yacht brokerage education

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 and Marketing at Ocean Independence

Toby is Ocean Independence Director of Sales in addition to being a Group Board Member and Shareholder of this leading superyacht group.

Toby’s role as Director is exceptionally varied and primarily involves him providing day to day business and troubleshooting support for the group’s 50+ sales and charter brokers across 13 international locations.

He 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.

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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From Novice to Pro: Securing Your Yacht Broker’s License

How to get a yacht brokers license is a process that involves a series of steps designed to ensure competence, ethical standards, and regulatory compliance. If you are ready to start on this rewarding career path, here’s a quick guide:

• Eligibility Requirements : Be of legal age and possess a high school diploma.
• Complete Pre-Licensure Course : Accredited courses cover legal, ethical, and practical aspects.
• Submit Application and Fees : Fill out DBPR FORM YS 6000-1, pay $551, submit fingerprints, and provide a surety bond.
• Pass the State Exam : Prepare for topics like maritime law and yacht valuation.
• Obtain Sponsorship : Secure backing from a licensed yacht broker or brokerage firm.

Becoming a licensed yacht broker can transform your passion for boating into a lucrative and fulfilling career. This profession offers not just financial rewards through commissions on yacht sales but also the satisfaction of helping clients steer through one of their significant life investments.

My name is Jason Whitaker, owner of WS Yacht Brokers, with over 33 years of marine industry experience. I have guided many through the complexities of how to get a yacht brokers license .

By the end of this guide, you will have a solid understanding of the steps required to achieve your yacht broker’s license and start on a successful career in yacht brokerage.

Eligibility Requirements

Before you can start your journey to become a licensed yacht broker, you need to meet certain eligibility requirements . These criteria ensure that only qualified and ethical individuals enter the profession.

Age and Moral Character

First, you must be at least 18 years old . This is a common requirement across various jurisdictions and ensures that you have the legal capacity to enter into contracts.

In addition to age, you must possess good moral character . This means you should have a clean legal record, free from serious offenses. The licensing body may conduct background checks to confirm this.

High School Diploma

A high school diploma or equivalent is another basic requirement. This ensures that you have a fundamental level of education necessary to understand the complexities of yacht brokerage.

Relevant Experience

While not always mandatory, having relevant experience in yacht sales or a related field can be a significant advantage. Experience can come from working in marine sales, boating, or even maritime law. This background can make the licensing process smoother and more straightforward.

Next, we’ll dive into the educational requirements and the steps needed to gather the necessary documents for your application. This is where the journey really begins!

How to Get a Yacht Broker’s License

Step 1: complete pre-licensure course.

To kickstart your journey, you need to complete a pre-licensure course . This course is essential as it provides the foundational knowledge required for yacht brokerage. The Florida Division of Florida Condominiums, Timeshares, and Mobile Homes (DBPR) mandates that you take this course from accredited institutions .

• The course covers essential topics like maritime law , yacht valuation, and sales techniques.
• The number of hours required can vary, so check the specific requirements from the DBPR.

Step 2: Gather Necessary Documents

Once you’ve completed the course, the next step is to gather all necessary documents for your application. This includes:

• A completed application form .
• Proof of completing the pre-licensure course .
• Documentation of your experience in yacht sales . This could be a resume or reference letters.

Step 3: Submit Application and Fees

With your documents in hand, it’s time to submit your application . This involves:

• Filling out DBPR FORM YS 6000-1 .
• Paying the $551 application fee .
• Submitting fingerprints for a background check.
• Providing a surety bond . This bond acts as a financial guarantee to protect your clients.

Step 4: Pass the State Exam

After your application is approved, you’ll need to pass the state exam . This exam tests your knowledge of yacht brokerage laws, regulations, and ethics. Here are some preparation tips :

• Study materials : Use textbooks, online courses, and practice exams to prepare.
• Topics covered : Legal and regulatory knowledge, ethics, yacht valuation, and contracts.

Step 5: Obtain Sponsorship

Before your license can be issued, you need to obtain sponsorship from a licensed yacht broker or a reputable yacht brokerage firm. This step is crucial for your professional development and compliance with regulations.

• Networking : Attend industry events and join professional organizations to meet potential sponsors.
• Mentorship : Look for a mentor who can guide you through the complexities of yacht brokerage.

Next, we’ll discuss the additional requirements like insurance coverage and continuing education, which are vital for maintaining your yacht broker’s license.

