Archive for May, 2012

Bigger Benefits The Individual Seller

May 8, 2012
As Knot 10 has grown in listings, staff and locations I was thinking the other day of how that benefits a single seller. The benefits to our size for an individual come in things that most sellers may not think about but each one benefits by. The amount of advertising we do and wide range of boats offered brings a tremendous amount of inquiry and volume to our website, phones and traffic to our boats. The side benefit for the individual is that many times a person inquiring on a specific boat will not be dead set on that boat but more on shopping a style.
One could argue that a boutique small broker with 20-30 listings only pays more attention and focuses more on selling your boat but the reality of what we do is that now matter how hard we focus we can’t generate interest or produce a buyer from thin air. If a broker has only 2-3 similar express boats and little to no advertising the amount of inbound interest to cross over to these other boats is fractional compared to what we see. Case in point is this weekend one of our people took a client to 5 different Motoryacht listings we had between 37-40′ who had a budget of $100-$120k. That phone call came in as “You have a number of boats that fit what we are looking for and want to see them all in one day”. The broker with only 1 motoryacht of interest simply has a fraction of a chance to have what this client wants versus our model in comparison. Lastly we have staffed our operations not only with an extremely talented team but realizing the need as inventory grows to have the correct amount of people to serve that large incoming interest. When analyzed you would actually find our broker to boat ratio is lower then a single broker with 30-35 boats.
Once that shopper enters into our domain is where the size of our inventory benefits not only the buyer with many other similar boats to consider but directly the sellers who gain exposure from our sales team vetting out the buyer to define interest and put them on the right boat. More times then not when its a brokerage boat the buyer thinks he wants a 288 Four Winns only to switch over to a 32 Sea Ray once he gets into one or see’s a boat that he otherwise thought to big or too expensive. Other times the right boat is exposed to the buyer because our brokers see an exceptional boat we have just listed that otherwise the buyer would have never thought of. I can’t tell you how many older exceptional boats we sell that owners tried to sell on their own for a year that we sell in 2 months. The reality is time and time again we see a lead come in on a boat that ends up buying a completely different boat once we capture that buyer and work them to the right fit. The for sale by owner simply never sees anything but tepid direct interest versus the number of buyers we see which increase the chances of the finding a real buyer dramatically. So it gets down to size equating to leads, where having a bigger scope of inventory directly computes to more incoming interest. When you couple that with very our pricing strategies, photographic approach, experienced brokers and broad advertising you really begin to see how the larger we grow its true the more we sell but equally true the more the individual listing client benefits.
In the end our recipe produces results but its the blend of all the ingredients versus just one that makes it the best choice on the menu.
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