1. Principals and managers should instruct their Brokers that the best course of action is for the Selling Broker to accompany the Buyer, when practical. Brokers should be considerate of other Brokers’ time when asking for courtesy showings. It is important that as much notice as possible be given in advance of a requested courtesy showing.
2020 YBAA University – 100 Year Anniversary Event Education, Information and Celebration to Advance Professionalism
Last year over 160 yacht sales professionals attended the one-day event in Annapolis on July 23 and Providence on July 25. Also in attendance were YBAA U Sponsors, Partners and CPYB Sponsors who provide generous financial support for the YBAA U’s and other YBAA programs such as CPYB.
The obvious numbers - The more people you talk to, the more business you will do. Even a blind pig finds corn. If you talk to enough people, you will eventually bump into someone who says, “I need what you have” or, “I know someone who needs what you have.”
The Certification Advisory Council (CAC), that oversees the Certified Professional Yacht Broker program and is supported by the seven (7) North American yacht brokers associations, is proud to present the 2019 Chairman's Award to Carmine Galati Sr., founder of Galati Yacht Sales.
"Boaters enjoy the in-water style of this show, offering a wide selection of power and sail boats. Attendees arrive from all over New England down to New York in excitement for the boating season ahead. The venue makes it easy to hop aboard and spend time chatting with knowledgeable brokers in a relaxed and fun environment," said Tom Pilkington, owner of Prestige Yacht Sales. "Last year’s change to CT Tax law lowered the state tax on boat purchases from 6.35% to 2.99%; this change has proved to show a growing interest in boat purchases and increased attendance at Connecticut boat shows,” said Pilkington.
George Sikich of Kensington Yachts recently earned his CPYB certification but has been in the industry for over 30 years! When he’s not selling yachts, he enjoys hanging out his local Yacht Club, reading and spending time with his wife and dogs. Find out his most memorable experience selling a yacht.
As we stand on the precipice of a new decade, with the struggles and lessons of the 2007 Financial Meltdown still fresh in our memories, what can we expect from Marine Lending in 2020 and beyond? What new products and service advances are on the horizon? And perhaps, just as importantly, what are we doing to avoid repeating some of the costly mistakes from the past?
YBAA is planning a special YBAA U program for 2020 to recognize and celebrate YBAA 100 Anniversary and the fact that YBAA is the oldest, continuous yacht broker association in the Universe.
The two-day Sail America Industry Conference (SAIC) is the place for Sailing Industry professionals to learn about new topics and trends, receive updates, and network with over 150 participants.
This is the most important question to ask first thing in the morning. Your answer should revolve around proactive activities to grow your business. Ideally that activity consists of lots of in-person calls at best, and phone calls at the very least. Cold e-mails are one of the worst, if not the worst, forms of initial communication unless accompanied by a phone call or in-person visit.
Last week, the U.S. Senate passed a spending measure called a “minibus” – a legislative package that contains multiple appropriations bills – which includes several of the recreational boating industry’s top funding priorities. NMMA outlined these measures in a letter to Congress earlier this year, calling the programs vital to promoting and protecting boating access and local economies that depend on the industry.
Get ready for great networking, valuable education and stimulating conversation - YBAA's 2020 University events are coming this summer
The yachting industry is abuzz amidst the January report that a South Florida jury issued a $70.6 Million verdict against Island Girl Ltd., a Marshall Islands company that owns the Motor Yacht Endless Summer. Although the circumstances surrounding the case are now widely known throughout the industry, in summary, a crew member onboard Endless Summer was raped by another crew member. The victim sued Island Girl Ltd. for negligence in failing to provide a safe working environment among several other things.
Hey Brokers…do you think you are acting as a “dual agent” in your transaction; meaning representing both the seller and buyer in a transaction? You may have heard of it before, but what should you know about it? The term “dual agency” might lead you to think about double commissions, something perhaps to be excited about. But if you aren’t aware of the pitfalls of dual agency, it might cost you all your commissions, or more.
Did you know that every state has a Boating Law Administrator, or BLA, that is responsible for helping to develop and shape public policy for recreational boating safety in that state? Collectively, these BLA’s form the National Association of Boating Law Administrators, or NASBLA which you may have heard of. The US Coast Guard is also an integral part of NASBLA and works with the BLA’s to ensure their state’s are following policies and guidelines, using boating grant money appropriately, and know and implement the latest boating safety regulations. NASBLA collectively gets together twice per year.
Owning a large asset, such as a vessel carries certain risks that all owners must navigate. Many boat owners have recognized the value in establishing a Delaware corporate entity to own their vessel, rather than owning it in their name personally. A properly established Delaware corporation or LLC can limit or eliminate your personal liability in the event of an accident or other litigation. Delaware courts have a reputation of reaching reasonable and fair conclusions when construing corporate laws.
FernHouse Embroidery and Design has partnered with CPYB to provide custom embroidered logo apparel and accesories.
All of us at Cruising World and Sailing World are pleased to offer our exclusive 2019 "State of the Sailing Industry" report to YBAA members with our compliments. We produce this annual snapshot of the sailing market as a service to the industry. Our 2019 report presents 2018 data on the charter market, brokerage sales, sailing participation, sailboat imports and domestic production.
The YBAA MLS is a strategic alignment between YATCO, an industry leader in online marketing, YBAA and also other regional Yacht Broker Associations. This relationship gives the ownership of data back to the brokers and provides yacht brokers large and small, a real choice of where to promote its listings online.
Connecticut spring in-water boat show to benefit sails up 4 cancer announces 2019 show dates.
Washington State approves Yacht Broker Institute (YBI) as an educational provider, prestigious CPYB designation attained by 3 YBI Graduates
Yacht brokers, don’t be afraid to recommend to your Buyer to finance their boat or yacht purchase, as it might work to your benefit. In this financial climate, Cash is King, and financing is a way to keep your buyer’s cash in their pocket and use low interest money to purchase a boat!
The single most important decision a Buyer must make before closing on a yacht is where the yacht will be registered, as the Buyer should understand the benefits and drawbacks of each registry before making this decision. Presently, the most well-known yacht registrations are United States, Marshall Islands, Cayman Islands, St. Vincent and the Grenadines and the British Virgin Islands.
As a new Congress takes the reins in Washington, D.C., your participation in the American Boating Congress is more important than ever. With a strong industry voice, we can and must educate new Members of Congress on the issues impacting your business, today and in the future.
A Mentoring Program for new CPYB applicants has been created to encourage not only a direct source for the applicant’s questions as they progress in their studies for the CPYB exam, but also to further engage the mentor through the process until the applicant passes the exam. Both the mentor and the applicant would each receive 5 CEU credits at the completion of the program and the applicant’s earning the CPYB designation exam within one year.