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.

Certified Professional Yacht Brokers

Find your cpyb.

Yacht Sales Professionals (brokers, dealers, salespeople) have a benchmark for measuring their skills, abilities and performance, while, at the same time, enhancing their marketing value. Boat sellers and buyers are in a better position to select qualified, competent sales professionals with confidence and trust.

If you want to set yourself apart, the certified professional yacht broker (cpyb) program is for you..

Get Certified

CPYB Certification is the mark of excellence for yacht sales professionals throughout North America.

Earning Certification

CPYB brokers have met professional qualifications and have successfully passed a three-hour examination, testing their skills and knowledge as yacht sales professionals. If you are committed to professionalism and have what it takes, we invite you to apply.

Renew Your Certification

Retaining certification ensures you stay current with industry trends.

As you know, staying competitive and successful requires a continuing commitment to educating yourself on the latest industry information and insights. That is why the basis of CPYB Recertification requires your participation in educational activities and professional involvement that help you to remain one of the most experienced brokers in the brokerage industry.

See How Companies Like Yours are Growing with CPYB

Upcoming pre-approved events, tue 26 2024, march 26, 2024 1:00pm - 2:00pm est, nyba: llc and tax exemption seminar, webinar date: march 26, 2024.

Join NYBA for a one-hour educational seminar from Fred Robinson of Robinson Law Firm, on the topic of LLCs and tax exemptions for non-resident owners. This is a great opportunity to brush up on your LLC and tax exemption knowledge ahead of the Spring Boats Afloat Show!

Wed 17 2024

April 17, 2024 2:00pm - 3:00pm edt, cpyb webinar: hosted by cyba, webinar date: april 17, 2024, january 2024: recognition for new cpybs.

Join us in celebrating the new CPYBs certified in January 2024.

Staley Weidman, CPYB named Sailboat Broker of the Year 2023 by the IYBA

The Certified Professional Yacht Brokers would like to congratulate Catamaran Company CEO, Staley Weidman, on being named the Sailboat Broker of the Year 2023 by the International Yacht Brokers Association (IYBA).

Certified Professional Yacht Brokers Award Don Finkle and Pat Sturgeon with the 2023 Dedicated Service Award

WASHINGTON, DC − On November 15, 2023, the Certification Advisory Council of the Certified Professional ‎Yacht Broker (CPYB) awarded the 2023 Dedicated Service Award to Pat Sturgeon —a CPYB and yacht broker ‎for Pat Sturgeon Yachts in Mississauga, Ontario and Don Finkle—a CPYB and yacht broker for RCR Yachts in ‎Youngstown, New York.‎

Certified Professional Yacht Brokers Award Brian Commette With Vincent J. Petrella Chairman's Award

WASHINGTON, DC − On November 15, 2023, the Certification Advisory Council of the Certified Professional ‎Yacht Broker (CPYB) awarded the 2023 Vincent J. Petrella Chairman’s Award to Brian Commette —a CPYB ‎and yacht broker for Northrop & Johnson in Newport Beach, California. ‎

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CPYB :: National Press Building 529 14th Street NW, Suite 1280 Washington, DC 20045 USA Phone: 410.940.6349 Email: [email protected]

©2024 CPYB Certified Professional Yacht Brokers All images and content ©2024 CPYB All rights reserved | Legal Disclaimer

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.

Uncovering the Global Yacht Scene: How Many Yachts Are There in the World?

What Are the Latest Yacht Design Trends in New York City?

© 2024 Yacht Dreaming

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 Sales Professionals (brokers, dealers, salespeople) have a benchmark for measuring their skills, abilities and performance, while, at the same time, enhancing their marketing value. Boat sellers and buyers are in a better position to select qualified, competent sales professionals with confidence and trust.

If you want to set yourself apart, the certified professional yacht broker (cpyb) program is for you., apply today, six reasons to become a certified professional yacht broker:, • distinguishes you among your peers, • indicates that your level of knowledge and its application has been tested, measured and verified to the highest business standards and protocols, • signals to your peers and clients that you follow a strict code of ethics and standard business practices, • demonstrates your commitment to staying current with industry trends and changes through continuing education, • establishes your commitment to advancing excellence in the industry, • enhances your earning potential by allowing you to stand out in the eyes of the boating public, consumers recognize the value of credentialing. in a crowded field, they view professional certification as a way to identify those individuals who will conduct business in an ethical manner and act in their best interest., for more information, go to www.cpyb.net or contact us at [email protected].

