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Frequently Asked Questions on Becoming an Aircraft Broker

Commonly Asked Questions & Answers about becoming a Certified Puget Sound Commercial Aircraft Broker:

Q – How do I take the course to become a Certified Puget Sound Commercial Aircraft Broker?

A – We do all of our training online using GoToMeeting.com and PowerPoint presentations.

Q – How long does it take to start the training once I have filled out and emailed or faxed to you the Puget Sound Commercial Aircraft Brokers, Inc. Certified Area Broker Agreement?

A – Immediately, upon my receipt of the signed agreement and payment, you will receive a welcome emailed with a link  to download your “New Area Brokers Package” that will include all the resources such as our Puget Sound Commercial Aircraft Brokers Operational Manual and all of the contracts necessary to list, sell, manage, and set up buyer agent agreements.

Q – How long does it take to start listing and selling aircraft?

A – Within two weeks you will be trained to list and sell aircraft.

Q – How will aircraft owners know that I am doing business as a Certified Puget Sound Commercial Area Aircraft Brokers and am qualified to start selling and acting as their buyer agent?

A – (1) Within 24 to 48 hours you will be listed on PugetSoundCommercialAircraftBrokers.com as a Certified Puget Sound Commercial Area Aircraft Broker in your location; (2) A mailer will be sent to 500 jet, turbine and high-performance aircraft owners telling them you are now in the business of listing, selling and acting as a buyer agent for their aircraft; (3) Just as a new MLS (Multiple Listing Service) real estate broker effectively goes out and “hires” hundreds of fellow sales agents through their network, you will be trained to enlist FBO’s (Fixed Base Operators) as your referral agents. This allows you to place your signs and door decal at their location, making them a visible representative of your USA Aircraft sales operation.

Q – Are all the aircraft you have for sale on your web page exclusive listings?

A – Yes, those are exclusive listed aircraft with commission range from $5,000 on- up, listed by our Area Brokers.

Q – Can I start selling from the inventory, and do I receive a commission on another broker’s listing?

A – You can start selling from the inventory. The commission is split between you and the listing agent, just as two real estate agents do a split commission on a shared transaction.

Q – If someone wants me to help them purchase an aircraft that we do not have in our inventory, can I make a commission by finding the aircraft he is looking for?

A – Yes. As a Certified Puget Sound Commercial Aircraft Broker you will have access to our Dealer Network, which is similar to the MLS in the real estate business. If we do not have that particular aircraft in our inventory, we may be able to locate it though one of our affiliates with a built-in commission for us on the sale.

Q – Do we sell cooperative ownership in aircraft?

A – Yes. We have the ability to sell cooperative shares in any type of aircraft.  For information about on cooperative share program, call or email us.

Q – Can I list and sell aircraft outside of the United States?

A – Yes.  You can list and sell aircraft anywhere in the world. When you list or sell an aircraft from another area broker’s area, it’s a split commission between you and the other broker, just as in real estate.

Q – If there is another broker in my state is there room for me?

A – Yes. There are over 50,000 privately-owned aircraft in the US and over 2,500 FBO’s. Each Area Broker’s area covers 500 high-performance aircraft owners.

Q – How long will it take after I receive brokerage training for me to start listing and selling aircraft as a Certified Puget Sound Commercial Aircraft Broker?

A – Within two weeks of becoming a Certified Puget Sound Commercial Area Aircraft Broker, you can begin notifying 500 high-performance aircraft owners in your area by direct mail that you are now in the business of aircraft sales. The program is designed to put you in the aircraft sales business within a two-week period. You will also be represented on our website. Again we do your first 500 mailer to aircraft owners in your area.

Q – Do you feel that it would be wise (or unwise) for a new Certified Puget Sound Commercial Aircraft Broker to have a part-time or full-time job while they are building the brokerage?

A – The great thing about this program is that you can continue in whatever type of work or business you are presently in, and at the same time broker aircraft.

Q – How successful can I be as a Puget Sound Commercial Area Aircraft Brokers?

A – Same as with real estate, the more time and effort you spend actively brokering, the more successful you will become.

Q – How would you recommend a new broker spend his time in order to maximize the success of his brokerage business?

A – Make multiple calls each day to aircraft owners to list, sell, or manage their aircraft. Contact FBO’s each day to enlist them as your agents. This information is furnished in your Puget Sound Commercial Aircraft Broker, Inc. Operational Manual.

