Question: How do I become a luxury yacht broker?

How much money does a yacht broker make?

Overall, with salary and commissions, as a yacht broker, you could make an average of $121,000 per year. This depends highly on location and type of yachts sold. Some yacht brokers even make closer to $300,000.00 per year. Yacht brokers should be sales motivated and thrive in an unconditional work environment.

How do you become a luxury yacht salesman?

A bachelor’s degree in marketing and sales can be beneficial. You can pursue certification through the Yacht Brokers Association of America, and some states require yacht brokers to obtain a license. Employers prefer candidates with prior sales experience and a background in the boating industry.

What states require yacht broker license?

California and Florida are both the only states in America that require yacht brokers to be licensed, although the legal definition of a yacht varies between these states. To achieve licensing, you will need to hold any additional licenses required and pay a $10,000 bond to the state.

How do I become a yacht broker?

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.

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Where do yacht brokers make the most money?

What are Top 10 Highest Paying Cities for Yacht Broker Jobs

City Annual Salary Hourly Wage
Norwalk, CT $80,680 $38.79
Seattle, WA $80,421 $38.66
Vallejo, CA $80,402 $38.65
Concord, CA $80,231 $38.57

Do you need a brokers license to sell yachts?

Certification isn’t mandatory, but the Yacht Brokers Association of America (YBAA) recommends that sales reps get certified.

What do Yacht Brokers do?

A yacht broker is a specialist who serves yacht or boat sellers and/or buyers as a representative for the sale or purchase of a yacht or boat. … These two roles are referred to as listing broker (representing the seller and vessel) and selling broker (representing buyer).

Do boat salesmen make money?

The salaries of Boat Salesmen in the US range from $13,727 to $368,332 , with a median salary of $66,226 . The middle 57% of Boat Salesmen makes between $66,227 and $166,859, with the top 86% making $368,332.

How long does it take to become a yacht broker?

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.

How much commission do yacht brokers get?

A typical commission percentage that a yacht broker earns is around 10%, meaning that they will earn 10% of the price of the money the boat has sold for. However, some brokers can charge more or less depending on the size of the boat.

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What percentage do boat brokers charge?

Most yacht brokers tend to work on a commission basis, though every broker is different. The industry standard is around the 10% mark, which is paid by the seller.