How to Become a Yacht Broker: The Ultimate Guide

Are you passionate about the ocean and have a keen interest in luxury yachts? If you dream of combining your love for boats with a

August 4, 2023

Are you passionate about the ocean and have a keen interest in luxury yachts? If you dream of combining your love for boats with a rewarding career, becoming a yacht broker might be the perfect choice for you. As a yacht broker, you will have the opportunity to work with boat owners and buyers, facilitating their transactions and making their dreams come true. In this comprehensive guide, we will walk you through the steps to becoming a successful yacht broker, from acquiring the necessary skills to building a strong network in the industry.

Table of Contents

Understanding the Yacht Broker Profession

Yacht brokerage is a specialized field that requires a deep understanding of the industry and the ability to connect buyers with sellers. To excel in this profession, it is crucial to grasp the responsibilities and requirements of a yacht broker.

Legal Aspects and Licensing Requirements

Before embarking on your journey as a yacht broker, it is essential to familiarize yourself with the legal aspects and licensing requirements. Yacht brokerage is regulated in many countries, and obtaining the necessary licenses and certifications is vital to operate legally and gain the trust of clients. Research the specific regulations in your region and ensure that you meet all the requirements.

Industry Knowledge and Expertise

Being knowledgeable about different types of boats, yachting destinations, and the latest industry trends is crucial for success as a yacht broker. Clients rely on your expertise to guide them through their yacht purchasing journey, so it is essential to stay updated with the latest developments. Dedicate time to research and immerse yourself in the yachting world, attending boat shows, reading industry publications, and networking with professionals to expand your knowledge base.

Understanding Buyer and Seller Needs

As a yacht broker, your role is to bridge the gap between buyers and sellers. To effectively serve your clients, it is crucial to understand their needs and expectations. Gain insights into the preferences of potential buyers, such as yacht size, features, and desired destinations. Similarly, understand the motivations and goals of boat owners looking to sell. By understanding the needs of both parties, you can facilitate successful transactions.

Developing Yachting Industry Knowledge

Yacht brokers need to possess in-depth knowledge about different types of boats, yachting destinations, and the latest industry trends. In this section, we will discuss various resources and strategies to help you enhance your yachting industry knowledge and stay up-to-date with the latest developments.

Industry Publications and Websites

One of the best ways to stay informed about the yachting industry is by regularly reading industry publications and websites. Subscribe to magazines and newsletters that cover topics such as yacht design , yacht sales, and industry news. Websites and forums dedicated to yachting are also valuable sources of information, providing insights into the latest trends, market conditions, and industry events.

Attending Boat Shows and Industry Events

Boat shows and industry events offer excellent opportunities to immerse yourself in the yachting world and expand your knowledge. Attend local and international boat shows where you can explore different yacht models, network with industry professionals, and participate in educational seminars. These events provide firsthand experience and insights that can enhance your understanding of the yachting industry.

Networking with Industry Professionals

Building relationships with industry professionals is crucial for gaining insights and staying updated on the latest happenings in the yachting world. Attend networking events, join industry associations and forums, and connect with yacht brokers, boat builders, and other professionals through social media platforms. Engage in conversations, ask questions, and share your own expertise to establish yourself as a knowledgeable and trusted professional in the industry.

Gaining Sales and Negotiation Skills

Being an effective yacht broker requires excellent sales and negotiation skills. In this section, we will explore various techniques and strategies to help you refine your sales pitch, build rapport with clients, and negotiate successful deals.

Understanding the Sales Process

Before you can effectively sell yachts, it is essential to understand the sales process. Familiarize yourself with the steps involved in closing a yacht deal, from initial client meetings to finalizing the transaction. Develop a systematic approach that ensures you cover all the necessary aspects and provide exceptional service to your clients.

Effective Communication and Listening

Communication is key in any sales role, and yacht brokerage is no exception. Hone your communication skills to effectively convey information, listen to your clients’ needs, and build rapport. Practice active listening, ask probing questions, and demonstrate empathy to better understand your clients’ desires and offer suitable solutions.

