Frequently Asked Questions
Q. How long will the course take me?
A. That depends on how much time you have to dedicate to the course and how knowledgeable you are about the products and terminology, however we estimate that it will take someone about a month of part time studying to complete this course.
Q. How much is the On-line Course and how do I pay?
A. The On-line Course is US $599.00, which allows 1 year of access to the “Members Only” site with all of the course materials, as well as reference materials and sample forms. Payments are processed through PayPal and you can pay by Visa or Mastercard. We also accept checks made out to YBI LLC, however you will not have access to the site until after the check clears our bank.
Q. Is there any sort of guarantee?
A. Yes, subject to the terms and conditions of use, if you are not satisfied with the course or course material send us a written notification within the first 7 days of enrollment your course fee will be refunded (less processing fees).
Q. Is this only for American or Florida Brokers to be?
A. No, this comprehensive course is designed to give everyone, regardless of their locale, the foundation for them to be able to get started and grow in the yacht brokerage field.
Q. Will I be able to get a job after I take the Course?
A. While we cannot guarantee anyone a job, we do have a referral system of yacht brokerage companies who are always on the lookout for ethical and properly trained professionals. Remember the same barrier for individuals looking to get into the yacht brokerage is the same one experienced by companies looking for new people to join their team – there is no formal training course. Furthermore these select companies have agreed that they will reimburse your direct Online course cost IN FULL upon presentation of your Certificate of Achievement and at time of your first yacht sale.
Q. How do yacht brokers get paid?
A. Most yacht brokers, similar to real estate agents are commission only sales. However there are some companies and new boat manufacturers that pay a salary or a draw with a smaller commission schedule.
Q. How long will it take to become a Yacht Broker?
A. In most States, after you have completed this course you will have the foundation to start as a yacht broker immediately.
Q. Do I have to be licensed as a Yacht Salesperson or Yacht Broker in Florida?
A. Yes, (if you are selling brokerage vessels over 32′ in length) and you have to be bonded as well. This course contains all of the information needed for you to be able to get your bond and license.
Florida Law requires that a newly licensed salesperson work under a FL licensed yacht broker for 2 years before they can apply for a Broker’s license.
Q. What other States require a Yacht Salesperson/Brokers License?
A. Almost all States require an Occupation License, but this is different from a Yacht Brokerage license. To our knowledge the state of Florida, the state of Virginia and California are currently the only States that require specific licenses to ply Yacht Brokerage. At the time of this writing California is the only state that requires individuals to take a test prior to issuing a license. However, always check with the laws in state or country where you intend to do business – as laws are constantly changing.
Q. Do I have to work for someone else?
A. Actually, technically you don’t work for someone else, similar to real estate you are an “independent contractor” and as such you set your own hours, schedule and method of working. While we feel it would be advisable to work under an experienced Broker while you cut your teeth on listing and selling some boats, you are not obligated to do so in most States.
Q. So how much can I earn as a Yacht Broker?
A. Ah, how long is a piece of string? Like most industries the 20/80 rule applies in yacht brokerage, 20% of the brokers make 80% of the money. It will depend on where you are in the country/world, length of selling season, value of boats typically sold, number of yachts sold. Obviously if you are selling a $10,000,000 yacht where a commission may be as high as $300,000 for the individual salesman, it’s easy to earn some very good money. Brokers who are top of their game earn millions of dollars a year. The sky is truly the limit!
Q. How much is the Live Seminar and what does it include?
A. The YBI founders have years of combined experience organizing and presenting dozens of Yacht Brokerage related seminars – see the “About Seminars” (hyperlink) on the Nav. Bar for more detailed information. The price for the weekend seminar series has not been determined, however please register your interest by sending an email to firstname.lastname@example.org and we will send you updates, pricing and dates.