In it to win it from David Seal

As you can imagine, I have to be VERY careful with the information that each firm gives me, so that I do not breach confidentiality or create a conflict of interests.

Last week a broker from one firm told me that he is about to received a signed mandate (known as a Central Agency Agreement) for a very prestigious and desirable yacht with a value in the region of €30,000,000. This kind of mandate is very desirable for yacht brokers, since it guarantees payment to the broker when the yacht sells within the term of the Agreement.

For a moment I felt a little awkward, since I knew that a broker from the OTHER brokerage firm had also tried to secure a listing on exactly the same yacht about 6 months before and had failed. Both brokers are outstanding and successful, and both brokerage firms offer excellent marketing services to yacht owners.

So why did the owner of this yacht choose one broker now, rather than the other one six months ago?

Simply put, TIMING plays a large part in the decisions that yacht owners make. One day they are not sure about selling their yacht…the next day they are. Circumstances change, it takes time to be sure about selling a major asset, and if a broker contacts them at the right moment and with the right credentials then they will probably get their  business.

Honestly, this particular yacht could have gone either way. Both brokers did exactly what they are supposed to do, and whilst today broker A won and broker B lost…tomorrow it could go the other way. The important thing that I want to stress is that you HAVE to persist to be successful in this business. You have to REGULARLY reach out to yacht owners. Enough to keep on their radar, but not so much that you become annoying. Don’t be discouraged when another broker wins the business that you hoped for, keep going – because you have to stay IN it to WIN it.

Yacht Broker Masterclass