The 7 Tips to finding your perfect broker or manager:
COMPARE AT LEAST THREE REPUTABLE BROKERAGE HOUSES
No matter how well recommended one company may be, or how well you may already know them, before you take a final decision on who to work with, ask at least three reputable brokerage companies to make a presentation to you on what they have to offer and what they are prepared to do to win your business. You will be astounded by how much ‘added value’ you can benefit from by comparing brokerage houses.
BEWARE THE FACADES
Big isn’t always beautiful and small isn’t always bespoke.
Placing your yacht with a company that already has a number of other yachts the same size as yours on their books may mean you miss out on some offers or added individual care. Placing your yacht with a small agency may give you a keen, enthusiastic team but without the technical capacity or market ‘clout’ to do justice to your yacht. Find the company you feel has a fleet in which your yacht will attract attention but equally one that has been around long enough to garner a respected network of industry suppliers, clients and contacts that can be properly worked to your advantage.
PROTECT YOUR OWN MEDIUM TO LONG-TERM INTERESTS
It is a sad but unavoidable reality that brokers paid purely on commission, in any industry, are focused on earning commission, even if that sometimes means doing deals that may not always be in your own best medium to long term interests.
It is also true, again sadly, that the long tail of the recession has left some companies in precarious financial positions. So when comparing your three candidates, find out if they are commission-based or salaried – this changes the fundamental approach they will have towards you and your business. Enquire who owns the company and, if needs be, run some simple checks on their financial health. It is not going to help you if you decide to build or buy or have your yacht managed by a company that may not be around in a few years’ time.
And remember: a brokerage house with a management, charter, sales and purchase division will always be keen to provide all those services for you, so they will more likely be focused on the medium to long-term with you than one that simply provides only part of the service.
GET UP CLOSE AND PERSONAL
If you don’t gel with the character presenting his wares to you, and if he or she is the one you will have to work with…don’t chose them! No matter how many great things you have heard about that company! Yachting is a ‘people business’. You will have many exchanges with your broker or yacht manager over the course of your yachting life, exchanges over strategy, pricing, costs and service. When you can relate to the person you are dealing with, positive things result. When it’s with someone you already don’t feel comfortable with, you are simply adding a major headache and time drain to your daily schedule and that is not what yachting is meant to be about.
BEWARE THE ‘YES’ MEN
As good a feeling as it might be to hear someone agreeing to everything we say and ask for, in business that should send out warning signals. How many times in yachting do we see clients signing with brokerage houses having agreed certain Asking Prices only to find they are being reduced after only six months or one year on the market sometimes by as much as 40%? How often have clients given their yacht for charter to brokerage houses only to find their yacht under-booked by 50%? Avoid that unnecessary disappointment by asking each of the brokers presenting to you, whether for charter management or for sale, to show you some real statistics as to how many weeks of charter they have placed on similar yachts in their fleet or real final selling prices of yachts similar to yours that have sold recently. Better to get the reality before you sign than after.
SEARCH OUT THOSE WHO WANT TO GROW
…and ideally those who are already coming from a position of strength! A company focused on growth is one that will be focused on ensuring you are part of that growth. And that is to your benefit.
IF IT’S NOT FUN…CHANGE YOUR BROKER
So when deciding which three brokerage houses you want to hear from, here are some factors many of our clients today considered before joining YPI. If this sounds like a good fit for you, as indeed it was for our existing clients, do give us a call.
What does YPI have to offer?
YPI offers pretty much the same services as any reputable, tried-and-tested, full service yacht brokerage house anywhere in the world. The Group has specialist divisions for sales and purchase, refit and new construction, charter management, charter retail, full yacht management (see this article for more information), crew placement and operational accounts.
It is the way in which we deliver those services that makes such a difference.
YPI is not a sales company that provides management or charter as an add-on. It is not a management company paying lip service to charter or crew. The Group is made up of four specialised, stand-alone divisions each with their own dedicated team of experts including:
· Sales & purchase with refit and new construction expertise
(including a successful specialist sailing arm)
· Charter Management and Charter Retail
· Full service Yacht Management (including ISM, ISPS & MLC)
· Crew recruitment & placement
SOLIDITY & STRENGTH
With a team of 40, we are part of the 157 year old worldwide shipping group BRS employing over 400 marine specialists, enjoying all the financial solidity, expertise and network strength that entails.
LOOKING BEYOND THE SALE
Our sales and charter brokers are salaried – they are not ‘commission only’. The YPI Group takes a view of the long term – all broker expenses, their marketing, communication and travel is paid by the Group to ensure no actions are overlooked on grounds of cost. We employ a team of marine accountants, legal experts, marketing specialists and support staff to ensure the maximum efficiency of each broker or yacht manager working with your yacht.
MANAGEMENT SKILLSET & EXPERIENCE
Only experienced captains, chief engineers, surveyors and shipping experts, well versed in the intricacies, laws, regulations and compliance in shipping and yachting get to make it to the post of Yacht Manager in YPI Management. Rest assured, that is the ultimate blessing for your Captain and a guarantee of efficient yacht management for you.
SEEKING NEW BUSINESS
We are now actively seeking new CA yachts for brokerage, charter and yacht management from 40 – 90 metres.
See how your yacht will fit into our fleets today:
· see our Sales Fleethere
· see our Charter Fleet here or
· contact our Management Division for details of our managed yachts.
Does your yacht stand out?
We have 43 years tried-and-tested experience in this industry- our parent group has 157 years in shipping. That’s a lot of experience being handed down through the years.
THE SPIRIT OF YPI
We are old enough to know what we are doing, young enough to have the energy to still do it and want more; small enough to give you the personal attention you need but big enough to negotiate your place in the worldwide market; passionate enough to care and humble enough to get on with the job of getting results.
If you are not happy with your yacht management…
If you are considering selling your yacht (especially if it is between 40 – 90 metres)…
Then why not consider YPI as one of your three brokerage houses to consult?
To find out more or arrange a private consultation or presentation, contact :