You may complete the renewal application online at https://www.myfloridalicense.com/intercept.asp or mail in your renewal application to: Department of Business and Professional Regulation Attn: FCTMH's Yacht and Ship Brokers' Section 2601 Blair Stone Road Tallahassee, Florida 32399-1030 At least 60 days prior to your license expiration date, the Division of Florida Condominiums, Timeshares, and Mobile Homes will mail to you a DBPR Form YS 6000-6 (Application for Yacht and Ship License Renewal/Branch Office Renewal). Your application for license renewal must include the $500 renewal fee and the surety bond or letter of credit, or proper continuation certificate.
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From choosing a broker with a Florida yacht broker license to conducting your sea trial, these key tips will help you buy or sell your yacht in Florida.
For Floridians who feel the call of the ocean, a yacht can be a treasured investment. It can be the gateway to adventure, leisure, and the ability to explore the beautiful coastlines of the Sunshine State. On a yacht, you can relax with friends, go for a swim, enjoy a delicious meal, or even catch that meal fresh from the ocean.
However, a yacht is a major investment, and buying or selling one involves assuming certain responsibilities. From finding a broker with a Florida yacht broker license to paying all required taxes and fees, it’s important to be aware of the critical process steps before beginning your yacht buying or selling journey.
Anyone buying or selling a yacht in Florida should know about the nine key factors that we’ll discuss here. We’ll discuss four factors of buying a yacht in Florida, four for selling a yacht in Florida, and one best practice that yacht buyers and sellers alike should follow.
Both yacht buyers and yacht sellers will benefit from using a licensed and certified Florida yacht broker. Buyers will love the security and confidence that comes with working with an experienced yacht expert. Sellers will get a competitive advantage by working with someone who knows how to highlight a yacht’s best qualities and reach out to qualified buyers.
You can check a Florida yacht broker’s license by searching for the broker or salesperson’s name or license number in the Florida DBPR ’s records. If the yacht broker employs other yacht salespeople, the sales staff should hold Florida yacht salesperson licenses . Avoid working with a yacht broker or salesperson who has had their license suspended or makes excuses for their lack of licensure.
It’s also highly recommended to work with a yacht broker with a certification from the Yacht Brokers Association of America (YBAA). Their Certified Professional Yacht Broker (CPYB) certification is the industry’s gold standard for yacht sales professionals. A yacht broker must fulfill several qualifications to achieve CPYB certification, including passing a written exam and demonstrating at least two years of experience in the industry.
Know approximately what you’re looking for. .
Before beginning your yacht-buying journey, you’ll want to consider what you’re looking for in a yacht. Consider the major factors that will influence your selection, including:
While you’re considering these key factors for choosing your new yacht, start reading reviews of popular yacht models. Learn about the must-have features of today’s yachts and explore the listings of local yacht dealers. This “pre-selection” process is crucial for narrowing down the many models of yacht available and directing your attention toward the models that most suit your wants and needs.
Before purchasing a yacht, you should have the utmost confidence that the vessel is seaworthy and that you enjoy spending time on it. The best way to achieve this is through a professional survey and sea trial.
A professional yacht surveyor has the tools and expertise to give a yacht a true assessment of seaworthiness. You can find a qualified professional marine surveyor through organizations like the American Boat and Yacht Council , or your Florida yacht broker can recommend one. Many lenders require a yacht to be professionally surveyed before they will agree to finance its purchase.
You’ll also want to take the yacht out for a sea trial (essentially a test drive). During a sea trial, you’ll want to take note of key factors such as:
If you’re not a boating expert, bring an experienced friend (or even your surveyor) along during the sea trial. Remember that the buyer assumes the fuel cost of the sea trial, so reserve it for a yacht that you’re serious about buying.
Professional surveys and sea trials do increase the cost of buying a yacht. However, these costs pale in comparison to losses or repair costs you may incur from buying a mechanically unsound vessel, so resist the temptation to save money by skipping these important steps.
A sales contract is an essential legal document for a yacht purchase. Sales contracts should include all of the following information:
Buyers and sellers alike should have their sales contract inspected by an attorney with experience in maritime and/or contract law. In the event that any questions or disputes arise later, this contract will ensure that you can obtain legal recourse.
Owning a yacht is a major financial commitment that doesn’t end when you’ve signed the purchase papers. Yacht ownership involves numerous financial responsibilities such as:
Before making your purchase, do some research about how much you can expect to pay for these upkeep costs. Contact your local marinas to learn the cost of their available slips, and talk to an insurance company about their insurance products for marine vessels. Finally, don’t forget that you’ll also need to pay a 6 percent Florida sales tax on the yacht’s value.
Clean and service the yacht before putting it on the market..
