The Yacht Designers & Surveyors Association is the professional body to which individual Yacht Brokers (as opposed to Brokerage Companies) belong. To become a member, it is necessary to show a record of continuous trading for a period of years, and to have gained an established reputation. It is also necessary to prove to a panel of existing members that you have sufficient experience to qualify.

Before acceptance an applicant must be proposed and seconded by existing members to whom he is known professionally. All applicants names are circulated to the entire membership for approval. It is a small industry in which most serious participants are known to each other, and any history of unsatisfactory trading is likely to come to light, and be fully investigated before acceptance for membership.

The vetting process is thorough. There is a category of membership for those who have not had sufficient time in the industry to qualify, but nobody is accepted for full membership until they comply with all the requirements, nor are they allowed to display the symbol of the Association.

This procedure is common to the election of Designer and Surveyor members of Y.B.D.S.A. as well, except that applicants have in addition, to submit samples of their work for scrutiny.

The Y.B.D.S.A. exists to promote standards of professional practice, expertise and integrity, providing the yachtsman with a body of qualified experts on whom to call.

WHAT DOES THE QUALIFIED BROKER DO?

Unlike the agent in other Brokerage industries, the Yacht Broker will see a transaction through from beginning to end - he is Photographer, Publicist, Printer, Negotiator, Conveyancer, Banker and often Translator, Taxi Driver and Private Detective.

ADVISE

When you consult a qualified Broker, you can be sure that his advice will be based on thorough knowledge, gained from extensive personal experience. He can help you identify boats suitable to your needs, give guidance on pricing, and on where and how best to offer boats for sale. If you are buying, he can cut out a lot of wasted effort - yours - looking at unsuitable craft and through his contacts can locate what you want.

PUBLICISE

In addition to his advertisements in the yachting press, the Broker will have a substantial mailing list of enquiries to whom he will send information on boats listed with him for sale. He will prepare accurate details, often taking photographs and drawing plans, taking inventory lists and making sure the fullest information is available. Through his contact with other Broker members of the Association, he will circulate information to the widest suitable public. The Yacht Broker usually makes no charge for these services, whether he sells the boat or not.

NEGOTIATE

The Broker will act as negotiator to arrive at mutually acceptable terms, which will be secured by a Contract fair and binding to both parties, and which precludes gazumping. He knows the pitfalls, the numerous factors that must be properly covered to avoid misunderstandings. The Broker can arrange trials, give guidance on the choice of qualified Surveyors, arrange slipping, advise on repair estimates, and negotiate revised terms when appropriate.

MONEY

Financial security is essential. The Broker acts as stakeholder, keeping clients money in a separate Clients Account for the purpose. He sees that both parties fulfill their sides of the contract, and ensures that payment is made in exchange for title. He will handle foreign currency transactions and exchange control, advise on overseas business and import/ export formalities, V.A.T. and duty. He can introduce buyers to the most advantageous sources of finance.

TITLE

One of the most important functions of the Broker is to ensure good title to the boats he sells. He will check Registration or other title documents, and make sure no financial encumberances exist. He will obtain properly documented title before payment is made. The Broker's detailed knowledge of the procedures is essential, particularly where boats are sold to or for foreign owners, companies, or where multiple ownerships are invloved.

SAFEGUARDS

Your first safeguard is the experience of the Y.B.D.S.A. member Broker, and the Code of Practice under which he is bound to operate. He is answerable to the Committee of his Association for any breaches of professional conduct. This is supported by Professional Indemnity insurance, which is a mandatory condition of Association membership. Finally if a dispute arises, that cannot be settled between the parties, Arbitration machinery exists through officers of the Association, that is impartial and objective.