When it comes time to invest in your next private jet or sell your current one, you’re in for a big task. From searching to find the perfect jet and having it inspected to redesigning your interior and choosing a flight crew, your to-do list could get lengthy — and that’s not even considering the sales process for your current jet.
One thing you definitely can’t overlook is finding the right broker. Your broker of choice uses his or her industry expertise to help you find the perfect jet and sell your current jet at a fair price. Your broker can also help you save time during the sales and acquisition processes as well as help you own your next jet faster and easier. But how do you go about finding the right person to help?
Find the right broker
While broker reviews aren’t readily available on the internet like other services, you can start your search by talking to friends, family members, or colleagues. Don’t hesitate to ask for their brokers’ contact information. A pre-established level of trust from a personal recommendation can get you on your way to selling your jet for a fair price and owning your next one faster.
Just because you receive a great recommendation, however, doesn’t mean you should hire that broker immediately. While your friend or colleague may be that broker’s first reference, your investigation into your possible future broker isn’t over. You’ve also got to get references from the broker’s recent customers, learn how long the broker has been in the industry, and find out how many jets he or she has bought or sold among other track record checks on his or her history.
Not all brokers are created equal, so many buyers do better in their jet hunts when they’re partnered with a broker who has their best interests and personal style in mind. These “personality brokers” can move more quickly on purchases due to increased independence and tend to work best with those in the market for high-value jet purchases.
Agreements
When you find the perfect broker to help you along your way, lock the relationship down with a written agreement. Knowing where you stand and what role your broker will play — and for what price — is invaluable as you prepare to purchase. If you’re selling a jet, not only does this establish the business agreement but it also keeps different parties from marketing the same aircraft. This helps add credibility and trustworthiness potential buyers may be looking for. If you’re buying, the agreement shows your broker your good faith in his or her expertise and solidifies the relationship as well as your broker’s commitment to you and your aircraft.
With insights into the aircraft market, technical expertise, historical knowledge, and transactional skills, a broker can help you better determine your needs and get a fair price on your next jet or for your current jet. A personality broker, though, can also help match your personality and style to make your aircraft purchase meet your needs and budget even more closely, making that broker’s commission fee a little more worthwhile.
The expert jet brokers at L & L International are here to help you find the perfect jet. Selling your jet? We can assist with that, too! Contact the private aviation professionals online or at
+1 (305) 754-3313.
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Before you consider purchasing a new-to-you jet, it’s important to think about the best method of buying. Of course a flight before you buy and a careful pre-purchase inspection are critical steps, but if you’re working with an experienced and connected aircraft broker, you automatically get some important benefits that can make your aircraft purchase much easier and safer.
Industry knowledge
One of the most common mistakes buyers make in aircraft purchases is not considering the full range of options. You may have a good idea of the type of plane, number of seats, and which amenities and features you want, but when you work with a broker like one of the L & L International LTD experts, you get deep industry knowledge. That knowledge can make certain that you are exposed to all the options available, so you purchase an aircraft that hits all the right high notes.
Search and acquisition
Another critical reason to work with an aircraft broker is the fact that an expert in the field always has an ear to the ground — so to speak. A broker not only knows which types of aircraft are available or on the horizon but also has the connections to acquire the aircraft that fits your needs perfectly.
Valuation analysis
In addition to the overall condition of the aircraft, the primary factors that affect aircraft resale value include the following:
- Engine hours — If the engine is close to its next recommended overhaul, the value is lower. Equally important is a schedule of consistent use and a record of accurate maintenance.
- Damage history — If the aircraft has been damaged, its value is decreased, depending on the type of accident, level of damage, and which components were involved.
- Airworthiness — The airworthiness directives issued by the Federal Aviation Administration are facts of life for most aircraft and should be carefully scrutinized.
- Equipment — Installed avionics, deicing technology, and other extras can add value in some cases. In others, these extras can mask an older aircraft that may or may not suit your needs.
Having an expert to interpret terminology like “zero-time” engine, overhaul, and more can make a big difference in judging the real value of the aircraft.
Lender coordination
If you’re financing your aircraft purchase, your lender will have its own set of requirements. An experienced aircraft broker knows what those requirements are and stays on top of them without prodding or unnecessary reminders.
Paperwork handled
The forms for buying and selling aircraft are relatively extensive. The typical aircraft purchase will involve letters of intent, Aircraft Bill of Sale, purchase agreements, a U.S. Airworthiness Certificate, and more — and those are just a few. When all is said and done, having an aircraft reseller manage the paperwork is just plain useful.
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Working with an aircraft broker offers many advantages — you have a knowledgeable expert with your best interests in mind working at your side to assist you through the complicated and sometimes daunting process of procuring an aircraft. One of the greatest advantages of this partnership is access to off-market aircraft.
Before an aircraft is widely advertised for sale on the Internet, a broker may be notified of the upcoming plan to sell. How is this good news for buyers? A broker can give you access to these to-be-listed aircraft before they are publically announced.
In fact, a broker is often on the lookout for aircraft that interest his or her customers — and when an off-market jet that meets the customer’s needs comes onto the radar, a good broker can offer the lead to the customer before the listing is picked up by the masses.
With their extensive list of business and personal connections within the industry, brokers can connect you with sellers you would never come across simply through an Internet search or by browsing listings.
An offer you can’t refuse
Off-market aircraft are good news for buyers. Who wouldn’t want early access to the most recently listed aircraft? Off-market and unlisted planes increase buyers’ selection and offer competitive pricing. You also have the potential to work directly with the selling owner rather than another broker, perhaps garnering intimate knowledge about an aircraft’s past use and condition. This avenue saves you money and speeds the buying process.
Rather than taking on the search for an aircraft alone, enlist an experienced broker to help you. Jet experts, such as L & L International, are immersed in the industry and have access to more aircraft, both on and off the market, and can advise you during your search.
Contact L & L International if you need assistance in purchasing or selling a private jet.You can reach our sales specialists today at sales@L-Lint.com, call us any time at +1.305.754.3313, or visit us online.
