how to become a yacht broker in ontario

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Certified Professional Yacht Brokers

Yacht Sales Professionals – YSPs (brokers, dealers, salespeople) nationwide have a benchmark for measuring their skills, abilities, and performance, while enhancing their marketing value. Boat sellers and buyers are in a better position to select qualified, competent sales professionals with confidence and trust. The Certified Professional Yacht Broker (CPYB) program has made this dream a reality.

What is a Certified Professional Yacht Broker?

Thanks to the joint efforts of the Yacht Brokers Association of America (YBAA), International Yacht Brokers Association (IYBA), Northwest Yacht Brokers Association (NYBA), California Yacht Brokers Association (CYBA), Boating Ontario, Gulf Coast Yacht Brokers Association (GCYBA) and British Columbia Yacht Brokers Association (BCYBA), over 550 YSPs have earned the CPYB designation, with another 100 applicants now preparing for the exam.

Become a Certified Professional Yacht Broker or further your CPYB training and receive a $150 MarineWorx bursary to help fund your career.

Yacht Brokerage

Who is this course suitable for, whether you’re already an experienced broker or you’re looking to make the transition to this vibrant industry in a junior capacity, the diploma in yacht brokerage is applicable to anyone working within a yacht or charter brokerage environment..

Modules: 12 in total

About the Course

Over the years this course has been updated to reflect all aspects of the constantly evolving yacht brokerage industry. Module subjects include essential matters such as registration, title rules and regulations, yacht brokers and the law, business management and valuation along with other challenging subjects such as insurance, finance, sea trials and chartering.

Course Structure

The course consists of 12 modules. All students are required to successfully complete and pass the module assignments. Diploma students will also be required to sit and pass a final examination.

1. An Introduction to the Yacht Brokerage Industry

• Yachting safety
• The purchase of a yacht
• The law and yachts
• Health and safety for the yacht broker
• Customer relations & common courtesy
• Brokerage companies and organisations
• The essential resources for a yacht broker

2. Types of Vessels & Technical Descriptions

• Basics of design
• Definitions of the principal dimension
• The shape of hulls
• Types of vessels
• Sailing boats
• Sails and rigging
• Motorsailers
• Inland waterways vessels
• Mechanical propulsion devices
• Materials & their construction
• Internal equipment
• Electronic & navigation equipment
• Technical standards
• Basic operational knowledge
• Weather and tides

3. Registration, Title Rules and Regulations

• The role and function of registration
• Registration and the certification of registry
• Admiralty law and jurisdiction
• International maritime law
• Documentation
• National and international standards
• The Royal Yachting Association Training & Qualifications

4. Boat Brokers and the Law

Legal concepts

• English Law and the National Legal System
• The law of contract
• The law of tort (negligence)
• Liability in contract and tort

Sale of goods

• UK legislation
• Trade descriptions

Business practice

• Value Added Tax (VAT)
• Recreational Craft Directive (RCD)
• Title & registration
• Marine insurance

5. Business Management

• Starting a boat brokerage business
• Chosen product
• Obtaining listings, photography, advertising and publicity
• Go and see the vessel and crawl over it yourself
• Responsibilities of the different brokerages (listings and selling)
• Getting the vessel on your books
• Marketing and selling
• The sale process
• Communications, ethics and client relations
• The five big thoughts

6. The Surveyor in Practice

• The surveyor
• Organising and completing the survey
• Types of surveyors
• What makes a good surveyor?
• Types of surveys
• The role of the surveyor and the sale process
• The broker/surveyor relationship

7. Sea Trials

• Sea trial and the broker
• The purpose of the sea trial
• Engine tests
• Steering tests
• Other system trials
• Information recording and reporting

8. Valuation

• Valuation methodology

9. Insurance

• The legal side of marine insurance
• The practical side of marine insurance
• The marine trades policy

10. Finance

• Sources of finance available to the broker and the decision criteria
• Title registration and the influence on options for finance
• Liens and encumbrances
• Corporate ownership and the rationale
• Financial Conduct Authority (FCA)
• Client funds, trust, deposits and escrow accounts
• Miscellaneous finance topics

11. Charter Yacht Brokerage

• Why get into the charter yacht industry
• Different types of charter
• Structure of the yachting industry
• Getting started
• Finding yachts for your clients
• Different types of charter yachts, toys, amenities and crew members
• International chartering areas and their respective seasons
• Itineraries
• Finding clients
• Sales training & closing the deal
• Financial transactions
• Preference sheets
• Clients & customer care
• Niche marketing
• Charter yacht booking

12. Yacht Sales

• Sales and brokerage
• Franchise / dealership
• Introduction to superyacht brokerage
• Role of the broker
• Campaign – be prepared
• Purchasers profile & preferences

Career Pathway

Career path: There is not one single defined career path. In larger yachts many professional yacht crew retrain as yacht brokers in order to be able to come ashore and yet remain in contact with the marine world.

Salary: Can be from a starting level of commission only up to huge sums (millions) for a successful few who sell superyachts. The average annual salary for a yacht and small craft broker in the United Kingdom is around £38,000.

Duties: Finding clients who wish for their yacht to be sold, checking all legal aspects of the right to sell the vessel, obtaining a detailed and accurate description of the vessel, and presenting it in the best possible manner (without misleading). Promoting the vessel to obtain interest and organising viewings. Acting as the intermediary between buyers and sellers and being the glue that holds a sale together through the difficult times.

Meet the Course Director

Toby maclaurin.

Director of Sales ,  Ocean Independence

Toby began his maritime career as a trainee shipwright with Coombes Boatyard in the UK restoring and maintaining mainly classic yachts. A chance meeting with a yacht broker led to a part-time brokerage role at Ancasta International Boat Sales while undertaking an HND in Maritime Leisure Management at the College of Maritime studies in Warsash. Full time employment with Ancasta followed along with senior sales, business development and marketing roles at yacht builder Premier Yachts and then for Opal Marine, before joining superyacht broker and yacht charter specialist Cavendish White in 2002.

Following the Ocean Independence acquisition of Cavendish White in 2008, Toby is now Director of Sales and Marketing in addition to being a Group Board Member and Shareholder of the leading superyacht group and primarily based at the Zürich office in Switzerland. The role as Director of Sales and Marketing is exceptionally varied and primarily involves Toby providing day to day business and troubleshooting support for the group’s 50+ sales and charter brokers across 13 international locations.