Building Trust and Credibility

Trust and credibility are crucial in the yacht brokerage industry. Buyers and sellers are entrusting you with significant financial transactions, and they need to have confidence in your abilities. Build trust by being transparent, honest, and reliable. Showcase your expertise and knowledge to establish yourself as a credible authority in the field.

Negotiation Techniques

Negotiation is a fundamental skill for a yacht broker. Develop negotiation techniques that allow you to achieve win-win outcomes for both buyers and sellers. Learn to identify areas of compromise, understand market dynamics, and effectively communicate the value of a yacht. Strive to create mutually beneficial agreements that satisfy all parties involved.

Building a Professional Network

Building a strong professional network is crucial for success in the yacht brokerage industry. In this section, we will provide tips and guidance on how to build relationships with boat owners, fellow brokers, and industry professionals, allowing you to expand your reach and increase your chances of success.

Attending Industry Events and Socializing

Industry events, such as boat shows, conferences, and networking gatherings, provide excellent opportunities to meet and connect with boat owners, fellow yacht brokers, and other industry professionals. Actively participate in these events, engage in conversations, and be genuinely interested in others. Socialize and build relationships that can lead to future collaborations and referrals.

Joining Industry Associations and Organizations

Joining industry associations and organizations is a valuable way to connect with like-minded professionals and gain access to exclusive networking opportunities. Research and join relevant associations such as the International Yacht Brokers Association (IYBA) or local yacht broker associations. Attend their events, participate in forums, and contribute to discussions to establish yourself within the industry.

Utilizing Social Media Platforms

Social media platforms are powerful tools for building and maintaining professional relationships. Create a strong online presence on platforms such as LinkedIn, Facebook, and Instagram. Share valuable content, engage with industry professionals, and showcase your expertise. Regularly connect with boat owners, potential buyers, and fellow yacht brokers to expand your network and increase your visibility.

Providing Exceptional Service and Building Referrals

Word-of-mouth referrals are invaluable in the yacht brokerage industry. Provide exceptional service to your clients, exceeding their expectations at every step. Satisfied clients are more likely to recommend your services to others, helping you expand your network and attract new business. Nurture your relationships with past clients and maintain regular communication to stay top of mind.

Marketing Yourself as a Yacht Broker

In today’s digital age, effective self-marketing is essential. In this section, we will explore various marketing strategies and platforms that can help you establish your brand and attract potential clients. From creating an impressive online presence to leveraging social media, we will guide you through the process of marketing yourself as a yacht broker.

Creating a Professional Website

A professional website is the centerpiece of your online presence as a yacht broker. Invest in a well-designed website that showcases your expertise, listings, and services. Include engaging content, high-quality images, and easy-to-use contact forms. Optimize your website for search engines to increase your visibility and attract organic traffic.

Social media platforms offer immense marketing potential for yacht brokers. Establish a presence on platforms such as Facebook, Instagram, and LinkedIn. Share engaging content, such as yacht photos, industry news, and client testimonials. Engage with your audience, respond to comments and inquiries, and leverage social media advertising to reach a wider audience.

Creating Compelling Content

Content marketing is an effective way to establish yourself as a thought leader and attract potential clients. Create compelling blog posts, articles, and videos that offer valuable insights and tips related to yachting. Share your expertise, answer frequently asked questions, and provide unique perspectives to engage your audience and position yourself as a knowledgeable professional.

Utilizing Online Directories and Listings

Online directories and yacht listing platforms provide exposure to a wide audience of potential buyers and sellers. Create profiles on popular platforms such as YachtWorld, Boat Trader, and SuperYacht Times. Optimize your listings with high-quality images, detailed descriptions, and accurate contact information to maximize your chances of attracting interested clients.

Gaining Practical Experience

Practical experience is invaluable in the yacht brokerage industry. In this section, we will discuss various ways to gain hands-on experience, whether it’s through internships, apprenticeships, or working for an established yacht brokerage firm. We will also provide guidance on how to make the most of your practical experienceto enhance your professional growth.

Internships and Apprenticeships

One of the best ways to gain practical experience in the yacht brokerage industry is through internships or apprenticeships. Seek opportunities to work with experienced yacht brokers or brokerage firms, where you can learn firsthand about the day-to-day operations, client interactions, and sales processes. This hands-on experience will provide you with valuable insights and help you develop essential skills.

