By Todd Klimson
Licensed broker and internet marketing specialist
Boating season in the U.S. is just a few short months away and if you have decided to sell your boat or yacht, now is the time to think about listing it. It's simple economics, when demand increases, so does the price. In order to leverage the quick sale of your vessel you must harness the power of the internet not only locally, but worldwide. Recent figures suggest that 70% of US boats are being sold overseas due to our troubled economy. Furthermore, If your vessel is more than 5 years old, massive internet exposure is imperative when searching for that elusive potential buyer.
Massive internet exposure is one key component to marketing your boat, however, in order for a quicker sale there is more to it. Below I will share my 7 tips to effectively sell your boat or yacht quickly. These are proven ideas backed by years of experience and data.
1. Pricing - So you've decided to sell your boat. Pricing is the first step. But where do you start. There are thousands of classified and auction sites with boats for sale. Craigslist, Ebay, Boattrader, and Yachtworld are just to name a few. However, what many sellers fail to understand is "your baby" is NOT someone else's "baby". A listing price does not give you the full picture. Overpricing can hinder the sale of your vessel and turn away many potential buyers before they even contact you. So how do you find out what boats have sold for? That's where I come in. I have access to 2 boat listing services that will not only tell you what the market value of your vessel is, but will actually show you (up to date) what price similiar boats have sold for in any region of the U.S. This report can be generated in less than ten minutes. If you would like to know the value of your boat AND what price similiar boats have sold for I can send you a boat market analysis completely free of charge. Call 352.292.2736 or email me at toddk@popyachts.com.
2. Pictures - I look at over 200 boat ads a day and on average these ads have only 2-5 pictures. And worse yet the pictures are fuzzy or blemished. Bad pictures equate to a bad boat. When my company goes out to survey a boat we begin by taking 80-100 High Def pictures of the vessel. This not only includes both sides of the hull, but extreme close-ups of every electrical component, engine(s), trailer (if included), console, storage units, underneath the hull, and any other picture that may assist the potential buyer in getting an accurate depiction of the condition of the vessel. This speeds up the sales process tenfold. If the condition of the vessel is in question because of too few or blemished pictures, many buyers will just not take the time to "guess" if it's worthwhile to come out and inspect the vessel. Have you ever driven by a car dealership? Good dealerships have clean cars. Think of your ad as coming from the top boat dealer in the country. Make sure the boat is clean. This can be shown with high def pictures and make it much easier for the buyer to make a decision to see the boat or send a surveyor. If there are noticeable blemishes or scratches, fix them. Ever try to sell a house with holes in the walls, dirty carpets, or leaks in the ceiling?
3. Videos - I am often asked if videos make a difference when selling a boat. My answer is always a resounding "YES"!! Why? Well since most boat buyers are not local, allowing them to see the boat in action will help them make a quicker decision. More importantly it will weed out those not truly interested. Do a search on youtube "boats for sale". There you will find 1000's of boats for sale via video. You want to let the buyer see themselves in the boat. And guess what there's a date on the video. Now you just let the potential buyer know with complete confidence THE BOAT WORKS. Videos are especially important on older boats. If you have a large boat with living quarters take a video of the quarters. Again it is imperative to let the potential buyer "see" themselves in the boat. A recent poll was conducted in the Real Estate market on how effective internet video effected the realtors sales success. One respondant commented "“Yes. Sellers are more likely to list with my clients because they
utilize the most current and effective marketing techniques – internet
video. My clients also spend less time at showings because the videos
help weed out those that aren’t truly interested in the home.” Another realtor commented "“Yes, our clients are selling properties quicker and exclusively because of video.” This is the same for the boating industry. We want to weed out the tire kickers and those truly not interested.
