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Aircraft Ownership Frequently Asked Questions
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Why do I need a aircraft broker to sell my plane?
Most aircraft owners think that the hardest part of selling their plane is placing the ad in Trade-A-Plane. That is actually the easiest part of selling an aircraft. Much work should be done before the ad is placed to insure that the sale is going to flow smoothly and generate quality leads at the market price. Over 90% of all aircraft sales involve an aircraft broker for several good reasons. Market research and knowledge are two important assets that a broker brings to the transaction. The first 5 prospects on your plane are usually the best 5 and how they are handled is very important. The buyers of today expect you to know a lot more than the performance numbers of your aircraft. They will ask questions about financing, insurance, and maintenance options just to name a few. It only makes sense to have a professional on board from the very beginning to maximize your results. After the prospect is identified how they are qualified and processed is important. The competition on your airplane is not the other planes on the market but the other plane's broker. As an individual representing your own plane you are competing against a professional. You might sell 1 or 2 planes in your flying career and the professional will sell hundreds. This is even more important than ever with the current buyer's market.
Why not choose a broker offering the lowest commission to sell my plane?
It is only natural to try to control costs. However, the focus should be on the broker who will net the most for your aircraft in the proper time frame. If an exclusive broker's rate is too low he will be forced to skimp on advertising and other services.
Worse, a few brokers will advertise aircraft they have signed up at unrealistically low commission rates to attract buyers they can direct to other aircraft they can sell at higher commission rates. The exclusive broker needs to be highly motivated to sell and deliver your aircraft.
Why should I consider a buyer's broker for my next aircraft purchase?
Buying a used aircraft correctly involves more than making an offer on the lowest price model on the internet or on the one with the lowest time engine. Many planes are bought that way and often the buyer doesn't end up with what he thought he was getting. As a buyer's broker I represent clients every day that understand the multitude of factors to consider and "due diligence" that must be done to not buy a plane at the "right price" but rather to buy the "right plane at the right price".
There is a big difference in the two. You are usually dealing with a professional on the selling end (see question one above) and you should be represented by someone looking out for your interests as well. In the buyer's market we are currently in, we are finding some of our best deals are with individual owner/sellers without professional assistance. These owners are trying to "save" themselves the broker's fee. Our clients have found that not only do we save them the hassle of doing something they are unfamiliar with but we typically save them money as well. Before you begin the acquisition process give us a call and we can go over what our "buyer's broker" acquisition program can do for you.
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