Selling a boat is a significant transaction, and you should enlist professionals who are well-versed in the process. Similar to how real estate agents help home sellers, boat brokerage service providers search for serious buyers and handle the paperwork to complete sales. To learn more about what a certified broker can do for you, review this brief guide. 

3 Responsibilities a Broker Will Handle When Selling Your Boat

1. Price the Vessel Appropriately

On average, a new boat depreciates seven to 10 years after the purchase. Over-pricing the investment could make it challenging to find a buyer. Conversely, you could miss out on a financial opportunity by pricing the vessel too low. Boat brokerage service providers will prevent both scenarios. 

Brokers have access to the marine industry's Multiple Listing Services (MLS) databases, including BoatWizard® and IYBA®. These resources contain records on recent boat sales, which will give the broker an idea of the market value of the investment. 

With knowledge of consumer trends, a broker can offer suggestions to raise the vessel's market value, such as installing LED lights for better visibility at night. You can also incorporate smart technology, including remote monitoring for added security when the boat is docked.

2. Broaden the Search for a Buyer

Although you could advertise the vessel on social media or in local publications to garner interest, a certified broker will help concentrate the search to boating enthusiasts who are actively looking to make a purchase. Similar to a home realtor, the broker will prepare a detailed listing of the boat's specifications, complete with pictures, to include in electronic and print ads. The listing will also be posted to MLS databases, which are accessed by other brokers and buyers both nationally and internationally.

3. Facilitate the Closing Process

After you accept an offer, the broker will prepare a contract outlining the terms of the sale. They'll also prepare the closing papers for transfer of ownership, including the bill of sale you signed and the boat title. 

Your broker can also make sure the new owner has the U.S. Coast Guard Bill of Sale. This document informs the Coast Guard that a transaction with a registered vessel occurred. Your sales agent will make sure all aforementioned steps are completed by the deadline dates in the contract to avoid delays. 

The boat brokerage service specialists at Sutter's Canandaigua Marina Inc. are eager to help you find a buyer. For five decades, the professionals have facilitated pre-owned boat sales for enthusiasts throughout Monroe and Ontario counties in New York. The boat dealers will also help you find a new investment from the extensive list of offerings. Learn more about their brokerage services online, or call (585) 394-0918 for assistance. Find announcements on Facebook.