When it’s time to sell your aircraft, reaching out to and working with several agents means more promotional opportunities for your jet, which results in more prospects, and a faster sale — right?
Not necessarily. Although it may seem counterintuitive, listing your aircraft with multiple brokers doesn’t speed up the sales cycle, and in fact, there are potential risks involved in doing so.
Why less is more
The best brokers in the industry have the most experience and the most valuable contacts. They also rarely participate in multi-broker listings. It just doesn’t make sense to invest time and energy into a sale without the guarantee of a commission.
When you enter into an exclusive arrangement with a single, well-established broker, the agent then becomes committed to the sales process and will devote the marketing resources needed to ensure the aircraft finds a buyer quickly. A good agent has a reputation to maintain and relies heavily on repeat business and positive word-of-mouth in the close-knit aviation community.
Controlling the flow of information
Working with multiple brokers can also create overexposure for the aircraft, possibly diluting its perceived value in the market. In addition, when multiple brokers become involved in the sale of the aircraft, the information and details about the plane can become distorted or just plain inaccurate, creating uncertainty and confusion in the minds of interested buyers.
An individual broker will provide consistently reliable information to potential buyers, reducing the possibility for unanticipated concerns or objections that may rise late in the sales process.
An experienced broker also has well-grounded knowledge of current selling conditions, including product demand, available inventory and price fluctuations. This expertise translates into a deep understanding of the overall value of your aircraft that can be communicated to the market.
Seller beware
Because there are no industry regulations or licensing requirements for the sellers of aircraft, virtually anyone can establish himself as an agent. Because of this, it’s extremely important to review the broker’s website and ask for specifics about how the sale of your aircraft will be handled. Be sure to also request references and speak directly with the firm’s previous clients.
The right broker will have an established client base, a global marketing reach, and the experience necessary to ensure the sale of your pre-owned aircraft goes as quickly and smoothly as possible.