You'd be surprised at what happens
Jul 12, 2024It’s not unusual for yacht sales to fall through.
Sometimes this can be because a buyer or a seller have a change of heart, sometimes because the yacht has technical problems, but you may be surprised to hear that sometimes the brokers involved in the sale have not been diligent enough to “cross the “T”s and dot the “i”s of the documentation.
There is a whole array of documents that need to be in order for a yacht sale and purchase transaction to take place, and whilst the lawyer may have the main responsibility to ensure that documents are in good order it is certainly advisable for the broker to keep an eye on proceedings. I recently saw a signed Sale and Purchase Agreement for a yacht that had been approved by a lawyer but nobody had included the name of the yacht, the size, or any of the details. It was impossible to tell exactly WHAT was being sold or purchased! Thankfully the broker checked it before sending it to the seller for counter-signature and prevented an embarrassing situation that may have led to losing the deal.
This may seem nearly unbelievable on a transaction of several million dollars, but I assure you it’s true.
The lessons from this?
- Don’t think that you need an advanced education to be able to sell yachts. You don’t. Common sense, attention to detail, and a sense of responsibility are far greater assets than a Bachelors of Art degree.
- I’ve said it many times before; although there are a great number of yacht brokers in the world, the number of really excellent yacht brokers is alarmingly small. There is most certainly space in our business for people who are prepared to work hard and use common sense.
The Yacht Broker Master Class is designed for just those kind of people, and in a few days I shall be hosting a free webinar to talk to folk who would like to find out more about that opportunity. Already, folk who have completed the course are finding work in the industry, and I’m happy to say I’m the first person they call when they sell their first yacht.
If you want to find out more, you can sign up for the Free Webinar at the link below.
https://www.yachtbrokermasterclass.com/three?cid=7cce8aa6-501f-4890-b447-f0883b690c17
To see the video version of this blog:
Join the Yacht Broker Master Class
The Yacht Broker Masterclass will transform you from a smart business person or a passionate "yachtie" into a knowledgable professional who can speak with authority and become a remarkable Yacht Broker.
Instructed by the industry's renowned professional David Seal.