- Blog
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by Admin
Whether you are a first-time buyer or want to upgrade to a bigger yacht, the process of purchasing a luxury vessel can be a daunting task, without a doubt. Purchasing a yacht can be as challenging as buying an expensive villa in a plush location. Many minute technicalities are beyond a layman’s comprehension; therefore, expert advice is recommended. The yacht broker industry is not well-regulated, but fortunately, it is well-managed due to the niche sector. Yachts have always been a possession of the rich and the famous. Hence the buyers are those who are willing to spend millions on a single purchase without financial challenges. It is a big-budget purchase that involves transactions worth 100s of millions; hence one must strongly consider hiring a broker when beginning the process. No purchase is insignificant, but when you are spending millions on any purchase, you will certainly want your money’s worth.
What are the Advantages of Hiring a Broker?
There are many advantages of hiring a broker when going through the yacht buying process. However, some questions that might bother you in the process are – Where do I find the sellers? How do I know which one is the right purchase? What paperwork is necessary for buying my yacht? How will I take out time from my busy schedule to find and purchase my yacht?
This is when you will realise why hiring a yacht broker is necessary and how it can make your process stress-free. In this blog, we will discuss a few reasons why you should not go for the yacht purchasing process alone:
- Industry Reputation
Brokers have a worldwide presence and years of experience in brokerage within the luxury yachting industry. They are aware of the local market and can inspect vessels any time of the year. Due to the long-established reputation in the market, they have new and exciting inventory based on known preferences. It makes your search process more manageable.
- Industry Association
Yacht brokers are experts in the industry and have an extensive network in connection with the purchasing process. Whatever is your requirement, brokers can arrange that for you from the yacht details, upholstery needs, technical and mechanical stuff, and more. Your broker can avail of the best services for you in your local area. They are aware of what other brokers in the market have on offer and can quickly find the right yacht for you.
- Market Expertise
Brokers or brokerage companies are fully aware of market trends and expectations of buyers. While a private buyer may know only a few sites from where they can search their vessel, an experienced broker is associated with a multitude of sellers and websites that display an array of new and pre-owned local and internationally built yachts. As soon as you decide what features you want in your vessel and what type of vessel you are looking for, your brokers will connect to a multitude of specific forums and brokerage channels and connect to them over the phone or in-person to initiate the process. Knowing the ins and outs of the market will result in finding the suitable vessel quickly.
- Trained in Yacht Purchase
Brokerage companies and brokers are trained in Yacht purchase since they have years of experience in yacht buying and selling. They constantly study the market and know what makes a yacht function well and what doesn’t. They also know what features they must look for while buying a yacht and which yacht is worth buying.
- Experienced Negotiators
Brokers are experienced negotiators. They primarily work in their network that helps them in maximising the prospects for a good purchase. The brokers are the middlemen between the buyers and sellers/manufacturers and can efficiently keep negotiations moving forward smoothly and successfully.
Moreover, constantly looking for better options, taking calls from other brokers, consultants, manufacturers, and a multitude of sellers, is a tiring and time-taking job. Brokers manage incoming calls, offers and settle deals on buyers/sellers behalf. This makes the process stress-free for you as you have someone constantly working to fulfil your dream of possessing a luxury yacht.
- Quick and Easy Closing
The job ends after closing the deal that requires billing, title transfer, closing agreements, and other necessary documents. This is where your brokerage company makes the process quick, easy and hassle-free.
Why Hire Glamour Yacht?
Hiring a broker can make your entire process smooth and stress-free. If you are interested in buying a luxury yacht, be it a new or a preowned one, you can contact us here at Glamour Yacht, and we will be more than happy to help you. We are a young and dynamic yacht brokerage and yacht consultancy company in Dubai (UAE), offering an array of new and pre-owned yachts built by local and international manufacturers.
