florida yacht brokers license requirements

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How does Florida regulate and authorize licenses?   

Under the Florida Statutes, a “license” to regulate professions and occupations means any permit, registration, certificate, or license issued by the Department of Business and Professional Regulation (the “DBPR”). An occupational license is a privilege accorded by the state or its subdivisions to conduct a business at a particular location and is not a property right protected by substantive due process; the denial of such license does not prevent the business owner from pursuing a lawful occupation but merely stops the business from operating at a particular location. Ammons v. Okeechobee County , 710 So. 2d 641 (Fla. 4th DCA 1998).   

On July 1, 2021, the Florida Legislature passed Section 163.211 into law, which prevents any county, municipality, or other political subdivision of Florida from implementing additional licensing requirements for most occupations. Therefore, a prospective applicant only needs to satisfy state statutory requirements.  

Need help receiving, renewing, or defending your license? Schedule your consultation today with a top administrative law and licensing attorney .   

How does the licensing process work in Florida?  

A prospective licensee must apply through the DBPR, which must review the application and have the discretion to reject or accept applications for new licenses and license renewals as long as the discretionary review is reasonable. See KJS v. Department of Children and Family Services , 974 So. 2d 1106 (Fla. 1st DCA 2007).   

On the other hand, licensees seeking renewal must file for renewal before their license expires, or they will not be allowed to engage in their occupation until the DBPR grants a separate, new license. See Legal Environmental Assistance Foundation, Inc. v. Board of County Com’rs of Brevard County , Fla., 61 F.3d 25 (11th Cir. 1995).   

When the DBPR receives a license application, the agency has 90 days to examine the application, timely notify the applicant of any errors or omissions, request additional information, and, ultimately, issue a notice of intent to either grant or deny the license. The DBPR may not deny renewal without a full, open, and fair hearing for license renewals. See Wilson v. Pest Control Commission of Fla. , 199 So. 2d 777 (Fla. 4th DCA 1967).   

Which laws and regulations apply to yacht and ship broker licenses in Florida?  

The Florida entity that regulates yacht and ship licenses is the  Florida Department of Business and Professional Regulation (DBPR) . Specifically, the DBPR’s Division of Florida Condominiums, Timeshares, and Mobile Homes oversees yacht and ship brokers and salespersons licensing.  

Federal and state laws regulate yacht and ship licenses, with federal laws such as the  Jones Act  governing matters like vessel documentation and maritime law.  

Under Florida law, yacht and ship licenses fall under  Chapter 326, Florida Statutes  (Yacht and Ship Brokers). Furthermore, the  Florida Administrative Code (FAC)  sets additional rules and regulations for yacht and ship licenses.   

What are the application and retention requirements for yacht and ship broker licenses in Florida? 

Application Requirements:

Applicants for yacht and ship licenses in Florida must meet specific criteria. First, individuals must be at least 18 years old and of good moral character. Second, they must complete a pre-licensure course approved by the DBPR. Third, applicants must pass a written examination administered by the DBPR. Fourth, they must submit a surety bond or letter of credit for $25,000. Finally, applicants must pay an application fee and complete a licensing application form.  

Retention Requirements:

To maintain their yacht and ship license, licensees must adhere to specific requirements. They must renew their licenses every two years, pay the applicable renewal fee, and complete at least eight hours of continuing education every two years.   

Additionally, licensees must maintain their surety bond or letter of credit and adhere to the regulations outlined in Chapter 326, Florida Statutes, and the Florida Administrative Code. Failure to comply with these requirements may result in disciplinary actions, including fines, suspension, or license revocation.  

To determine whether you meet the yacht and ship broker license requirements, please contact our office to set up your initial consultation.  

Can the DBPR’s license decision be appealed?  

Yes, an adverse license decision made by the DBPR is appealable. The authority for appealing such decisions comes from the Florida Administrative Procedure Act (APA) , Chapter 120 of the Florida Statutes. Specifically, the right to appeal derives from Florida Statutes §120.569 and §120.57 . The APA establishes the framework for challenging agency actions, such as licensing decisions, through administrative hearings and judicial review.   