Toby has served on the council of ABYA (Association of British Yacht Agents) and was elected to the MYBA (The Worldwide Yachting Association) governing board in March 2008, he then completed 4 years as MYBA President followed by 4 years as Chairman of the association’s commercial company All Yachting SAS, that owns and operates Yachtfolio.com and the MYBA Charter Show.

He has spoken at a number of high profile events and meetings, including the Future of Superyachts Forum, The Superyacht Owners Summit, Rothschild Private Bank annual client meeting, Posidonia Sea Forum and a special meeting of EU tax officials.

As an enthusiastic yachtsman, he has sailed extensively in the Mediterranean and Caribbean, he also has also completed two Atlantic crossings in small sailing yachts.

DIPLOMA IN YACHT BROKERAGE

On passing the Diploma, you will receive the above icon. Please use it on your business cards, LinkedIn profile and website(s)!

You can also use these letters after your name: MTA Dip YB

While the nature of distance learning is independent study, we recognise the importance of support. Students can contact us at any time during their course for assistance and our team of industry experts are always on hand for advice.

We have over 50 industry experts writing, developing and advising on our course material. We truly believe that allowing students to tap into their expertise and knowledge is of the utmost importance to fulfil your dream career.

If you would prefer to complete this as a classroom-based course, please contact us.

How long do the courses take to complete? What's the difference between a Diploma and a Certificate? Read through our Frequently Asked Questions below to find out the answer.

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Yacht Dreaming

How to Launch Your Yacht Brokerage: A Step-by-Step Guide

Introduction

Launching a yacht brokerage business doesn’t have to be overwhelming. With the right knowledge and a well-thought out plan, you can be up and running in no time. Start by researching the yacht industry, obtaining the necessary licenses, and creating a sound business plan.

Location, and website setup will follow, and you’ll be able to build a client base and market your business. With a little forethought and dedication, you’ll be well on your way to success.

Overview of Yacht Brokerage as a Business

Yacht brokerage businesses act as intermediaries between buyers and sellers of yachts. As a broker, you will work with both parties to negotiate a suitable sale price and complete the transaction. The money you make comes from the commission you earn on each successful sale.

To get started, you will need to do some research in the yacht industry, get licensed, and develop a business plan.

You’ll also need to secure financing, find a business location, create a website, and build a client base. Once you’ve got your business up and running, you can focus on marketing and managing it for success.

It’s important to remember that running a successful yacht brokerage requires dedication and hard work. You’ll need to stay up to date with trends in the industry, have an eye for detail, be a great negotiator, and have excellent customer service skills. You should also have a good understanding of the financial aspects of the business, such as pricing, contracts, and insurance. With the right approach, you can launch and manage a successful yacht brokerage business.

Steps to Starting a Yacht Brokerage

Starting a yacht brokerage business can seem daunting, but it can be done with the right preparation. Begin by researching the yacht industry to get a sense of trends, the current market, and what your competitors are doing. After that, you’ll need to become licensed, create a business plan and secure financing.

Then you’ll need to decide on a business location, create a website, and start to build a client base.

You’ll want to develop a marketing plan to get your name out there. You’ll need to stay organized and on top of your finances in order to manage your business successfully.

This can seem intimidating, but it’s totally doable. Make sure to stay up to date on the latest industry news and trends, as well as your competitors. And don’t forget to use your relationships to help you build your business. Networking is key to making it in the yacht brokerage biz.

Researching the Yacht Industry

It’s important to do your research before launching a yacht brokerage business. That includes researching the yacht industry: what types of boats are popular, what trends exist in the market, and what your competition is like. Knowing this information can help you make informed decisions about what types of boats you should specialize in and what strategies you should use for marketing your business.

It can help you keep up-to-date on the latest industry developments. Researching the yacht industry doesn’t have to be a daunting task.

Start by talking to local boat owners and industry experts, including yacht brokers and boat dealers. Attend boat shows and other industry events, and read up on industry publications. Once you have a better understanding of the industry, you’ll be better equipped to make decisions that are right for your business.

Becoming Licensed

Becoming licensed is an important step to starting your own yacht brokerage business. Yacht brokers are required to hold certain state and federal licenses in order to do business.

Look into the licensing requirements for your state and in the surrounding states in which you plan to do business. It’s important to understand the regulations and make sure you meet all the criteria in order to stay compliant.

It’s also a good idea to invest in any additional educational requirements, such as a boating safety course. This can help you get the necessary certifications and boost your credibility as a broker.

Make sure you research the different courses and certifications available to you and make sure you enroll in the right ones. Be sure to do your due diligence and research the laws and regulations in your state. Make sure you understand what is required of you in order to become a licensed broker and that you are fully compliant with all the rules and regulations. Taking the time to understand these things now can save you a lot of headaches down the line.

Developing a Business Plan

Creating a business plan is an essential step in launching a successful yacht brokerage. It provides the structure and vision that will guide the business and help you stay on track. When developing your plan, be sure to consider your target market, your competitive advantages, and the financials of your business.

You’ll need to make assumptions about the future, such as what the market will look like in five years and how you’ll adjust your business plan if certain conditions arise.

A good business plan should be comprehensive yet concise, and updated regularly. Start by setting SMART (specific, measurable, attainable, relevant, and time-bound) goals and objectives that you can use to track and measure your progress. Include financial projections, marketing plans, and operations plans, as well as an analysis of the competitive environment and legal requirements.

Make sure to include a risk assessment that outlines potential pitfalls that may threaten your business. With a thorough, well-thought-out business plan in hand, you’ll be ready to launch your yacht brokerage!

Securing Financing

When you are starting a yacht brokerage business, it is important to make sure you have the necessary financing. To do this, you should consider seeking out venture capital, angel investors, loans from banks or other financial institutions, and other forms of private equity. Make sure that you have a good understanding of the different types of financing available and how they could benefit your business.

It is important to have a financial plan and budget in place to help you stay on track.

It is also important to research any potential grant programs that are available to you. Many grants are designed to help small businesses, such as yacht brokerages, get off the ground.

You should also explore government loan programs that may help you get the necessary capital for your business. It is important to network with other entrepreneurs and business owners who may be able to provide you with advice or financing.

Reach out to those in the yacht industry who may be able to provide you with guidance or insight into starting a brokerage business. You should consider attending networking events to meet potential investors or lenders. By taking the time to research, network, and explore the different financing options available to you, you can ensure that your yacht brokerage is successfully launched.

Finding a Business Location

Finding the right business location for your yacht brokerage is a critical step. When looking for a spot, consider the size of your business and the amount of space you’ll need to accommodate any staff you plan to hire. Also think about the visibility of the location, its proximity to your target market, and the availability of parking for customers.

