Knot10 brokerage

E

Ehoyles

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I listed my boat with them back in March and so far only one showing. Initially I thought the lower commission schedule of 7% would allow for rock bottom pricing, but I have come to believe that other brokers will not show my boat to their clients for such a low co-op fee (8% split). Figure you get what you pay for is a tried and true axiom.
Any thoughts would be appreciated
 
Captain Ed,

I have a friend who is a broker and what you assume is exactly correct. There are lots of other boats for sale out there with more incentive to show than what Knot 10 offers. Beyond that, I've not heard anything else negative about Knot 10.

Here's a thought though. Ask Knot 10 if they would allow you to attach a cash incentive to be paid by you directly to the selling broker. I don't know what your boat is listed for but it would seem that an extra $500 - $1,000 dollar bonus paid outside the brokerage might light some fires.
 
I've heard nothing but good about Knot 10. I've even met the husband and wife team a few times. Very nice people.

Considering the number of boats for sale and the piss-poor economy, I don't think it's your broker that's the issue. While Mike might have an idea with the cash incentive, I think most brokers in these times would be happy to show/sell anything and everything.
 
Also keep in mind that boat brokerage has little in common with real estate when it comes to co-brokerage/shared commission. There is no industry-wide standard for shared commission on pleasure craft sales, and a small fraction of buyers actually retain the services of a buyer's agent.

Chances are that your buyer will find your listing through, and work with, your broker.

Make sure you get feedback from people who DO view your vessel. Your broker should filter useless info such as "we're looking for Cummins", yet pass-on comments such as "the radar wouldn't power up", "the ER looked dirty" - things you can address before the next showing.

Weigh your listing against comparables, and ask your broker for recent "Sold Boat" data to make sure your expectations and asking price are in line with the market.
 
It takes 3 things to sell a boat in this market. You get those 3 items aligned and your boat will be sold in less than 30 days.
They are:
1) Condition: Gotta be in good repair.
2) Presentation: this includes staging and marketing. Staging- make the boat show great and show like a boat show vessel- get your clutter out, etc. Marketing- make sure ad is the best it can humanly be. PICTURES SELL BOATS!
3) Price: Buyers are savvy these days. They aren't going to waste time on over priced listings. Price it right which typically is way less than you ever thought you'd sell for.

Commission rate definitely can go a long way to getting a boat sold- it is marketing dollars afterall. The broker can only really control the marketing presentation aspect of the boat- condition and pricing are ultimately your call. If your broker is asking what you want for the boat and that is the pricing plan then you are probably not going to sell the boat. if your broker has given you a full market analysis and really reviewed the boat and given you a strong indication as to where it really needs to be priced, you are probably in capable hands and you need to examine what other parts of the equation are missing that are keeping it from selling. I've sold a bunch of boats this season in less than 30 days from signed listing to closing with buyer but that only happens on boats that the sellers actually listen to the advice given to them and price it right. I would be remiss If I didn't tell you that we offer brokerage here through Boatered if your needs aren't being met:
http://www.boatered.com/forum/topic.asp?TOPIC_ID=138303
Hopefully though for your sake you are in good hands with your current broker and you can align the missing pieces so that your boat sells right away.
 
Knot 10 has sold many boats in my marina. They just sold my buddy's Chris Craft in 2 weeks!
 
Craig,

Just curious if you know whether Knot 10 sold the boats at Skipjack or was they listing agent and any of the boats were actually sold by another broker? I ask only because Nautilus is on site there and I found them to be pretty aggressive selling boats that are at SJC but listed by other brokers. They sold mine and just last month the sold my buddy's 38' Regal.
 
My brother-in-law and father-in-law are both boat brokers. The only thing moving lately are smaller boats. They sold a lot of bigger boats last year but it seems this is the year of $80K and under.
 
Mike,

Knot 10 had the boats listed at Skipjack that were sold. They have a couple more signs hanging on a few boats right now. My buddy had his with Nautilus for over a year and they did not do squat. Knot 10 got the listing and sold it in two weeks.
 
Mike,

One other thing. Do you remember Alex on "C" Dock? They sold his big boat in no time and just a couple of weeks ago, they sold his smaller SeaRay in 28 minutes and for more than what he was asking!
 
Craig,

Yes, I remember Alex. Was he still in a relationship with Debbie at the time? I know she took a job selling for a boat brokerage and was doing well at it. Was it Knot 10 she was working for? Just curious. Regardless, from what's posted here it appears Knot 10 is getting it done for most folks. As for Nautilus, they had a contrcat on my Silverton in 3 days, but, maintaining some truth in advertising, that was in July of 2007 before the big crash. They even took a $1,000 out of their commission when the buyer made some last minute demands that we thought were BS. Our friend's Regal ("Sarita K" on B Dock) was listed with Jackson for over a year with no offers. They turned it over to Nautilus last spring and it sold rather quickly. Like others have said, the right boat at the right price and with the right marketing will attract the right buyer.

How's things at SJC these days? I guess most of the old "Lower C Dock" gang has moved on to other marinas or out of boating. Do you get to Still Pond? Let me know and we'll share a brew.
 
Hey Mike,

Debbie wasn't working for Knot 10. Alex and she ended a couple of years now.

"C" dock still has most of the old crew with a few exceptions. I have been there five years now and I can only think of 3 who have moved on Alex, Joe Magnus, and Med.

I haven't been into Still Pond yet this year but will let you know when we plan an outing there.
 
Craig,

Yes, I knew Med sold his boat... whomever bought it got a beautifully maintained older SeaRay. Didn't know that Alex was out but I'm not surptrised (or about Debbie ;)). I guess Jack & Sandy and Chuck & Sue are still on C Dock, right?
 
I think Med's old boat is back up for sale. It is on "F" dock in Skipjack.

Yep, Jack and Sandy, Chuck and Sue are still going strong.
 
Here is my .02

Woodsong is right on the money. First, "detail for retail". It has to look its best. Second, price it right. I have several listings where the owners would not listen to reality and priced their boats according to what they think they are worth or somewhere above their outstanding loan. They get no traffic.

I would have a conversation with the broker about the issues.
 
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