If an applicant or licensee receives an adverse decision from the DBPR, they may request an administrative hearing to challenge it. The request for a hearing must be submitted within the timeframe specified in the agency’s notice, which is generally 15 days from the date of the notice, as provided in Section 120.569(2)(a), Florida Statutes .  

The administrative hearing process commences with submitting a petition for a hearing to the agency. The petition must comply with the requirements outlined in Rule 28-106.201, Florida Administrative Code . If the petitioner qualifies for an administrative hearing, the case is referred to the Division of Administrative Hearings (DOAH) and assigned to an administrative law judge (ALJ).  

The ALJ conducts the hearing, like a trial, with both parties presenting evidence and testimony. After the hearing, the ALJ issues a recommended order, which includes findings of fact, conclusions of law, and a recommendation for a final decision. The DBPR then reviews the recommended order and issues a final order, either adopting, modifying, or rejecting the ALJ’s recommendations.  

Suppose the petitioner is unsatisfied with the DBPR’s final order. In that case, they can seek judicial review by filing a notice of appeal with the appropriate District Court of Appeal, as provided in Section 120.68, Florida Statutes . The court reviews the case to determine if the agency’s decision follows from competent, substantial evidence and complies with the law.  

Have more questions about a professional licensing-related situation?  

Crucially, this overview of yacht and ship licenses does not begin to cover all the laws implicated by this issue or the factors that may compel the application of such laws. Every case is unique, and the laws can produce different outcomes depending on the individual circumstances.  

Jimerson Birr attorneys guide our clients to help make informed decisions while ensuring their rights are respected and protected. Our lawyers are highly trained and experienced in the nuances of the law, so they can accurately interpret statutes and case law and holistically prepare individuals or companies for their legal endeavors. Through this intense personal investment and advocacy, our lawyers will help resolve the issue’s complicated legal problems efficiently and effectively.  

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How To Get a Yacht Broker License in Florida? Here’s What You Need To Know

Have you ever dreamed of being a yacht broker in the beautiful state of Florida? If so, you may be wondering what it takes to get a yacht broker license in the Sunshine State.

In this article, we’ll be looking at the requirements, exams, and application process for getting a yacht broker license in Florida, as well as the benefits that come with it.

Read on to learn more about how to get a yacht broker license in Florida!.

Table of Contents

Short Answer

In order to get a yacht broker license in Florida, you will need to meet the requirements set by the Florida Department of Business and Professional Regulation.

This includes having a high school diploma, completing a 40-hour course from an approved provider, and successfully passing a broker or salesperson licensing exam.

You will also need to provide documentation of your work experience in the yacht brokerage industry and complete a background check with the Florida Department of Law Enforcement.

Once you have met all of these requirements, you can apply for your license with the Florida Department of Business and Professional Regulation.

What Is a Yacht Broker License?

A yacht broker license is a credential issued by the Florida Real Estate Commission (FREC) that allows a person to legally engage in the practice of selling, leasing, and managing boats and yachts in the state of Florida.

With a yacht broker license, individuals are able to help buyers and sellers navigate the process of buying and selling vessels in the state.

To obtain a yacht broker license, applicants must meet certain educational, experience, and testing requirements.

It is important to note that yacht broker licenses are specific to the state of Florida and will not be recognized in other states.

Education Requirements

Getting a yacht broker license in Florida requires a combination of education and experience, as well as certification.

To become a licensed yacht broker in the Sunshine State, you must first complete a 60-hour course approved by the Florida Real Estate Commission (FREC).

This course covers topics such as boat types, financing, and sales techniques.

So, if youre looking to become a yacht broker in Florida, it is important to invest in a quality education that will give you the knowledge and skills necessary to succeed in this role.

The FREC-approved course will cover a variety of topics, including contract law, boat types, boat financing, boat sales, boat repair, boat maintenance, and more.

You will also learn about the legal and regulatory aspects of becoming a yacht broker in Florida.

