Beware of any Yacht Brokerage that wants you to invest money in the company before you start!

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Comments (40)

Harry Flagler in Syracuse, New York

89 months ago

I am surprised with your statement. Approximately 6 years ago I joined a company that taught me how to broker boats. I paid $8,000 for the training and the business startup support. It was something I consider the best spent money in my life. Several other benifits came my way as well. I was independent, I could do what I wanted, I did not have to involve myself with the petty things in an office, all I did was help people and make money.
Mr Troyer, are you aware that over 23 brokers on the eastern seaboard have a fee of some sort to join their organization? Some fees are upwards to $32,000. One of the reasons they claim is to insure the peerson is serious, and will work hard for the company. When I paid $8,000 and I compaired the training I received and what the otherr companies give, I was fortunate.
Are you also aware that Real Estete Agents over all pay more than I do to operate my business. How about the monies paid by financial brokers, stock brokers, mortgage brokers? They paid, over the 6 years I have been in business approximently 3 times more than me. You seem bitter. Or maybe you were unable to make it alone. All I want to say is I had a great experience. By the way, with the training I have received, the support I am given I have earned a very comfortable living. Good luck to you

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Suzanne in Saint George's, Grenada

88 months ago

Hello Andrew,
Can you point me in the right direction for the $500 training kit on the web?
you're obviously much better than me at searching :>)
thanks S.

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Steve Stone in Saint George's, Grenada

88 months ago

I've been looking for yacht sales training, would like to set up but need some more information. Any help any where to go for this with out signing my life away and ending up as an office for someone else who want 30% cut on everything sold.
Any help would be great.

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This is all non sense in Cambridge, Massachusetts

59 months ago

1 you need to give none of your money away to get in this business

2 if you need to be trained then you would not be a broker I'd want to work with

3 a new broker should have prior maritime experience ie, captain, mate, a little engineering, and a lot of knowledge on all types of vessels from sailing to motor.

4 the only training you should need going in fresh is a little help with listing's, contracts, and sales procedures which can vary.

I've been in this industry 15 years and never once had a new broker pay his way into my business. Just another way for a starving broker to make a buck.

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Parillo in Dallas, Texas

59 months ago

Sure RobM. Companies like World Maritime's entire buisness is getting fools to pay them money! Ever look at the web site? Most of the boats have been off the market for years and they never seem to sell anything! The money made is from new brokers paying the fees. Guys that dont have a chance in yacht sales being sold on the dream of being a broker! And yes the YBAA charges for Prep and Certification, and McDonalds charges for a burger, whats your point. Good brokerages dont charge for training. You work to help producers and keep them not charge them. Sign of the times? LOL Happy to train you for your $5k! Shoot, you can fly in and Ill even let you buy my dinner.

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This is all non sense in Cambridge, Massachusetts

59 months ago

RobM in Stamford, Connecticut said: Z Yachts and World Maritime are hardly starving companies.
The companies that charge for training are primarily geared for new brokers coming into the industry. The brokers who are in those companies and are doing fine, (relative to the times) and they all say the training was worth it. Even YBAA charges for prep and certification. Real estate charges for training . You pay to become a Capt. you pay to become Yacht Crew, There is a price for education. And there are a few companies that charge a minor fee for indoctrination. When you think about it a person who will invest in themselves will try harder. A sign of the times.

Training for what? Luck? all the industry is... is luck. I get a central listing and it sells I make money. My luck is if I can match a seller to a buyer and I can negotiate a commission for this. I train my new brokers in listing agreements, contracts etc... I count on them to come in with knowledge on surveying, some engineering, skills to operate a vessel for a sea trial etc... I am broker of boats therefore should have a few years experience working on boats. Sea going vessel's are nothing like homes. Also selling a house has a lot more legalistic ave you have to take. If one of my new brokers matches a seller and buyer I walk them through the steps to complete the sell and take part of their commission. Nothing I could teach is worth 5,000 bucks. Most new brokers do not make it. So why hurt them more financially than they are going to hurt their selves for trying. It takes time and money to work your way in and If you can afford 5 k to get trained and months to live until you make a sell. Then you my friend are a lucky man. I saved up for 12 years 4 USCG 8 years working on motor and sailing yachts from engineer to captain until I left that to open a brokerage firm. It took me over 1 year to make my first sell on a 30k boat at %6 commission. Then I "got lucky".