Don’t forget to factor in the cost of rent, as you’ll need to make sure it’s within your budget. Once you’ve narrowed down your options, it’s important to take the time to visit and inspect each location you’re considering.

During this stage, pay attention to the condition of the property and its proximity to other local businesses.

You’ll also want to check out the public transportation options and determine if the location will be easy for your customers to access. When it comes to signing a lease, be sure to read the fine print and understand the terms of the agreement before putting pen to paper. If you’re not comfortable negotiating the terms of the lease, you can always enlist the help of a real estate attorney who can make sure you’re getting the best deal.

Creating a Website

Creating a website is an important step in launching your yacht brokerage business. With an up-to-date website, you will have a great way to showcase your services and a platform to reach potential clients.

To create a successful website, start with a good design. Use visuals, such as pictures and videos, to attract attention. Your website should also be easy to navigate, with clear menus and search options.

Make sure the website is optimized for mobile devices.

Once the design is ready, fill the website with content. Include services you offer, contact information, and a blog section. Remember to keep the website updated with fresh content on a regular basis. This will help ensure that your website remains relevant and interesting for potential clients.

Marketing Your Business

Marketing your business is essential for its success. Here are some tips for successful marketing of your yacht brokerage:

Start by developing a good marketing strategy. You’ll want to look into options like social media, email campaigns, and even print advertising. Make sure your message is clear, concise, and focused on the value that your brokerage provides. You’ll want to be sure to have a clear call to action in every piece of marketing material. You should also take advantage of networking opportunities. Whether it’s attending trade shows, joining business associations, or even just meeting with local yacht owners, networking can be one of the most effective ways to grow your business. Don’t be afraid to be proactive and make contact with potential clients. Don’t forget to make use of referrals. Word-of-mouth marketing is one of the most powerful forms of advertising and can be a great way to get your brokerage in front of potential customers. Make sure to thank existing clients for their referrals and offer them incentives like discounts or special offers.

Tips for Successful Yacht Brokerage Management

Successful yacht brokerage management requires careful planning and focus. Start by researching the specific yacht industry to understand the dynamics and competitors in the area.

Develop a comprehensive business plan with comprehensive objectives, financial projections, and marketing strategies. Don’t forget to become licensed and secure the necessary financing before launching your business. When you’re ready to start your yacht brokerage business, make sure to find the perfect physical location.

Create a website to reach new potential clients and showcase your services.

Make sure to build a complete, diverse client base by actively marketing your business. Don’t neglect the operational side of the business: make sure to stay organized, comply with all industry regulations, and provide excellent customer service. By following these steps, you can ensure that your yacht brokerage business is a success.

Start with strong foundations and be prepared to pivot and adjust to changes in the industry. Above all, focus on building long-term relationships with your clients to guarantee a successful yacht brokerage business.

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How to Become a Yacht Broker: Requirements Explained

Fun fact: U.S. boat sales can reach heights of up to $41 billion bucks each year. And while most people want to join the frenzy by saving up to buy their own boat, other clever cats join in on the big business by selling the boats. Yachts in particular can sell for a very pretty penny. So hopping in on the craze by starting a career as a yacht broker might get you a sweet slice of that $41 billion dollar business.

But although it might seem pretty lucrative to become a yacht broker, you can't really just head to the dealership and take on the role. On the contrary, there are quite a few hoops you might have to jump through to start a career in the yacht sales business. Wondering how to become a yacht broker? Here's what the job requires.

Basic Knowledge of the Business

First of all - would you buy a car from a guy who's never driven one? Exactly. Before you even think about becoming a yacht broker, you have to make sure you know what to tell your buyers. First hand experience with yachts should give you the upper hand in the business so that you know exactly how to sell a boat's good points and how to take attention away from its flaws.

Yacht brokers need to know the need-to-knows of the business. If you don't have a boat of your own, then you can visit your local marina and talk with the boat owners there. Visit a dealership and ask about boat specifics. You can even do research at home. It pays to know everything there is to know about boats if you want to really get your buyers to seal the deal especially if you don't have a lot of sales experience yet.

CPYB Certification

For the record - certification isn't required if you're wondering how to become a yacht broker. In fact, not a single brokerage requires it since they're more interested in experience in sales and skills. But it is helpful for buyers who want to make sure they’re dealing with someone with a good sales record.

That's exactly what certification is for. Presently, only the Yacht Brokers Association of America ( YBAA ) offers a course for certifying brokers, providing the title Certified Professional Yacht Broker (CPYB.) Applicants must be able to provide several documents to start the certification process. These include:

• Proof of present employment as a yacht broker for at least 1 year
• Proof of employment as a yacht broker for at least three years in the past 10 year period
• Proof of ethical yacht sales and necessary documentation
• A dedicated escrow/trust account for all client funds in trust
• Where applicable, the individual holds all necessary licenses required by the local government
• No violations for the last seven years of any surety or Codes of Ethics of any brokerage organizations or groups that the applicant is a part of
• Pass the CPYB exam

Individuals who comply with these requirements (among several others) are eligible to obtain certification as a Certified Professional Yacht Broker from the Yacht Brokers Association of America.

Alternatively E-learning courses and seminars are also helpful for developing skills. The Association offers courses on warranties, insurance, marketing, co-brokerage, and all of the nitty gritty details of being a yacht broker.

These e-seminars can be helpful in providing insight so you can navigate the work of selling boats, offering important knowledge on specifics that you might not be able to find anywhere else.

Do You Need a License for a Yacht Brokers Career?

To be clear, there are very few states that actually require a yacht broker to have a license . As of writing, only the states of Florida , California, and Virginia require yacht brokers a license to practice their trade through the local government. Other states have no yacht sales regulations.

The requirements for acquiring a license change between states, but you might expect some of these requirements to pop up during the process:

• At least 18 years of age
• A fixed place of business
• Employed as a yacht broker as your primary occupation in another state for at least three years OR
• Own and operate a business selling new or used yachts in the state for at least three years immediately after applying for a license OR
• Employed as a licensed yacht broker for at least a year out of the last five years in the state
• Relevant certification from the YBAA and licenses

These are a must for licenses in California, but Florida and Virginia might require completely different documents and regulations. Licensing process fees can cost you between $200 and $300 to become a licensed broker, depending on the place you're in. It may be helpful to check locally to get a better idea.

Renewal of licensing may have to take place annually depending on local regulations, but it can be different for different states. In some cases, you might also have to complete and pass a written exam to ensure that you're knowledgeable on the specifics of the industry before you can become a licensed broker.