The interior, exterior, and mechanical condition of your boat should all be in the best possible state before you list your vessel. Some steps that sellers can take to make a yacht appealing to a buyer include:
It’s often worth the cost to hire a professional boat detailer to get the interior and exterior of the yacht looking great. Owners of smaller yachts can save money by detailing their own boats, although it’s important to do your research on the proper cleaning techniques for your yacht model.
A marine mechanic should give the yacht a thorough inspection before you place it on the market. Even if your boat runs smoothly, it may have hidden mechanical issues that only a trained professional will notice. Make sure to have any repairs completed by a professional prior to sale, and get them documented in writing by your mechanic.
Unfortunately, it’s not as easy to find an accurate value for a yacht as it is for a car or truck. Thus, it’s important to be well-informed about the asking price that you set for your vessel. There will be a variety of factors that affect the value of a yacht in Florida, including:
Sellers can look at yachts of similar models and sizes on yacht listing sites to get an idea of the potential value of their yacht, but the best option is usually to work with a qualified Florida yacht broker. Brokers have access to years of yacht sales data that helps them find a realistic asking price for your vessel, and they know how to evaluate a vessel’s condition in ways that a layperson usually doesn’t.
For most buyers, a yacht’s online listing will be their first and only impression before seeing the vessel in person. You’ll want to spend some time crafting a listing that entices buyers and provides all of the relevant information, preferably with the help of a licensed Florida yacht broker.
It’s a great idea to hire a professional photographer to take HD pictures of your yacht’s interior and exterior. Clean, well-lit photography will help you emphasize the vessel’s most attractive features. Try to keep other boats and marina features out of the shots as much as possible.
Your listing should also include a complete summary of the boat’s most important information, including its make, model, year, and engine specifications. Make sure to have this information on hand, as well as the title and registration, before you reach out to a Florida yacht broker to list your yacht.
If you’re interested in entering the yacht business as a Florida yacht sales professional, it’s important to have the right credentials. You’ll need a yacht broker license or yacht salesperson license issued by the state of Florida, which you can apply for using state form BPR 6000-2 .
To get a Florida yacht broker license , a broker must register with the Florida Department of Business and Professional Regulation and provide a $25,000 yacht broker surety bond . A yacht salesperson licensure (which requires the salesperson to work for a licensed yacht broker) requires a $10,000 yacht salesperson surety bond . These requirements help ensure that licensed Florida yacht brokers are financially sound and that the customer’s financial interests are protected in the event of a dispute.
Note that yacht brokers must have at least two years of licensure as a Florida yacht salesperson working for a licensed broker. If you’re entering the yacht sales field for the first time professionally, you should begin your career as a licensed Florida yacht salesperson.
Buying or selling a yacht is a big decision that shouldn’t be taken lightly or made too quickly. Take your time to do the relevant research, and work with a trusted professional Florida yacht broker to help you get the deal that’s right for you.
For those on the path to their Florida yacht broker license, Surety Bonds Direct offers the easiest and most cost-effective way to get a surety bond in Florida . Call us at 1-800-608-9950 to speak to a surety bond expert, or get your yacht broker surety bond quote online today for free in just a few minutes.
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To apply for a yacht and ship broker or salesperson license, you must complete an application on DBPR FORM YS 6000-1, and submit it along with the $551 fee, a complete set of fingerprints, and an original surety bond or letter of credit in the amount of $10,000 for a salesperson or $25,000 for a broker.. References: Rules 61B-60.003, Florida Administrative Code
Using the links below, you can get information on licensing requirements, check the status of an existing application, apply using a printable application, or access the online application system if available for the specific business or profession. ... Yacht & Ship Employing Broker, Broker or Salesperson's initial License: Yacht & Ship ...
The yacht salesperson license allows you to work for a yacht brokerage and sell yachts under the supervision of a licensed yacht broker. To obtain a yacht broker or salesperson license in Florida, you must meet the following requirements: Be at least 18 years old. Be a high school graduate or have a GED.
In order to obtain a yacht broker license in Florida, applicants must first pass the FREC yacht broker exam. This exam covers a variety of topics related to the sale and purchase of boats, such as boat types, financing, and sales techniques. The exam consists of 80 multiple-choice questions, and applicants must obtain a score of 75% or higher ...
For example: You'll need to provide fingerprints, a completed application, and a surety bond. However, the surety bond amounts aren't the same. The Florida Yacht Salesmen License requires a $10,000 bond while the Yacht Broker License requires a $25,000 bond. You can find the price of your bond by applying here.
The yacht brokerage process typically begins when a boat seller lists the yacht with a broker. Generally, the seller will agree to pay a commission to the yacht broker when the vessel sells (usually 10 percent of the boat's purchase price). This commission will be paid to the selling broker at the closing.
