Jul 19, 2016
How To Become A Yacht Broker
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 on the pursuit to 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 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.
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, 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!