Education, Degree, and School Requirements for the Career

Is a degree a must to become a yacht broker? Yacht brokerages will usually prefer employing yacht brokers with at least a Bachelor's Degree, but it's not uncommon for high school graduates to get jobs as yacht brokers. Of course, a college education and a Bachelor's Degree in business, marketing, sales, or any other related course can be helpful, but you will find it's not always a must in most states.

Selling yachts and sealing deals aren't really skills they teach you at high school -- you get that from years of sales experience. If you've got the chops to make sales and you know the ins and outs of yachts, then it shouldn't be impossible to get a job as a yacht broker -- even without a college degree or an extensive background in school based education especially if you pass the brokerage's exam and requirements.

How Much Do Yacht Brokers Make?

What's a yacht broker salary like? Yacht brokers work on a commission just like any other broker or salesperson career, which means that they make more when they sell more. According to statistics, a successful yacht broker can make a salary of as much as $120,00 a year if they're dealing with higher end yacht models. But that's a very generous estimate of what real figures actually look like.

If we're being realistic, a yacht broker can make an average of about $70,000 a year. That places their weekly salary payout at around $1,300 to $1,400. Of course, peak seasons do exist where sales increase, earning them an extra $500 to $1,000 a week if they're lucky.

Another helpful piece of information is that the amount they get in terms of commissions isn't permanent. Most brokers will ask for 10% of the total sales, but there are net commissions and percentage commissions.

With a net commission agreement, the broker gets the exact amount agreed with the clients regardless of whether or not the yacht is sold for a lower or higher price after negotiations. On the other hand, percentage commissions will earn the broker a specific percentage of the successful sales, which is affected by negotiations made on the sale.

You'll also have to consider the situation if there's a broker working for the buying end as well. The listing broker and selling broker will often have to split the commission from the sales. So if the clients agree to pay a 10% commission on the sale, the brokers won't get 10% each, but will instead get 5% each for a total cut of 10%.

Tips on How to Become a Yacht Broker

• First of all - connections are key in this career. Expand your network by visiting boat shows, dealerships, and other places where you can meet new people in the industry.
• It's helpful to ask a pro. Find and train at a yacht brokerage under licensed or experienced yacht brokers with lots of sales experience to get a better idea of the intricacies of the sale and relevant skills and knowledge.
• You must learn to accept rejection. Yachts are expensive, and even the most interested buyers can back off of a deal when their budget won't allow it.
• Maintain previous contacts. Prospective buyers who didn't push through in the past might be more comfortable to purchase a boat later in the future. It may be helpful to keep in touch.
• Be likable. You and your competition are all selling the same boats. It's your personality that will make all of the difference.
• Go online. A lot of your prospective buyers exist on the internet. If you want to reach a wider audience, try your hand at online marketing.
• Be teachable. If you don't have a lot of experience or a degree in marketing or business, make up for the school deficit by attending seminars and learning courses to expand your knowledge and skills.

FAQs About How to Become a Yacht Broker

Is it hard to become a yacht broker.

All jobs come with their own unique set of challenges. Becoming a successful yacht broker requires persistence and lots of exposure to the actual job. You will find that there are intricacies you'll only learn once you're out on the field since they're not taught in school or in textbooks. Work with a more experienced broker to learn more about what it takes to secure those sales.

What about luxury yacht brokers?

Selling luxury superyachts and gigayachts can earn you massive income in a single transaction, but it's not quite as easy as selling small fry. You're going to need lots of sales experience since you're going to deal with a yacht brokerage and corporations instead of not private individuals.

They might also be more particular about making sure their brokers education, preferring those that have a Bachelor's Degree in business, marketing, and other appropriate courses and not just a high school diploma. It's always best to start out with smaller boats and then work your way up by joining a brokerage firm for luxury yachts for the super rich clientele.

Quitting Your Day Job?

If you're thinking about quitting your day job to pursue your passion for boats, then it pays to know how to become a yacht broker. You'll find that it will take some serious sacrifice and learning before you can call yourself a success in the industry. But with the right contacts, proper licenses and experience, and lots of practice and exposure, you might just be able to secure for yourself a high paying job that puts you in the company of some of the richest communities around.

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How To Become A Yacht Broker

Jul 19, 2016

Professional yacht brokering is an appealing career for many people who have a maritime background and live close to the water. How does one go about becoming a yacht broker? What steps should you take in order to successfully become a licensed broker? Let’s look at some fundamental requirements one must consider in the pursuit of becoming a broker.

It’s important to understand the industry of boating before diving into this career path. Being familiar with different boat brands is key; you wouldn’t start selling cars with any knowledge of car brands. This will serve as a base for understanding the prices, quality, performance, and manufacturing quality of individual yachts. Having this basic comprehension will pave the way for smooth sailing when dealing with experienced and amateur customers.

Certifications:

The Yacht Brokers Association of America strongly recommends that new brokers receive their CPYB (Certified Professional Yacht Broker). This certification is not mandatory for yacht brokering, but it puts potential customers in a more comfortable situation. To become eligible for certification, one must have at least three years in sales/yacht brokerage, a history of using and maintaining legal contracts, required licenses, and proof of appropriate trust accounts. The certification process concludes with an exam that determines if one is fit to become a certified broker.

Only a few states actually require new yacht brokers to have a license. States that do require one will need to see evidence of a background in sales, more specifically experience under another licensed broker. Another portion of states will require an administered background check in order to continue the licensing process. Next, yacht brokers may have to take out surety bonds in order to protect their clients and themselves in case of a financial emergency. After acquiring your license, it’s important to note that state rules and regulations state that you must renew your license pending a specific amount of time.

A bachelor’s degree is the standard to find employment in yacht brokering, although having a GED or no formal higher-level education could be sufficient depending on the situation. Ultimately, having a strong knowledge of boats and boating culture can take you far in this field, it is more than possible to become successful in yacht brokering without a college degree.

In the end, anyone can become a yacht broker. If you are motivated, like to make your own hours, and have a thorough knowledge of everything boating…you are on the right track. If you have any questions, or have any of your own tips for becoming a yacht broker, please leave a comment!

Interested in becoming a yacht broker? Join our team today! Contact us at [email protected] or call our office at 910-239-9344. Learn more here!

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The Howorths

Looking For A New Career? How To Get Into Yacht Sales

If you’re looking to enter the job market, or are looking for a change of career, why not consider becoming a yacht broker at a luxury yacht brokerage ?