This course is essential for those looking to become a yacht broker in the Sunshine State, as it will provide you with the necessary knowledge to understand and navigate the legal and regulatory aspects of the industry.

In addition to the educational requirements, applicants must also have two years of documented experience in the industry.

This could include working at a boat dealership or marina, or any other type of related experience.

This experience is necessary to demonstrate that you have a good understanding of the industry, and are prepared to take on the role of a yacht broker in Florida.

Finally, applicants must also pass the FREC yacht broker exam.

This exam will test your knowledge of the legal and regulatory aspects of being a yacht broker in Florida.

Once you have passed the exam, you will be eligible to submit your application to the FREC and receive your license.

With a yacht broker license in Florida, you can help buyers and sellers navigate the process of buying and selling vessels in the Sunshine State.

So, if youre looking to become a yacht broker in Florida, make sure to invest in quality education and experience, and pass the FREC exam, to ensure that youre well-prepared for the role.

Experience Requirements

Becoming a licensed yacht broker in Florida is no small feat; it requires a combination of education, experience, and certification.

In addition to taking the required 60-hour course approved by the Florida Real Estate Commission (FREC), applicants must also have two years of documented experience in the industry.

This experience could include working at a boat dealership, marina, or yacht club or in any other capacity related to the sale of vessels.

This experience requirement is designed to ensure that applicants are well-versed in the industry, familiar with the types of boats available for sale, and knowledgeable about the sales process.

During the two years of experience, applicants should have acquired knowledge of boat types, financing, and sales techniques.

This experience should also provide applicants with insight into the legal aspects of the industry, such as contracts, liens, and title transfers.

For those who do not have two years of experience, it is possible to substitute up to one year of the required experience with a college degree in marine-related studies.

This could include a degree in marine engineering, marine technology, or a similar program.

Additionally, some schools offer courses in the yacht brokerage field, which can also be used to satisfy the experience requirements.

It is also important to note that the experience requirement must be documented.

This means that applicants must have proof of their experience in the form of letters from employers or other documentation that can be provided to the FREC.

This is necessary to ensure that applicants are truly knowledgeable and experienced in the field.

Certification Requirements

In order to become a licensed yacht broker in Florida, you must fulfill a set of certification requirements.

First and foremost, you must complete a 60-hour course approved by the Florida Real Estate Commission (FREC).

Additionally, applicants must possess two years of documented experience in the industry, such as working at a boat dealership or marina.

Finally, applicants must pass the FREC yacht broker exam.

Only once all of these requirements are met can applicants submit their application to the FREC and receive their license.

The FREC yacht broker exam is a two-hour test that covers a range of topics related to the sale of boats and yachts in Florida.

These topics include familiarization with vessels and hull types, knowledge of marine contracts and financing, and understanding of the regulatory environment that governs yacht sales.

The test also covers topics such as safety, marketing, and insurance.

The exam is administered in the form of a multiple-choice test and must be passed with a score of 70% or higher to be eligible for a license.

It is important to note that the FREC yacht broker exam is not the only certification requirement for becoming a yacht broker in Florida.

In addition to passing the exam, applicants must also demonstrate two years of documented experience in the industry.

This experience can take the form of working as a boat dealer, marina employee, or other related field.

All documents and certificates must be submitted to the FREC as part of the application process.

Once all of the certification requirements have been fulfilled, applicants can submit their documents to the FREC and receive their license.

With a yacht broker license, you can help buyers and sellers navigate the process of buying and selling vessels in Florida.

Licenses must be renewed every two years and continuing education is required to maintain the license.

Exam Requirements

In order to obtain a yacht broker license in Florida, applicants must first pass the FREC yacht broker exam.

This exam covers a variety of topics related to the sale and purchase of boats, such as boat types, financing, and sales techniques.

The exam consists of 80 multiple-choice questions, and applicants must obtain a score of 75% or higher to pass.

In addition to the multiple-choice portion of the exam, applicants must also complete a written portion, which requires them to answer four essay questions.

The essay questions cover topics such as boat sales, contracts, and financing.

