If you have been living under a rock for the past six months, it might come as a surprise to you that quality products and equipment are becoming harder and harder to access in 2021. The pre-owned aircraft markets are no exception to this current economic environment. Currently, pre-owned aircraft inventory levels are at a 25-year low and showing no signs of reversing course. Aircraft owners looking to sell might be tempted to sell their aircraft without professional representation. Why bother with a broker when this is a seller’s market? Mark my words, who and how you are represented in this market will make a difference in the aircraft owner’s bottom dollar.
For those of you who do not know me, let me be the first to tell you that I am not a medical doctor. As such, I have no plans of performing any surgical procedures on myself. It is true, I can google, “how to remove an appendix” and most likely find a detailed step-by-step process on the proper way to remove my appendix. So, why not? Because I am not trained! I am not a professional in medicine, and there is a good chance I may not survive. It is not what you know that is dangerous, it is what you do not know. Ignorance may be bliss to some people, but when it comes to your health and your wallet it can be catastrophic.
If a would-be aircraft seller thinks they are paying a broker to simply click a few links and take a few pics, they are not. Those sellers who hire a broker are paying for years, even decades of experience. They are paying for the relationships and trust that a good broker builds and fosters with every transaction. As important as experience is, the relationships that your broker has formed over time will pave a path for a successful listing and closing. It takes very little experience and no relationship building to put an aircraft on the internet and mark it “for sale.”
The good news: this aircraft might very well sell. The bad news: this transaction will likely be to the benefit of the buyer. Without proper representation, the seller will have no way of truly verifying if the price they were paid was accurate, the sales process was fair, and the closing was in their best interest. A dedicated professional broker is a small price to pay when listing an aircraft for sale, and not just anyone can do it.
When I compare some recent transactions that I was fortunate enough to close, there were two main contrasts. One transaction had another professional broker on the opposite side and the other transaction did not. I handled both transactions with the same professionalism as I always do, but I found myself being more of an organizer to the party that was not represented by a broker. On the other hand, the other transaction had a clear-cut line. The other broker was professional and courteous, but his loyalties laid with his client, as it should be. The individual who hires an aircraft broker is always in much better hands. Just like building successful relationships, building an aircraft transaction is an art and takes time, but the rewards are worth the cost and effort. From professional photography and marketing to in-depth aircraft knowledge and market experience, an aircraft transaction is complex. Selling an aircraft is one of the more valuable undertakings that some individuals will undergo. Playing internet roulette is not the most advisable course for a successful aircraft transaction. In the long run, it will end up costing more and gaining very little. Rome was not built in a day, and neither was an aircraft transaction.
Those who know Ryan know his longtime passion for planes. As a matter of fact, Ryan soloed his first aircraft before receiving his driver’s license at age 16. Today, he holds multiple jet type ratings (LRJET, CL604 and B737) and is responsible for aircraft sales, brokerage, acquisitions, market analysis, data research and special projects. Ryan puts client needs first, always respecting time and understanding the importance of investments. Outside the world of aviation, Ryan enjoys spending time with his wife and two children. He also enjoys heading out to the golf course as often as possible.
Excellence never happens by chance. It requires ongoing effort and intention. At Omni, continuous improvement is deeply embedded in our culture. We are always striving to set a higher standard.