As you may imagine, this job entails travelling the world, attending international boat shows and yacht fairs, forging deals with the rich and famous and touring luxury yachts, but what else does it entail?

What does it take to become a yacht broker? 

What are the skills you need to become a yacht broker, are there any specific qualifications you require, and what kind of compensation can you expect? Let’s take a look.

Why yacht sales?

Why boat sales? If you are passionate about yachts and life on-the-water, a career as a yacht broker might be for you, allowing you to work in an area that you genuinely enjoy and understand. Your passion will shine through and help you sell yachts all the better. 

What skills do you need for yacht sales?

To succeed in this highly competitive market, it will help if you are a confident people-person, capable of networking, negotiating and of winning the trust of some of the world’s most influential and demanding individuals.

A solid understanding of yachts is essential, and you’ll need to keep up-to-date regarding market trends, such as the recent developments in sustainable yachting and solar powered yachts.  

Excellent verbal and written communication skills are vital, as is a knowledge of digital marketing and promotion. You’ll also be expected to know about cruising grounds and all the industry rules, regulations and ethical standards.

You’ll need to be professional, self-motivated and trustworthy, and committed to providing excellent customer service. You must be able to pay attention to your clients’ particular needs, placing them above your own gain. As you will be selling high-value items, you will need to look the part, too, dressing with elegance and style.    

How do you get into yacht sales?

Experience in sales and a passion for yachting will help get your foot in the door, and it’s worth starting at some of the smaller brokerages to get a solid base of experience, before working your way up to the high-end superyacht brokers.

Once you are working in a brokerage, you can start looking into gaining recommended certification and association membership, which will help towards building your reputation, while creating access to professional links, networking resources and regular industry news.  

The Association of Brokers and Yacht Agents (ABYA) offer a Professional Yacht Brokerage Course, or you could aim for a British Marine Boat Retailers & Brokers Boat Sales Qualification, which recognises the competence and experience of those selling new and second-hand boats. 

What is the commission on a yacht sale?

Most yacht brokers work on a commission basis, of which the industry standard is typically 10%, paid by the seller. When dealing with superyachts, the commission usually works on a sliding scale, with 10% on the first $10 million of value, 5% on the second and 2.5% on anything above that.  The distribution of commission between the yacht buyer representative and yacht seller representative is usually 60/40, but can sometimes be split 50/50.

If you have all the right skills and enthusiasm, are presentable, self-motivated and confident, there is no reason why you shouldn’t be able to join a reputable luxury yacht brokerage and excel in the exciting world of yacht sales.

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How To Become A Yacht Broker

I consider becoming a yacht broker one of the best decisions I have ever made.

In 2016 I jumped feet first into the yacht, boat, and ship brokerage industry with little experience but with incredible passion. Selling yachts was my first job out of college and is still my only post graduation job, aside from working on this website and building other websites.

I even turned down a job offer from Google to work in the yacht industry!

One of the many benefits, in my opinion, of being a yacht broker is that the job is semi seasonal. While the definition of seasonal will change depending on where you work, not being busy for the full 12 months allows me time to offshore fish, build websites , travel, and much more.

How I Became A Yacht Broker

While in college I started a drone photography and videography business as drones, at the time, were still new to market and the barrier to entry was high.

I started by filming short video clips for car dealerships and real estate agents, but I wanted to incorporate my passions of saltwater fishing and yachts with photography.

One day I cold emailed the most reputable “fishing centric” yacht brokerage in San Diego, California and offered my drone services free of charge. Fast forwarding, this free video offer lead to monthly paid work for over a year. During this year period I was becoming more immersed in saltwater fishing and built up a small following on social media.

Upon graduating from college, I approached the owner and asked for a sales position at the brokerage, to which I was added to the team immediately. Over the last 9 years, I have been responsible for the sale of over $60 million in yachts and boats.

How Much Does A Yacht Broker Make?

Researching the compensation for a particular industry or position is important before making a career move.

In most cases, a yacht broker is not paid a salary, rather paid solely on commission. The standard industry commission is 10% based on the selling price of the vessel. This means compensation can range from $100,000 to over $1 million per year.

In my experience, the harder you work the more you will earn as the job is purely commission. There will be months, or several months, where you don’t bring home any income, but when the season is in full swing you will be glad you’re paid on commission and not salary.

Yacht Broker License Information

It’s fairly easy to become a yacht broker or a yacht salesperson. These terms often get lumped together as the same, however a broker owns the company where the salesperson “hangs” their license under.

Only two states in the United States required a license to sell yachts and boats. Florida requires a license for those selling vessels over 32’ that are not their own, and California requires a license for those selling vessel over 16’ that are not their own. The other 48 states are more lax, so I would suggest speaking to a local brokerage in your state about their rules.

How You Can Become A Yacht Broker

Nearly anyone can become a yacht broker or a yacht salesperson, but not everyone will succeed at the job. Below is a list of traits and actions that can help you get into the category of yacht brokers who earn a substantial living.

1. Be Driven 

As mentioned earlier, this job is purely commission based so you need an excellent work ethic and a “go getter” attitude in order to generate income. Yes you can sit back and not do much work, but when starting out and building your client base, this will lead to lackluster results. Be willing to walk the docks, advertise, leverage social media, and look for opportunities to spread your name and services.

There will be some months where you don’t earn any money, just know that this will happen and be prepared. Have some money set aside to get through the slow times, but on the contrary, when the market is on fire, the sales come quick and steady. 

In any business, honesty is vital for longterm success. Boats and yachts have countless systems and nuances, so when asked a question you don’t have the answer to, simply say you do not know but will find out. Follow up with your client the same day with the answer.

When it comes to negotiations, stick to your guns and don’t become intimidated. There is a time and place to offer a reduced commission or to help bridge a survey allowance gap, but don’t make this your automatic go to.

2. Have A Passion For Boats and Yachts

Your body language and attitude, whether intentful or not, will be analyzed by prospective buyers and sellers, and if you don’t show passion for what you’re talking about, then this will be apparent.

Many buyers and sellers have chosen to work with me because they could sense my drive and passion for their needs. I highly encourage you to be genuinely excited to show or preview a vessel because you can always learn something new, plus the water is your office…it doesn’t get much better than that.

Having prior sales experience will be helpful in making a seamless transition into the yacht sales industry, but I’ve found it’s not a requirement. As your deal flow increases, transactions will become easier but for the first year or two there will be a lot of learning moments throughout the sales cycle.

When starting out, take as many listing as you can to get experience learning about different boat platforms and brands, as well as work out all the kinks that can arise during negotiations, paperwork and closing.

