The conversation revolved around the processes and
problems involved in making a name in the big-yacht
market, a case of `who knows who' and `which yacht
fits their bill' being the keys to success. When asked how
many guys are recognised as good brokers, the end of
the line went silent; the murmurings and debate as to how
many capable consultants existed ranged from the low
20s to the mid 50s, the
rest being dismissed as
pure salesmen chasing
the deal and in many
cases soiling the process
with aggressive and
ignorant tactics. I was
surprised it was such a
high number Alex
pointed out that there
are no rules when
defining a bad broker
or brokerage house;
a good broker could,
in fact,be representing
a less than reputable
house and a very respected brokerage business may
be tarnished by the actions of an unscrupulous deal maker.
A broker worth his salt is able to analyse and understand the
market, know the right price for the right yacht his client is
lookingfor,butperhapsmoreinterestingly,asMatthighlighted,
"A truly good broker knows not just what's on the market,but
alsowhat'spotentiallycomingup."Inaddition,theindividual's
personality is key: if he immediately has an affinity with the
client then the battle is half won.The amount of trust a client
places on the broker is vital to win loyalty as well as longevity.
For so many of us, sales people are the necessary evils we know are
out to take our money and tell us whatever we want to hear in order
to sign a deal. The hard truth is...when that time comes for you to find
and buy that yacht you have been promising yourself for so long, no
one person has the ability to make that quest the smooth, trouble-free
and indeed enjoyable journey it ought to be more than your broker.
Industry Insider Robert K. Hoegafe asks the team at YPI Brokerage just
what is it that makes a good (or bad) broker.
AGE OF THE BROKER
15
As Alex pointed out, the job is for a sales broker to get the
best possible price for the seller and if you're acting for the
buyer,the reverse is the case,but it is vital never to confuse the
two, otherwise conflict enters the fray. Within YPI Brokerage,
if dealing for both parties in one transaction, they will
erect a Chinese Wall, with two brokers splitting the
responsibilities for buyer and seller.
The team members on
the phone highlighted
that they have for
years suffered at the
hands of these various
conflicts, whereby the
constant battle for
central agencies has
in fact resulted in
lost listings, but with
an invisible unified
wry smile they would
highlight the flaws in the
process. Matt was quick
to point out that, due to
their experience and
tracking of the market, there have been many instances
where a competing broker has told the seller the price he
wants to hear, invariably an inflated number. The client, an
impatient character, will expect the improbable: a sale to
go through fairly quickly with his profitable price guide, as
suggested by his expert. In so many cases, Matt added, the
client may, in fact, de-list the yacht and move it to another
house, with a fair reduction in price, after seeking further
intelligence, but after 18 months, the yacht remains firmly
for sale. This process of over-pricing does have an impact

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