Fizzbo

1. Use some Broker?
2. Use BYA or go...
3. FIZZBO--For Sale by Owner?

• Your boat's value is over $75,000 and/or it's size over 35'
• You're willing to central list with us.
• You're willing to move your boat to Annapolis for more effective marketing
• You're willing to have the boat pre-surveyed (about $5.00/foot) and follow the surveyors recommendations to make it more marketable.

Catamaran owners...

• All of the above, except
• We may still be able to work with you with your boat remote from our location because there is such a shortage of catamarans on the market. Of course, it would still be better to move the boat to Annapolis, "America's Boating Capital".

We sell quicker, for more. We're effectively on the WEB. We're a member of BUC. We have an outstanding location--perhaps the best in the country, We're a solid company with a 24 year history of success. Ask for our brochure or confidential Web site, How to sell for Profit.

Earn while you sell...

We have developed a very successful program for those willing to move their boats to Annapolis. You can immediately eliminate your carrying costs by placing your boat in our investment program YPSMP while we have it listed for sale.

In some cases, rather than take a low (or wholesale) trade-in price, or not getting the best price on a new boat--we can show you how your boat can earn it's keep while it's for sale. We have discovered that you can take advantage of a premiere location and having a professional broker while also increasing the marketing opportunities for your boat. Often times, a charterer turns into a buyer. He likes having a boat fully managed in our program and getting the income stream already started. In other words, now you can still sell your boat as a brokerage boat but also have the additional opportunity to sell it as a going business.

When you ask for How to sell for profit, or go to our confidential WEB page--be sure to fill out the form there so that we can provide you with a business plan for this  important option.

(If you decide to sell yourself, or choose a different broker--be sure you, or he can answer the following. Answers at the end--you don't even  need to talk to us.)
This test is designed to question your familiarity with the issues involved in selling your boat yourself. Whether you decide to sell yourself, go FIZZBO, or Open-List-list with a few brokers and reserve the right to also sell yourself-it is essential that you and/or any brokers you select understand the answers to these questions.
These issues represent only a small portion of those that we deal with every day to protect your interests and to help you sell your boat as quickly as possible at the best possible price. The answers shown are based on over 20 years of experience, making 100’s of sales without ever encountering a legal suit or having an owner subsequently involved in a suit.
Take the test, score yourself, and come back. To sell your boat yourself takes a considerable investment in time and money and can be fraught with possible legal complications. Free advice is everywhere and worth about what you pay for it!

The buyer's view...
Buyers recognize FIZZBO’s for what they are-an opportunity for them to take advantage of a situation and get a bargain. They often start by offering at least 10% less, knowing that you’re not paying a commission. They often come to you with unrealistic expectations at best, and larceny in their hearts at worst.
The bottom line is that there is lots of competition out there. There are many boats similar to yours-often at better prices. There are relatively few buyers. (See our brochure on how BYA makes a difference-Why Choose BYA.) We, as professional brokers, and in conjunction with other cooperating brokers, have a large pool of buyers. This pool was not built up overnight. Some of those we are selling to now, started looking one or two years ago. Some of the people you will show your boat to will not be buying for one or two years-o.k. for us, not great for you. Because of our reputation, many people choose to come us as their broker for advice and services. We keep following up for 30 months! You, perhaps, don’t have that luxury?
When we promote, we get names, addresses, phone numbers and compile qualifying information. A buyer may ask about a particular boat, but may ultimately be interested in a different boat that we have. In fact, our analysis reveal that the vast majority of clients end up buying a different boat than the one they initially contact us about. Often these clients cannot afford their hearts desire and so we take them in a more realistic direction. Our promotions work efficiently because, while every boat may not be exactly right for a particular buyer, there is a boat for every buyer-and we’re not limiting our clients’ choices as you must. This ability to stay with a client over a longer period of time, to have an inventory of choices available, to qualify him, and to have a variety of services and contact people on tap make our promotion efforts efficient and cost effective.
Finally, every day that you delay costs you time and money. Add up your loan costs, dockage, insurance and maintenance-not to mention depreciation with time! (Unfortunately, boats are depreciating assets after all!) Consider that in the end your FIZZBO buyer may pay you no more than you would net after paying a commission, but:

• It may take you longer to sell and you may ultimately sell through a broker anyway.
• You might waste a lot of time with unqualified buyers. (Not financially qualified, or simply not ready to buy yet-tire kickers to you; long term buyers of us.)
• You might miss out on buyers we, or our 30+ Co-Op brokers, have actively looking right now-while your carrying costs go on!
• You might have a nasty legal complication during, or even after, the sale.
• You may end up paying a lawyer for contract advice, escrow services or more. In effect, paying for services already included in our service. Our agreements were developed initially from an attorney’s effort, but were then refined based on experience. Do you want to settle for the preliminary draft of an agreement, or use one proven by success and the test of time?

Open listing?
Should you Open List your boat? An open listing means that you list your boat with individual brokers you specifically choose while reserving the right to sell your boat yourself. When you Central List you choose one broker who represents you exclusively and is responsible for distributing your listing to all other qualified/interested brokers.
There’s only one reason to Open List... To sell yourself! Review all that has been said before. There are numerous disadvantages to open listing:

• The single most important way that boats get sold is exposure to people wandering around boat yards. Your boat won’t have a sign on it with a seven day a week contact. If, in fact, you put a FIZZBO sign on it, brokers will either try to call you to convert your attitude, or they will stay away like your boat has the plague.
• Generally the broker’s attitude is to put Open Listings at the bottom of their list. They have learned from experience that owners don’t update each broker on the latest status. They often can’t reach the owner (after hours, weekends, during the day when you’re away from your office) to find out the status, and when they do, they may find out the boat is off the market, has a contract pending, the price or inventory is changed, or whatever. It’s just not worth the trouble when there are so many alternatives! Your Central Agent, on the other hand, immediately notifies all other brokers of changes in status. All other brokers know they only have to call one place to find out the current status. Don’t underestimate the importance of this. Time after time I hear brokers complain that it’s just not worth dealing with open listings-many won’t!
• You have to contact each individual broker each time you want to find out what’s happening.
• You won’t have the feedback that a Central Agent can offer. By getting comments funneled through his office from numerous brokers, your Central Agent is in a better position to advise you if work needs to be done, a price adjustment is in order, or about an array of other pertinent details.
• There will be no marketing plan. (See our Yacht 20 Advantage Plan.) Your boat will have the lowest priority on all promotions. It will only be considered as a last result.
• You may miss giving the listing to a broker who has the perfect customer-right now.
• You won’t have a professional, a professional of your choice, representing you when an offer comes in. A good Central Agent is also a good negotiator. (Each of BYA’s brokers has taken a professional negotiating course, as well as participated in the results of hundreds of sales, either from direct involvements or through participation at weekly meetings.) He can raise your boat’s value in the prospective buyer’s (and the buyer’s broker’s) mind. He can also scrutinize the terms of the contract. He will not only explain the details, but he may suggest changes for your counter offer that will benefit you.

Click on this thumbnail image to retrieve a full size picture of our Annapolis, stateside home office.

If you would like to call, we're normally open 6 days a week except holidays--, Sundays or holidays by appt.:
Sales/Investments: 410-263-2311, 800-YACHT20 (4820)
Charters: 410-263-1818, 1-888-995 BOAT (2628)

Or go directly to our Request for sales information form and contact information here.

ANSWERS:
(41 possible right answers) 1. C, F 2. Price 3. Yacht World4. Notebook-pencil/ Listing/ Name, address, phone/ Boat he owns/ When he wants to have boat/ Location/ Combo-Key location 5. Yacht World Comparables/ YW-sold boat prices 6. (a) Attorney (b) Attorney (c) Survey/ Financing (d) Sea Trails 7. 3% Limited Liability Clause 8. Not guaranteed, Buyer to confirm 9. (a) Effective (b) Acceptance (c) Closing 10. Arbitration 11. Documentation/ Bank (or Attorney) 12. Taxes 13. (a) 5.0% (b) 20% (c) 15-20 14. (a) Documentation or Title (b) Loan Payoff (c) Bill of Sale 15. ? 16. (a) Inventory Adjustment (b) Survey Adjustment 17. (a) Condition (b) Surveyor 18. (a) Where to display-What promotion (b) Pricing (c) See purchase agreement and understand its terms