NAFA member Axiom Aviation, Inc. shares their process on selecting the right broker for your next aircraft transaction.
Aircraft purchase and sales transactions involve significant financial commitments and important decisions. Whether you are an experienced aircraft owner or a first-time buyer, it is crucial to have expert guidance as you prepare to buy or sell a jet.
In addition to involving sizable sums, these transactions can be highly complex. Failing to navigate the challenges skillfully and obtain the desired results can be both frustrating and costly, and those risks are much higher if you do not have the support of an experienced broker.
On the other hand, when you collaborate with the right team, an aircraft sales or purchase transaction is likely to go much more smoothly. But how do you find the best advisors? This article provides eight insights on choosing the right aircraft broker.
Why Every Aircraft Buyer and Seller Should Use a Broker
The recommendation that everyone seeking to buy or sell a private jet should use the services of an aircraft broker makes sense at a high level. But going a little deeper, what are the risks of not working with a broker?
One of the most obvious is overpaying or underselling. Determining the appropriate offer or asking price is challenging without the up-to-date market data a broker can access. You might easily find yourself paying too much as a buyer or receiving too little as a seller. That can be true based on the original offer or asking price and subsequent negotiations.
Another risk is failing to understand and address any legal or regulatory requirements. An aircraft sale or purchase involves a considerable amount of documents and regulations to consider. Any errors or omissions in dealing with that paperwork can lead to delays or financial penalties. They can even invalidate the sale.
Buying or selling aircraft without experienced assistance and, consequently, without access to a broker’s network and marketing channels can also mean missing suitable aircraft or potential buyers. Even if you find the right opportunity, you can still encounter hurdles related to the lack of pre-purchase inspection oversight from an experienced aircraft broker.
Then, of course, the time and energy commitment when buying or selling aircraft on your own is not a risk but rather a certainty. For these and other reasons, sales and purchase transactions are much more effective when you collaborate with an industry expert.
This article was originally published by Axiom Aviation, Inc. on January 30, 2025.