey, sea trial or even hearing it run. I got lucky (not that there was anything wrong that I had to worry about, but I got to go replacement boat shopping with cash in hand from the sale).
My point is, the better it looks, the faster & easier the sale will be.
When I sold my last boat (2012 Hydra-sports Vector 22'; sold in 2021), it was in winter storage (heated warehouse). When I put the boat away, it was 100% detailed and had no gear on board. A father and his two adult sons took one look at it (January 2021) and bought it without a survey, sea trial or even hearing it run. I got lucky (not that there was anything wrong that I had to worry about, but I got to go replacement boat shopping with cash in hand from the sale).
My point is, the better it looks, the faster & easier the sale will be.
Great advice! Thanks for the input. My boat is really clean except for surface dust because it' s in a high and dry. I just had it detailed, probably do so again before I put on the market. That was one of the things I was curious about with a broker, would he pay for the detailing since he's getting commish?
WOW, that's a big chuck. Glad it worked out for you.
JJF
Well-Known Member
No. The broker will not pay for anything other than advertising.
I wrote and deleted three responses to this post. It's hard for me to shut up so here is my fourth attempt at a reply.
It's a scary world out there. There are scammers that will steal your money. Unfortunately there are some evil folks who may do you harm.
Of course you have to be on guard for scams but also you have to be safe.
I suggest you talk to a broker or two first and see if you feel comfortable and learn what the broker can do for you. You don't need to sign anything yet.
Put the word out to your friends that you are selling in case they know someone who is looking for a boat. Be ready mentally to sell sooner than the end of the season ( not the best time to sell if you live in a seasonal weather area.)
Selling in the fall can lower the boats value. If someone wants to see the boat it is advisable to have a friend with you.
The money and document tasks are important too but it's early to get into that. A broker of course should handle all of those details.
It's a scary world out there. There are scammers that will steal your money. Unfortunately there are some evil folks who may do you harm.
Of course you have to be on guard for scams but also you have to be safe.
I suggest you talk to a broker or two first and see if you feel comfortable and learn what the broker can do for you. You don't need to sign anything yet.
Put the word out to your friends that you are selling in case they know someone who is looking for a boat. Be ready mentally to sell sooner than the end of the season ( not the best time to sell if you live in a seasonal weather area.)
Selling in the fall can lower the boats value. If someone wants to see the boat it is advisable to have a friend with you.
The money and document tasks are important too but it's early to get into that. A broker of course should handle all of those details.
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Mustang65fbk
Well-Known Member
I think the biggest time that using a broker makes sense is when you're struggling to sell the boat, it's a buyer's market, it's out of season, etc. Which would take me to my next point of, if you're serious about selling the boat then I'd list it during the summer. That way, you're going to likely get the best price and have the greatest number of people interested in the boat. Not sure where you're located at, but if you're in a location where you've got winter months and keep the boat in storage then you're likely going to have considerably fewer people interested in the boat at that point. Also, as mentioned above would be that if you list the boat during the summer and it takes a couple of weeks or months to sell then you're still only looking at maybe late September or early October at the latest. Which again, you're still likely to get a higher selling price than you would during say January or February. I've never sold anything with a broker before, but did buy my last boat through a broker and it was a pretty simple process. That being said, I definitely wouldn't want to give part of the selling price to a broker that literally just advertises the boat for you and not much else, as I can do that on my own.
Great feedback Thank you!
Also great feedback Thank you. I'm glad I posted the question.
No Kidding! I didn't even want to put her in the water after it was detailed last month.The problem with doing all that work to detail and fix everything, is that then you don't wanna sell it cuz it looks so good.
Keep it. Nice boat.
Mustang65fbk
Well-Known Member
That brings up a good question of why are you wanting to sell it?
Good question, kind of long story but basically not using it enough. It's in a H/D 1.45 hr from my home. I was going buy a second home there but market went crazy and doubled. Now can't afford the second home. It's a 2017 with 120 hours!
enfish
Well-Known Member
Ha! I did that with my last house... got all new flooring, fixtures, appliances, paint, etc. Then asked myself why we were moving, reminded myself the house was too small, and kicked myself in the head for not doing all the new stuff 10 years earlier...The problem with doing all that work to detail and fix everything, is that then you don't wanna sell it cuz it looks so good.
Mustang65fbk
Well-Known Member
My grandmother was very similar when we decided to renovate her house and then try to flip it. Spent all summer, thousands of dollars, hundreds of hours and so forth to then have her say she wants to keep it.Ha! I did that with my last house... got all new flooring, fixtures, appliances, paint, etc. Then asked myself why we were moving, reminded myself the house was too small, and kicked myself in the head for not doing all the new stuff 10 years earlier...