CYBA: More Options for Boat Buyersposted: 2/13/2014
In the “Ask a Maritime Attorney” column in the January 17 edition of The Log, Mr. Weill, in giving advice to a first-time boat buyer, suggested a good place to start is with a broker who is certified through the Certified Professional Yacht Broker (CPYB) program. Those who read his column may have come away with the impression that a non-CPYB certified broker in California might not be considered on the same level.
California is one of only two states in the U.S. (Florida is the other) that requires broker licensing and is the only state that requires the applicant to pass a comprehensive knowledge test as a condition to licensing. While we commend and support those brokers who choose to pursue CPYB certification, which fills a void in those states with no licensing requirement, there are many non-CPYB certified California-licensed brokers with the knowledge and experience to properly serve the boat buying public.
Many of these brokers are members of the California Yacht Brokers Association (CYBA) which was formed in 1975 to further the ethical and business practices of the industry. In the course of looking for a yacht broker to represent you in buying or selling a boat, we might also suggest you also check to see if the broker is a member of the CYBA. For your protection, its members are required to adhere to the strict CYBA Code of Ethics, governing their dealings with customers and other brokers.
You can learn more about CYBA and review the Code of Ethics by visiting our website at www.cyba.info.
Dennis Moran President, California Yacht Brokers Association