How To Get Your Yacht Brokers License?

The Certified Professional Yacht Broker (CPYB) program is designed for individuals who want to set themselves apart in the yacht brokerage industry. Eligibility requirements include at least three years of experience in sales and yacht brokerage, proof of appropriate trust or escrow accounts, and a history of using legal sales contracts. To become a CPYB, one must have at least three years of experience as a yacht salesperson and broker, and evidence of using legal sales.

To obtain a license as a Yacht Salesperson, an individual must complete an Initial Application, Application for a Yacht and Ship Employing Broker, and meet the basic requirements of having a high school diploma or equivalent and being at least 18 years old. To become a licensed yacht broker, one must fulfill the educational requirements and enroll in an approved yacht broker pre-licensing course.

To become a successful yacht broker, one must be driven, have a passion for boats and yachts, have excellent communication and follow-up skills, and contact the right brokers. The CPYB program offers a comprehensive education in Marine Law, Finance Insurance, legal documentation, negotiations, and the role of a Marine Surveyor. To apply for certification, individuals must pass the CPYB exam and prepare for registration.

How to become a superyacht broker?

To become a yacht broker, you should start by immersing yourself in the industry. Gain hands-on experience by working on yachts, demonstrating a strong work ethic, and building a network. Educational qualifications in maritime law, business, or finance can be beneficial. Obtain necessary certifications and consider specializing in areas relevant to yacht sales. Transitioning from related sales fields, like car sales, can provide valuable skills. Build a reputation for excellent service and in-depth knowledge of the financial aspects of yacht ownership and chartering. It’s a challenging field, but with dedication and the right connections, it can be a rewarding career path.

For more follow Merrill Charette and check out our full blog at mida.pro.

The world of yacht brokerage is as vast and deep as the oceans these majestic vessels traverse. It’s a realm where luxury meets expertise, and where the brokers who facilitate these grand sales are as knowledgeable about the high seas as they are skilled in the art of negotiation. “How do I get into yacht sales?” is a question that echoes through the docks and marinas, a testament to the allure of this prestigious profession.

How do yacht charter brokers get paid?

“For their dedication, yacht brokers receive a yacht broker agent fee or commission after the yacht sale is completed, which is typically 10%.The distribution of commission between the yacht buyer representative and yacht owner representative is usually 60/40. However, on certain occasions, the yacht broker commission split is 50/50.”

These representatives work very hard to ensure their yacht broker agent fee or commission. As read above, a seller’s representative will market the yacht and advertise it to interested parties as well as other brokers to help find a buyer.

A buyer’s broker will assure that the right yacht is:

How much does a boat brokerage charge?

Typically a brokerage will charge a sales commission of between 6% and 10% (plus VAT) of your boat’s final selling price.

The percentage charged mainly depends on your boat’s value; the lower the value, the higher the percentage charged, and vice versa. As a guide, for every £1,000 that your boat sells for, you can expect to pay between £70 and £120 in brokerage fees.

Is the boat you’re selling in an Aquavista Marina?. If you’re selling a boat in an Aquavista Marina but as a private sale, you will be liable for paying a sale on berth fee. This is a percentage based fee which is incurred when a boat is sold within any of our marinas. Alternatively, contact our brokerage team who will be glad to help you with the sale, offering free valuations and a fully-supported, stress-free experience.

How does yacht brokerage work?

They are agents whom people consult to find and purchase a boat, and whom people hire to list, represent, and sell boats for them. Traditionally, the seller pays the commissions that a yacht broker earns – not the buyer, yet brokers have a duty to both buyer and seller in every transaction.

Can you make money as a yacht broker?

Generally, the seller will agree to pay a commission to the yacht broker when the vessel sells (usually 10 percent of the boat’s purchase price). This commission will be paid to the selling broker at the closing. So even at this early stage the seller has professional representation in the transaction.

What is a super yacht broker?

Your yacht broker will ensure that all the documentation for the yacht is up to date and ready for the eventual sale. Assisting with the creation of specifications and inventories when needed, as well as exclusion lists for any items that you do not wish to be sold with the yacht. They will follow up with every enquiry received on your yacht and report back to you on a regular basis to ensure that you are kept abreast of every development in the sales process. Once a buyer is found they will act on your behalf during the negotiation process and coordinate sea trials and surveys before harmonizing the completion of the sale.

In order to sell your yacht efficiently the superyacht brokers at Fraser ensure that they are constantly up to date with the latest market knowledge and trends. Working closely with our in-house Central Intelligence Department they regularly monitor asking and selling prices, new additions to the market, price reductions and other trends. This highly specialist knowledge enables them to advise you on the latest market fluctuations to ensure that your yacht is priced and marketed effectively.

What is the yacht brokerage process?

After reaching an agreement, advertising your yacht is the first step. Typically, the broker will arrange to have your boat photographed and write compelling descriptions of the images. They also list the specifications which include the year built, the manufacturer, model, specs and a soliloquy of the boats condition and current status. Your broker will do the research and have access to recent sale prices and generally have the experience to price your boat realistically.

