Central agency
A formal mandate by which a single broker is appointed by the seller to market the yacht. Other brokers can introduce buyers but only the central agent receives the listing-side commission.
Central agency agreements are time-bounded and exclusive. Sub-agency arrangements split the commission between the central agent and any introducing broker, typically at 50/50 on the seller side. The central agent's incentive is to clear the listing, which can produce pressure for price reductions on hulls that have been listed beyond six months.