4 Reasons Why You Should Hire an Aircraft Broker When Buying or Selling a Private Jet
A roundtable discussion with the OGARAJETS leadership team.
1.Data and Knowing the Aviation Market
Johnny Foster: As more and more data becomes available, buyer and seller expectations increase exponentially. The once simple task of “knowing” the market has become incredibly complex. Established firms have become experts in data management—not just knowing where a good deal lies, but being able to assimilate global data and deliver accurate and timely guidance to their clients.
2. Leveraging Aviation Expertise
David Foster: For the same reasons one would hire an attorney or a CPA, hiring a professional representative in buying or selling an aircraft means that a particular expertise is being leveraged to one’s advantage. While most aircraft owners or pilots may go through a handful of transactions over many years, established brokers and dealers have hundreds of transactions as a base of experience.
John Foster: Ultimately, a broker must be able to demonstrate that whatever fees are being charged are more than offset by the advantages that result from the relationship. That can come in the form of better price negotiation, insight on where to locate the transaction, expertise at inspections and other key phases of the purchase.
3. Complicated Contracts and Financing
Matt Huff: Contracts are getting more complicated. Financing is more difficult to obtain. The process of buying or selling a jet is a big, complex capital investment. During a recent company meeting, we outlined the steps required to complete a successful transaction, noting the possibility for as many as 400 individual processes. Each one has the potential to turn into a time-consuming financial or legal problem without the expert guidance of a reputable broker.
4. Years of Experience and Successful Transactions
David Foster: Even more important, with so many options, a buyer needs a professional team’s guidance through the process. You can’t help but learn a thing or two after doing 1,000 transactions like we have. Completing the sale or acquisition in a timely manner within an informed framework and working to protect the client’s best interests is where an established broker adds tremendous value.
Johnny Foster: Now more than ever, the vast amount of readily available information can give buyers and sellers a false sense of knowledge. Sorting the objective from the biased data requires a lot of analysis that most people don’t have time for. We monitor the global market day in and out. With professional representation comes the knowledge to empower clients to make truly informed decisions.