The role of a yacht broker
A broker finds boats, checks papers, negotiates and coordinates the sale. Ask who they act for, how they are paid, and what they will do in writing.
Updated 2 min read
Key points
- A broker can act for the seller, the buyer or both, depending on the engagement. Ask which.
- The seller usually pays the commission, set in the listing agreement.
- A good broker checks papers and brings in a surveyor. Neither replaces your own judgement on the boat.
What a broker does
- Finds boats that match your mission and budget, including some that are not advertised.
- Arranges viewings and sea trials.
- Checks the papers: VAT status, registration, liens, CE documents. See Proving and verifying VAT status: which documents count, and checking before you offer.
- Negotiates the price and the conditions, and drafts the agreement.
- Coordinates the survey, the deposit, the closing and the registration.
Who the broker works for
A broker can represent the seller, the buyer, or both, depending on the engagement. When one broker lists a boat and also helps the buyer, ask how they handle the conflict. Some brokers split the roles between two people in the same firm. Ask for the answer in writing.
How brokers are paid
The seller usually pays a commission, agreed in the listing agreement and taken from the sale price. See Listing agreements and the costs of selling. A buyer's broker may be paid by the seller's broker, by the buyer, or by a mix, depending on the engagement. Ask for the arrangement before you start, so no cost surprises you at closing.
What a broker cannot do
- Guarantee the boat's condition. That is the surveyor's job. See Why you need your own pre-purchase survey.
- Give you tax or legal advice. They coordinate with your adviser.
- Make the decision for you.
Questions to put to a broker
- Who do you represent in this sale?
- How are you paid, and by whom?
- Who holds the deposit, and under what conditions? See The deposit: how escrow protects you.
- Can I choose my own surveyor?
- What happens if the survey finds problems?
- Which boats have you sold of this model?
When you may not need one
A buyer who knows the model, the paperwork and the market can buy privately. The deposit, the registration and the lien check are then yours to manage. Many buyers use a broker for these steps alone.
Related guides
General information, not legal, tax or financial advice. Rules change; check your own case with a professional or ask us.