The essay portion of the exam is graded on a pass/fail basis, and applicants must receive a passing score in order to receive their license.

In order to prepare for the exam, applicants can take a pre-licensing course approved by the FREC.

This course covers all of the topics that will be covered on the exam, and can help applicants gain the knowledge and confidence they need to pass the exam.

Additionally, applicants can purchase study materials and practice exams to help them prepare for the exam.

Applicants must also pay a fee when registering for the exam, which covers the cost of the exam materials.

The fee for the exam varies depending on the type of license being applied for, so it is important to check with the FREC for the most up-to-date information.

Once applicants have passed the exam, they can then submit their application to the FREC and receive their license.

Application Process

Once you have met the educational, experience, and certification requirements to become a yacht broker in Florida, you can apply for your license.

The application process is straightforward and involves submitting an application to the Florida Real Estate Commission (FREC).

The application requires information such as your name, address, and contact information.

Additionally, you must provide proof of the 60-hour course and two years of experience, as well as the results of your yacht broker exam.

You may also need to submit other documents, such as a criminal background check and additional forms of identification.

Once your application and accompanying documentation have been accepted, the FREC will issue your license.

Its important to note that the application process may take several weeks to complete, so its best to plan ahead and give yourself plenty of time to ensure that you receive your license in a timely manner.

Furthermore, you should be aware that the FREC may deny your application if any of the requirements are not met or if there are any issues with the documentation you provide.

If this happens, you will need to address the issues and submit an updated application.

Once you have your yacht broker license in Florida, you can begin helping buyers and sellers navigate the process of buying and selling vessels in the Sunshine State.

Benefits of a Yacht Broker License

Having a yacht broker license in Florida comes with a number of benefits.

First and foremost, it allows you to legally operate as a yacht broker in the state of Florida, giving you access to potential business opportunities.

Additionally, having a license shows that you have the necessary knowledge and experience to effectively help buyers and sellers navigate the process of buying and selling vessels in Florida.

As a licensed yacht broker, you can also take advantage of exclusive professional networks and industry events, such as Florida Yacht Broker Association meetings and conferences, which can provide you with valuable connections and information.

Furthermore, having a license can help you build credibility with potential customers and create trust, as it demonstrates your commitment to excellence in the industry.

Finally, having a yacht broker license can help you stay up-to-date on new laws and regulations, which is essential for staying ahead in the competitive world of yacht brokering.

Final Thoughts

With the right education, experience, and certification, you can become a yacht broker in Florida and help buyers and sellers navigate the complexities of buying and selling vessels in the Sunshine State.

If you’re interested in becoming a yacht broker in Florida, now is the time to get started.

Get informed on the requirements, take the 60-hour FREC course, gain the necessary experience, and take the FREC yacht broker exam.

Once you’ve met all the requirements, you can submit your application to the FREC and receive your license.

With a yacht broker license in hand, you will be well on your way to a successful career in the industry.

James Frami

At the age of 15, he and four other friends from his neighborhood constructed their first boat. He has been sailing for almost 30 years and has a wealth of knowledge that he wants to share with others.

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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!

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Yacht and Ships – FAQs

Frequently asked questions and answers - yacht and ships.

FAQ’s and answers are provided to the public for quick reference to commonly asked questions. They are not to be considered legal advice. If you are conducting legal research or your question arises as a result of litigation, you should consult with an attorney or refer to the latest edition of the Florida Statutes.

What chapter of law governs the licensing and regulation of yacht and ship brokers and salespersons in the state of Florida?

Chapter 326, Florida Statutes, the Yacht and Ship Brokers’ Act

What is a yacht?

A yacht is a vessel that exceeds 32 feet in length, weighs less than 300 gross tons, and is propelled by sail or machinery in the water.

Cite: Section 326.002(4), Florida Statutes, and Rules 61B-60.001(1)(c) & (d), Florida Administrative Code

What is a new yacht?

A new yacht is a yacht that has never been titled or previously owned.

What is the difference between a Florida licensed yacht and ship broker and a Florida licensed yacht salesperson?

