Anyone a Yacht Broker?

[dnifedem85]

I was wondering if any one on the forum is a yacht broker or knows a yacht broker? I am a young guy, fresh out of college looking to get in to the yacht brokerage field. I want to know how others were able to break in to the business and any suggestions you have for someone who wants to become a yacht broker. Thanks for any help, suggestions and stories!

 

[Don S]

Re: Anyone a Yacht Broker?

Really not a good time for that

 

[jay_merrill]

Re: Anyone a Yacht Broker?

I worked as a yacht salesman at a brokerage many years ago on the central, east cost of Florida. I found it to be fun and it wasn't a bad job for a college student, because I could run back and forth between classes and the office. I also got to fool with alot of boats, which was a pretty good deal for a guy who could not afford a boat of his own at the time.

If I were going to try this in the current economy, I would try to get on with a brokerage that handles high end boats. Hopefullly, dealing with folks with lots of money, would allow a better shot at moving some merchandise. It would also allow for a very nice commissions, because sales could be few and far between.

Ultimately, however, this might not be a great time to be a beginner in the business. If I were contemplating doing so, I would do quite a bit of homework about a specific brokerage before going to work there. Obviously, you want to find one that is maintaining a decent level of sales.

Good luck with your plans.

 

[tashasdaddy]

Re: Anyone a Yacht Broker?

to be a proper marine broker, it takes a lot of boat construction, maintenance, and handling knowledge. i do a lot of pre-purchase inspections. i find most brokers and owners cannot adequately answer questions asked. some are worse than used car salesman. as in real estate 10% of the sales staff, makes 90% of the money.

 

[gcboat]

Re: Anyone a Yacht Broker?

Being in the industry for over 40 years I can say without hesitation that this is the absolutely the worse mess I've ever seen it in. Of course the early 70's and 80's weren't a cake walk either.
TD has pretty much hit the nail on the head concerning experience. It does all boil down to product knowledge ( and lots of it ).
As Jay mentioned you should try to stay with the "big boys". Sea Ray stands out as one. But you will be competing against a lot of seniority and the entry level salesperson hasn't got a snow balls chance in hell to get hired. I guess if you were selling multi million dollar units before you might get an interview.
If you are lucky enough to get your foot in the door at some company then be prepared to have at least two to three months savings that you can survive on.
Please don't read me wrong or become disheartened over your venture but right now you're not gonna' find much. But please don't give up - you just never know.

 

[tashasdaddy]

Re: Anyone a Yacht Broker?

i will come back and say this. SALES, is the hardest job out there. you have to have the product the people want. you have to have the personality, that people trust you, don't ever get caught in a lie, or stretching the truth. if you do not know the answer say so, and "i will get that info for you." do not try to BS your way thru it.

as a salesman, you and every other broker has the same thing to sell. but you have to sell yourself, to be successful. then word of mouth will support you. also after the sale, follow up is extremely important. keep in touch with your clients, one day they are either going to upgrade or downsize what they have. you need to be in their mind.

 

[jay_merrill]

Re: Anyone a Yacht Broker?

I agree with TD that there are certain aspects of brokerage yacht sales that resemble the real estate business. That is not to say that they are the same, but some things are handled much in the same way. I remember working with other brokers/salesmen when one of us had a serious buyer, but not the boat that they wanted. We had listings of each others boats and often sold stock that we were not in possession of. As in the real estate business, there was a well defined commission sharing arrangement for such deals.

One possibility that comes to mind for you, is to identify and submit resumes to sales executives (as opposed to salesmen), who are doing deals on "boats" ranging from multimillion dollar units to megayachts. Approach them from a standpoint of being an assistant, who can help them with the complex tasks involved in selling such boats. That strikes me as being a way to at least get a shot at your interest, without becoming competition to someone who is more experienced and can easily "edge you out."