Yacht Sales: FSBO vs Brokerage - Which Is Better?
Looking for the best way to sell your boat in Florida? You might be weighing your options, thinking hard about whether it’s worth it to go through a broker or if it’s better to just sell it yourself. We know the choice isn’t so simple, especially when it comes to something as precious as your boat. That’s why your local boating experts at Sovereign Yachts are here to point out the pros and cons between the FSBO and brokerage selling tactics to help you find the better option in terms of both profits and safety.
There Are Two Ways to Sell a Boat:
How can you sell your boat? There are two ways to put your listing out there and make a sale:
- For Sale By Owner (FSBO) - When you choose the FSBO method, it is up to you to handle every aspect of your boat sale. This includes everything from putting up the listing to managing the sales transaction.
- Brokerage - Hiring a broker to handle your boat sale leaves the responsibilities to a qualified professional. They will put your boat on their exclusive outlets and ensure a safe transaction for the funds.
What the FSBO Method Means For You
The biggest failures in selling a boat are often the result of FSBO sales. Just because you know how to post a listing online doesn’t mean you’re in the clear. That’s just one step, and possibly the easiest. Sellers often go in over their heads and end up with chump change that’s not reflective of their boat’s true value. Worst case, you’ll run into scammers and be out of a boat and money. How does this happen? To properly sell a boat, you need to be good at a few crucial things:
- You have to fully understand the fluctuating boat market.
- You need to know all of the legalities that come with selling a boat legitimately.
- You should know when someone is trying to scam you.
- You have to have the time to fully invest in your boat-selling endeavor.
Selling a boat isn’t something that passively happens in the background of your day-to-day. You need to put your full time and commitment into the sale for the best possible outcome. Even if you had the time, that won’t be enough if you don’t know how to generate leads. There is so much more that goes into selling a boat that makes FSBO nearly impossible for the average person to pull off.
The Benefits of Hiring a Broker For Your Yacht
Hiring a broker shouldn’t be seen as the “easy way out” for those who don’t want to put in the time or have given up on the selling process. Consulting a broker is the smart choice for those who want the safest method with the highest chance of granting them a fair profit.
What do brokers do differently that makes them worth the hire? Their expertise encompasses everything you need for a successful boat sale. They have access to official outlets that are reserved for qualified members, they know all of the legal aspects of selling a boat as much as they know how to breathe, they have industry knowledge of the boating market and current trends, and so much more.
On top of knowing how to properly sell your boat, brokers come with added perks. They can spot a scam from a mile away, they’re skilled in negotiating tactics, and they can even offer valuable advice on boat selling like how to better prepare your vessel for a higher price. The cost of hiring a broker is almost always guaranteed to pay off by the point of sale. Plus, buyers like the peace of mind that comes with buying from a qualified expert!
Have a Boat to Sell? Leave It to Sovereign Yachts!
Call Sovereign Yachts today to ask about how you can get started on selling your boat. You can begin by valuing your trade online before getting in contact with your local broker. We’re here to offer our services to get you a great price on your rig!