That's a Wrap on YBAA University 2022
There goes another fantastic YBAA University! Thank you to everyone who attended including our sponsors, YBAA Board Members, as well as new and old YBAA Members and CPYB certified brokers.
Dual Agency: Profit Or Pitfall?
How do you negotiate a sale keeping the best interests of both parties in mind? How do you get the highest price for your seller while getting the best price for your buyer? Who does the law say the Broker represents if there is a conflict? These kinds of conflicts can lead to difficulties if either party feels impacted by your handling of the sale and these pitfalls are what we all want to avoid.
Why Your Sales Numbers Aren’t Good
No matter the industry or organization, they all seem to have a historically slow time of year, the summer and holidays are usually the biggest. In addition, changes in the economy, the market or industry, pandemics, and supply-chain issues can also lead to slow sales.
Change is Inevitable in Every Business Environment
Over the years I’ve experienced quite a bit of change in different industries. Some good, some bad, some driven by greed, and some driven by need.
Report: New Powerboat Sales Normalizing, Continue to Outpace Pre-Pandemic Levels
The NMMA reports new powerboat sales through Q1 2022 are showing signs of normalizing following two years of historic growth. In the first quarter, new powerboat retail sales totaled 54,000 units, down 20 percent compared to Q1 2021, while continuing to surpass pre-pandemic levels, up 20 percent from Q1 2019’s 45,000 units.
Gowrie Group Makes $50,000 Donation to US Sailing’s Siebel Sailors Program to Support Diversity & Inclusion in the Sport of Sailing
In support of our longtime partnership with US Sailing, the national governing body of the sport of sailing, Gowrie Group is proud to make a $50,000 donation to the Siebel Sailors Program.
Massachusetts Kids Boating & Fishing Week
The Massachusetts Marine Trades Association (MMTA) is happy to announce that “Massachusetts KIDS Boating & Fishing week” will take place from June 4 to 12, 2022. This important effort encourages and promotes youth boating and fishing events around the state.
Avoid the Summer, and other Sales Slumps
No matter the industry or organization, they all seem to have a historically slow time of year, the summer and holidays are usually the biggest. In addition, changes in the economy, the market or industry, pandemics, and supply-chain issues can also lead to slow sales.
Yacht Chart Market Outlook
With revenue from yacht charters enjoying Y-o-Y growth of 4.9%, the market is expected to be worth US$ 17.57 Bn in 2022. The global yacht charter market is anticipated to reach a valuation of US$ 28 Bn by 2031 progressing at a healthy CAGR of 5.3% (2022-2031).
Proper Handover of a Newly Sold Boat
As Yacht Consultants, we are not only selling boats, but we are also selling dreams. Many of our buyers have researched for years, traveled to many boat shows, and carefully studied all the various brands and options before deciding which boat to purchase.
How to Stand Out in Business and Sales
These days it’s extremely easy to stand out in business and sales. Work ethic, sales skills, follow-up, and attention to detail are all at historic lows in many sales forces. Here are some ideas that will help you stand out from all salespeople, even the best. Some of these are tips for standing out among other salespeople from a client perspective, others are tips for standing out from a peer perspective.
Over $23,000 Raised for Sails Up 4 Cancer at the 2022 CT Spring Boat Show
The 6th Connecticut Spring Boat Show helped to raise over $23,000.00 for Sails Up 4 Cancer over the course of the 3-day event held April 29 - May 1.
How to Hire
After people skills, these are the key character traits. These can’t be trained; people have them or they don’t. You have to look for these and test them in your hiring process.
No Time for Complacency
The marine industry globally has been on a strong run for nearly two years now. Many, if not most, new boat manufacturers are reporting record backlogs of sales; some stretching into 2024. In the US, nearly half of these new boat buyers are first-time boat buyers. Clearly good times for the boating industry!
Professional Development – The Real P.D.
Last month Eric Smith wrote a great article about mentorship, taking and giving advice, and the professional benefits of mentorship. I’m going to continue to explore this “professional” theme. This month we will dive into professional development.
Yacht Brokers Association of America to Host Annual YBAA University in Providence, Rhode Island
The Yacht Brokers Association of America (YBAA) will host its annual YBAA University (YBAA U) in Providence, Rhode Island Thursday, July 14, 2022.
Yacht Brokers Association of America Launches The Guide Online
On March 24, 2022, the Yacht Brokers Association of America (YBAA) launched its online version of The Guide—a reference and training tool for the professional practice of yacht brokerage and sales.
The Four Biggest Enemies of Sales Success and What to Do
Sales success simply boils down to talking to enough of the right people the right way. The right people are people who have a need or desire for what you have, they have the ability to make a decision on what you have, and they have the means to invest in what you have.
Pay It Forward
I started in the marine industry as a kid in 1990. By 2001 I was a full-time Yacht Broker. An older broker, Jerry, took me under his wing and mentored me – he was a true father figure.
State of the Industry | 2022 Discover Boating Miami International Boat Show
In case you missed the Industry Breakfast last week at the Discover Boating Miami International Boat Show, you can now view NMMA President Frank Hugelmeyer's state of the industry address, including NMMA's efforts to advocate and expand recreational boating.
Senator O’Connor Named Legislator of the Year by Massachusetts Marine Trades Association
Last week State Senator Patrick O’Connor (R-Weymouth) was named the Massachusetts Marine Trades Association (MMTA) Legislator of the Year.
The Massachusetts Marine Trades Association (MMTA) Hosts 16th annual Business of Boating (BOB) Conference
On Thursday January 20th the MMTA hosted their 16th annual BOB Conference at the Lakeview Pavilion in Foxboro, MA. The conference brought approximately 130 in-person attendees and another 70 + remote attendees.