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ManateePocket

54 months ago

I welcome the opportunity to train a new broker on my time and dime provided they have some boat knowledge but more importantly professional sales experience. That is the way I learned five years ago. And I am not a "seasoned" boater. Yes I boat but I am really a professional sales person. Give me an individual with sales knowledge and money to wait out the storm and I will make them a boat broker. This is not rocket science but it does require ethics to make a living. Looking for the quick buck will frustrate one quickly in this business.

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MN Broker in Winona, Minnesota

54 months ago

Cambridge thinks brokerage is "luck" and it took over a year to make his first sale? That is the single best argument I can think of for training. You don't have to be trained in this business it just makes it much easier to be successful, quicker.

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zircon70 in Pompano Beach, Florida

52 months ago

I would say after going through yacht broker training that it was NOT worth the money. Primarily because the "house gets 50% and if you co broker either with a selling or buying broker you get 50% of the other half. Or 25% of the commish. The house handles the money and closing so you might get a few extra charges against your commish. if your looking to make a killing its stacked against you until your in the business for a long time. Even then its questionable. stay away and do something constructive. With the internet you can find a boat to buy easily without a broker. its called FSBO. for sale by owner. Good luck and stay away from WME Yachts.

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what2do in Sacramento, California

52 months ago

I have to say aftering having many talks with WME I can not agree with what they do either! My thing is why do they need to charge money up front to train you then hit you on comissions as well? It's like double dipping. I understand they "give" you the investment money back over time but they are not giving the interest they are making off you money back. They say it is to "Cover cost" of training and marketing and printing and so forth... well then why do over 90% of the brokerage firms in this country NOT do that? I do not believe this company is a fake or not really a firm but it does bother me that certian questions can't be answered by them or why so much cash has to be put up to cover cost of start up and then there is that charge that comes out of your comission side of the monies. Am I wrong??

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what2do in Sacramento, California

52 months ago

This is all non sense in Cambridge, Massachusetts said: 1 you need to give none of your money away to get in this business

2 if you need to be trained then you would not be a broker I'd want to work with

3 a new broker should have prior maritime experience ie, captain, mate, a little engineering, and a lot of knowledge on all types of vessels from sailing to motor.

4 the only training you should need going in fresh is a little help with listing's, contracts, and sales procedures which can vary.

I've been in this industry 15 years and never once had a new broker pay his way into my business. Just another way for a starving broker to make a buck.

Hey I know a LOT about boats, but not so much about "sales push" but will learn quick! Can I come work for you?

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RobM in Stamford, Connecticut

52 months ago

1st consideration if your going to consider WME or ZY or one of the few others is this, Yacht brokerage is a very Closed industry. If you are new and have no maritime experience, they offer a gateway into a new career. You cant go to Northrop & Johnson or Fraiser Yachts with no experience & be accepted. They have limited desk space & only an experienced yacht broker has an opportunity to work there. There is no right or wrong here. Its an individual decision, if you want into the business and you have no following or past brokerage experience, WME or ZY makes sense, 2 weeks of training & your in, along with coaching & mentoring. If the money paid out like any other tech or trade school does not make sense to you that's fine. You probably will then not be working in YS. Whether this approach makes sense or not, You get to decide. These companies(I belong to neither) provide an alternative approach to getting in when no one else may take you,& most likely their "training chrg" will pay for itself in the 1st year. These companies only make real sense & offer real value if you have no prior experience. They offer the new person an opportunity which may not exist otherwise. Also in these days of intense competition and smarter business models, the emphasis is on Sales Tactics and strategies, Not on being a Motor Head. Your going to start doing small boats, & grow from there. I'd rather have a new broker with mild boating experience but good computer skills & good business habits & work ethic, & that's the person that will get listings & sell boats. Bottom Line, You get to choose. You could certainly get a Serv Pro Franchise & be a great Janitor for 20 or 30 K, or spend 8K on starting in Yacht Sales.(ps: both the above Serv Pro and WME offer no guarantee of doing business or success, Welcome to capitalism ) I have met brokers from both the companies above & a few others, most that are still functioning a few years later & are successful & applaud the company