MarineMax yacht brokers have access to robust advertising resources including a sophisticated system of inventory and lead management. When you list with MarineMax, your yacht automatically will appear on the following internationally known websites: Yachtworld.com, Boats.com, Boattraderonline.com, PowerandMotorYacht.com, Usedboats.com, and Yachtbroker.com. Listings include excellent images, video tours and walk throughs and detailed descriptions to attached buyers. As the world’s largest marine retailer, we have a vast database of interested buyers that we share your yacht with through email communications, social media and one-on-one communications. We offer nationwide advertising in magazines such as Power & Motor Yacht, Marlin, Boating, Yachting, Showboats International, and more of the Industry’s finest print magazines.

Your broker controls communications keeping emotions out of the negotiation. They prequalify potential buyers to assure yours and their time is not wasted. They show your boat to the prospective buyers, saving you frustration and time when buyers do not show up or find themselves not interested.

What do yacht brokers charge?

About 10% Yacht brokers for sellers work off a commission, meaning they receive a cut of the proceeds from the sale of your boat. Expect to pay about 10% of the sales price in commission. So, if your boat sells for $300,000, at 10% the commission would come out to $30.000 and you walk away with $270,000.

Thinking about selling your boat? Wondering if it is prudent for you to save paying a commission to a yacht broker and go the “for sale by owner” route?

If you have experience with boats and really know the market where your boat is located, you might feel confident to sell your own boat and cash in on the savings of not paying a broker. Going the “for sale by owner” or FSBO way can be a great option for some boat sellers, but it is not for everyone.

Here is our take (as yacht brokers) on the pros and cons of “for sale by owner” vs. using a boat seller’s broker.

How do I get a yacht brokerage license in Florida?

In order to obtain a license as a Yacht Salesperson, an individual must complete an Initial Application, Application for a Yacht and Ship Employing Broker, Broker or Salesperson’s License – DBPR Form YS 6000-1, obtain a $10,000 Surety Bond or Letter of Credit, submit a Fingerprint Card and a $51 fee or go to a Livescan vendor that is registered with FDLE for criminal background processing (NOTE: The Livescan vendor will charge you directly for the fingerprint scan), submit a $500 application fee, and provide information regarding affiliation under the license of a Florida Employing Broker on the application. The licensure period for a Yacht and Ship license is biennial (2 years) and upon completion of the first 2 consecutive years, a Yacht Salesperson may be eligible to upgrade their license to the status of a Yacht Broker or Employing Broker, both with the requirement of a $25,000 surety bond.

The basic duties of a Yacht Salesperson and a Yacht Broker are similar with the main difference being the Yacht Broker status indicates additional experience in the industry. Employing Brokers (and all licensees) must maintain a principal place of business in Florida, and have the option of being in sole practice or employing other Yacht Salespersons or Yacht Brokers in their company. If required, there may be more than one Employing Broker within each company. Employing Brokers also have the additional requirement of establishing an escrow (trust) account in a Florida financial institution. Effective July 01, 2020, licenses are no longer required for a Branch Office.

No later than 60 days prior to a license expiration date, all licensees are notified by mail with a Renewal Application, Application for Yacht and Ship License Renewal – DBPR Form YS 6000-6. Licensees can then submit their renewal along with the required Surety Bond, Bond Continuation Certificate, or Letter of Credit (see sample form), and the $500 renewal fee. During renewal, if eligible, licensees may also upgrade their license status from Yacht Salesperson to Yacht Broker or Employing Broker, or downgrade their license from Employing Broker to Yacht Broker or Yacht Salesperson, or from Yacht Broker to Yacht Salesperson. Upgrades and downgrades may also be completed at any time during the biennial licensure period. Please note: If license renewals are not submitted 30 days after the expiration of the license, the licensee may need to reapply for licensure.

How do I become a charter ship broker?

Clearing the Institute of Chartered Shipbrokers(ICS) exam;

To become a chartered broker you have to clear a series of exams. It includes 3 exams and the candidate has to clear all three exams.

• Fundamental Maritime Law(FML) is the first exam.
• The second exam is the International Shipping Business Practice exam.
• The third exam is Company Law Part 1.

4:- How to Become a Shipbroker from Seafarer?. After being a seafarer for a while the individual will have an advantage, technical knowledge will help you because companies and firms want a candidate who has technical knowledge about the industry.

Here are some steps that you can follow to become a shipbroker from seafarer:

How much do top yacht brokers make?

Yacht Broker Salary in CaliforniaAnnual SalaryMonthly PayTop Earners$97,210$8,10075th Percentile$74,000$6,166Average$59,843$4,98625th Percentile$47,400$3,950.

How much do yacht brokers make in Miami?

As of Jul 20, 2024, the average annual pay for a Yacht Broker in Miami is $57,964 a year.