How to become a Yacht Broker?
Published: 13 September 21
Yacht Brokers are professionals who buy or sell their yachts either through a client wishing to sell or through the brokerage. They help clients sell by managing several factors to help make this possible. This includes; obtaining potential yachts or buyers, negotiating prices at the right market value, marketing the yacht via their various platforms, and drawing up legal documents to help ensure protection for buyer & seller.
As well as supporting these elements of yacht brokerage, a yacht broker can occasionally represent both the buyer and the seller in a transaction, negotiating to deliver a fair deal to both parties.
The Association of Brokers and Yacht Agents (ABYA) is an association that represents professional yacht brokers, dealers and also new boat salespeople. ABYA members must have demonstrated knowledge and application of the necessary legal, financial and tax documentation required to pass on a good legal title when buying a vessel to become a member.
ABYA members may be brokers, dealers or agents, the essential difference being that a broker acts as an intermediary in a sale between a buyer and a seller. In contrast, the dealer or agent is usually the boat's owner for sale or a representative.
So, how do you become a Yacht Broker?
By completing the ABYA Introduction to Professional Yacht Brokerage course, you will gain invaluable insight into yacht brokerage and what it takes to be a yacht broker. It is taught by professionals for professionals & is made for Yacht Brokers of all levels. You will learn everything from Marine Law, Finance & Insurance to what to look for in the required legal documentation, negotiations & the role of a Marine Surveyor, whether you're an experienced professional who would like to hone your craft or new to yacht brokerage. You would like to learn the diverse components that go into being a Yacht Broker.
Upon completing this course, you will have the opportunity to apply for a 1-year trainee membership with ABYA, where you will gain the support & guidance of your ABYA Chairman, ABYA Members and office staff at the Glassworks. You'll also have exclusive access to networking events and other relevant courses hosted by the ABYA.
ABYA members can benefit from:
- A broad range of knowledge within the membership, which can be shared either individually or via training events
- The opportunity to network with fellow industry professionals
- Access to the ABYA Academy training programme
- Links to insurers, lawyers and finance houses
- Ongoing contract with the MCA for registration measurement surveys
- Links to the YDSA for small commercial vessel coding requirements
- Bi-monthly e-newsletters providing varied information on events within the industry, new technologies, etc.
- A range of standard documents for the sale/purchase and listing of boats
- Access to a knowledgeable secretariat