4. If there is no prior co-brokerage agreement between brokers and brokers, a commission agreement and responsibilities outside of a courtesy submission should be established on that date of the first contact, if necessary. This commission agreement relates to any boat other than the Listing Broker presenting to the registered customer at the time of the presentation of the courtesy. While it is not clear that a registered customer is actually a buyer at the time of the creation of a commission contract, it is wise that the sale and the list of brokers establish responsibilities and compensation policies ahead of the De Courtesy Show. 2.5 In the event that more than one offer is made on a particular boat before the seller has accepted an offer, all additional offers submitted to the broker, whether by a potential buyer or another broker, are forwarded to the seller against his consideration. In the event that a broker, broker or central agent has received more than one offer before accepting an offer, all offers are submitted to the seller. The broker acts on the seller`s instruction to find out which offer is accepted and/or negotiated. When an offer is made after the seller has previously accepted an offer, the seller is informed of its existence. 1.1 The broker manages on a special bank account, separate from his own, or the resources or money of the brokerage company that belong to him for other people. When the broker makes trust funds or deposits, these funds are released and distributed quickly as soon as the terms of a contract or loyalty agreement are fulfilled or if the parties agree not to continue the purchase. Trust funds or deposit funds are used as inputs only when a sale is made or the broker/fiduciary agent has been mandated in writing by all parties to the original agreement. YBAA offers members standardized, copyrighted contract forms in both the U.S. and Canada, including: yacht purchase and sale contract, Central List Agreement, Open Listing Agreement and Acceptance of Yacht.
In case of proper use, the forms help clarify the terms and agreements between the seller/broker, the buyer/seller and the broker/broker. For co-op sales with other YBAA brokers, you know what to expect from the way the documents are signed. YBAA Forms is available free of charge to all members online and is updated every year. 3.6.b. A listing broker should not allow an interested party to pass the negotiations on to a member of the listing broker`s company, unless he or she is prepared to pay the broker who initiated the negations the full commission he/she would have received if that broker had completed the sale in a normal manner, or unless the brokers involved could settle others for both parties on satisfactory terms. 3.6.a. Fair respect for its co-broker requires a broker to recommend that a potential buyer enter into negotiations with the broker with whom negotiations have been initiated. A listing broker is not responsible for ensuring that a potential buyer enters into the transaction on the yacht with the broker who received the buyer`s offer first.