Working for Established Yacht Brokerage Firms

Another option to gain practical experience is by joining an established yacht brokerage firm. Working alongside experienced brokers, you will have the opportunity to learn from their expertise, observe their sales techniques, and participate in real client transactions. This exposure will not only enhance your knowledge but also help you build a strong network within the industry.

Building Relationships with Boat Owners

Developing relationships with boat owners is a valuable way to gain practical experience and build your reputation as a yacht broker. Offer your assistance to boat owners looking to sell their yachts, even if it means starting with smaller transactions. By successfully closing deals and providing excellent service, you will earn their trust and may receive referrals to other boat owners in their network.

Attending Yacht Broker Training Programs

Yacht broker training programs are designed to provide aspiring brokers with the knowledge and skills needed for success in the industry. Look for reputable training programs that offer comprehensive courses covering topics such as sales techniques, legal aspects, and industry practices. These programs often include practical exercises and case studies to give you a hands-on understanding of the job.

Becoming a Licensed Yacht Broker

In many regions, becoming a licensed yacht broker is a requirement to operate legally and gain credibility in the industry. In this section, we will explore the licensing requirements and steps to become a licensed yacht broker.

Researching Licensing Requirements

Start by researching the specific licensing requirements in your region or country. Licensing requirements can vary, so it’s essential to understand the qualifications, examinations, and fees involved. Contact your local maritime authority or yacht broker association for detailed information on the licensing process.

Preparing for Licensing Exams

Once you have a clear understanding of the licensing requirements, start preparing for the licensing exams. These exams typically cover topics such as yacht sales regulations, ethics, and industry practices. Study relevant materials, take practice exams, and consider joining study groups or enrolling in preparatory courses to increase your chances of success.

Applying for a Yacht Broker License

After successfully completing the licensing exams, you can proceed to apply for a yacht broker license. Follow the application process outlined by your local maritime authority or licensing body. Pay attention to any additional documentation or fees required, and ensure that you submit a complete and accurate application.

Continuing Education and Professional Development

Continuing education is crucial in any profession, and yacht brokerage is no exception. In this section, we will discuss the importance of ongoing professional development and provide resources and recommendations for furthering your knowledge and skills as a yacht broker.

Attending Industry Seminars and Workshops

Industry seminars and workshops offer valuable opportunities to expand your knowledge and stay updated on industry trends and best practices. Attend events that focus on topics such as sales techniques, marketing strategies, and legal aspects of yacht brokerage. Take advantage of these educational opportunities to enhance your skills and network with industry experts.

Participating in Continuing Education Programs

Continuing education programs specifically tailored for yacht brokers can provide in-depth knowledge and advanced training. Look for programs offered by reputable institutions or industry associations. These programs may cover specialized topics such as superyacht brokerage, international regulations, or luxury yacht sales. By participating in these programs, you can demonstrate your commitment to professional growth and stay ahead of the competition.

Reading Industry Publications and Research

Stay informed about the latest developments in the yachting industry by regularly reading industry publications, research papers, and reports. Subscribe to magazines and online platforms that cover yacht sales, industry trends, and market analysis. Stay up-to-date with the latest advancements in technology, design, and sustainability practices to better serve your clients.

Networking and Collaborating with Industry Professionals

Networking with industry professionals is not only valuable for building relationships but also for learning from others’ experiences and expertise. Engage in conversations with fellow yacht brokers, boat builders, yacht designers, and other industry professionals. Collaborate on projects, share insights, and exchange knowledge. By actively participating in the industry community, you can gain valuable insights and stay informed about the latest developments.

Navigating Challenges and Building a Successful Career

Being a yacht broker comes with its own set of challenges. In this final section, we will address common challenges faced by yacht brokers and provide tips on how to overcome them. We will also offer insights on building a successful and fulfilling career in the yacht brokerage industry.

Building Resilience and Persistence

The yacht brokerage industry can be competitive and demanding. It is essential to develop resilience and persistence to overcome challenges and setbacks. Understand that building a successful career takes time and effort. Stay focused on your goals, learn from failures, and adapt to changing market conditions. With perseverance, you can navigate challenges and build a thriving career.

