Playbook
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IYBA, Co-Brokerage & Industry Standards
What IYBA membership means in practice, how co-brokerage splits work across the industry, and the standards every HSY broker is expected to uphold on shared deals.
The International Yacht Brokers Association sets the rules of the road. Understanding co-brokerage, the standard PSA, and ethical conduct is what separates a professional broker from someone who sells boats.
Co-brokerage basics
- Default split is 50/50 between the listing side and the selling side unless the listing agreement states otherwise.
- The listing broker's offered co-broke compensation must be disclosed up front — don't assume.
- Use the IYBA standard PSA on every deal unless legal directs otherwise.
- The closing agent (escrow) collects, holds, and disburses funds — never broker-to-broker.
Working a co-broke cleanly
Do
- Confirm the co-broke percentage in writing before submitting an offer.
- Cc the listing broker on every communication that touches their seller.
- Push your buyer's documentation (ID, KYC, proof of funds) to the listing broker promptly.
- Coordinate sea trial, survey, and closing logistics through one shared timeline.
Don't
- Don't go around the listing broker to the seller. Ever.
- Don't promise the seller anything on the listing broker's behalf.
- Don't share the buyer's identity until the offer is being written.
What IYBA membership gets you
- Access to the IYBA MLS — the primary listing distribution channel for the industry.
- Standardized, attorney-vetted PSA and addenda forms.
- Continuing education, ethics enforcement, and a recognized credential buyers trust.
- Industry events (the IYBA Yacht Sales Conference) where the next year of co-brokes get built.