Additional Requirements

Insurance coverage.

Once you have your license, it’s crucial to secure errors and omissions (E&O) insurance . This type of insurance protects you from potential claims made by clients for mistakes or oversights in your professional services.

• Why it matters : E&O insurance covers legal costs and settlements, safeguarding your financial stability.
• Client protection : Having this insurance assures your clients that they are protected in case of any errors during the transaction process.

Continuing Education

To keep your yacht broker license active, you must fulfill continuing education (CE) requirements . This involves completing a certain number of education credits within each renewal period.

• Renewal requirements : Florida Yacht and Ship licenses are biennial, meaning they need to be renewed every two years. At least 60 days before your license expires, you’ll receive a renewal application (Form YS 6000-6) by mail.

Continuing education credits : You need to stay updated with the latest industry trends, laws, and best practices through approved courses.

Example : If you are a yacht salesperson for two consecutive years, you may be eligible to upgrade your license to a yacht broker upon renewal.

Staying current with your education not only helps you comply with legal requirements but also improves your skills and knowledge, making you a more competent and trustworthy broker.

Next, we’ll answer some frequently asked questions about how to get a yacht broker’s license, including potential earnings and specific requirements for boat brokers in Florida.

Frequently Asked Questions about How to Get a Yacht Broker’s License

Do yacht brokers make money.

Yes, yacht brokers can make a substantial income. Their earnings typically come from commissions based on the sales price of the yachts they sell.

• Commission Rates : Yacht brokers usually earn a commission of around 10% of the sale price of the yacht.
• Example : If a broker sells a yacht for $500,000, they could earn a commission of $50,000.

The more yachts you sell, and the higher their value, the more money you can make. This makes networking and industry knowledge crucial for success.

What is Required to Be a Boat Broker in Florida?

To become a boat broker in Florida, you must meet several requirements:

• Age : You must be at least 18 years old.
• Moral Character : You need to demonstrate good moral character.
• Pre-Licensure Course : Complete a pre-licensing course approved by the Florida Division of Florida Condominiums, Timeshares, and Mobile Homes (DBPR).
• Written Examination : Pass the state exam, which covers topics such as maritime law, yacht valuation, and professional ethics.

These steps ensure that you have the necessary knowledge and integrity to represent clients in yacht transactions.

How Much Does It Cost to Get a Yacht Broker License in Florida?

The costs involved in obtaining a yacht broker license in Florida are as follows:

• Application Fee : The fee for both the yacht salesperson and yacht broker licenses is $551.
• Fingerprints : You must submit your fingerprints for a background check. The cost for this service varies but is typically around $50.
• Surety Bond : A surety bond is required to protect clients. For a yacht salesperson, the bond amount is $10,000, while for a yacht broker, it is $25,000.

Example : If you are applying for a yacht broker license, you will need to budget for the $551 application fee, the cost of fingerprinting, and the $25,000 surety bond.

Understanding these costs and requirements will help you plan effectively as you work towards becoming a licensed yacht broker .

Next, we’ll conclude our guide with a summary of the benefits and opportunities available through WS Yacht Brokers.

At WS Yacht Brokers, we believe in more than just transactions—we believe in building lasting relationships with our clients. Our team is passionate about yachts, and we bring that enthusiasm to every interaction. Whether you’re buying your first yacht or selling a luxury vessel, our personalized service ensures you get the attention and expertise you deserve.

Personalized Service

We understand that every client has unique needs and preferences. That’s why we take the time to listen and tailor our services to meet your specific requirements. From the initial consultation to the final handshake, we are committed to making your yacht buying or selling experience smooth and enjoyable.

Expert Market Assessments

Our team of knowledgeable professionals excels in market analysis. We stay updated on the latest trends and valuations to provide you with accurate and insightful market assessments. This expertise ensures you make informed decisions, maximizing your investment’s potential.

Passionate Staff

Our staff’s passion for yachts is evident in everything we do. We love discussing yachts, sharing our knowledge, and helping clients find the perfect vessel. This passion drives us to deliver exceptional service and results, making us a trusted partner in the yachting community.

Ready to start on your yachting journey? Contact WS Yacht Brokers today for personalized service and expert guidance. Let’s make your yachting dreams a reality.

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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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Testimonials

Welcome to the yacht broker institute (ybi) your premier online platform for yacht brokerage training.