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RobM in Stamford, Connecticut

52 months ago

(continuation of above)

& believe in it. The people that wash out go on to something else. The choice is yours. They offer opportunity at a moderately reasonable price for a new person. If your an existing broker, this probably does not make sense, but then your already working for a firm. Because All quality, successful brokers, with good business skills and work ethic,,,are working for a firm as they read this.

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Robert Pulliam in Bluffton, South Carolina

45 months ago

I would be interested in speaking with you. My email address is rlpconsult@earthlink.net. I have had several boats in my lifetime and I know what an customer would want. I would like to start this business.

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Hugues Broker in Paris, France

44 months ago

Hello,

I'm French an would like informations about the career of yacht Broker (Studies, oportunities, the future...) It very difficult to learn about that in France. My email:hugues.lachappelle@gmail.com. Thank you

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nelsondematos@live.com in Rueil-malmaison, France

32 months ago

Hugues Broker in Paris, France said: Hello,

I'm French an would like informations about the career of yacht Broker (Studies, oportunities, the future...) It very difficult to learn about that in France. My email:hugues.lachappelle@gmail.com. Thank you

Hi, have you made any progress in your adventure? I'm also in the IDF.

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sailornelson in IDF, France

32 months ago

Hi, have you made any prosgress in your adventure? I would like to know.
I'm also in IDF.
regards
nelson

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Brad in Fulton, New York

29 months ago

i'm interested in becoming a yacht broker. i spoke to someone at(i think) World Maritime Exchange. they quoted me $4,000 to do it on-line, and $7,500 to do training face-to-face in Ft Lauderdale. is this worthwhile? are they any companies that don't charge for training?

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Brad in Fulton, New York

29 months ago

i am interested in becoming a yacht broker. i spoke to someone at (i think) World Maritime Exchange. they quoted me $4,000 to train on-line, or $7,500 for face-to-face in Ft Lauderdale. is this worth it? are there companies who don't charge?

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robm in Stamford, Connecticut

29 months ago

Try the career section at www.robertchristopheryacht.com

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robm in Stamford, Connecticut

29 months ago

Brad in Fulton, New York said: i'm interested in becoming a yacht broker. i spoke to someone at(i think) World Maritime Exchange. they quoted me $4,000 to do it on-line, and $7,500 to do training face-to-face in Ft Lauderdale. is this worthwhile? are they any companies that don't charge for training?

Brad, try the career section at www.robertchristopheryacht.com no large outlay and intense training program.

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Brad in Fulton, New York

29 months ago

thanks, i'll check this out!

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robm in Stamford, Connecticut

29 months ago

Brad, If I can be of any help please let me know.

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Brad in Fulton, New York

29 months ago

i need to find out about licensing in various states. i found a company in florida, that does not charge for training. what they told me, is that i would need to pay the licensing fee for the state of Florida, and then once i get that, they can get me going. right now, i'm in upstate NY, about 15 minutes south of Lake Ontario. i'd like to get into this, to not only be a career change, but to take care of my family. i have some job offers in the meantime, as i am aware, it could be a while before i make any kind of a sale of a boat. so, i will have some kind of income coming in, in the meantime. but, i'd really like to do this full time. i'm a former merchant marine, and i still know my way around boats, and navigation, lights, signals, rules of the road for boating, and radio communications. i also know some knots, not as many as i need to know, but enough to get by. i also know about handling of flags, pertaining to boats: in rain, you take the flag down. when it gets dark, you take the flag down. i know some engine room stuff, things like engine room watches, some basic maintenance. i also know about man overboard drills and rescues, and ship-board fire-fighting, and fire drills as per Coast Guard Regulations

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robm in Stamford, Connecticut

29 months ago

Brad, Florida licensing will cost close to $1000. or more, including a bond, a sponsor, state license fee and salesman fee. The difficult thing is being able to find a sponsor. It's a closed state and you need to work under a sponsor for two years. You can sell boats under 32' with no license and new boats with no license. You are years away from needing Florida Licensing. You're in New York. If you're in New York there is no need to do this. email me at rcmysna at aol dot com I can help in the process.

