Live and let’s sell – broker Hall on ‘living the deal’
The name’s Hall. James Hall. Licence to sell. It’s a neat intro for the broker who recently sold the 37m yacht Never Say Never Again. His mantra “Live the deal” even has the makings of a new film.
But for Hall, a broker with TWW Yachts, the motto is not about the “push, push, push” of a single-minded salesman, it is about being fully engaged, building trust and guiding his clients throughout.
And he believes the uncertainty in the world right now presents a golden opportunity for the better brokers to show their value.
“The market has certainly cooled,” he says. “There’s still interest from buyers, but there’s nowhere near the volume. Yachts are emotional purchases but there’s a bit more logic going into it right now.
“This is a time for the more experienced guys to really shine, because we’ve got the opportunity to really help guide our clients.”
Black book
Hall studied yacht manufacturing and surveying at university before 16 years with Sunseeker, ending as superyacht sales manager. He also had a stint at fellow UK yacht builder Princess as director of its flagship M Class yachts before joining TWW. His shipyard experience and commercial acumen meant the boutique brokerage was a “good fit” for both parties.
“Being able to understand the whole process from start to finish adds huge value to your client and gives them trust,” he says.
“Once you’re into a deal, you’ve got to live it and make sure you follow every single step and get into the detail of everything.”
Once, while onboard a near-50m yacht for sea trials, Hall was able to step in when the local agents were “making a big issue” out of one aspect relating to the engines.
Hall delved into his black book and made a few calls and was able to connect the local engineers with the manufacturers to explain the situation.
“This thing was turning into a massive disaster but suddenly it was now a non-issue,” he says. “The skill set is being able to identify when there is a real problem and when there is not and understanding where the tension points are.”
Hall recently sold the 37m Benetti B.YOND Never Say Never Again.
Councillor
In the early days with TWW, Hall worked closely – and still does – with MD David Westwood, absorbing the traits of the role and tailoring them to his own style.
“It’s about listening to people and learning,” he says. “We’re a boutique brokerage and we work as a team. I’m a big believer of never trying to be the hero on your own.”
Then there were technical aspects such as working with the MYBA contract for the first time. “I was more familiar with an 80-page new-build contract, which is much more detailed, but the MYBA contract’s got nuances in it that you need to be aware of,” he explains.
As a broker with a global list, Hall says the key is to be a “chameleon”, able to adapt to the different cultures and behaviours of his clients and understand what they are trying to achieve.
“Normally it’s deeper than just wanting a yacht,” he says. “A lot of these clients want someone they can trust who has their best interests at heart.
“My wife says with some clients I’m almost like their councillor, but they like calling me to talk about random bits and pieces because you build a relationship with them.”
Sometimes that means steering a client away from a yacht they had set their heart on because it is not the right fit. A recent client came to him with photos of a “fantastic” boat he wanted to pursue but after studying the specifications and with one eye on re-sale value, Hall suggested they go in a different direction. Their search continues.
“It looked glossy on the front, but we looked underneath the hood and very quickly he understood,” he says. “People really appreciate that, because it’s very easy just to sell something and push, push, push. You’ve got to do it in the right way with the right moral compass.”
Hall sold the 50m Feadship Emerald.
Emotionally excited
Knowledge of the market and how and when to negotiate is another part of the broker’s armoury. It might be knowing when to reduce the price or accept an offer or what is a real issue in a survey report compared with someone “trying their luck”, according to Hall.
“There are always clients who will only do a deal if they feel like they’re winning on every level,” he says.
For Hall, deals are a process to be worked through before moving onto the next.
“I like talking to clients, I like deals, I like getting yachts sold,” he says.
“I’m very happy in each case but I don’t get emotionally excited or proud when we close a deal. Probably the one I got most excited about was the very first yacht I ever sold, about 20 years ago when I was 24, which was an 82ft Sunseeker.
“The guy walked onto the stand at the London Boat Show and nobody else gave him the time of day. He had braces on and an untucked shirt and didn’t look promising, but we sold the boat there and then.”
The recent sale of the Benetti B.YOND 37m Never Say Never Again completed the circle for Hall and his long-term client after buying the yacht together from the shipyard three years ago.
He’s a client I’ve known a long time and he wanted to own one more yacht,” he says. “It happened to tick all the boxes and he did extensive cruising on it for 18 months and then decided it was time to sell the boat.
“I flew out for the surveys and I flew out for the closing in the Bahamas a couple of weeks ago,” he says.
Neatly, that’s where the movie Never Say Never Again ends too.
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