3.6.a. Fair respect for its co-broker requires a broker to recommend that a potential buyer enter into negotiations with the broker with whom negotiations have been initiated. A listing broker is not responsible for ensuring that a potential buyer enters into the transaction on the yacht with the broker who received the buyer`s offer first. 4.1.d. If the broker is not able to show the yacht, the broker may try to make deals with the shipyard to have it shown. The shipyard is then informed of the broker`s willingness to pay for the service and payment is made immediately for this service, whether the yacht is sold or not. Brokers have access to a database on YachtWorld that the general public does not have. When a boat is sold on the YachtWorld website, the data sold (how much the boat sells, for what condition it was, and the comments of a real estate agent) are entered into a database of sold boats that helps sellers assess why a specific brand and model of a boat is actually sold after negotiating the original price. In other words, a broker will have the best knowledge of how your boat should be paid at a price. Too often, yachts for-Sale-by-Owner (FSBO) are either over- or sub-expensive, because they simply don`t have the right insights on the market.
4.1.c. If you show the yacht, the broker registers at the court office and shows the boat, if possible, without assistance. If help is needed, the broker will arrange payment for any necessary costs. The yacht should be left as it was found. To learn more about yacht brokers and how brokerage works, read: Yacht Brokers s versus Boat Dealers: What`s the Difference? How do you sell a yacht broker to top brokers for Mega Yachts, Super Yachts, and Luxury Yachts Brokers: Find the Buyer Market The CPYB Designation: What does this mean? Finance of buying a yacht broker: commissions, trust accounts, taxes and plus A: Tests are not normal. Many people think that buying a yacht is like buying a car, which unfortunately is not the case (our job would be much more fun if we could take all the boats we drive for a test trip, that`s for sure!). Yacht shopping is more like real estate purchases. You can go with a real estate agent to see the goods, do not put down and dirty with the yacht until it is under contract. In real estate, you cannot measure a home and manage all its systems until you have ratified a contract.
A yacht deal works the same way. 1.8.e. If the same broker is found guilty of a second breach of the code of ethics, the broker and his investment service are suspended for one year from joining the YBAA, after which the reinstatement of the affiliation will be reviewed at the broker`s request. The suspension decision of the Professional Standards and Ethics Committee may be published in YBAA`s yacht brokerage newsletter and/or referred to the CPYB Certification Advisory Board. All such measures are required by the YBAA office to register. 2. Selling brokers should contact the broker listing or listing broker to register a potential buyer, preferably in writing, regarding the (s) ship of interest and schedule a date/time for the show. If the selling broker does not register the potential buyer, this may result in the loss of the commission and judgment against the selling broker if a dispute resolution claim is filed with the YBAA Professional Standards – Ethics Committee, the Certification Advisory Council or a dispute resolution authority for yacht broker associations.