This comprehensive video guide outlines the yacht and ship salesperson/broker license application process set forth by the Florida Department of Business and...
Step 1: Complete your Florida yacht and ship salesperson or broker license application. You can apply for your yacht and ship broker or salesperson's initial license online through the DBPR Online Services or fill out the physical application DBPR Form YS 6000-1. If you have questions while completing your application, you can contact the ...
Applicants for yacht and ship licenses in Florida must meet specific criteria. First, individuals must be at least 18 years old and of good moral character. Second, they must complete a pre-licensure course approved by the DBPR. Third, applicants must pass a written examination administered by the DBPR. Fourth, they must submit a surety bond or ...
Welcome to the Department of Business and Professional Regulation's Application Center. Using the links below, you can get information on licensing requirements, check the status of an existing application, apply using a printable application, or access the online application system if available for the specific business or profession.
Published 10/19/2010 11:42 AM | Updated 12/13/2018 03:00 PM. How do I find out if a yacht broker or salesperson is licensed by the state of Florida? You may verify a yacht broker's or salesperson's license by visiting www.MyFloridaLicense.com, or by contacting the Yacht and Ship Brokers' Section at 850.487.2987.
A Florida licensed yacht salesperson is a person who has been licensed by the Division, and who is employed by a broker to perform any acts of a broker. Each salesperson's license must remain in the possession of the employing broker until canceled or until the salesperson leaves such employment.
Proof of present employment as a yacht broker for at least 1 year. Proof of employment as a yacht broker for at least three years in the past 10 year period. Proof of ethical yacht sales and necessary documentation. A dedicated escrow/trust account for all client funds in trust. Where applicable, the individual holds all necessary licenses ...
The 2023 Florida Statutes (including Special Session C) 326.004 Licensing.—. (1) A person may not act as a broker or salesperson unless licensed under the Yacht and Ship Brokers' Act. The division shall adopt rules establishing a procedure for the biennial renewal of licenses. (2) A broker may not engage in business as a broker under a ...
The broker is your employer, and his/her signature shows you are respectable in the industry. Finally, send your bond, fingerprint card, and application in with a check for around $550. You will get a 90 day temporary in a month and later your permanent license. To be a Florida yacht broker, you must pay a total of $650 dollars, have a clean ...
The course is not required at the time of application submission. You may submit application for state exam approval prior to taking the pre-license education. See the list of approved providers. EDUCATION EXEMPTIONS: If you hold a 4 year degree, or higher, in real estate you may be exempt from the pre-license education requirement.
WASHINGTON, DC − On November 15, 2023, the Certification Advisory Council of the Certified Professional Yacht Broker (CPYB) awarded the 2023 Vincent J. Petrella Chairman's Award to Brian Commette —a CPYB and yacht broker for Northrop & Johnson in Newport Beach, California. view all news.
How to become a yacht broker. 1. Take college or university classes. Although some brokerages may not require a bachelor's degree in sales or a related field, consider taking postsecondary courses in sales and marketing to prepare you for this role. Even if it's not required by employers, obtaining a bachelor's degree can benefit you if you're ...
Eligibility Requirements. If you have been a yacht broker for two-years and work or are affiliated with a Brokerage House that follows strict ethical business practices, you are candidate eligible. Becoming a CPYB signals to your buyers and those in the profession that you have broad-based competencies and skills that puts you in an elite group.
Attn: FCTMH's Yacht and Ship Brokers' Section. 2601 Blair Stone Road. Tallahassee, Florida 32399-1030. At least 60 days prior to your license expiration date, the Division of Florida Condominiums, Timeshares, and Mobile Homes will mail to you a DBPR Form YS 6000-6 (Application for Yacht and Ship License Renewal/Branch Office Renewal).
You'll need a yacht broker license or yacht salesperson license issued by the state of Florida, which you can apply for using state form BPR 6000-2. To get a Florida yacht broker license, a broker must register with the Florida Department of Business and Professional Regulation and provide a $25,000 yacht broker surety bond.
If you are looking for a license or a license verification in Florida, you can use the Licensing Portal - License Search feature on MyFloridaLicense.com. You can search by name, license number, city, county, or profession. You can also access the online services of the Department of Business & Professional Regulation through this portal.
licensure period. Any changes made after issuance of the original license shall be filed with DBPR (Yacht & Ship Broker's Program), along with the required $100 change fee. Upon receipt of the change notification and fee by DBPR, a new license will be issued and mailed to the licensee. NOTE: Changes include licensee or company
The state requires these bonds be issued with a $10,000 bond amount for 2 years, so the $175 premium includes both years for salesperson bonds. Florida yacht and ship broker bond amounts are set at $25,000 and require a quick underwriting review to determine pricing. Premiums for the state-required 2-year term start at $225 for broker bonds.