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Brad in Fulton, New York

29 months ago

i sent you an e-mail!

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Brad in Fulton, New York

29 months ago

i sent you an e-mail, Rob

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Brad in Fulton, New York

29 months ago

Hey Rob,
would you happen to know what this state's requirements are, as far as becoming a yacht broker? i like the program through Robert Christopher, i just don't have the $595 it was telling me i need to outlay, and the cost to purchase shirts, hats, business cards, etc. i suppose i could send in the application, and figure out a way to come up with the money. it's just that i'm unemployed right now, so money is very, very tight right now. i'd like to be able to do this as soon as it's possible

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Brad in Fulton, New York

29 months ago

Rob, would you happen to know what NY's rules are as far as being a yacht broker? i'm still reading through the information i was sent. i don't have the $595 right now, i'm unemployed

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Kevin in Fort Lauderdale, Florida

27 months ago

Brad in Fulton, New York said: i'm interested in becoming a yacht broker. i spoke to someone at(i think) World Maritime Exchange. they quoted me $4,000 to do it on-line, and $7,500 to do training face-to-face in Ft Lauderdale. is this worthwhile? are they any companies that don't charge for training?

Go to www.yachtbrokerinstitute.com for $499 for online course it will give you a great foundation to get started and get hired. There is even a referral service for graduates, with current yacht brokerage companies looking to hire graduates of the course!

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Peter Gough in NY

26 months ago

I want to start investing professionally. I have been investing for my dad unofficially for a year now. I find it pretty easy and I want to start a company. Im 20. I want to start investment partnerships and take 12 of anything earned over 6. Now please down start talking about how risky the stock market is or how i cant do this stuff or whatever. How can I legally start an investment company.

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BoatMan xo in Baltimore, Maryland

17 months ago

Do you know how many successful brokers there are? Successful in my mind is, independent, earning $200K+ annually, and having a good time. I have been doing this for over 20 years. At the time I started, WME Yachts, z-Yachts, Robert Christofer, and eGlobal were the players. I researched each and WME Yachts had the most complete training and support system of all.
I was looking for an independent business, I called the shots, my brokerage worked for me, and I could be earning 200K+ annually. I have beed doing that, except for those years where I had the recessitate my other business, WME Yachts Partners with me and I am successful.
The other companies offered very different services, and training. And WME Yachts refunded the entire training and development fee.
If you are just looking for a sales job don't pay. But if you are looking for high rates of earnings, independence, equity etc, them buy a mentor.
There is another section here I see that asks what you need to be trained on. I will comment there on that, WME Yachts has trained me to have my own virtual office with 5 brokers.

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RobM in Stamford, Connecticut

17 months ago

BoatMan xo in Baltimore, Maryland said: Do you know how many successful brokers there are? Successful in my mind is, independent, earning $200K+ annually, and having a good time. I have been doing this for over 20 years. At the time I started, WME Yachts, z-Yachts, Robert Christofer, and eGlobal were the players. I researched each and WME Yachts had the most complete training and support system of all.
I was looking for an independent business, I called the shots, my brokerage worked for me, and I could be earning 200K+ annually. I have beed doing that, except for those years where I had the recessitate my other business, WME Yachts Partners with me and I am successful.
The other companies offered very different services, and training. And WME Yachts refunded the entire training and development fee.
If you are just looking for a sales job don't pay. But if you are looking for high rates of earnings, independence, equity etc, them buy a mentor.
There is another section here I see that asks what you need to be trained on. I will comment there on that, WME Yachts has trained me to have my own virtual office with 5 brokers.