Designed by industry experts, our courses connect aspiring yacht brokers with thriving yacht companies, equipping you with the essential skills to excel in this exciting field.

At YBI, we provide comprehensive training that equips you with the core competencies n eeded to meet industry standards and ethical guidelines in yacht brokerage. Our highly regarded courses cover essential topics such as sales negotiation, product knowledge, and legal issues, making them a prerequisite for many yacht companies when hiring new brokers.

We proudly support students from around the globe—from Singapore to France to Costa Rica—helping them achieve their Certificate of Achievement in “ Fundamentals and Essentials of Yacht Brokerage “, as well as in “ Professional Administrative Assistant (PAA) “. While we can’t guarantee job placement, an impressive 75% of our graduates find fulfilling employment in their respective fields. 

Embark on Your Yacht Broker Career with YBI Today!

Why Choose YBI?

We empower you to become the trusted professional that yacht companies and brokers seek. Our training fills a critical gap in the industry, ensuring you possess the skills to thrive as a Yacht Broker or Professional Administrative Assistant. At YBI, we offer personalized support through email and phone communication, ensuring you receive the guidance you need throughout your training.

Master Essential Skills

Build a solid foundation in yacht brokerage to stand out in the field

Navigate Your Path to Success

Gain the insights and strategies needed to thrive in this dynamic industry

Learn from Industry Experts

Benefit from the wisdom and experience of seasoned professionals

Yacht Broker Course

Dive deep into the yacht brokerage process with step-by-step guidance. Learn how to navigate transactions, from showcasing boats to closing deals and collecting commissions. Understand the roles of various professionals involved in yacht transactions to streamline your workflow and enhance your professionalism.

Professional Administrative Assistant Course

This comprehensive guide is tailored for those looking to support yacht brokers. The “PAA Guide to Yacht Brokerage” covers essential aspects of the brokerage industry, including contracts, transaction management, and effective communication within a yacht brokerage.

FAQ Yacht Broker Course

That depends on how much time you have to dedicate to the course, and how knowledgeable you are about the products and terminology, however we estimate that it will take someone about a month of part time studying to complete this course or approximately 60 hours of study time.

Payments are processed through Authorize.net and you can pay by Visa or Mastercard. You will then have instant access to the course material. We also accept checks made out to YBI LLC, however you will not have access to the site until after the check clears our bank.

Yes, subject to the terms and conditions of use, if you are not satisfied with the course or course material, send us a written notification within the first 7 days of enrollment and your course fee will be refunded (less processing fees). 

No, this comprehensive course is designed to give everyone, regardless of their locale, the foundation for them to be able to get started and grow in the yacht brokerage field. We have hade students from as far away as Singapore, France and Costa Rica who have taken the course and received their Certificate of Achievement in the “Fundamentals and Essentials of Yacht Brokerage”. 

While we cannot guarantee anyone a job, we do have yacht brokerage companies who are always on the lookout for ethical and properly trained professionals. Remember the same barrier for individuals looking to get into yacht brokerage is the same one experienced by companies looking for new people to join their team – there is no formal training course! 

Yes, we are very hands on and are available via e-mail or telephone after the first contact. We welcome questions and suggestions and encourage feedback. 

Most yacht brokers, similar to real estate agents, are commission only sales; however, there are some companies and new boat manufacturers that pay a salary or draw with a smaller commission schedule. 

In most states, after you have completed this course you will have the foundation to start as a yacht broker immediately. 

Yes, (if you are selling vessels over 32′ in length) and you have to be bonded as well. This course contains all of the information needed for you to be able to get your bond and license. 

Florida Law requires that a newly licensed salesperson work under a FL licensed yacht broker for 2 years before they can apply for a Broker’s license.

Actually, technically you don’t work for someone else. Similar to real estate, you are an “independent contractor” and as such you set your own hours, schedule and method of working. While we feel it would be advisable to work under an experienced Broker while you cut your teeth on listing and selling some boats, you are not obligated to do so in most states. 

Ah, how long is a piece of string? Like most industries, the 20/80 rule applies in yacht brokerage, 20% of the brokers make 80% of the money. It will depend on where you are in the country/world, length of selling season, value of boats typically sold, number of yachts sold. Obviously if you are selling a $10,000,000 yacht where a commission may be as high as $300,000 for the individual salesman, it’s easy to earn some very good money. Brokers who are top of their game earn millions of dollars a year. The sky is truly the limit! 