A Florida licensed yacht and ship broker is a person who has been licensed by the Division of Florida Condominiums, Timeshares, and Mobile Homes (Division), and who, for or in expectation of compensation: sells, buys, offers, or negotiates to sell or buy; solicits or obtains listings of; or negotiates the purchase, sale, or exchange of yachts for other persons.  An applicant for a broker’s license must file with the Division a surety bond or letter of credit in the sum of $25,000.  Additionally, a broker must maintain an escrow account in a Florida financial institution.  A Florida licensed yacht salesperson is a person who has been licensed by the Division, and who is employed by a broker to perform any acts of a broker.   Each salesperson’s license must remain in the possession of the employing broker until canceled or until the salesperson leaves such employment.  Immediately upon a salesperson’s withdrawal from the employment of a broker, the broker must return the salesperson’s license to the Division for cancellation.  An applicant for a salesperson’s license must file a surety bond or letter of credit in the sum of $10,000 with the Division.

Cite: Sections 326.002(1) & (3) and 326.004, Florida Statutes, and Rule 61B-60.004, Florida Administrative Code

What is an "employing" yacht broker ?

An employing broker is a Florida licensed yacht and ship broker who is responsible for the actions of all yacht salespersons under their license.   Each salesperson’s license must remain in the possession of the employing broker until canceled or until the salesperson leaves such employment.  Immediately upon a salesperson’s withdrawal from the employment of a broker, the broker must return the salesperson’s license to the Division for cancellation.

Cite: Section 326.004(14)(b), Florida Statutes

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.

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

How do I obtain a license to become a yacht broker or salesperson in Florida ?

To apply for a yacht and ship broker or salesperson license, you must file with the Division of Florida Condominiums, Timeshares, and Mobile Homes:

• a completed application ( DBPR Form YS 6000-1 )
• a complete set of fingerprints
• an original surety bond or letter of credit in the amount of $10,000 for a salesperson’s license or $25,000 for a broker’s license.

Department of Business and Professional Regulation

Attn:  FCTMH’s Yacht and Ship Brokers’ Section

2601 Blair Stone Road

Tallahassee, Florida 32399-1030

Contact us at 850.487.2987 if you have any questions.

Cite: Rule 61B-60.003, Florida Administrative Code

How long does it take the Division’s Yacht and Ship Brokers’ Section to process an application for a license to act as a yacht and ship broker or salesperson ?

An application packet is processed within a few days of receipt by the Division’s Yacht and Ship Brokers’ Section. A temporary 90-day license is issued if the application packet includes a completed application with required signatures, a $551 fee, a complete set of fingerprints, and an original surety bond or letter of credit. A permanent 2-year license is issued once the results of the background check are reviewed and found acceptable.

What steps need to be taken in order to change brokerage companies or make other changes to a yacht and ship broker or salesperson license ?

To update any information on your license, you must submit a Change Form along with your license to the Division’s Yacht and Ship Brokers’ Section. If you are changing brokerage affiliations or becoming an employing broker of your own brokerage, a $100 change fee must be remitted along with the Change Form. No fee is required for a name or address change, or if it is within 60 days of the expiration date of the license. The Division will reissue the license reflecting the changes indicated; any such reissuance will not result in an extension of the expiration date of the license. Note: Licensees must, not later than 30 days after a change of business address or affiliation, submit the updated information to the Division.

Cite:  Rule 61B-60.002, Florida Administrative Code

How do I find out if a yacht broker or salesperson is licensed by the state of Florida ?

You may verify a yacht broker’s or salesperson’s license by visiting www.MyFloridaLicense.com , or by contacting the Yacht and Ship Brokers’ Section at 850.487.2987.

When is a yacht and ship broker’s or salesperson’s license not required for a yacht transaction in Florida ?

A license is not required for a person who sells his or her own yacht; a transaction involving the sale of a new yacht; an attorney at law for services rendered in his or her professional capacity; a receiver, trustee, or other person acting under a court order; or, a transaction involving the foreclosure of a security interest in a yacht.

Cite: Section 326.004(3), Florida Statutes

How do I file a complaint against a yacht broker or salesperson ?