3. Excellent Communication and Follow Up

This section separates excellent brokers from mediocre brokers. While this may be the most important aspects of the job, I think it requires the least amount of text.

• Always tell the truth and be honest…if an unpleasant conversation needs to be had, do it quickly and with a phone call opposed to sending an email
• Always stay in contact with your clients…whether they are a prospect, in contract on a boat, or a past client, maintain contact often
• Follow up early and often…be preemptive in your communication, pre addressing and questions before they become questions…a simple text message or two sentence email with an update is often all that is needed for your client to instill additional trust in you

4. Contact Local Yacht Brokerages For An Open Position

Once you have a good understanding of what you’re entering in to, it’s time to start looking for a brokerage to work under.

If you’re totally new to the industry, I recommend using Google to find reputable brokerages in your area, or you can see which brokerages advertise in the back of Yachting Magazine or Marlin Magazine for example.

For those with some experience within the boating industry, you should have somewhat of an idea of which brokerage houses are the most reputable in your area.

There is no better way to land a job than walking in and asking to speak to the owner or manager. Bring a resume and be prepared if the decision maker wants to talk right then. Even if a position isn’t available today, stay in contact via email so that when an opening does occur your name comes to mind.

Selling yachts for a living has offered me many opportunities that I could have never had without this employment. If you’re ready to work hard, then I encourage you to take the plunge immediately. The first 12 months will be difficult, but after that the learning curve begins to flatten.

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TRAINING INFORMATION

Why would you train with us, years of experience.

Chris Jones has worked in the yachting industry for over a decade and has worked closely with the best people in all parts on the yachting business

Complete Expertise

From working on boats to owning boats, working in yacht management, to starting his own brokerage, Chris has been on all sides of yacht transactions

We Want To Help

Chris has been a life and business coach for the past 5 years and now wants to apply it to yacht brokers to help people become successful in the industry that we all love

still not sure? here's a sneak peak...

How to get a buyer excited to buy, what if they don't want to sign an offer agreement, and here's more to peak your interest...

6 Steps to Objections

1. Hear them out (listen to their objection without Interruption)

 2. Feed it back (asking them to elaborate the objection) 

3. Question it (ask how critical the objection is to making the final decision) 

4. Answer it (choose strategy - which closing technique you'll use to overcome 

5. (Can't give you all of our secrets!)

6. (Nothing in life is Free)

4 Visual Buying Signs

What's something exciting your business offers? Say it here. 

1. Leaning forward or leaning in 

2.(Something Important that subscribers get to see) 

3. (Oh, you didn't notice this? Its because you haven't purchased your subscription yet)

4. Nodding Head

4. Warming up smiling Showing affection to each other (husband wife)

Typical Monthly Maintenance Plans

Most common - Typically - 2 washes, 1 bottom cleaning, 2 system checks

4 washes, 1 bottom cleaning, 4 system checks

Uncommon - 1 washes, 1 bottom cleaning, 1 system checks

Most common - 1 wax every 6 months

Best for the boat -  1 wax every 3-4 months

Oil change - every 12 months

Fire system re-certification - every 12 months

Bottom Painting - every 12 months

(Come on, if you're a boat owner, you should know this last one)- every 3 years

Become a Yacht Broker with MYS

This is a Yacht Broker training program to get you into yacht sales with My Yacht Sales.  

It includes access to all of the videos, documents, tips/tricks for one year.

Note that all MYS Yacht Brokers have unlimited access for free. 

Existing Yacht Broker Training

This is a Yacht Broker training program for existing yacht brokers who want to learn how to sell and become a broker for MYS.  

It includes access to all of the videos, documents, tips/tricks for three months. 

This is a Yacht Broker training program for existing yacht brokers who want to learn how to sell.

It includes access to all of the videos, documents, tips/tricks for one month. 

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How To Become A Superyacht Broker

When it comes to brokerage, there are 2 breeds: “the Boat Brokers” & “the Yacht Brokers”.

If you go on LinkedIn right now and search for ‘Yacht Brokers’, you will find nearly 2500 results, but when you search for ‘Boat Brokers’, you will only find 160 results. Well, yachts are much more glamorous than boats!

A few years ago, when I began as a boat broker, I remember meeting a guy in my building’s elevator on the way to work one day.

He asked me what I did for work so I responded “yacht broker”.

I couldn’t believe how he reacted to those 2 magical words. It was like time had stopped. His facial expression immediately changed and he looked at me with the most profound admiration and said “Whaou, yachts! Fancy!”

Every month I receive messages from readers asking me how to become a “yacht” broker. So I wanted to go behind the scenes of this intriguing profession and more specifically, the elite of the industry. The ones who serve the 0.001% — the superyacht brokers.

Being a great superyacht broker takes much more than being connected to the rich and famous or hanging out drinking cocktails with a nice suit on the deck of a superyacht.

A great superyacht broker must not only have in-depth knowledge of the new vessel and existing market, but must also have relationships with clients, builders and support professionals. The larger the yacht the more complex it becomes. Crew management, engineering, maritime law, classifications, insurance, naval architecture, tenders & toys, are only some of the things that should be taken into consideration during a large vessel transaction.

During the last Cannes Boat Show, I asked one of my friends who sells yachts for a recognized brand of trawlers from 50′ to 90′, who he thought was the best broker he knew. He said Richard Lambert from Burgess. I actually knew Richard from the time he was at OceanStyle. I remembered meeting him on the dock a few times and recalled his friendly and professional attitude but was also impressed with his resume and progression in his career.

I reached out to Richard, and with no surprise, he accepted to share a few of his tips with our community. Richard is currently Managing Director Asia and Senior Broker at Burgess. For those of you who are not familiar with the superyacht world, Burgess is one of the global superyacht industry leaders in sales, purchases, new construction, charters, and management of luxury superyachts.

So without further ado, let’s review Richard’s interview:

1) Tell us a bit about yourself and what did you do to become a superyacht broker?

I have always had a passion for sailing and the water and while at School and University I was a sailing instructor. This led to yacht charter and brokerage initially for  Princess  in the UK and then Mallorca before starting my own business and then returning to the UK. I started with  Burgess  in 2005 to focus on the semi-custom market and we launched OceanStyle.

2) What do you think differentiates a boat broker from a yacht broker? In other words, what would the difference be in the process of, for instance, listing and selling a 35′ boat versus a 100′ brokerage boat?