Adapting to Market Conditions

The yachting market is influenced by various factors, including economic conditions, global trends, and consumer preferences. Successful yacht brokers are adaptable and can adjust their strategies to meet changing market conditions. Stay informed about market trends, monitor industry news, and be flexible in your approach. By adapting to market conditions, you can position yourself as a trusted advisor to your clients and maintain a competitive edge.

Providing Exceptional Customer Service

Exceptional customer service is the foundation of a successful career in yacht brokerage. Strive to exceed your clients’ expectations at every interaction. Be responsive, communicative, and attentive to their needs. Build long-term relationships by maintaining regular communication and providing ongoing support. Satisfied clients are more likely to become repeat customers and refer your services to others.

Continuing Professional Growth

To stay ahead in the yacht brokerage industry, it is essential to continue investing in your professional growth. Seek opportunities for further education, attend industry conferences, and stay updated on the latest industry trends. Develop new skills, embrace emerging technologies, and explore niche markets to expand your expertise and broaden your client base.

Building a Strong Reputation and Network

A strong reputation and network are invaluable assets in the yacht brokerage industry. Deliver exceptional service, build trust with your clients, and establish yourself as a reliable and knowledgeable professional. Cultivate relationships with boat owners, fellow brokers, and industry influencers. Leverage your network for referrals and collaborate with others to enhance your professional standing.

Becoming a yacht broker is an exciting career choice for those who have a passion for yachts and the open sea. By following the steps outlined in this guide, you can embark on a journey towards a fulfilling and rewarding profession. Whether you are just starting or looking to enhance your existing career, the opportunities in the yacht brokerage industry are vast. With dedication, knowledge, and a strong network, you can turn your passion for yachts into a successful business.

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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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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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If you are looking to purchase a boat this year, don’t feel restricted by the location of the vessel, whether it’s in the Caribbean, the US or on the other side of Canada.

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If it’s the right boat for you, the North South Nautical Group brokers are fully equipped and prepared to act as your ‘Buyers Agent’. But, negotiating with the vendor’s broker is just ONE of the services we manage for every buyer.

When you purchase a boat with NSNG you can expect a full-service experience including negotiating the deal, interpreting the survey, secure handling of the funds and the completion of all the necessary paperwork and delivery options.

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• 2018 Boston Whaler 35 Outrage | Meticulously Maintained.
• 2005 Wauquiez 45 | Price opportunity. Vessel suffered only storm rig damage.
•  2001 Doral 39 Boca Grande | Large interior. Many great features.
• 1996 Tarquin 44 Trawler | Absolutely loaded.
• 1992 Jeanneau Sun Odyssey 44 | Fully equipped for long cruises.
• 1977 Derecktor Aluminum 46 | Diesel. Scott Kaufman design. World cruiser.

News & Updates

See you at the toronto boat show.

Put some summer in your winter and attend the 2024 Toronto Boat Show, January 19-28 at the Enercare Centre, (Exhibition Place) Toronto, ON. There will be over 550 exhibitors showcasing and selling thousands of boats and accessories from the industry’s top manufacturers and dealers. Now in it’s 66th year, it’s still the best place to shop, explore, and learn about …

Seeking A Yacht Broker To Join Our Team

Our brokerage firm is seeking an experienced Yacht Broker or seasoned sales professional from  a related industry with expertise and understanding of the Yacht industry and boats in general. This is 100% commission independent contractor position, with the potential to earn a six-figure salary. We are looking for someone who is an energetic self-starter, eager to grow with our business …

Patrick Kwasniewski Joins NSYS

Mike Burns, president of North South Nautical Group is pleased to announce that Patrick Kwasniewski has joined the brokerage team serving the South-Western Ontario area. Patrick began his career as a yacht broker as a boat-buyer. In 2019, he and his father decided to jointly purchase their first boat. After 13 viewings, as Patrick shares, ‘we found the worst possible …

Yacht Purchase And Delivery: Make It Seamless

If you are looking to purchase a boat this year, don’t feel restricted by the location of the vessel, whether it’s in the Caribbean, the US or on the other side of Canada. If it’s the right boat for you, the North South Nautical Group brokers are fully equipped and prepared to act as your ‘Buyers Agent’. But, negotiating with …

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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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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 5 years, I have been responsible for the sale of nearly $33 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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