yacht salesperson license

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Yacht and Ships – Licensing

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.

The Yacht and Ship Section announces a new online option that allows Yacht and Ship licensees the ability to renew their licenses online and receive expedited approval.  Renewal notices will continue to be mailed to licensees 60 days prior to their license expiration, and once received, a licensee can visit DBPR’s ‘Online Services’ at https://www.myfloridalicense.com/activateaccountinstruct.asp to access the online renewal site.  At this site, licensees can set up an account by clicking on ‘Renew Your License’ then selecting ‘Yacht and Ship’.   Please note, licensees can still elect to submit a paper application and supporting documents if that process is more convenient.

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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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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: from acceptance to closing, webinar date: april 17, 2024.

Congratulations, the survey is behind you and the vessel has been accepted. What are your priorities as a broker to help get the buyer and the seller to the finish line? There can be a lot of paperwork to manage and banking details to be completed properly in a relatively short amount of time. Who is responsible for what? Join this webinar for an overview of the steps you should be aware of and the guidance you can provide to your buyer and seller. Your hosts are experienced yacht brokers with hundreds of successful transactions, and they will be the first to admit that every closing is unique, so being organized will help ensure a smooth outcome for all parties.

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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Florida Yacht Broker License

Did you know that you need a license to sell boats of 32 feet in Florida? That’s because it’s considered a yacht by state statute. Learn more about the Florida Yacht Broker License by reading the information below.

Who needs a Florida Yacht Broker License?

Florida defines a “Yacht” as any vessel in the water exceeding 32 feet. Additionally, this includes vessels powered by wind and/or motors. The previous definition comes with a few exceptions, however. These exceptions are selling your own yacht, attorneys, new yacht sales, receivers, and foreclosures.

Do I need a Yacht Broker License or a Florida Yacht Salesmen License?

Ah, which comes first? The chicken or the egg? Unfortunately, Florida requires that all salesmen be licensed and work for a licensed broker. However, you can’t get a Florida Yacht Broker License unless you’ve been a yacht salesmen for two consecutive years. So, you’ll need to first become a salesperson if you wish to open your own brokerage.

How much does each license cost?

We mentioned above that there are two license types. However, both licenses cost the same. That’s right. The cost for a yacht salesmen license is the same as the yacht broker license. Each of these licenses will cost you $551. Additionally, you can add another brokerage location for $100.

What else do I need for my Yacht Broker and Salesmen license?

In addition to the state fee, you’ll need a few other items. For example: You’ll need to provide fingerprints, a completed application, and a surety bond. However, the surety bond amounts aren’t the same. The Florida Yacht Salesmen License requires a $10,000 bond while the Yacht Broker License requires a $25,000 bond. You can find the price of your bond by applying here .

Do you need help applying for your license?

If so, you’ve come to the right place. We can help you apply for your license with the DFCTMH . Yacht broker licenses fall under their supervision. In most cases, we can help you apply for and obtain your license faster and easier than going it alone. In fact, many of our clients have already started the process when they come to us for help. Learn more about what we do or apply online today!

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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What is a foreign or out-of-state yacht and ship broker or salesperson?

What is a foreign or out-of-state yacht and ship broker or salesperson?    

A foreign or out-of-state yacht and ship broker or salesperson is a yacht and ship broker or salesperson who primarily conducts business outside of Florida or outside of the United States, and does not have a Florida yacht and ship broker license or a Florida yacht salesperson license.  Foreign or out-of-state brokers may conduct business with Florida licensed brokers, as long as they do not physically enter the state of Florida to act as brokers or salespersons.

References:

Rule 61B-60.001(1)(j), Florida Administrative Code

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