Central Agency Agreement

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If you are serious about the successful sale of your yacht, you should seriously consider a central agent. However, you must also qualify carefully and choose the right team and broker. Definition of central agent: the central agreement is an agreement between a shipowner and an intermediary, whereby the owner does not sell the vessel to someone other than the one that was brought through. A person entering into an exclusivity agreement cannot sell his vessel to others for the duration of the contract. Brokers are familiar with all paper requirements, from the first offer to the purchase and sales invoice, through licensing and registration; tax certificates, security agreements and other documents necessary to close a sale. They also include maritime and admiralty laws for the type of yachts they represent, as well as agency contracts, list agreements, final declarations, deposit requests and fiduciary accounts to protect funds. With an agreement through the Central Agency, a (1) broker is chosen by the owner as a central agent or CA. It is the exclusive agent to manage the sale of your boat, and it bears all the costs related to the marketing and sale of your boat, such as advertising that can be very expensive, mailings, including details of the yacht to its customers, the yacht sells on pleasure fairs, etc. He will also pass on the details of the yacht to other brokers (sub-list) who, if the central agent agrees, can also promote advertising and the yacht. Don`t include yourself in an exclusive 6-month or one-year contract without guaranteed effort and results.

Initially, you could accept an exclusive contract of 30 to 90 days, which could be extended to 6 months/1 year on the basis of pre-defined conditions. These conditions may be based on specific results and results that must be obtained by the team of brokers. They may, for example, contain evidence that they have produced a complete marketing package and a number of leads that they should bring. Such a package may include aerial photographs (drone videos), a virtual tour, passable videos, photography, a mini-website, etc. The purpose of the good central agency is to sell the yacht, not just to list it. At the end of the day, you are looking for a central agent capable of selling your yacht. Be sure to ask central agencies what planning and system they have in place and intend to sell your yacht. Then you should compare their method with that of others. Used yachts are either a “central agency list” of a yacht broker or a trade-in of a new yacht dealer. If you are interested in a list of brokers or a trade-in, the broker or trader will probably know the yacht inside and out.

You have been chosen by the owner/seller to represent exclusively this yacht and all requests must go through this yacht broker or yacht dealer. If you are not yet working with a yacht broker and you find a yacht of interest on the market, you should contact the online broker directly. However, a more rewarding option might be to choose a yacht broker and consult with that broker on all your yachts of interest and have them represented in your applications and transactions.