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How Do I Obtain A Yacht Brokers License In Rhode Island? (Best solution)

Do you need a license to be a yacht broker?

  • Certification isn’t mandatory, but the Yacht Brokers Association of America (YBAA) recommends that sales reps get certified. Not all states require yacht brokers to obtain licenses, but the states that do may also ask for proof of sales experience, specifically while working under a licensed broker. Some states also require background checks.

What states require a yacht broker license?

California and Florida are both the only states in America that require yacht brokers to be licensed, although the legal definition of a yacht varies between these states. To achieve licensing, you will need to hold any additional licenses required and pay a $10,000 bond to the state.

How do I become a yacht salesman?

A bachelor’s degree in marketing and sales can be beneficial. You can pursue certification through the Yacht Brokers Association of America, and some states require yacht brokers to obtain a license. Employers prefer candidates with prior sales experience and a background in the boating industry.

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Is there sales tax on boats in Rhode Island?

There is no sales tax on boats unless the boat was purchased prior to July 29, 1993. If sales tax is due, it must be paid to the RI Division of Taxation, One Capitol Hill, Providence, RI (401-574-8824) prior to registration.

How do I become a yacht broker in Florida?

In addition to the state fee, you’ll need a few other items. For example: You’ll need to provide fingerprints, a completed application, and a surety bond. However, the surety bond amounts aren’t the same. The Florida Yacht Salesmen License requires a $10,000 bond while the Yacht Broker License requires a $25,000 bond.

Is it hard to become a yacht broker?

For that reason, many people who love boats and know more than their fair share about them often entertain the idea of working in the marine business. Becoming a yacht broker is one prospect many find intriguing; here are some of the basic requirements.

How much does a yacht broker make?

Overall, with salary and commissions, as a yacht broker, you could make an average of $121,000 per year. This depends highly on location and type of yachts sold. Some yacht brokers even make closer to $300,000.00 per year. Yacht brokers should be sales motivated and thrive in an unconditional work environment.

How do I get a yacht brokers license?

To become eligible for certification, one must have at least three years’ in sales/yacht brokerage, history of using and maintaining legal contracts, required licenses, and proof of appropriate trust accounts. The certification process concludes with an exam that determines if one is fit to become a certified broker.

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How do I become a better yacht broker?

A great yacht broker should have their priorities straight. They should put what will really help their client, above their own needs. Passionate people have a genuine love for what they do. Yacht brokers are (or should be) very passionate about what they do and the industry they’re in.

Do boat salesmen make money?

The salaries of Boat Salesmen in the US range from $13,727 to $368,332, with a median salary of $66,226. The middle 57% of Boat Salesmen makes between $66,227 and $166,859, with the top 86% making $368,332.

Do you need a license to drive a boat in Rhode Island?

Do you need a Boating License in Rhode Island? Rhode Island law requires anyone born on or after January 1, 1986, operating a motorized vessel over 10 hp to pass a boater safety course and to carry a boater education card.

How do I register a boat trailer in RI?

You will need a bill of sale or gift letter, proof of previous ownership (old registration or the title, depending on the age and GVWR of the trailer), proof of insurance on the vehicle that will be towing the trailer, carrying capacity, length of the trailer, as well as a completed TR-1 form and sales tax form.

How do you become a yacht captain?

How to Become a Boat Captain

  1. Boating Experience: The first step in becoming the captain of any vessel is to gain experience — either on your own boat or as a crew member on someone else’s.
  2. Passing a USCG Exam: When working towards getting your captain’s license, you’ll need to pass a U.S. Coast Guard-approved exam.
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How do I become a yacht broker in Miami?

To apply for a yacht and ship broker or salesperson license, you must complete an application on DBPR FORM YS 6000-1, and submit it along with the $551 fee, a complete set of fingerprints, and an original surety bond or letter of credit in the amount of $10,000 for a salesperson or $25,000 for a broker.

How do I become a boat broker in Canada?

All persons engaged in the business of full time yacht brokers are highly encouraged to qualify and join the BCYBA. The applicant will be sent study material for the BCYBA entry level exam, Broker 101. Applicants must successfully complete this exam within three months of applying for BCYBA membership.

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