The unhelpful answer is that a yacht broker sells boats. By contrast, in Florida the job is defined by statute, carries a bond, and comes with a criminal penalty attached to one specific failure.
Most people never read that part, and it is the part that matters when something goes wrong.
So here is what does a yacht broker do, in the legal sense and in the practical one, with the citations attached and my own interest declared. I am a licensed yacht broker in Florida. So read the rest with that in mind, and hold me to whether it is accurate.
What the statute actually says
Chapter 326 of the Florida Statutes governs yacht and ship brokers. Its definition of a broker is broad on purpose.
A broker is “a person who, for or in expectation of compensation: sells, offers, or negotiates to sell; buys, offers, or negotiates to buy; solicits or obtains listings of; or negotiates the purchase, sale, or exchange of, yachts for other persons.”
Meanwhile a salesperson is somebody employed by a broker to perform any of those acts. There is no third category, and notably the word dealer is never defined in Chapter 326 at all.
What it takes to get licensed
Here is what Florida requires.
- Salesperson: a $10,000 surety bond, good moral character, no felony convictions, Florida residency or an in-state business presence, and fingerprints submitted within six months of application
- Broker: a $25,000 surety bond, plus you must first have been a licensed salesperson, plus either four completed yacht sale transactions or 20 division approved education credits
- The bond stays on deposit for one year after a licensee stops operating
First, there is no examination requirement in the statute. Second, there is no continuing education requirement in the statute. In other words, the bar to entry is a bond and a clean record.
The one rule that carries a felony
This is the part I would want a client to know.
Under Fla. Stat. 326.005(1), a broker must place transaction funds into a trust account at a Florida financial institution with a net worth over $5 million, and keep a separate record of all money received and its disposition.
Under 326.005(3), intentional violation is a third degree felony. The statute goes further, and states that failing to establish or fund the trust account is prima facie evidence of an intentional and purposeful violation.
Meanwhile Rule 61B-60.006 of the Florida Administrative Code adds the deadline. Funds go into the trust account within three working days of receipt, with no commingling. A salesperson who receives a deposit must turn it over to their broker immediately.
Section 326.005(2) also requires an itemised closing statement to both buyer and seller, showing the selling price and every charge and credit.
When I am the broker, your deposit is held in the Prestige Marine escrow account.
How to check somebody out
Florida publishes a license lookup through DBPR. It shows name, license type, address on file, current status and recorded disciplinary actions.
Status values are worth reading carefully. Current and Active is what you want. Inactive, Delinquent, Null and Void, Suspended, Revoked and Probation all mean something specific and none of them are good.
One limit to know. Open complaints are confidential until ten days after a probable cause panel determines a violation likely occurred, or until the licensee waives confidentiality.
So a clean record is not proof that nobody has complained. Instead it is proof that nothing has reached a public finding.
The bodies with letters after their name
Three come up, and they are not equivalent.
IYBA, the International Yacht Brokers Association, is the main Florida trade body.
YBAA, the Yacht Brokers Association of America, requires continuing education and a code of ethics.
CPYB, Certified Professional Yacht Broker, is an exam based credential run by YBAA.
The contract is where Florida practice actually lives
Prestige uses its own purchase agreement. Whatever form you sign, read the survey and repair terms before you sign, because those are what decide arguments after a survey.
Buying or selling and want somebody on your side
If you are about to buy or sell and have not talked to a broker about a specific boat yet, call me.
What the job actually looks like day to day
Stripped of the statute, this is the work.
On a listing: pricing against what comparable vessels have reported selling for rather than against asking prices, photography and a listing written properly, pushing it to the feeds brokers actually search, filtering enquiries, showing the boat at short notice and on weekends, running the offer and survey without the deal collapsing, holding the deposit in escrow, ordering the title and lien search, and managing the co-brokerage relationship with whoever brings the buyer.
On a purchase: finding boats that fit before they are listed where you would see them, arranging the survey and insisting on an engine surveyor, attending the sea trial, reading the findings honestly, renegotiating on them, and telling you to walk when the boat does not hold up.
If you are on the buying side, the diligence list is in my questions to ask before you buy.
Buyers frequently do not realize their side costs them nothing directly. Rather, the seller’s commission gets split under co-brokerage. I explained that in this piece.
Common questions
Do you need a license to sell yachts in Florida?
Yes, if you sell a yacht for someone else and get paid for it. Owners selling their own boat are exempt.
Which states license yacht brokers?
Florida and California. Most states have no licensing for yacht brokers at all.
How do I verify a Florida yacht broker?
Use the DBPR license lookup. It shows status, license number and recorded disciplinary actions. Still, bear in mind open complaints are confidential until a probable cause panel finding, so a clean record is not a full picture.
What is the difference between a broker and a salesperson?
A salesperson works under an employing broker and cannot independently hold client funds. By contrast, only a broker can operate a brokerage and maintain the trust account. The bonds differ too, at $10,000 and $25,000.
The short version
What does a yacht broker do reduces to two things when it counts. First, price the boat honestly against reported sales. Then get the deal from an accepted offer to a funded closing without anything falling through the gaps.
The license, the bond and the trust account rule exist because the second thing involves holding other people’s money. So that is worth verifying on whoever you work with, including me.
If you are about to buy or sell and have not talked to a broker about a specific boat yet, call me. I will tell you what I would do, even if the answer does not involve hiring me.
Frank Christopher, 954 504 8367.
Statutes, rules and fees current as of 10 September 2026. Not legal advice.