Boatman, I commend you on your commentary here. I am the President of Robert Christopher Yacht Sales and its rare for people to endorse other companies. However you made a good move in WME. We have worked with them from time to time and they are professionals. Our program here at RCYS was actually the first of this kind. We were early adopters of the internet and going back into the 70 we understood that we could teach others. However there is resistance in human resources for people to invest in themselves. Yacht Brokerage is not a job; its a profession. And just like in real estate or a series seven license there is speicalty training and costs associated in yearly functioning in any speicalty and regulated marketplace. Here at RCYS we are Florida licensed, have a global program and the best training in America.

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BoatMan xo in Baltimore, Maryland

17 months ago

Peter Gough in NY said: I want to start investing professionally. I have been investing for my dad unofficially for a year now. I find it pretty easy and I want to start a company. Im 20. I want to start investment partnerships and take 12 of anything earned over 6. Now please down start talking about how risky the stock market is or how i cant do this stuff or whatever. How can I legally start an investment company.

I think you are in the wrong Brokerage discussion group.I think you need financial brokerage, this is Yacht Brokerage.

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BoatMan xo in Baltimore, Maryland

17 months ago

Kevin in Fort Lauderdale, Florida said: Go to www.yachtbrokerinstitute.com for $499 for online course it will give you a great foundation to get started and get hired. There is even a referral service for graduates, with current yacht brokerage companies looking to hire graduates of the course!

Kevin, you admit that personal training is best and really the only training that works. However you sell a book.

Lets talk about what a brokerage wants to hire, and when they hire what is the risk the brokerage takes.

First off, most brokerages have brokers working for them and they are in compatition with the other brokers in the house. So when a brokerage managing broker hires a broker he can take heat from the other brokers because they think this extra person will be taking away from the "PIE" they have to work with. So a Managing Broker really has to be careful.

Now what does a Brokerage look for. Bradford is hiring right now, and they want a person with experience and a good handle of how the industry works.
I know Bradford is a very respected brokerage, however that is far as my knowledge goes. But I will guess they are looking for the following: Experience of 5 years, bring a book of business with the broker, understand closing procedures, know where to find new clients, new boats for sale, and know how to find boats that are not already on the market. A brokerage wants a person who is active and always talking to people to sell and buy boats. They are looking for a polished professional, who may do this part time or full time but they have made it part of their life style, and lastly, the successful candidate will look, dress like a bradford professional.

Now comes some of the people complaining about some companies charging $$ for their time and expertise training them to look like the successful candidate for the aforemintioned position. And they want someone to do it for free.

To Be continued

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BoatMan xo in Baltimore, Maryland

17 months ago

Lets look at a company hiring people.
Trucking Company Wants an experienced driver Understandable
Brewing company wants a person who knows beer processing, has experience in a fast production environment, Take a engineering company, they want engineering experience. You can agree to this. However you walk up to Coors and walk in as say, train me in beer processing I am a great beer tester or taster, I do it every night.
Ithis is what I see most of these people complaining about, they have no experience except they own a 20' boat, sailed on their fathers boat, or i have heard them say I am a fast learner, I love the water and working around boats. And they expect a multi million dollar company and staff to take them on and train them, just because they once owned a boat, or their uncle did.

Here is the question. What do you bring to the table. Every empolyer asks this question. How can you add value to my business? If you are an experienced mechanic, are you experienced on the cars I sell or work on? If so we might hire, if not, lets keep looking.

So it boils down to if you arn't bring anything to the company in skills and experience, which equals $$$ the come to the table with Money to get trained and a person that can add value to the company.

