How yacht brokerage works: a plain guide for buyers and sellers

Most yachts above a certain size change hands through a broker. For a first-time buyer, that can feel like an extra layer between you and the boat. For a seller, it can feel like an expensive one. In practice, a good broker saves both sides time, money and mistakes, and a bad one costs them. The difference is easier to see once you understand how the system works.

This guide explains what a broker does for each side, how listings and commission are usually arranged, and how to choose and work with a broker you can trust.

What a broker does for a seller

A listing broker, sometimes called the seller's broker, represents the owner. Their work starts long before a buyer appears.

1. Pricing. They compare the yacht with recent sales and current listings of similar boats, and give an honest asking price. A good broker will tell you when your expectations are too high.
2. Preparation. They advise on what to fix, clean or document before the boat goes to market, and collect the paperwork: registration, VAT evidence, service records, refit history and class records where they apply.
3. Marketing. They produce the listing, photographs and specification, and put the yacht in front of other brokers and buyers.
4. Viewings and qualifying buyers. They show the boat, answer questions and filter out people who are not serious or cannot pay.
5. Negotiation and closing. They negotiate the offer, prepare the sale agreement, handle the survey and sea trial period, and manage the closing with the buyer's side.

What a broker does for a buyer

A buyer's broker, also called the selling broker, works with the buyer to find the right boat and get it on the right terms.

1. Defining the brief. Size, budget, range, cabins, crew, the waters you will cruise and how often you will use her.
2. Searching the whole market. A broker knows which boats are for sale, which are quietly open to offers and which have been on the market too long, and why.
3. Viewings. They arrange visits, often several boats in one trip, and tell you what to look at closely.
4. Offer and agreement. They advise on price, draft or review the purchase agreement, and make sure the deposit goes to a stakeholder or a broker's client account, never directly to the seller.
5. Survey to closing. They help you appoint an independent surveyor, interpret the report, negotiate any price adjustment and coordinate the closing documents.

Central listings and open listings

How a yacht is listed decides who you deal with.

Central listing (central agency). The seller appoints one broker exclusively, usually for an agreed period. That broker controls the listing and shares it with other brokers, who can bring buyers and split the commission. This is the normal arrangement for larger yachts, especially under the MYBA framework used by most Mediterranean superyacht brokers. For the seller, it means one point of contact, consistent pricing and a clear record of who introduced which buyer.

Open listing. The seller lets several brokers market the boat at the same time, and the broker who brings the buyer earns the commission. It is more common with smaller boats. It can give wider exposure, but it often leads to the same boat appearing at different prices, inconsistent information and disputes over who introduced the buyer.

For most sellers of a yacht of any real value, a central listing with a broker who actively cooperates with other brokers is the cleaner choice.

Buyer's broker and listing broker

On a typical sale there are two brokers: the listing broker for the seller and the selling broker for the buyer. They cooperate, and the commission is normally shared between them by agreement.

Sometimes one broker acts for both sides, for example when a buyer contacts the listing broker directly. This is common and not wrong in itself, but you should know about it. A broker paid by the seller cannot fully represent the buyer on price. If you are buying a yacht of significant value, it is usually worth having your own broker, whose job is to look after your interests.

How commission usually works

In most markets, the seller pays the commission out of the sale price, and the buyer does not pay their broker directly. The commission is then shared between the listing broker and the selling broker according to their agreement.

In the Mediterranean superyacht market, the widely cited norm is around 10% of the sale price, in line with MYBA practice. For smaller boats and in other markets, rates and structures vary: they may be lower, set as a fixed fee or depend on the price band. Always ask for the commission terms in writing before you sign a listing agreement, and read what happens if the boat sells to a buyer you found yourself, or after the agreement ends.

Some buyer's brokers also offer paid services, such as search mandates or project management of a refit. That is fine as long as it is agreed in writing and does not duplicate commission they already receive from the sale.

How to choose a broker

• Experience with your type and size of boat. A broker who sells 50 m motor yachts may not be the best choice for a 12 m sailboat, and the reverse is also true. Ask what they have sold in the last two years.
• Membership and regulation. Ask whether they belong to a recognised professional association and, where the law requires it, whether they hold a licence. Requirements differ by country, and in some places by region.
• Client account. Ask how deposits are held. A professional broker uses a separate client account or an independent escrow agent.
• Honesty about price. Be wary of the broker who promises the highest price to win your listing. An overpriced boat sits on the market and sells for less in the end.
• Communication. You want regular, written updates, prompt answers and feedback from every viewing.

Working well with your broker

Be clear about your budget, timeline and limits. Share the yacht's real history, including faults and past damage: hidden problems come out at survey and destroy deals late. Put important instructions in writing, and keep copies of every agreement.

As a buyer, tell your broker which boats you have already seen elsewhere, to avoid disputes over who introduced you. As a seller, respond quickly to offers and survey findings; deals lose momentum fast.

Red flags

• A broker who asks you to pay the deposit directly to the seller or to a personal account.
• Pressure to skip the survey or sea trial, or to sign before you have read the agreement.
• Vague answers about who they represent, or about how commission is shared.
• A listing with no clear ownership, VAT or registration documents.
• Prices that change between listings of the same boat without explanation.
• No written agreement at all.

Start your search

Browse yachts for sale or find a broker in the brokerage directory. If you are selling, you can list your boat on Yachtxchange yourself or through your broker. When you have a boat in mind, find an independent surveyor in our directory of marine surveyors.

This guide is general information, not legal or tax advice. Practice and regulation differ between countries; take advice from qualified professionals before you sign any agreement.