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Anyone ever work for World Maritme Exchange?

8K views 18 replies 12 participants last post by  Rocky Mountain Breeze 
#1 ·
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?

Thanks
 
#2 ·
$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.

- CD
 
#3 · (Edited)
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.
 
#4 ·
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.
 
#5 ·
CP-

what is WMT??? I believe he's talking about this company.
 
#6 ·
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
 
#7 ·
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.
 
#8 ·
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
 
#9 ·
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!
 
#10 · (Edited)
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.
 
#11 ·
Tunes,

From what I can gather you are paying to be trained and then would be an independent broker working under the WME banner. May not be a bad deal for what your are getting in knowledge. Especially if the cost covers air and hotel stay. I am consultant and trainer in another field and training is expensive.

That being said most of what they teach can be found through research on your own. The question becomes whether you want to pay for having it already compiled in a comprehensive learning package and having someone to answer questions. Whats your time worth to you?

One last concern would be whether or not you had to sign any type of work or broker agreement and the language it contained.
 
#12 · (Edited)
Be aware that working for them as an independent contractor might not be completely legal. There are requirements for someone to be considered an independent contractor that they may or not be meeting. Hiring someone as an independent contractor is a way for less ethical companies to get out of paying many of the taxes and costs that are associated with having employees, like FICA, Social Security, Unemployment, and providing benefits like health insurance. It is good for them, since it pushes many of these on to you, effectively making you pay for things they would normally be responsible for.

If you're curious what the differences are, look at this website and this website.
 
#15 ·
WME weee!!!!!!

I know this is an old post, but I just came across WME. It's fabulously funny. The company owner claims to train by androgogy (sp). as opposed to pedagogy. ie. teach yourself or be taught by someone with knowledge.
So he promises to let you figure stuff out and pay him money for the privilege.
His listings are a riot!! 400 foot bulk carriers and such.
I'm not sure why Yachtworld allows such nonsense. Maybe they figure no one is stupid enough to actually believe this scoundrel.
 
#16 ·
I tried to contact them to purchase a vessel. They were the WORST Broker I have EVER worked with. I needed to reach a broker named Scott Jones. I emailed him several times and he didn't respond. I ended up having to call another broker to get him to return my email. After I gave him my specs he sent me a bunch of ships that didn't fit the specs. According to their site they had some that were perfect, but he sent me a bunch of newer more expensive ships. Then when I requested the info on the other ships he said he'd send it but never did!
 
#17 ·
I have worked with WME Yachts Ltd for over 13 years now, and have never had a complaint. When I was trained I had no idea how to operate as a Yacht Broker, and WME Yachts Ltd training gave me the skill necessary to operate my yacht brokerage, the owner stayed with me and was there for every negotiation I went through, helping me make decisions and with their help I was successful in each of my sales negotiations. Yacht Brokering is a different business than most. I own three other businesses and Yacht Brokering is nothing like them. I have a great deal of experience in sales but without WME Yachts training and guidance I would have spent more time, more money, and most likely lost several sales that I was successful with with the help of WME Yachts.
I have read through all the comments about WME Yachts on this site, and the one thing I seem to notice and it seems to be a common ground among these persons making these comments, they do not know business very well. Some of their comments appear to be emotional.
WME Yachts is not hiring salespeople, like other companies, they are placing people into business. Like me I had a great deal of sales training and experience, however I would never had made it without the training and support. The other thing is this is my business, not WME Yachts, I work with them, they give me an office, an international image, industry data, but I am the one who makes all the decisions for my success. If I wanted to leave them and start my own business I could have. Some have. I have chosen to stay with WME Yachts. It is expensive to operate a yacht brokerage. In addition the services they give you are expensive. So I am happy to let them to all the back office work, and let me work with my people. WME Yachts has given several people and brokers, I know, the opportunity to be very successful. Some tell me they were well into 6 figures in commissions.
Take this for what it is worth to you, getting into business for yourself is a good thing. Being in charge of your schedule, you clients, your income, is a good thing. WME Yachts lets me do all this, all they demand is that you treat your customers with good service, and respect. I work at my own schedule, I work how I want, and WME Yachts has shown me how to create an annual goal and an action plan to accomplish that plan. It works good. I hope some of the people who are taking shots at WME Yachts, have gone into the business of yacht brokering and have been successful. The one thing I can say is that I accepted the system that WME Yachts gave me, followed it and I have been successful. I know others who have decided not to follow WME Yachts system, and they struggled. Some quit. Maybe some of these people on this site are people that decided not to follow the WME yachts system.
I took the time to write this because WME Yachts has given me everything they said they would. They would not have an A+ rating with the BBB, if they did not give their brokers what they have in their contract with the broker. Good Luck.
 
#18 ·
DO NOT DO IT!!!!. I worked for them for over a year. They basically teach you to scan "For Sale" ads then call the people that are selling the boats and tell them you have a buyer. They offer you little to no help. Berney is a rude, salty sailor that needed a way to pay for a beach house in Ft. Lauderdale. They take your money and give you no help. So if you want to fund his beach house go ahead but if you want to be a yacht broker find a reputable outfit instead.
 
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