The principals are the same in theory, however, in our industry, the key factor is the relationship that you build with the client. This is vital at the larger end of the market as you can be dealing with a client for years before they decide to move ahead with a purchase.

3) In working with other brokers to help them improve their sales results, I often see 2 major barriers of improvement:

i. Their constant desire to put their product before their customers in the selling equation.

ii. Their lack of persistence and follow-up due to the fact that boat sales are often a long selling cycle.

I am curious to know how those particular barriers affect your organization and what actions you are taking to increase your sales performance and customer satisfaction?

As I mentioned above, the relationship with the client is paramount, it is important to listen to their needs and make sure that you as their broker are prioritizing their requirements. This does not mean that you cannot guide and advise them and ensure that they are making an informed decision, but it is important to listen to their needs and realize that this is a profession where you have to take the long-term view.

4) What are some of the interpersonal and technical qualities you look for when hiring a new yacht broker?

There are a number of qualities that I would look for aside from purely a passion for yachting. Patience, the ability to build relationships and professionalism are a few that I would see as priorities.

5) In your 11 years as a superyacht broker, what part of your job has been the most challenging and has required you to spend the most time on and why?

One of the most challenging periods was during the financial crisis, we experienced difficult market conditions and depreciation that we had not seen previously. Sellers were becoming frustrated that their yachts were not selling and buyers were making incredibly low offers. We still get some clients that are looking for a distressed purchase but I am pleased to report that those days have now passed. The way through this period was patience and honest communication of quantifiable market conditions.

6) What is the top sales or marketing advice that you would give to a young boat broker who is just getting started in this industry?

Gain experience where you can and do not expect to start as a superyacht broker. Ensure that you have done your research and always be honest, if you do not know the answer then do not lie.

7) I recently wrote a blog post on  the future of boating  and I am curious in knowing your opinion on where the market is heading and what you are doing to adapt?

It is a fascinating market and it is one that you need to consider globally, the appetite for building larger and larger still seems to be prevalent. However, I feel that the semi-custom proven platform with shorter delivery lead times will appeal, especially in emerging markets. The brokerage market is stabilizing and there are some significant signs that the market is stabilizing, fewer price reductions are an indication of improving market conditions and clients setting realistic asking prices. The quality builders have performed well in recent years and this is demonstrated in stronger resale figures. The market is driven by confidence and there is instability from a geopolitical standpoint which can destabilize these stabilizing conditions.

The Key to Becoming a Superyacht Broker As Fast As Possible

As you can judge through Richard’s responses, you can not expect to become a superyacht broker overnight.

Even though Richard started early in his career compared to the industry average, he had many years of experience before working with one of the top superyacht firms today.

Having said that, I’ve got good news for you.

And that’s this: you can fast-track your career.

How so? It’s simple really.

What you need is the right knowledge, the right insights, and the right training.

If you had these things, you could take years off your learning curve.

And that’s why I’ve put together the  Sales Masterclass : a 6-week training course that contains the practical know-how you need to break into the ranks of the most successful yacht brokers.

But, I’ve got to be honest… it won’t turn you into a superyacht broker overnight. However, and as far as I know, it’s the only thing that will fast-track your path to becoming one.

So, if you want to hit the “fast-forward” button, just hit the link below to learn more about the Sales Masterclass:

www.yachtsalesacademy.com/courses/sales-masterclass/

To your success!

— Vincent Finetti Founder & Instructor The Yacht Sales Academy

P.S. Try a listing strategy from my FREE Listing ebook here .

P.P.S. I’m doing an exclusive virtual Listings & Sales Workshop with a small group next month to go deep in applying my best strategies to your brokerage business.

Would you like to join us? If so, go here and enter your name and email for more details!

P.P.P.S Check out my client results here .

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Brokerage Services and Fees: What You Need to Know When Choosing and Buying a Yacht

Buying a yacht is a significant investment that requires time and expertise. If you lack the knowledge and time, you may need a yacht broker to help you through the process. However, many people confuse the role of a yacht broker with that of a real estate broker. This article explores the role of a yacht broker and the fees associated with buying a yacht.

The Role of a Yacht Broker

Yacht brokers play a crucial role in yacht buying and selling transactions. They have the necessary knowledge and experience to guide clients through the process. Unlike real estate brokers, yacht brokers offer specialized services tailored to the unique needs of their clients. They help with yacht search, brand recommendation, market pricing analysis, condition checks, advertising, and transaction support.

Brokerage Fees

The commission paid to a yacht broker is typically around 10% of the transaction value. However, for yachts costing more than $10 million, the commission is not more than 10%. The commission is usually shared between the buyer’s representative and the seller’s representative on a 60/40 or 50/50 basis. The commission is specified in the agreement between the boat owner and the broker and is paid after the transaction is complete. This motivates the broker to invest in the sale, knowing that their reward depends on it.

Payment and Transaction Process

The payment process for buying a yacht involves two payments. The first payment, usually 10% of the vessel’s cost, is made at the time of purchase. The second payment, which is 90% of the vessel’s cost, is made when all the transaction documents are ready, and the boat is complete. The boat is then removed from the register (if it is a secondary market), and a Bill of Sale is issued. The Bill of Sale is the main document indicating ownership of the yacht, and it is used to register the yacht in the owner’s country or a charter company.

MOA Yacht Purchase Agreement

The MOA contract is the primary contract used in yacht purchases. This contract fully protects the buyer’s rights. It cannot be found or downloaded from the internet, but a broker can provide it upon request. It is essential to read the contract’s terms since it may contain clauses requiring payment of a commission, even if the yacht is not sold.

Brokerage Fees and Negotiation

Large brokerage firms have fixed rates, and negotiation is not usually possible. Small brokers may be more open to negotiation, but this rarely happens since the brokerage community frowns upon it. A drop in one broker’s percentage can lead to a general drop in the market percentage, which is not desirable. Regular clients may receive preferential terms, but becoming a regular client requires owning several yachts.

Choosing and buying a yacht can be an overwhelming task. Working with a yacht broker can simplify the process and ensure a smooth transaction. The brokerage fees are usually around 10% of the yacht’s cost, and they cover a wide range of services, including advertising, condition checks, and transaction support. Before signing any contracts, it is crucial to read and understand the terms, including any clauses requiring payment of a commission, regardless of whether the yacht is sold or not.

Related Posts

Tips for buying a yacht or boat: what to look for before you buy, setting sail: tips for future ship owners, yacht financing: overview of financing schemes in europe.

