Monaco Yacht Show day 1

3 images

Advice: 8 of the questions you should be asking when choosing a yacht broker

26 March 2024 • Written by Nick Jeffery

What are the key questions you need to consider when choosing a yacht broker? In a quickfire poll, BOAT International asks the experts in the field the questions they believe prospective yacht buyers or sellers should ask when choosing a broker. 

1. "How long have you been a yacht broker?" 

"Obviously, a broker’s time in the industry leads to having gained experience at some level. In the yacht sales business, the broker’s compensation is commission-based – if you don’t sell, you don’t eat! It doesn’t take long before a full-time broker must move on to another profession if he or she can’t sell" – Jon Burkard, president, Allied Marine

2. "Is the broker reputable?"

"Are you a member of a professional organisation (MYBA or IYBA)? Do you have the right PI insurance and cyber insurance in place? Check they are established as a professional broker in their day-to-day job (with separate client accounts) – not an 'Instagram broker'" – Richard Lambert, head of sales, Burgess

3. "In terms of marketing, what do you do that is different to others?" 

"We try to focus on all aspects but are strong on video, with our YouTube channel and high subscriber numbers. That is a big source of leads, not only for finding buyers. We also list boats as people see the broker and their personality and think they'd like to sell their boat with them" – Ben Farnborough, COO, Denison Yachting

4. "What’s your edge?" 

Alex Koersvelt, commercial director, Edmiston

5. "Does the company you represent have a truly global footprint?"

"The marketplace and buyer demographics are truly global today. Does the company you represent have a truly global footprint?" – Anders Kurtén, CEO, Fraser

6. "Do you have a listing presentation?"

"Ask for a listing presentation to get an idea of how they will market your yacht. Be sure a comparative market analysis or CMA is included – this analysis will give you an idea of the competition and what similar yachts have sold for in the past" – Michael C. Galati, yacht broker, Galati Yacht Sales

"Ask yourself: 'Would you buy a used boat from this man?'" – Anders Kurtén, CEO, Fraser

7. "Tell me about your experience?"

"How many yachts have you and your company successfully brokered in the past year(s), especially in the market segment I am interested in?" – Raphael Sauleau, CEO, IYC

8. "How do you manage the compliance and regulatory landscape of today?"

"How does your banking and financial governance look?" – Toby Maclaurin, sales director, Ocean Independence

For all the latest brokerage news, make sure you are subscribed to the BOAT International newsletter.

Subscribe now

Sponsored listings