Brokerage Industry Slumps Again in February 2014. Really?

Updated 12:35 PM ET, Wed March 12, 2014
Brokerage Industry Slumps Again in February 2014.  Really?
"Here We Go Again"

If you read our article about slumping industry sales in January 2014, you are absolutely going to love this follow-up article.

Just like the last article, I just received an email about this new article authored by YachtWorld and posted on Trade Only, which is one of our primary industry magazines and is read religiously by almost every dealer and broker in the boating industry.

Below is a quick link to the actual Trade Only Today article:
Brokerage sales drop in February

The article is authored by YachtWorld, who runs and is therefore privy to the vessels sold by all reporting brokerages. A quick review of the article indicates that overall sales in the brokerage industry are going the wrong way. Units sold across all brokerages in February 2013 were 1,729. This February, that number is now 1,607. That's a drop in sales of 7% year-over-year.

So, one would think brokerage sales are down. If they're down 7%, no one can be up, right? If someone is up, no one is up big, right? Just like with January, one would be wrong again. Our sales for the past 3 Februarys are listed below:

February 2012: 33
February 2013: 56 (increased by 69.7%)
February 2014: 96 (increased by 71.4%)

We're on a screaming tear, growing at 71% over last year's February results. If you do the math, our sales numbers represent 5.97% of all brokerage sales in the USA in February. That's 6 out of every 100 boats sold. Therefore, if the company who represents 6% of the market is up 71%, the rest of the companies would have to be really far down for overall sales to be down 7%, right? Again, like January, that's how we see the math also.

In this article, we're not going into all the fantastic reasons why we are growing. We did that in January's article, and all those reasons also hold true for February.

If you are looking to sell your boat, and you would like to use a broker for the safety and security of a professional sale, why would you be looking at anyone else?

Please allow this shameless plug and a couple reasons why POP Yachts is the best choice:

- Our marketing agreement permits you to sell the boat on your own and you don't owe us a dime.

- Our contracts are more professionally written, protecting both buyers and seller equally in the transaction. Many brokerages depend on very buyer-friendly contracts, written when it was a buyer's market and they needed to make things attractive for buyers.

- Professional survey and showing scheduling, using an independent team to ensure everyone arrives at the correct place and time, weather permitting.

- Full local support - We will come out and take 100 or more photos, including a video.

- Larger audience - we advertise all boats on 160+ websites. No one comes close to our reach. They may say they will - they don't.

- We have the most visited brokerage website in the world, counting more than 1.4MM page views monthly - we receive more than 200 unique inbound buyer leads per day on our vessels.

- Secure escrow services and direct access to the Federal wire system (through Wells Fargo), allowing us near-instant wire deliveries.

This list goes on and on...

Regarding the January article, there was interest by a customer in our prior year sales numbers . We are, if nothing else, a transparent company and we certainly don't mind providing. We began operations in August 2009, so the first February we had was in 2010.

February 2010: 3 units
February 2011: 8 units

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