Questions For Your Broker

It is rarely done this way, but I think the following approach should become common practice. Think about this logically…If you are a business owner and wish to hire a new employee. You prepare a job description, solicit applications, evaluate the qualifications, and interview selected candidates before making your final determination.

Purchasing a trawler is a major commitment of both time and money – it's probably up there with buying a home or sending your kids off to college. Shouldn't you develop a strategy for how you are going to approach this rather than randomly bouncing from websites to boat shows trying to find the perfect trawler on your own?

Remember you, the buyer, not only pay the commission (which is built into the asking price), but also pay for all of the due diligence costs – hull surveyor, haul out, diesel mechanic and oil samples.

Shouldn't you consider whom you want to represent your interests as a buyer?

“Purchasing a trawler is a major commitment of both time and money – shouldn't you develop a strategy for how you are going to approach this?”

This may sound like propaganda from the YBAA, but having a professional yacht broker looking out for your interests is the best money you will ever save. There are hundreds of professional yacht brokers with years of experience who are finely trained in the mechanics of a transaction. They know how to make an offer, bank a good faith deposit, attend a survey, complete the closing statements, and distribute the funds…but is that enough? It may not be enough, and below are some questions to ensure your yacht broker will advocate for your interests.

Ask your professional yacht broker to outline exactly what they are going to do for you.

“Having a professional yacht broker looking out for your interests is the best money you will ever save.”

Just as you should develop a “wish list” spread sheet for the features and equipment you want to see in your trawler you should seriously consider a similar list to help you find a broker. Your broker should provide the type of experience you deserve – both in purchasing a trawler and in enjoying it after you have completed the sale.

*Some insurance providers will not approve you to operate your boat until after you have been checked out by a licensed captain and shown your proficiency in systems management, navigation, and good boat handling skills.