What to Expect from an Aircraft Broker?

As an aircraft buyer or seller, it is important that you have a full understanding of the role of an aircraft broker. An aircraft broker acts as an intermediary between aircraft buyers and sellers, making the process of buying or selling an aircraft as seamless as possible. In this blog post, we'll discuss what aircraft brokers do, including their day-to-day responsibilities, qualifications, and how they can help you save time and money.

What is an Aircraft Broker?

An aircraft broker is a professional who acts as an intermediary between an aircraft buyer and seller or vice versa. They can help you find the right aircraft or buyer and negotiate the best deal possible. A good broker will be transparent, knowledgeable, and impartial, and their job is to ensure that both parties are satisfied with the transaction's outcome.

An Overview of an Aircraft Broker's Responsibilities

An aircraft broker's overall responsibility is to help negotiate deals that benefit all parties. They do this by providing accurate and up-to-date information on the market (Using tools like JetNet, AMSTAT, and Vref), analyzing the condition of the aircraft, and handling the paperwork involved in the sales transaction. A broker's day-to-day tasks can vary depending on each client's specific needs but commonly include developing marketing materials, searching for aircraft to buy or sell, organizing inspections, and negotiating contracts.

Qualifications of an Aircraft Broker

To become an aircraft broker, one must know about the aviation industry, including aircraft types, regulations, maintenance, etc. The requirements for being a broker can vary from state to state, but you don't need an FAA license or certificate. For example, in Arizona, aircraft brokers must obtain a license from the state to operate an aircraft brokerage. In Florida, they must register their business with the Department of Revenue to collect tax. Additionally, becoming a member of IADA (International Aircraft Brokers Association), GLADA, or the NBAA can be extremely helpful in building a network and getting access to off-market aircraft.

Why Work with an Aircraft Broker?

Working with an aircraft broker can help you save both time and money in buying or selling aircraft. They have the experience to guide you through the process, from finding the right aircraft to drafting contracts and negotiating deals. Their knowledge of the market and the aircraft industry can save you significant time researching and vetting potential deals as they have access to a broad network of contacts and market intelligence. Additionally, brokers will have a strong understanding of aviation regulations and can help ensure all paperwork and regulations are met.

If you want to buy or sell an aircraft, working with an aircraft broker can help you make the right decisions and save valuable time. They can provide the necessary guidance and insight to make the transaction successful. Remember these tips when selecting an aircraft broker, and you will be well on the way to a trouble-free and prosperous transaction.