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How to Become a Broker in Ontario

by  [email protected]

August 1, 2019

Last Updated on May 3, 2024 by Pichada Wangsangthong

A lot of people just starting out in the insurance industry will turn to Google for advice and information on how to become an insurance broker in Ontario. In doing their research, they might find snippets of information from different places or information that is downright confusing. With this one article, I’m hoping it’ll tell you everything you need to know about becoming an insurance broker in Ontario.

How to Become an Insurance Broker in Ontario – Step 1

The first step is to study for and pass your RIBO 1 Entry Level exam . This exam covers the basics that you need to know as a beginner broker. Examples of topics you’ll learn include: insurance law, contract law, home insurance, commercial insurance, liability insurance, automobile insurance, and travel insurance.

The exam is comprised of 100 multiple choice questions with 1 case study question worth 10 marks. Applicants need to score at least 75% to pass the exam. If you want to sell travel insurance, you’ll need to pass that portion as well.

I usually recommend students study about 3-4 weeks before taking the exam but many have passed in much less time. In the end, it’s a very individual thing but try to aim for 3-4 weeks so you give yourself a goal. RIBO 1 study materials are available on our website.

Whenever you’re ready, you can register for the exam with RIBO.

I Passed the RIBO 1 Exam! – Step 2

Congratulations on passing. But you don’t necessarily have your license just yet.

Now that you’ve passed the exam and received your certificate from RIBO, you need to start finding an employer to sponsor your license application. The job seeking process is very similar to what you’ve been doing with other jobs: you prepare a resume, research potential employers, write cover letters, you submit your application and hopefully get an interview.

Once you’ve gotten the job, you will complete the license application form with your employer. Once that’s done (and the paperwork has gone through), you will be the proud holder of a valid RIBO Level 1 license.

This license comes with certain restrictions. You’re only able to work under supervision, you cannot be the principal broker and you cannot handle trust funds.

To work independently, you need to pass the RIBO 2 Unrestricted Technical exam. To be a principal broker or run your own brokerage, you need to pass the RIBO 3 Unrestricted Management exam .

[April 30, 2024 UPDATE: RIBO has reorganized existing license classes into three new levels:

• Level 1 Licensees : Brokers holding Entry Level Broker or Level 1 competency (previously Acting Under Supervision and Acting Under Supervision (No A&S or Travel or Including Travel, No A&S)).
• Level 2 Licensees : Brokers holding Technical/Commercial competency (previously Unrestricted Technical classes and Unrestricted Technical (No A&S or Travel or Including Travel, NO A&S)).
• Level 3 Licensees: Brokers holding Management competency (previously Unrestricted classes and Unrestricted (No A&S or Travel or Including Travel, NO A&S)).]

More Questions?

This might be new to a lot of you so if you have questions, I have answers. Don’t hesitate to reach out .

Jacques Wong is the CEO and Director of Education at PNC Learning. An award-winning licensed insurance broker with over 15 years of experience in both education and the insurance industry, Jacques is recognized for his expertise and effective communication strategies. He achieved the highest provincial scores on his CAIB* 3 and CAIB* 4 exams and contributes to leading insurance publications. Jacques is dedicated to making insurance knowledge accessible for everyone through his unique approach and online content.

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Job requirements charter boat captain in ontario.

• Description
• Requirements
• Competencies

Find out what you typically need to work as a charter boat captain in Ontario. These requirements are applicable to all Boat and cable ferry operators and related occupations (NOC 75210).

Employment requirements

This is what you typically need for the job.

• Some secondary school education is usually required.
• On-the-job training is provided.
• Master, Master Limited or Small Vessel Operator Proficiency (SVOP) Certificate, issued by Transport Canada, is required for boat operators.
• Marine Emergency Duties (MED) training is required for boat operators and crew members.

Source National Occupational Classification

Professional certification and licensing

If this occupation is regulated, you may need to get a professional license from a regulatory authority before you can start working. Licensing can be compulsory or voluntary, depending on the occupation.

• If the licence is compulsory , you must be certified before you can practise the occupation and use the professional designation.
• If the licence is voluntary , you don’t need to be certified to practise this occupation.

Find out if this occupation is regulated and contact the regulatory authority to learn about the certification process.

Source Foreign Credential Recognition Program - ESDC

Find out where this occupation is regulated in Canada

Do you want to work in another province or territory?

If you are already certified to work in a regulated occupation in your province or territory, it will be easier for you to have your certification recognized in another province or territory. See the Workers Mobility's website to learn more.

Business Brokerage Regulations in Ontario, Canada

In Ontario and some other provinces in Canada, business brokers need to have a Real Estate licence and be affiliated with a registered Real Estate company in order to practice business brokerage. Business buyers and sellers have to verify that the business broker they are considering hiring is a licensed real estate sales representative or broker for the following reasons:

Real Estate companies in Ontario have to operate a Real Estate Trust Account with a Canadian bank. All monies received by real estate companies as deposit for real estate or business transactions should be deposited in the trust account. Money in this trust account is protected from creditors so that deposit owners get their deposit back even if the real estate company defaults.

Real Estate companies, Brokers and salespeople are bound by the Real Estate and Business Brokers Act that protects consumers with an elaborate code of ethics and strict regulations.

Practicing Business Brokerage without a real estate licence is illegal. Non licensed brokers are at the mercy of regulators and could be ordered by authorities to stop their activities at any time. All money, time and efforts business buyers and sellers have invested with such brokers could be lost.

Real estate registered professionals are required to have in their possession their registration cards. Clients are in their right to require to inspect this card at any time before signing any buyer or seller representation agreement. This is an easy task that all customers should do.

Competent business brokers offer tremendous value to buyers and sellers.

From a seller's perspective:

They help protect confidentiality: before divulging any specific information about the company; They will first qualify buyers and have them sign a confidentiality agreement. Only qualified buyers will know the name of the company and other relevant information.

They save a lot of sellers' time and efforts by interviewing potential buyers and only retaining the most serious ones.

They help sellers with all the specific business transfer skills such as negotiating and writing letters of intent, advising sellers on the best strategies etc.

Finally, they take care of all the marketing activities necessary to generate a high volume of leads to select from.

From a buyer's perspective:

The presence of a business broker insures that the seller is serious about selling his/her company and is realistic about the price because he/she has received professional advice about the sale process.

Buyers have a professional intermediaries who will do their best to make the deal happen and will solve any emotional frictions that might derail the deal.

Brokers can also analyze buyers' personalities and an past experiences to advise whether the businesses are the right fit for them.

These are only a few examples of how business brokers bring value to business deals for the benefit of both business buyers and sellers.