7 Reasons Hiring an Aircraft Broker is Just Plain Smart

Wednesday, March 22, 2017

It may seem like an enjoyable task to talk to potential buyers about your plane, the truth is- getting a buyer from inquiry to close- is work. A lot of work.   Don’t be weighed down by the process; let someone who is ready to focus on you and your aircraft,  a professional broker, step up and exceed your expectations.

The best way to realize the most profit from the sale of your plane is to price it correctly in the very beginning. Start too high and qualified buyers will move on to other planes on the market. Start too low and you’ll leave money on the table.

An experienced broker, especially one who buys airplanes for their own inventory, understands the trends and nuances of the market. They go beyond what desktop appraisals like VREF can provide because they are personally invested in knowing what price a plane will move.

What is your time worth? On average, it takes 12 contacts with one qualified customer to guide them to a sale. And that doesn’t count weeding out the unqualified tire-kickers. Or the qualified buyers who thought they needed a plane like yours, but whose mission profile tells a different story. There is coordinating financing details, escrow agents, pre-purchase inspections, tax and FAA forms and insurance requirements. And we haven’t even discussed all the Sunday afternoons spent showing and demonstrating your aircraft only to have the buyer thank you for your time and never call again.  

An aircraft broker’s full-time job is to be available for both buyers and sellers. When you consider the value of what else you can do with your time, using a broker to leverage that time makes a lot of sense.

Some people believe that direct negotiation between buyers and sellers allows the parties to better look after their own best interests. But the truth is having a neutral party managing the transaction can keep the focus on moving forward with the sale instead of getting sidelined by emotionally-driven details. An aircraft transaction has at least two stages of negotiation: The initial offer and any amended terms post inspection.

An experienced aircraft broker will stand in the gap between both parties to move the transaction smoothly and equitably through each stage to a happy closing for everyone.

Working with the right aircraft broker allows to you step into an effective advertising machine that is already in motion.

A good broker will have a full-time marketing staff dedicated to making sure your plane is seen in all the right places from print/online journals to social media to direct mail. They have already invested time and money into the creative process, and the analytics needed to produce and measure great campaigns. They have also spent years building a trusted brand and an audience that has been waiting to be presented with an aircraft just like yours.

Many aircraft buyers are already aircraft owners ready to trade their existing plane for one that better meets their needs.

A broker who can take an aircraft on trade not only increases the number of buyers who are able to purchase your aircraft, it allows for a quick and simple transaction where the trade and the purchase happen simultaneously.

A well-written purchase agreement is possibly the most important part of an aircraft transaction. It protects both parties and can be the difference between a successful transaction and a painful experience.

Working with the right aircraft broker gives you access to an agreement that is concise, up to date, and regularly reviewed by legal counsel. A good broker will also “quarterback” your transaction through the time-consuming process of clearing titles, opening and closing escrow, transferring bills of sale and registration.
 

Working with the right broker ultimately allows sellers to realize more money from the sale of their airplane.

From starting with the right price to negotiating terms to leveraging your time, the right broker can tie all the loose ends together into a happy (and profitable) ending.

You made it to the finish line!  Your broker started you on the right foot, cleared the hurdles, and smoothed the way for your deal.  Don’t run the race alone- an experienced broker is here to make your sale easy and efficient.

 

Find the right broker.  Start the dialogue today.