Co-Ops by Jack Buckley

By January 14, 2016The Yacht Business

Co-Operation
In a recent article I referred to the best parts about being a Yacht Broker and I am sure each of us has our own personal list of reasons and history that brought us to this lifestyle. I would like to suggest that an important component that binds us to this profession is the co-operative nature of our relationships with other brokers and salespeople. Can you imagine how uncomfortable and unfriendly our relationships between each other would be if we did not co-op our listings between ourselves and other brokers. The strength of our business is supported by the fact that we function as a group. You bring clients to my boats and I bring your listings to my buyers. The purpose of being a group and of our co-operative agreements is to provide a process to improve the volume and consistency of each of our businesses and of our incomes. Your membership in the California Yacht Brokers Association facilitates and improves the co-operative nature and enhances the trust between you and the other broker members. If your business is like the average, more than half of your sales come through co-ops. Either your listed boat is sold by another broker or your listings did not match with your buyer needs but you were able to find a suitable boat for them within the listings of a co-operative fellow broker. If listing sharing was not a part of our brokerage business each of us would be in a much more competitive environment. Each of us would be pushing our clients to pick one of our exclusive listings as the best boat for their needs. If we were unsuccessful in that effort, we would be stuck and our clients would be forced to establish another relationship with another broker in the search for their perfect boat. We would not have any reason to talk to each other, help each other, or encourage each other. We would mistrust and avoid each other and some might potentially open themselves to unethical practices in order to pursue business. Most people and families wanting to enjoy the boating lifestyle will decide that a used boat is the right choice for them. Pre-owned boats offer variety for the buyer and the choice of potentially perfect boats is enormous. Fortunately, the brokerage community does enjoy a history of friendly co-operative sharing of listings between brokers. The CYBA helps keep transactions friendly and professional by providing a secure process for those brokers wishing to increase their opportunities by working with other brokers and salespeople. Our buyers have a much better chance of finding their true dream boat and our sellers have more opportunities for a quick sale and good price when we all co-operate. Plus, we all make more sales and more income by co-operating with each other. The best part of our co-operative nature, of course, is that this business becomes an enjoyable and prosperous lifestyle for all of us.
Good Selling to you all,
Jack Buckley