Anyone ever work for World Maritme Exchange? - SailNet Community
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post #1 of 17 Old 07-29-2008 Thread Starter
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Anyone ever work for World Maritme Exchange?

I am looking into a possible yacht sales position with them and would like some feedback to see if this a legit business offer. My reason is they charge a $2500 fee for what they describe as the cost to train you which also included flying to their location in Florida where they put you up at their cost. The $2500 obviously raises my speculation. Has anyone tried working for them and if so what is your opinion of them?

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post #2 of 17 Old 07-29-2008
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$2500 bucks to come train with them? I have never heard of something like that before. It may not be uncommon in some industries for people to be required to buy their own company-specific clothes... but the training is the responsibility of the company. Smells pretty fishy to me. Where is the commitment on their part for their employees? That is all part of hiring someone - investing in them.

Sounds insane to me.

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post #3 of 17 Old 07-29-2008
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Tunesmith-

No legitimate employer charges you for training IMHO. Training a new salesperson is part of the cost of doing business. If they're asking you to pay for your training, what is the likelihood that they are gong to do other shady things. Considering the costs of hiring a new employee, like setting up their health insurance, pension plans, etc.... the cost of training an employee is relatively small, especially if the training is necessary for them to function well in their position.

Run while you can.

Hopefully, you haven't given this company your information, like social security number yet. Posing as an employer is a pretty common scheme for identity thieves, since the information needed to apply for credit is often the same as what is given when applying for a job.

To give you an example, when I was hired to work in Washington, DC about twelve years ago, the company that hired me paid my moving expenses, put me up in a hotel for a month while I was looking for a house, hired a realtor to help me find a house, paid the points on my buying a house, and paid for my training.
As CD said, where is the company's commitment to you as their prospective employee. Why are they not investing in you.

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Last edited by sailingdog; 07-29-2008 at 06:24 PM.
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post #4 of 17 Old 07-29-2008
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WMT is a legit brokerage, but it seems to me they're supplimenting the income by offering "be a broker" courses.

In Florida, anything other than a "casual sale" of a tub ovewr some amount of feet has to be done by a licenced broker. I know there is a licencing procedure and some kind of test you have to pass, other than that, I think its a income producer for the brokerage.

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post #5 of 17 Old 07-29-2008
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CP-

what is WMT??? I believe he's talking about this company.

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post #6 of 17 Old 07-30-2008
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Their website leaves me with the impression that they train people to work in other companies/positions, i.e. they are professional trainers.

Perhaps the offer that is on the table for the OP is one of training and then offering the trained services into the industry, their client base.

Still sounds dodgy to me and I would look for a whole more info before parting with a couple of grand.

Andre
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post #7 of 17 Old 07-30-2008
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After looking at their website, it doesn't seem to me that they're really offering sales positions with their organization. As CP said, it looks like they're trying to supplement their income by offering training to people looking to become boat brokers.

However, that still doesn't change the fact that a legitimate job offer shouldn't require a four-figure payment of any sort. If it is a marketing ploy, it is a pretty slimy one, and I'd personally rather not do business with a company that would use such tactics.

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post #8 of 17 Old 07-30-2008 Thread Starter
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Thanks for all the responses. I has I said in my OP I also found it disturbing that I had to pay THEM. However, They do fly you to Florida for training and put you up in a hotel for several days. They do have a website (can't post the link because I do not have enough posts here) with many boats listed. I'm a very skeptical person and try to find out as much as I can about them. Checked Rip Off report and Scam websites and nothing comes up which does not mean they are legit.
They have sent me an email with other info which I will read an see what that has to say. If I have to send the check to a Nigerian Prince, I'm out lol.

Thanks again
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post #9 of 17 Old 07-30-2008
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Did you see this page?
World Maritime Exchange/WME Yachts Ltd. (Fort Lauderdale, FL)

Or this one?
World Maritime Exchange/WME Yachts Ltd. (Fort Lauderdale, FL)

This whole deal smells like an Amway structure with "master brokers" and "brokers" to me. At the very least, if I were you, I would call one of the brokers and ask them what they got for their money that was worth $2500 bucks and which simply going to work in a brokers office would not have gotten them.
The fact that no one here has ever heard of them as brokers or trainers may say something about their success rate but their listings are overwhelmingly power boats so perhaps that is why. Are you looking to become a power boat broker?
My guess is that it works this way. You pay to get trained. Then you become a certified WME broker. Then you find boats to list as an independent contractor. Then you pay a monthly fee to be able to use the WME yachtworld site to list your boats. Then when you sell a boat you send part of your commission to WME and the "master broker" also gets a cut. Let me know if you find out differently but ask all the questions before you put your $$ down!

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post #10 of 17 Old 07-30-2008 Thread Starter
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I have reviewed the docs they sent me. You work for them as an independent contractor. There is too much too list here and so I will try to find more info about them before I make any decesion.
I have to say they have links all over the net about boats for sale under their name. Just plug in World Maritime exchange in your browser and you 'll see what I mean.
I'll post back here if I learn more.

Last edited by tunesmith; 07-30-2008 at 10:13 AM.
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