The Massachusetts Marine Trades Association honored longtime industry leader Larry Russo, Sr.
The MMTA presented longtime industry leader and former owner of Russo Marine, Larry Russo Sr. the Frank Farrell Distinguished Service Award. After being acquired by MarineMax in 2016, Larry has remained with the company as the Senior Vice President of MarineMax Northeast.
5 Tips to Jump-Start Sales in 2022
t’s a new year and time to ramp up. Some agents completed their business plans months ago and are already focused on having a profitable year. However, it’s never too late to develop a plan to keep you on track.
Canadian Boat Builders Brace for Proposed Luxury Tax
The Canadian government’s proposed luxury tax on new boats valued at CA $250,000 – originally scheduled to take effect January 1, 2022 – is expected to be fully implemented in the weeks to come. A spokesperson for Canadian Finance Minister Chrystia Freeland confirmed recently that the government will release draft legislation to implement the tax in the coming weeks.
Not Available for Co-Brokerage
In the last two years the co-op type field selection of “not available for co-brokerage” is getting more than its fair share of use. We have all heard many different explanations as to why, but no matter the reason there are multiple legal and ethical issues that come into play.
Yacht Brokers Association of America Launches New Website and Member Listing Service
The Yacht Brokers Association of America (YBAA) recently launched a new and improved website, offering a more modern design and enhanced user experience. Upgraded features include clear call-to-action buttons, an easy-to-navigate menu structure, and direct access to view member resources.
Gary Smith, CPYB, Sarasota Yachts Presented the Vincent J. Petrella Chairman’s Award
On January 27, 2022, during the International Yacht Brokers Association’s (IYBA) 2022 Annual Dinner in Sunrise, Florida, the Certified Professional Yacht Broker (CPYB) program presented the 2021 Vincent J. Petrella Chairman’s Award to Gary Smith, CPYB, Sarasota Yachts.
What Opportunities Will 2022 Bring for the Boating Industry?
The boating industry boomed massively in 2021 as people looked for new hobbies and activities to explore the great outdoors after the turmoil of 2020. New boat sales hit a 13-year high of 318,550 units in 2020, which is staggering when you consider where the market was ten years ago – only 178,000 were sold that year.
How to Become a Yacht Broker
Although many of us dream of the day we can quit our jobs and go cruising, the balance in our retirement account may not allow for that just yet. For that reason, many people who love boats and know more than their fair share about them often entertain the idea of working in the marine business.
McCollough Yachts Has Completed its First Sale!
McCollough Yachts, a Brokerage, Design, and Engineering firm in Newport, RI, has completed its first sale. Concluding at S$4,800,000, McCollough Yachts Brokerage represented the Buyers in their purchase of FPB78 #3, formally known as IRON LADY II.
Why Prospects Ghost You and What to Do About It
As salespeople, we’ve all had the situation where a decision-maker told us they were interested, asked us to follow-up at another time, and now after several follow-up calls and e-mails, we can’t get ahold of them and can’t get them to return our calls.
Brewer Yacht Sales Opens Second Location in South Carolina
Brewer Yacht Sales is proud to announce the opening of its second South Carolina location at Charleston, inside Safe Harbor’s Charleston City Marina.
Massachusetts Marine Trades Association (MMTA) to host HYBRID Business of Boating (BOB) Conference
The Massachusetts Marine Trades Association (MMTA) is pleased to announce it will host the annual Business of Boating (BOB) conference in person on Thursday, January 20, 2022, at Lakeview Pavilion, Foxboro, MA.
A Message from YBAA Executive Director JP Skov
I just wanted to take a moment to say thank you for your continued support of our association. We’ve all enjoyed strong market demand for the last couple of years, and according to the experts, we will have another fruitful year in 2022.
Intrinsic Yacht & Ship Becomes Exclusive Area Dealer for Spot Zero
Intrinsic Yacht & Ship is pleased to announce they have partnered with Spot Zero to provide exclusive sales and services of their products in the region. Partnering with Spot Zero will allow Intrinsic the chance to provide top-level service to boat owners in Ocean City, Baltimore, Annapolis, and the surrounding areas.
Increase Sales by Getting Back to Basics
The greatest in any field of endeavor has always been great at the basics. Vince Lombardi, the great Green Bay Packers coach, said football comes down to two things: blocking on offense and tackling on defense, and his great Packer teams spent 80% of their time on those in practice.
Welcome, McCollough Yachts, LLC
McCollough Yachts is a custom Yacht Design, Engineering, and Brokerage Firm located in Newport, Rhode Island, USA. Our specialty is luxury performance yachts that utilize cutting-edge technology.
Marina Holdings LLC Makes the Inc. 5000 List of America’s Fastest-Growing Private Companies
NEW YORK, August 17, 2021 – Inc. magazine today revealed that Marina Holdings LLC, which is comprised of Yarmouth Boat Yard, Moose Landing Marina, and Freedom Boat Club of Maine, made their annual Inc. 5000 list of the nation’s fastest-growing private companies. This prestigious ranking represents a unique look at the most successful companies within the American economy’s most dynamic segment—its independent small businesses.
Boat-Building Icon Leon Slikkers Retires from Tiara Yachts, Capping Legendary 75-Year Career in the Marine Industry
In a career that began with building wooden runabouts, Slikkers pioneered sport, sail, and pleasure boats with a focus on innovation, engineering excellence, and unparalleled commitment to quality.
Massachusetts Marine Trades Association Workforce Solutions Amendment Passes in the 2022 State Budget
Last week Governor Baker signed the 2022 state budget, which included $150,000 in funding for workforce development and career technical education initiatives within the recreational boating industry.