4. Full, detailed description - When I am browsing classified ads the four most common mistakes I see from boat owners regarding ads are:
a. no contact information
b. no year on boat
c. no hours on engine posted
d. no detailed description
Boats are expensive, and in most cases luxury items. Why would you advertise an expensive, luxury item without giving the year of the vessel and not letting a potential buyer know the full details in the ad. Many serious buyers are turned away silently because they don't know the year nor the hours on the vessel. This sends a message you, the seller, is not too serious. When your ad is serious, your potential buyer that contacts you will be serious. The more you leave out the more unwelcome inquiries you will receive. Let the buyer know upfront the entire details of the boat. Our company utilizes a 9 page vessel worksheet that gives a full detailed description of the boat. This will again speed up the sales process. To list your boat for free call me at 352.292.2736.
5. Be Nice - Have you ever went to an attorneys office and saw a sign on the front door "Please, serious inquiries only!! Do not waste my time!!" Would you seriously hire that attorney if that was posted on the door. Absolutely not. It amazes me to no end when I see ads on certain classified sites and I see that same statement posted everywhere. In marketing the first ten seconds are the most important part of doing business. When you post negative statements like that you are sending a message that your tough to deal with. Your ad should be a handshake, "..welcome to my store, I'm glad you are here." In business when it comes to selling a product, tire kickers and lowballers are part of the game. When you market your boat you are in business, be professional and be ready to deal with an onslaught of tire kickers and low ballers, but don't turn away that silent great buyer because you started the ad with an unprofessional, negative statement. What if you walked into your local grocery store and the manager stopped you at the door and asked you if you had money to spend. I don't know about you but I would turn and walk away immediately. Thats the message you are sending when placing ads with negative comments. If you do not want to deal with tire kickers and low ballers then I will tell you about a simple solution in tip #7. Remember if steps #1-#4 are utilized many of these tire kickers and lowballers won't even call.
6. Records - Car Fax has had a tremendous amount of success over the years. It has time and time again lived up to it's reputation letting a car buyer know the true condition of the car. The boating industry has adopted a similiar program with boat history reports. My company offers this as a free service when you list with us. Also, keeping actual records is a fantastic tool you can utilize when you have a potential buyer looking at the boat. Statistics show that when you have maintained the boat consistently, the more likely you will command a higher price for your boat and more likely to sell your boat quicker. Most buyers want a turn-key vessel. Send copies to your buyer. Let them know beyond doubt how well you maintained the vessel. If you are working with a broker, give him or her copies. Again this will speed up the sales process.
7. Hire a boat broker - Boat owners are generally very busy. One huge advantage of hiring a boat broker is screening all those annoying calls from low-ballers, scam artists, and tire-kickers. You as a seller just doesn't have the time to deal with this. Furthermore, A question I am often asked by sellers is "Why should I hire you?" Many brokers cannot answer that question. That is the first question you should ask any boat broker. The answer lies in the VALUE they can offer you as a seller. Many brokers are in business for themselves and only know how to provide value for themselves, not for their customers. Value can be described in one simple word: performance. If I don't perform for you, you do not pay me. Find a broker that does not charge you to list your boat. Ask the broker where they advertise. Ask if they show you a detailed report of every inquiry made on the boat. Ask how many boats they have sold that year. Ask if they can provide you with a free market analysis of similiar boats sold that year and in the sellers region to ensure your asking price is at a fair market value. Always be sure the broker is licensed as a business entity within their state of domicile. Ask if they can take pictures and video of the boat to enhance the ad. These are just some of the inquiries to make when considering hiring a broker. Hire a broker that has considerable boating and internet marketing expertise. In these tough times it is imperative to have maximum exposure not only domestically but worldwide via the internet. When buying a product 7 out of 10 people will go to google first to perform a search. Ask a broker how quickly your ad be on the first page of google.
I hope these tips helped give you a better picture regarding selling your boat. Although there is no guarantee utilizing these tips will sell your boat faster, but they can put the odds in your favor.
Todd Klimson
This article was written by Todd Klimson, a licensed boat broker with POPYachts International, LLC. Graduate of the University of Florida in 1990. Extensive background in
financial services,
management, text analytics and data mining. He is an experienced
Internet marketer and marketing coach. To list your boat for free on 160 major boating websites within 24 hours and/or to obtain your free boat market analysis report email him toddk@popyachts.com.
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