10- DEFINE THE MISSION: Just because you fly from Miami to LA twice a year doesn't mean you need to buy a plane for that mission. If most of your trips are regional or under 1000 miles you will save a lot of money by purchasing a plane that fits 90% of of your overall missions.
9- EVALUATE AIRCRAFT OPTIONS: Once the mission has been identified a broker can provide performance and cost analysis of several types/brands of aircraft to help determine which aircraft best suits your needs.
8- LOCATE THE BEST AIRCRAFT: You can look online at a few websites and find advertised aircraft that you can purchase, but knowledgeable brokers follow the market and often specialize in certain types of aircraft. Brokers work directly with owners as well as other brokers in order to find the best plane for your needs.
7- FIND OFF-MARKET AIRCRAFT: Unadvertised or "off-market" airplanes are where good brokers often can find the best deals. These airplanes are usually well cared for and may be available from an owner who is interested in another aircraft but hasn't put it on the market. Many deals are made this way.
6- ANALYZE AVAILABLE ALTERNATIVES: This is where the rubber meets the road and the broker earns his money by helping the buyer decide which airplane to pursue and in what order. There are many factors that must be considered besides price and times. By knowing the type of aircraft thoroughly the broker can advise the buyer and uncover known issues to the aircraft prior to making an offer.
5- PREPARE CONTRACTS: Like every industry there are items that are unique to purchasing an aircraft and need to be addressed in offers and contracts. A broker will handle all of the document preparation and can offer the services of a lawyer if you prefer.
4- HANDLE NEGOTIATIONS: Negotiations are usually best handled at arms length. Letting your broker handle the negotiations keeps emotions from interfering with getting the best deal available. While price is always important, there are many other terms that need to be included in negotiations that greatly effect the deal.
3- MONITOR THE PRE-PURCHASE INSPECTION: Most deals will include a Pre-Purchase inspection. This step can make or break any deal. Your broker should be included in all communications with the inspection shop and review all reports and help you understand and evaluate the reports as they can effect the contract guidelines.
2- COORDINATE THE CLOSING: Once the Pre-Purchase Inspection is successfully completed a closing is scheduled. Your broker will handle all of the details and coordinate getting the myriad of documents required to finalize the sale for you.
1- SAVE YOU MONEY: All of the above are important but what you really want the broker to do is to get you the best plane at the best deal possible. Eighty percent of all business aircraft sales are handled through a broker. The reason is their knowledge and experience helps buyers get the aircraft they want at a fair price and helps aircraft sellers get the most money for their airplane in the current market.