Q: Is there a difference between yacht brokers and dealers?
A: Yes. Dealers sell new boats and represent specific makes. Brokers work to bring a buyer together with the owner of a used vessel. When an owner wants to sell his yacht through the broker network he enters into a listing agreement with a broker of his choice.

Q: Do yacht brokers sell only their own listings?
A: No. This is a common misunderstanding. We think it arises from the misperception that the used boat market is analoguous to the used automobile market where they can only sell what's "on the lot." Actually, in most respects, yacht brokerage operates like the real estate market. Nationwide multiple listing services allow Adventure Yachts and other licensed brokers to post specifications and asking prices for the boats they represent. All member brokers have access to all of the listings. Consequently, other brokers sell our listings and we sell theirs.

Q: You said yacht brokerage works like real estate in most respects. How does it differ?
A: The basic difference centers on who a broker is representing. In the real estate industry individual agents are acting on behalf of the seller unless a separate agreement is executed naming an agent as a "Buyer's Broker." In our industry the standard "Yacht Purchase & Sale Agreement" clearly states that the listing broker represents the owner of the boat and the selling broker represents the buyer. So whether you're the seller or the buyer you have a broker who is attending to your interests. This standard contract was established by the Yacht Brokers Association of America, a national organization that sets ethical and business standards for the industry.

Q: Does a broker ever represent both the buyer and the seller?
A: Sometimes, and the standard contract recognizes that contingency. At Adventure Yachts we try to avoid that situation whenever possible, but should it occur well let you know up front.

Q: Sometimes I see what appears to be the same boat advertised by two or more brokers. Is this possible?
A: Yes. Since all brokers have access to detailed specifications through the multiple listing services, some brokers will advertise boats they havent listed simply to attract customers. Although we don't advertise another broker's listings without first asking for permission, we don't see this as a disservice to the owner or the buyer. After all, the object is to bring the buyer and seller together whether we do it alone or get a helping hand from our fellow brokers.

The bottom line for buyers is to find a broker you're comfortable with and stick with him or her, we all have access to the same inventory.

For sellers, it's pretty much the same story, except you'll want to make sure your potential broker is a member of the multiple listing services and generates showing activity by promoting your yacht within the broker community as well as to the general public.

Q: How are yacht brokers compensated?
A: Brokers are paid a percentage of the selling price by the owner of a yacht when the sale is completed. This commission is paid at the time of closing and the standard rate is ten percent. Both the listing broker and the selling broker receive a portion. Normally the selling broker receives a larger portion than the listing broker  a split which Adventure Yachts fully endorses since the brokers real job is bringing a buyer and seller together, not just typing up listings.

Q: So, if Im buying a yacht I pay no brokerage fees?
A: That's correct.

Q: But if I'm selling a yacht I pay 10% of the sales price for brokerage services. Isn't that a little steep considering that real estate commissions are more like 6%?
A: Not really. Yacht brokers have the same office, administrative and promotional expenses as a real estate broker yet the average sale price of a boat is well below the average sale price of a house. Secondly, everyone needs a house but not everyone wants a boat - it's a smaller market. And finally, it's not necessarily a simple transaction. Selling a yacht involves a number of time-consuming steps. See our web page titled "Other Services."

Q: You mention multiple listing services. Is there more than one?
A: The short answer is yes. However, the most widely used service is currently YachtWorld.com. Before listing your boat you should ask if your potential broker is a YachtWorld member. Adventure Yachts is a member, but we also subscribe to YachtCouncil.com, a multiple listing service developed as a joint effort by the leading Yacht Broker Associations.

Q: I have internet access. Why can't I just list the boat myself?
A: You may, but not through YachtWorld or YachtCouncil. Both of these services charge monthly fees to serve as an electronic link among professional brokers. Consequently they don't accept listings from individual owners. However, there are a number of other web sites that do accept "for sale by owner" notices, but whether or not that avenue is a reasonable choice for you depends on a number of factors that we will be happy to discuss with you.

Q: Im interested in selling my boat. How do I select the right broker?
A: First narrow your choices to a few brokers who are YachtWorld and YachtCouncil members and, most importantly, specialize in the type boat you're selling. Adventure Yachts specializes in cruising yachts - sailboats, trawlers and long-range motoryachts. Other brokers specialize in small powerboats, racing sailboats, catamarans, etc. After you've compiled this short list contact them and ask questions - ask how they intend to promote your boat, ask for references. You'll soon develop a feel for which broker provides the services, promotion and approach to the business that meets your needs.