12/19/2017

Yacht Broker Association Leaders (YBAL)

By Jeff Merrill, CPYB

There are seven yacht broker associations in North America. Each association is regional and independent.  We share many of the same objectives and concerns and there is a common desire for each group to stay current with the fast pace of our business.  Many years ago, Yacht Council was created to link the associations, but it dissolved (long story).  Since then, nothing has really unified the associations, except the CPYB program, which is supported and sponsored by all seven associations.

Back in 2015, as CYBA president, I reached out to each of the associations directly to propose a phone conference call so that the various presidents and executive directors could become better acquainted.  With the support of Vin Petrella, executive director of YBAA and founder of the CPYB program, we developed a roster and set up an agenda for the first call.  A second call was held in 2016. The group has become known as YBAL and though everyone is busy with their brokerage business and association duties, (and no one needs to belong to another committee!), the importance of staying connected is too great to overlook.  

The yacht broker associations really aren’t competitors, so it is natural to share across the board with the mutual goal being to grow each association, discuss relevant issues and collectively raise the profile of the yacht brokerage business.

In November, we held our third call enjoying full participation from all seven associations. We limited the call to one hour, ran over slightly and many other discussion topics for future calls were presented. 

The subjects covered ranged from an update by Vin Petrella about the CAC (governing board for the CPYB program) to disclosure in listings and purchase agreements, Mik Maguire CYBA president lead that section, to an update on deferred duty and Florida licensing led by Paul Flannery, president of IYBA.  J.P. Skov, president of YBAA, gave a report on the Boats Group Advisory committee (YachtWorld, Boats.com, BoatTrader).  The concept of a future yacht broker Hall of Fame was introduced.

Each year association leadership can change due to elections, but the importance of keeping this group of leaders together through continuity in communications have made this an important channel for each association to participate in.  For 2018, YBAL is scheduled to have a quarterly conference call.