7 Reasons Why You Need An Aircraft Broker When Buying Or Selling A Private Jet
While engaging an aircraft broker adds a cost to the transaction, the benefits they bring in terms of expertise, market intelligence, time savings, and risk mitigation often outweigh the associated fees. However, choosing a reputable and experienced broker is crucial to maximize these advantages. Duncan Aviation was founded as an aircraft brokerage organization, and the Aircraft Sales & Acquisition team has been working with jet and turboprop owners on the sale and acquisition of aviation assets for more than 65 years.
There are 7 main reasons why you’ll need a broker when buying or selling a private jet.
- Market Expertise: Aircraft brokers have in-depth knowledge of the pre-owned business jet market. A highly skilled brokerage team will be backed by an experienced technical team. They stay up-to-date on current market trends, aircraft values, equipment obsolescence, inspection programs, modifications, technical and performance specifications, and other relevant factors. This expertise allows them to provide valuable insights and guidance to clients, helping them make informed decisions in a complex marketplace.
- Industry Connections: Aircraft brokers have established relationships with various stakeholders in the aviation industry, including aircraft manufacturers, maintenance facilities, and legal experts. These connections can be beneficial when negotiating deals, arranging inspections, or navigating complex legal processes associated with aircraft transactions.
- Time Savings: Buying or selling a private jet involves numerous time-consuming tasks, such as model/mission analysis, market research, negotiations, transaction agreements, and pre-purchase evaluations. Aircraft brokers can streamline the process, saving clients significant time. They can handle administrative tasks and coordinate with different parties involved in the transaction.
- Access to Off-Market Aircraft: Aircraft brokers often have access to a network of off-market aircraft that may not be publicly listed. This can provide buyers with exclusive opportunities and options they might not find through other channels. Similarly, sellers may benefit from discreetly marketing their aircraft to a targeted audience. Sellers will also better understand pricing expectations when off-market aircraft data is factored in.
- Negotiation Skills: Skilled aircraft brokers are experienced negotiators. They can help clients secure the best possible transaction terms by leveraging their knowledge of market conditions, comparable sales, and the specific needs of the buyer or seller. Their negotiation skills can be particularly valuable in achieving a fair and favorable outcome.
- Legal and Regulatory Compliance: Aircraft transactions involve complex legal and regulatory requirements. Brokers are familiar with these intricacies and can guide clients through the necessary documentation and compliance processes. This helps ensure that the transaction is conducted according to applicable laws and regulations.
- Risk Mitigation: Purchasing or selling a private jet involves financial and operational risks. Brokers can assist in identifying and mitigating these risks by coordinating thorough due diligence, including aircraft technical inspections, title and pedigree research, market analysis, forward-looking maintenance budgets, flight department fleet analysis, and more. Their expertise can help clients make well-informed decisions that minimize potential risks and maximize return on investment.
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Business Jet Model/Market Summary