One of the things that has always surprised me about yacht buyers is how much time they spend researching yachts and how little time they spend researching the person who will be advising them.

A superyacht is often one of the largest discretionary purchases an individual will ever make. Buyers will spend months studying specifications, layouts, shipyards and asking prices, yet many devote only a few minutes to considering who will actually represent them throughout the process.

In my experience, the broker you choose will have a greater impact on the outcome than any individual yacht.

Not all brokers are equal.

That may sound obvious, but it is worth saying. Just as there are exceptional lawyers, accountants and architects, there are exceptional yacht brokers and there are average ones. Choosing the right adviser at the beginning of the process can save enormous amounts of time, money and frustration further down the line.

Choose the Broker, not the Brokerage

One of the most common mistakes I see buyers make is becoming too focused on the size, age or profile of a brokerage company.

Large brokerage houses do have outstanding brokers. They can also have inexperienced brokers. Equally, some smaller firms are led by individuals with decades of experience and exceptional track records.

The important question is not which company you are engaging. The important question is who will actually be representing you.

It is not uncommon for the senior figure at a brokerage firm to attend the initial pitch meeting, only for the day-to-day work to be handed to a more junior broker once some form of engagement has been secured. The person who you originally thought would be involved has absolutely no oversight at all, often because they are actually running a company with over 100 employees!

Before selecting a broker, find out exactly who you will be working with.

What experience do they have? What transactions have they personally completed? Have they represented buyers on yacht transactions similar to the one that you are considering?

Most importantly, can they provide references from former clients who would happily work with them again?

Research by independent analysts found that more than half of the total value of superyacht brokerage transactions is handled by under 20 of the top individual brokers. Not companies. Individuals.

That tells you something important. In this industry, people matter.

Ask for references

If you were hiring a senior executive for your business, you would conduct proper due diligence. Buying a yacht should be no different.

Ask to speak directly with former clients. Not the brokerage’s clients. The individual broker’s clients.

Would they work with them again? Did they feel properly advised? Did the broker challenge them when necessary? Was the experience enjoyable?

A client may buy one yacht through a broker by accident, but they rarely buy and sell multiple yachts through the same broker without good reason.

In my experience, repeat clients are the best reference that any broker can have.

Experience matters

Experience in yachting is not simply measured by years in the industry.

It is measured by exposure to different situations, transactions and challenges.

A broker who has represented clients buying, selling, chartering and building yachts will inevitably see opportunities and risks that a less experienced adviser may miss. They should be able to explain not only what a yacht is, but whether it is the right yacht for you.

One of the most important jobs of a good broker is to challenge assumptions.

I often tell clients that we should start with the lifestyle and work backwards to the yacht.

Many first-time buyers arrive with a very clear idea of the yacht they think they want. More often than not, that yacht is not actually the best solution.

A good broker should have the confidence and credibility to challenge a client when necessary.

Access to the entire market

A good broker should show you everything that can be bought, not simply the yachts you can already find online yourself.

This is one of the greatest misconceptions among first-time buyers.

Many assume that speaking to multiple brokers will increase the number of opportunities they see. In reality, the opposite is often true.

Some of the most interesting yachts are never formally advertised for sale. Owners may be willing to sell quietly at the right price, but they do not wish to publicly market their yacht.

These off-market opportunities are often where the greatest value can be found.

One client approached us after already reviewing every yacht publicly available that matched his requirements. We ultimately introduced him to two yachts that he did not even know were available for sale. One of those became his yacht. That boat was the 50m Heesen ERICA, now named TOUTE SWEET. In fact, almost half of the business we do is “off-market” but this is one of the few deals where the client was happy for us to announce it. Off-market transactions are a much larger part of our industry than many people realise. In my experience, some of the most interesting opportunities never appear publicly.

Opportunities like this only exist because of relationships, trust and reputation built over many years.

A good broker has a network that extends well beyond yacht listings. Owners, managers, captains, family offices, lawyers and fellow brokers all contribute to the flow of information that create these opportunities.

Understand how your broker is paid

One area that causes considerable confusion for first-time buyers is how yacht brokers are compensated.

Many buyers assume that working with multiple brokers will somehow provide access to more yachts or create a financial advantage. In reality, the opposite is often true.

The first thing to understand is that in brokerage transactions, working with an experienced buyer’s broker does not increase the price you pay for a yacht.

The brokerage commission is typically paid by the seller and shared between the brokers involved in the transaction. Whether you are represented by a broker or approach a yacht’s agent directly, the commission structure already exists within the transaction so you’re not saving any money by going direct and in fact by doing so you are avoiding any representation and impartial advice on your “side” of the deal.

This is why I generally advise clients to select one broker they trust and allow that individual to represent their interests throughout the search and purchase process.

A good broker should provide access to every suitable yacht available for sale, whether publicly listed or quietly offered off-market. There is little benefit in having multiple brokers sending you the same yachts that are already available online.

By working through one trusted adviser, you gain a single point of contact who understands your requirements, your preferences and your budget. Every yacht discussed, every viewing attended and every conversation held helps refine that understanding.