To be continued

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BoatMan xo in Baltimore, Maryland

17 months ago

I get a bit hopped up on this subject as you can see. I have been a broker for a long time and I worked hard to get there. I selected WME Yachts Ltd to provide me with training and here is what they did for me. I had to work hard, but I was focused based on the training.
First they taught me how this is a true Profit Center and that is is measurable and accountable.
Then they showed me how I can help marinas and new Boat Dealers where the marinas and boat dealers win and so do I. They taught me how to have 60 to 80 boat for sale in the first 4 weeks. And then how to determine the probability of sale for each boat. Once I knew the Probability I was given a formula how to bring the probability up or whatever it needed. Then how to enhance the boat so it becomes easier for the buyer to buy. Then we went into how to sell at a distance and we had a training session titled " How do I gain the respect and trust form a boat owner/seller, even if I don't sell the boat?"
Then we got into how to qualify a buyer. This saved me more time and money than any other parts of the training. Wow, I thought I knew it all. I was after all a Real Estate Agent. WME Taught me a thing or two here. The faster you can qualify a buyer the faster you can get them into a boat, and with the least cost to you. Then to negotiation sales techniques. Then to leads, they provided me with 200 to start, and each week there after on average 10 to 15.

Here is the kicker:
They refunded all that I put into training and business development, and they gave me a written money back guarentee if i did not accomplish my goals set for the first three months.

I hope this helps. there are other brokerage houses that train and support, they may be equally as good and credible as WME Yachts. All I am saying this is what was provided to me, and I was very successful and still am. GOOD LUCK

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BoatMan xo in Baltimore, Maryland

17 months ago

Harry Flagler in Syracuse, New York said: I am surprised with your statement. Approximately 6 years ago I joined a company that taught me how to broker boats. I paid $8,000 for the training and the business startup support. It was something I consider the best spent money in my life. Several other benifits came my way as well. I was independent, I could do what I wanted, I did not have to involve myself with the petty things in an office, all I did was help people and make money.
Mr Troyer, are you aware that over 23 brokers on the eastern seaboard have a fee of some sort to join their organization? Some fees are upwards to $32,000. One of the reasons they claim is to insure the peerson is serious, and will work hard for the company. When I paid $8,000 and I compaired the training I received and what the otherr companies give, I was fortunate.
Are you also aware that Real Estete Agents over all pay more than I do to operate my business. How about the monies paid by financial brokers, stock brokers, mortgage brokers? They paid, over the 6 years I have been in business approximently 3 times more than me. You seem bitter. Or maybe you were unable to make it alone. All I want to say is I had a great experience. By the way, with the training I have received, the support I am given I have earned a very comfortable living. Good luck to you

Harry, I just went crazy wit a comment. I did not read your before, or else I would not have used up so much of my time. You are right on my friend. You did the same as me, you worked hard, perfected your skills and used all the support for your benefit. Good for you.
Here is wher I am amazed, mor people indicated they did nit find you words and experience useful. It sort of describes the low level people complaining. Nothig satisfies them. Good Luck, I hope I can co-broker with you some day.

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BoatMan xo in Baltimore, Maryland

9 months ago

Hey, I just saw a deal on yacht broker training and boat sales. It is for $599.00. It is a video and workbook full service yacht broker training and development program.

Take a look at www.vimeo.com/ondemand/ensignprofitcenter . I looked ot over it seems pretty complete, and it sets you up for your own business, working for your favorite yacht brokerage.

Here is what they say: How would you like to go into a boat dealer or brokerage and say to them! "I want to consider working for you. I am trained, I have a book of business that I will bring along. Can you use a person like this?"

or

" I want you to hire me. I don't have any experience, but I am a fast learner, and I like boats. This looks like a fun job."

Who would you hire?

I think this is the route to take, at least look into. Yacht Brokering and boat sales is a high paying job, and it is fun, but you have to know what you are doing. Remember this industry is regulated by each state. You have to know what to do.

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Bruce @ POP Yachts in Conway, South Carolina

2 months ago

Anyone on here who has a passion for boats, tech savvy and want to learn the ins and outs of the brokerage business, feel free to reach out to us. I'm currently hiring nationwide, the only out of pocket expense that you would have is for your license if your are located in Florida or California. Come join the biggest in the industry and learn how to do things the right and ethical way without all the upfront costs. Over 5100 listings nationwide.

www.popyachts.com

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