For the last 20 years our broker division provides consultation for the buying and selling of sailboats and motorboats whether preowned or new. We will customize a solution to the unique requirements of each client.
Our services include but are not limited to:
- Boat (sailing or motor) consultation
- Legal and administrative assistance before, during and after the sell
- Certified survey of any boat
- Change of the country of registration and flag
During the selling process, we offer discounted mooring and or dry docking fees
CODE OF ETHICS
In the event that a Broker, brokerage house or central agent has received more than one offer prior to acceptance of any offer, all offers should be presented to the Seller. The broker shall act on the instructions of the Seller as to which offer shall be accepted and/or negotiated.
If an offer is made after owner has previously accepted an offer, the owner should be made aware of its existence.
This outline is a recommendation for a fair procedure for Brokers to follow when several offers are presented at approximately the same time. The procedure for handling any multiple offer situation should be discussed with the boat’s owner. Ultimately, it is a Broker’s obligations to act as the owner desires and by whatever guidelines he decides. Whatever solution is decided by the owner, all those making offers should be apprised of it.
The Broker should cooperate with other Brokers on vessels listed by him on a Central Listing basis whenever it is in the interest of the client, sharing commissions on a previously agreed basis. Negotiations concerning vessels listed on a Central Listing basis should be carried on with the listing Broker, not with the owner, except with the consent of the listing Broker. In the event a Broker obtains a Central Listing, he will endeavor to distribute the listing to all his corresponding brokers as quickly and as reasonably as possible.
Central Listings and shared open listings are generally shared on a commission basis agreed to beforehand as a matter of policy, or agreed upon by the cooperating parties negotiated on a particular sale.
Should the central or loaning Broker show the boat or perform work above and beyond the customary providing of the listing and negotiating with the owner, the commission arrangements should be reconsidered by the parties involved.
The selling Broker is the Broker who obtains a Purchase and Sale Agreement signed by both buyer and seller along with accompanying deposit.
Deposits on brokerage transactions (in an amount acceptable to seller) are handled in accordance with the provisions of the Association’s Purchase and Sale Agreement.
(a) Each Broker shall select one member at large from YBAA; these two members shall together agree on one other member. These shall comprise the Binding Arbitration Committee for the dispute.
(b) Each Broker shall submit a written statement of the case to the members of the Binding Arbitration Committee.
(c) Each Broker shall then appear in person for a hearing before the Binding Arbitration Committee.
(d) The Binding Arbitration Committee shall render its decision which shall be binding on both parties. A written report of their decisions shall be sent to the Executive Board and the chairman of the Professional Standards & Ethics Committee, and to both parties.
1. When a listing is received by a Broker, the owner should be asked by the Broker to inform the yard that the Broker has permission to show the yacht.
2. Inform the owner that any agreement he may have with the yard regarding commission is his responsibility and will not affect the brokerage commission.
3. When showing the yacht, the Broker should check in at the yard office, show the boat without assistance unless it is essential, in which case the assistance should be paid for. The yacht should be left as it was found.
4. If the Broker is unable to show the yacht, it may be possible to make arrangements with the yard to have them show it. The yard should be advised of the Broker’s willingness to pay for the service and payment should be made promptly for such service, whether the yacht is sold or not.
5. The Broker should keep the yard informed with respect to a sale being negotiated.
6. If estimates or other services are required, the Broker or the client, as appropriate, should be prepared to pay for them and do so promptly.
In summary, the Broker should do his job, not ask the yard to do it. Necessary services should be paid promptly.