We have had dozens of students through the course, the testimonials on this site are actual quotes from students who have taken the course and yacht brokerage owners who have hired them! Over 75% of students who have successfully completed the course have jobs at a yacht brokerage company! We also have companies that ask us for referrals of new students who have completed the course. 

FAQ PAA Course

The yacht brokerage industry is a very specialized segment of the marine industry and the course will allow someone to learn the terms and be familiar with the myriad of forms and documents used in yacht brokerage transactions, thus giving someone a head start in an industry that has take others years to learn. 

Just as in yacht brokerage, there is a demand for companies to hire PAA’s that are familiar with the yacht brokerage industry, the methodology of following a yacht brokerage transaction, putting listings into MLS systems, and the general nomenclature and jargon that is part of the yacht brokerage world.

That depends on how much time you have to dedicate to the course and how knowledgeable you are about the products and terminology, however, we estimate that it will take someone about a month of part time studying to complete this course, or approximately 50-60 hours of study time.

Once registered, a student is allowed six months of access to the “Members Only” site with all the course material, as well as reference materials and sample forms.

Payments are processed through Authorize.net and you can pay by Visa or Mastercard. You will then have instant access to the course material.

We also accept checks made out to YBI LLC, however you will not have access to the lessons until after the check clears our bank.

No, this comprehensive course is designed to give everyone, regardless of their locale, the foundation for them to be able to get started and grow in the yacht brokerage industry.

Upon successfully completing the course and passing all the quizzes, you may request your “Certificate of Achievement”. 

That depends on the firm, however, someone new to the industry should view it as training that will help them advance in their career. It will also prova to a potential employer that you are willing to invest in yourself and serious about getting into the industry.

What Brokerages Say

The Yacht Brokers Institute is a very informative and helpful step to a successful career in yacht sales. We at our company see this as a hiring prerequisite.

What Our Students Say

I recommend the F&E course. The course material has a seamless way of communicating the information clearly for beginners while also diving into detail that only Brokerage Professionals would know. The course holds high credibility within the field and an asset to anyone seeking employment within the Yacht Brokerage field.

We have all heard that if you want to be happy in your work, do something you love. For the first 28 years of my adult life, I wasn't doing this. With the help of the YBI, I now feel that I have a good solid base to start enjoying an exciting career in the yacht brokerage industry. Thank you  for putting together this comprehensive course. 

One of the largest obstacles to getting a job at an established yacht brokerage is the knowledge base needed to be able to hit the ground running so that you understand the process, legal responsibilities and pitfalls w ithout being a liability to the company.

I thoroughly enjoyed the course and value the technical information I have learned. The Fundamentals & Essentials of Yacht Brokerage is a course that out of the classroom covers a lot of ground and makes clear situations that could be pretty tricky. I was able to close my first brokerage deal in the first three months.

The course was awesome! I really learned a ton of new information. I went into the program thinking this will be a breeze (being a 30 year boater)- boy was i wrong! The course and tests really prep you for things that will come up during sales negotiations and client interactions – I highly recommend this course to anyone thinking about a role as a yacht broker!

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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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Five Tips for Building Strong Customer Relationships

In a recent survey, customers said that the #1 reason they do business with a particular company is ‎because of a relationship with someone within that company. The same survey also showed that 97% of ‎customers did business with a particular salesperson because they liked and trusted that person. Thus, as ‎salespeople, having a strong relationship in which people like and trust us is more important than any other ‎factor in the sales process. ‎

Key Sales Success Traits That Require No Talent

Many of the most successful salespeople are not Rhode Scholars and they possess no particular ‎talents or gifts. Some might say, “Well, wait, they have the gift of gab. That’s a talent.” Yes, ‎some do, but many do not, and many are introverts who are not super-comfortable on the social ‎scene. That said, they are still successful. The reason being is that a lot, if not all, of the most ‎important sales success traits don’t require you to be a member of Mensa nor do they require ‎you to be a born socialite equipped with a silver tongue. So, what are these key success traits ‎that almost anyone from any walk of life can have? Here they are…‎

Six More Success Traits of Top Salespeople

In last month’s article, I wrote about six success traits of top salespeople. In this article I’ll ‎cover six more. As a refresher, here are the first six: a positive attitude, being action oriented, ‎being prepared, being businesslike and business-savvy, the ability to stand out from the crowd, ‎and finally, likeability, trustworthiness, and the ability to build relationships. Now, here are the ‎additional six.‎

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