What is Certified Professional Yacht Broker?
A Certified Professional Yacht Broker (CPYB) is recognized as achieving the highest accreditation available to sales professionals in the Marine Industry. The certification measures a person’s skill, ability, ethics, and performance as a Yacht Broker. Currently only 550 Yacht Sales Professionals have earned the CPYB designation, with several applicants preparing for the exam. You can recognize that someone has earned the CPYB status if you see them advertising this logo:
How was the CPYB Certification developed?
The certification was developed by a series of associations, which observe the standards of yacht brokers all across North America. Contributing associations include the Yacht Brokers Association of America (YBAA), International Yacht Brokers Association (IYBA), Northwest Yacht Brokers Association (NYBA), California Yacht Brokers Association (CYBA), Boating Ontario Dealers, Gulf Coast Yacht Brokers Association (GCYBA), and British Columbia Yacht Brokers Association (BCYBA).
How can you earn a CPYB Certification?
CPYB brokers must meet professional qualifications and successfully pass a three-hour examination, testing their skills and knowledge as yacht sales professionals.
Requirements (As listed on the official CPYB website):
All applicants must comply with the following eight requirements in order to be eligible to sit for the CPYB exam.
The applicant, and, where appropriate, the brokerage firm with whom the applicant is currently employed, meets or agrees to comply with the following:
- The applicant must provide proof that he/she has worked for at least three years during the past 10 years as a full time yacht broker and that he/she is currently employed as a full time yacht broker and has been for the past 1 year.
- The applicant has not been convicted of a felony offense or equivalent within the previous seven years.
- The brokerage firm/broker of record maintains a dedicated escrow/trust account that is utilized for all client funds in trust.
- The brokerage firm/applicant currently hold all necessary licenses required by all applicable governmental entities.
- All client payments are made payable to the brokerage firm/broker of record and not to individual brokers.
- All client transactions are supported by fully executed, contractually sound written agreements, affording protection to both the buyer and seller.
- All business conducted by the applicant complies in full with the CPYB Code of Ethics.
- The applicant has not been found in violation of any other yacht broker association's Code of Ethics (of which they are a member) within the previous seven years.
*A minimum of 3 years of engagement as a Yacht Sales Professional is required unless you are applying as an apprentice.*