Should You Sell It Yourself?

Broker commissions on used boats are typically 10%, a good incentive for selling a boat yourself.

Selling it yourself has drawbacks, however. You will be responsible for keeping the boat in selling condition. And, since most boat shopping occurs on weekends, expect to be tied down during your time off.

Finally, like many others, you may simply dislike negotiating. If you decide to use a broker, check references from past customers. Most states do not require any form of boat broker licensing. Brokerage agreements may take any one of the following three forms. It's best to keep agreements short-term in case the broker isn't successful. Ask for frequent progress reports. Remember, like a realtor, a boat broker represents the seller's interest, not the buyer's.

• With an open listing the owner can sell the boat himself (commission-free) while listing the boat with a number of brokers.
• An exclusive listing is given to a single broker who can earn a commission even if the owner sells the boat.
• A central listing splits the commission between the listing broker and a broker who actual manages the sale.