The result is usually a more efficient search process and ultimately a better outcome.

Most importantly, there should be complete transparency. If you ask your broker how they are compensated, they should be able to explain the structure quickly, clearly and confidently.

A broker who struggles to answer that question should raise concerns.

I will explore yacht brokerage commissions and compensation structures in greater detail in a future article, but buyers should never feel uncomfortable asking these questions at the outset.

Loyalty works both ways

By all means, talk to several brokers before making a decision on who you want to represent you. In fact, I would encourage it. Ask the important questions about them first, rather than focus on yacht options though.

However, once you have selected the broker you wish to work with, I strongly believe that the process works best when there is an exclusive relationship and mutual trust in place.

Off-market opportunities are valuable information. Brokers are understandably cautious about sharing them if they know a client is simultaneously working with multiple competitors.

The reality is that a broker who knows they are representing you is more likely to invest significant time, energy and resources into finding the perfect yacht.

The relationship becomes more efficient as well.

Each conversation, each inspection and each yacht discussed helps the broker refine their understanding of your requirements and tastes. The longer the relationship continues, the better they become at identifying opportunities that genuinely fit your needs.

A good broker who feels comfortable that you are in this process together and for long run will not care whether it takes three months or three years to find the right yacht. Their responsibility is not to sell the next available yacht. Their responsibility is to help you buy the right yacht. 

They only get paid on the day they find you the right yacht, at the right price with the right contractual terms. Before that they are essentially working for free, giving you their time and advice, often incurring expensive travel and accommodation costs. As such, I can’t stress how important that mutual understanding is.

Of course, no broker “owns” a client and if you are not happy with your broker’s advice and work you are a free agent, but once you’ve made that decision to work with someone, my advice is to stick with them unless there is a good reason not to.

A good broker should sometimes disagree with you

One of the most important qualities in any adviser is the confidence to disagree.

If your broker’s favourite yacht always happens to be whichever yacht you liked most recently, you should probably be concerned. A good broker is not an echo chamber.

They are there to challenge assumptions, highlight risks and occasionally tell you things that you may not want to hear.

One client still laughs about the first meeting we had together. He arrived with a very clear vision of the yacht he wanted to buy. I explained in fairly direct terms why I thought it was a terrible idea. He was understandably surprised.

Since then, I have represented him on five separate yacht transactions.

That is what a good adviser should do. Their role is not to sell you a yacht. Their role is to help you buy the right yacht.

Negotiation, Credibility and Respect

Yacht transactions can be surprisingly complex.

On both sides of the negotiation table you often have highly successful and experienced entrepreneurs, family offices, lawyers, technical consultants and advisers.

Emotions can run high. People can become inflexible (sometimes irrationally so!) Negotiations can become tense.

A broker’s reputation within the industry matters enormously in these situations.

The most effective brokers combine toughness with diplomacy. They know when to push, when to compromise and how to keep a transaction moving forward.

They also understand market values.

Unlike many asset classes, there is no public register of completed yacht sales and achieved prices. A yacht’s asking price and eventual selling price can and regularly differ dramatically.

A few similarities can disguise a world of differences. Two yachts from the same shipyard, delivered in the same year and of similar size can have vastly different values based on maintenance history, certification, cosmetic condition, interior design and countless other factors.

A good broker understands these nuances and can help ensure that you only pay market value (or hopefully less!).

As I often tell clients, it is very easy to buy the wrong yacht for the wrong price. The real challenge is buying the right yacht for the right price.

Make sure the process is fun

This might sound like a strange point in an article about selecting a broker, but I think it’s so important.

Buying a yacht should be fun.

Yes, it is serious business. Yes, it is often the largest luxury purchase somebody will ever make. But ultimately, what you are buying is fun. The process should therefore also be enjoyable.

During the process, you will spend time travelling together inspecting yachts, discussing ideas, sharing meals. Most searches take many months. Occasionally they take years.

One client and I spent more than three years finding the right yacht and we had a lot of fun along the way.

There was never any pressure. There was trust, patience and a shared understanding that we would only proceed when the right opportunity appeared.

The journey itself should be part of the enjoyment.

Think Long-Term

The best broker-client relationships are measured in decades rather than transactions.

A good broker should have a trusted network of lawyers, surveyors, yacht managers, technical consultants and operational specialists that can support you long after the purchase is complete.

More importantly, they should genuinely care about the long-term outcome.

The best brokers are not focused on making a sale.

They are focused on creating a successful ownership journey for you. Because happy owners remain in yachting.

They buy, sell, upgrade, build and charter over many years.

Conclusion

Choosing the right yacht broker is one of the most important decisions you will make during the acquisition process.

Look beyond the company logo.

Look beyond the marketing.

Focus on the individual.

Assess their experience, their reputation, their references, their network and their willingness to challenge you when necessary.

Most importantly, ask yourself one simple question:

Do they feel like a salesperson, or do they feel like an adviser?

The answer will usually tell you everything you need to know.