You may file a written complaint with the Division’s Yacht and Ship Brokers’ Section. To request a complaint form , you may call 850.487.2987, or download a printable copy from this page.  Please complete the form, listing all of your allegations, and include any documentation or backup information that you may have.

1. Mail your complaint to: Department of Business and Professional Regulation Attn:  FCTMH’s Yacht and Ship Brokers’ Section 2601 Blair Stone Road Tallahassee, Florida 32399-1030

2. Or, e-mail your complaint to the Customer Contact Center at https://www2.myfloridalicense.com/contactus/ .

3. Or, fax your complaint to 850.488.7149.

What types of activity are considered violations of the Yacht and Ship Brokers’ Act ?

Activities such as fraud or dishonest acts; misrepresentation; improper conduct; unlicensed activity; escrow violations, such as commingling of funds or failure to return deposits, are violations of the Yacht and Ship Brokers’ Act.  (Refer to Chapter 326, Florida Statutes, for a complete list of violations.)  The Division has authority to impose civil penalties up to $10,000 per violation, suspend or revoke licenses, take other administrative action, or bring an action in circuit court.

While the Division’s Yacht and Ship Brokers’ Section will accept anonymous complaints and tips from the public, supporting documentation should be submitted in order to assist in substantiating alleged violations of the Yacht and Ship Brokers’ Act.

Cites: Section 326.006,Florida Statutes, and Rule 61B-60.008, Florida Administrative Code

What protection can I expect from doing business with a licensed Florida yacht broker or salesperson ?

The Yacht and Ship Brokers’ Act requires all funds received pursuant to a sale, exchange, or purchase of a yacht to be placed in an escrow trust account.  Additionally, all licensed Florida yacht brokers and salespersons undergo a criminal background check, and are required to file with the Division a surety bond or letter of credit that covers their licensure period. Any person injured as a result of a licensee’s violation of the Yacht and Ship Brokers’ Act may file a claim against the licensee’s surety bond or letter of credit.

Cites: Sections 326.004(7) & (11) and 326.005, Florida Statutes, and Rules 61B-60.004 and 61B-60.006, Florida Administrative Code

How do I renew my Florida yacht broker or salesperson license ?

You may complete the renewal application online at https://www.myfloridalicense.com/ or mail in your renewal application to:

Department of Business and Professional Regulation Attn:  FCTMH’s Yacht and Ship Brokers’ Section 2601 Blair Stone Road Tallahassee, Florida 32399-1030

At least 60 days prior to your license expiration date, the Division of Florida Condominiums, Timeshares, and Mobile Homes will mail to you a DBPR Form YS 6000-6 (Application for Yacht and Ship License Renewal/Branch Office Renewal).  Your application for license renewal must include the $500 renewal fee and the surety bond or letter of credit, or proper continuation certificate.

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How to Become a Yacht Broker: Requirements Explained

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

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

Basic Knowledge of the Business

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

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

CPYB Certification

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

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

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

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

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

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

Do You Need a License for a Yacht Brokers Career?

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

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

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

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

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

Education, Degree, and School Requirements for the Career

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

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

How Much Do Yacht Brokers Make?

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

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

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

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

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

Tips on How to Become a Yacht Broker

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

FAQs About How to Become a Yacht Broker

Is it hard to become a yacht broker.

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

What about luxury yacht brokers?

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

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

Quitting Your Day Job?

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

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How to Become a Yacht Broker: 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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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 11 2024, june 11, 2024 11:00am - 1:00pm edt, cpyb: exam prep session, webinar date: june 11, 2024.

Presenter: Craig Nann, CPYB

Any CPYB Candidate (or CPYB certified member) is invited to participate in this exam prep session led by Craig Nann, CPYB. In this two-hour session, you will hear from 5 subject matter experts while they cover key topics under each of the five Principal Knowledge categories that candidates will encounter on the exam. Primarily intended for exam takers, but all CPYB’s who attend this session will earn 3 CE. Consider signing up and attending as a refresher!

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

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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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