How to Become a Florida Yacht and Ship Salesperson or Broker

Which License Do I Need?

You must start as a salesperson. Salespersons are licensed to work under a broker and can facilitate the purchase, sale or exchange of yachts.

After two consecutive years as a salesperson, you may be eligible to become a broker. Although both can conduct the same sales activities, a broker license lets you hire other salespersons and brokers. It also indicates more experience in the industry, which builds your credibility.  

How Do I Renew My License?

Florida yacht salesperson and broker licenses expire every two years on the date printed on your license. The Division will mail you a renewal notice at least 60 days in advance. 

You can complete the renewal form by paper or online. The fee is $500. Be sure to renew your bond as well and include your surety bond continuation certificate. 

How Much Does It Cost to Become a Yacht Salesperson or Broker in Florida?

You can expect to pay at least $726 to get a yacht and ship salesperson license or $776 to get a broker license. This includes the following fees:

How do I become a yacht and ship broker in Florida?

After two consecutive years as a salesperson, you can apply to become a broker using the same application form. You’ll need to indicate if you plan to be an employing broker or work on your own. If you have employees, they must be licensed brokers or salespersons. 

When applying, you’ll need to submit proof of a $25,000 surety bond. You also must establish a trust account in a Florida financial institution. This protects all funds related to yacht and ship transactions. 

What qualifies as a yacht?

Under Florida state law, a yacht or ship is a water vessel that meets all of the following criteria:

• Propelled by sail or machinery 
• More than 32 feet in length
• Weighs less than 300 gross tons

If you plan to sell new yachts, they cannot have been titled or previously owned.

Can I have employees?

All salespersons must work under a licensed broker and cannot employ anyone themselves. 

Brokers who oversee salespersons or other brokers are considered employing brokers. You can only employ licensed salespersons and must keep each salesperson’s license until canceled or the salesperson leaves. In that case, you must return the salesperson’s license to the Division for cancellation.

Can I sell yachts in Florida if I’m licensed in another state?

No, you cannot sell yachts in Florida if you primarily work in another state or country. This means you can’t physically enter the state to conduct business. However, you can still legally do business with Florida buyers or sellers as long as the entire transaction is processed through a licensed Florida brokerage.

How do I update my license if I change brokerage companies?

To make any license updates, you’ll need to mail a Change Form and your license to the Division. You must submit changes within 30 days, or your license may be revoked. 

Name and address changes are free. If you are changing brokerages or becoming an employing broker, you’ll need to pay a $100 fee. However, if you submit within 60 days of expiration, you only have to pay the renewal fee.

After the changes are processed, you’ll receive a new license.

Do I need a license to sell my own yacht?

No, if you are selling your own yacht titled in your name, you don’t need a license. However, you’ll need a license if the yacht is titled in someone else’s name.

Can I open branch offices?

Yes, you don’t need a separate license for branch offices. However, you must disclose all locations to the Division on your license application. 

Is there a required prelicensing course?

No, prelicensing education is required. However, you must understand yacht valuation and state law. You can complete a reputable training program from providers like the Yacht Broker Institute and Blue Oceans Yachting.

What law regulates Florida yacht and ship salespersons?

Florida Statutes Title XXIV, Chapter 326 in the main law regulating yacht and ship salespersons and brokers. Under this code, the following acts are strictly prohibited:

• Facilitating a transaction without a license
• Combining client funds with personal funds
• Make false or misleading statements during a transaction
• Engaging in fraud or dishonest conduct
• Failing to file the required taxes and documents

Your surety bond will protect clients from financial loss if you violate these terms. However, you’ll need to reimburse the surety for any paid claims.