Upcoming Recertification Opportunities
October 24, 2018
3 CPYB Recertification Credits
How the New Auction Platform from Boathouse Auctions Works and How it Assists Brokersview event details >
Not sure why you need to be a Certified Professional Yacht Broker? Consider this for a moment. Would you go to a physician who was not an MD or DO? How about a Dentist who was not a DDS or DMD? An accountant who was not a CPA? A nurse who was not an LPN or RN? A lawyer who was not a JD? A professor who was not a PhD? You get the picture; these are all professions where a demonstrated level of competence is required in order to practice. The CPYB designation is intended to show the public, others in the industry and your peers that you too are a professional in your chosen field and that you are committed to a continuing education program.
Take stock of your situation. Do you consider yacht brokerage and sales to be your career and not simply a job? How do you see yourself? How do others see you? If you desire to be viewed by others as among the best you should aspire to become a CPYB. You may not realize but others make decisions when doing a search based on whether or not you have those letters after your name. While it is not yet a requirement for those is sales and brokerage to have the CPYB credential the day may come where you will need it or something comparable in order to practice. However, if you take your profession seriously you will want to earn the CPYB designation now.
I recall when I was deciding to take the CPYB exam. At that stage in my career I had been a broker for decades and questioned if I needed it. It became apparent that by not having it I was missing out, both in the way others viewed me and in the way I viewed myself. I considered myself to be at the top of the business so why not prove it? When I studied for the exam I learned things that were new to me despite my long tenure as a broker. My base of knowledge grew and with it my own sense of accomplishment and pride. Once I passed the exam and got my CPYB designation I no longer had to feel any sense of inferiority against others in the brokerage fraternity who had achieved it. Customers and other brokers know they are dealing with someone who has demonstrated the commitment and has the background to represent them ethically and professionally.
Do not be afraid to take the exam. Study “The Guide” and if you have the requisite 3 or more years of experience you should be able to pass. The process will be beneficial and you will feel better about yourself and the career path you have chosen.
To apply for your CPYB credential click here.
Let’s explore the question of should you hold your client’s deposit? When should a good faith deposit (“deposit”) be made? Simultaneously with the offer on a yacht or when the Seller signs the Buyer’s Offer. Lastly, who is the best person to hold this deposit.
Maybe you’ve heard of or visited a website that uses a new .boats or .yachts domain name. Consider master.yachts for example, who transitioned to their new TLD name in 2017. Other companies have started to follow suit, including Sea Ray and Bass Pro Shop, who have purchased a combined 66 new .boats and .yachts domain names. What’s the story behind these names? Why are these new URLs something your business should consider?
An “As-Is” clause does not mean that a buyer assumes all risk, but you probably already know that. However, there are many situations that can leave a broker, well… broker! Sometimes it takes the form of a lawsuit, sometimes of bad publicity or a negative reputation, and sometimes a bit of both. After all, a broker’s responsibility is not really over just because the paperwork is done. In many states, proof of fraud, negligent misrepresentation, or unfair acts override the as-is clause putting the liability back on the broker despite a contract that suggests otherwise.