Q – Are Puget Sound Commercial Area Aircraft Brokers limited to brokering only those aircraft that are on the Puget Sound Commercial Aircraft multiple listing system and in their inventory?

A – Not necessarily; but we do attempt to get a listing from any seller whose aircraft we intend to present to a potential buyer.

Q – When an aircraft owner comes to a Puget Sound Commercial Aircraft Broker to list his aircraft for sale, is it mandatory that the broker list it on the Puget Sound Commercial Aircraft MLS system?

A – Yes, it is part of your monthly support service. His aircraft is automatically listed with over 1400 aircraft dealers and brokers who may already have a retail buyer for his plane through the MLS dealer network. This may get the aircraft sold more quickly.

Q – Do you feel that the one or two-day online training seminar is sufficient instruction for a new broker wanting to sell aircraft?

A – Yes, it is more than adequate for most individuals, and especially if you happen to have a background in sales and/or aviation. Also, you are entitled to 7-day support from 8am to 5pm CST. We will answer any questions you may have and walk you through any transaction.

Q – Don’t you feel the training should last longer, and be more “in-depth”?  Realistically, shouldn’t the training period be extended?

A – An extended training period would not be beneficial.  Since there is a continuous support network available, learning “on-the-job” is the best way to approach the business.

Q – With regard to application for a business license – based on your experience – would it be best for a new broker to organize as a sole proprietor, LLC, Corporation, or something else?

A – For many individuals the taxes are much lower for a sole proprietorship. Unless you have significant assets to protect, a Sub Chapter S Corporation can be expensive and cost more than the protection it offers. Check with your accountant. Puget Sound Commercial Aircraft Brokers, Inc. cannot advise you further in this matter.

Q – Is it necessary for me to operate my Puget Sound Commercial Aircraft brokerage operation from an office that is separate from my home?

A – No. One thing that makes this business exciting is that your office is where you are.  With a cell phone, notebook and our Puget Sound Commercial Aircraft internet database, you can list and sell from any location in the world, at any time of the day.

Q – Will I eventually need to hire employees?

A – It is not necessary to have employees. Your Operational Manual teaches you how to enlist independent contractors in much the same way the real estate business does, under your brokerage. You can use FBO’s  and  flight training schools as your independent sales associates. Broker agents will make money for you while working on a commission only basis.

Q – In addition to selling aircraft, do we also handle aircraft management?

A – Yes, it’s another product we offer the aircraft owner. One aspect of aircraft management is putting an owner’s aircraft to work on a FAR Part 135 charter agreement. This type of referral earns up to 4.5% commission for each hour flown. Contract forms and sales presentations are addressed in the Operational Manual and training seminar.

Q – Based on what you would consider “normal” sales volume, how is the aircraft brokerage market performing in the present economy?

A – Many high-performance aircraft owners have discovered that if they want to continue operating many types of business, their aircraft is a necessity, regardless of economic fluctuations. People who can afford to fly on a recreational basis are less likely to be seriously affected than the general population by economic downturns. Aircraft continue to increase in value.

Q – Do you believe that now is a good time to get involved in the aircraft brokering business?

A – Again, your motivation and work ethic is the key to success in any economy.

Q – How much time do I need to spend “prospecting” for customers when just getting started?

A – You are always prospecting. Each time you go into an FBO, talk to an aircraft owner. Visit the area flight schools. You now have the training to do a proper presentation and to select the appropriate contract for a transaction. Consistency and persistence are critical.

Q – How much time is necessary for “telemarketing?”

A – Virtually all your time is initially spent calling aircraft owners and FBO’s. You can make many more sales calls in one hour than you would by going to the airport to see only one person. Until some leads have been generated, only a few hours are spent doing person-to-person sales.

Q – Is it advantageous to use your own aircraft in your brokerage business to meet with clients?

A – Generally, no. In most cases weather conditions are too unpredictable to count on small aircraft for business meetings on a regular basis. Most business is done via telephone calls, e-mail, and fax.

Q – What types (or “makes”) of aircraft are the best to sell (reciprocating vs. turboprops vs. jets vs. helicopters)?

A – Of course, it makes sense to try to list and sell the more expensive aircraft.  Listing and sale of these planes often requires no more time commitment than with less expensive aircraft. However, profits can be made selling virtually any type of aircraft, so no opportunities should be ignored.

Q – How many aircraft does an established broker usually sell in a 12-month period?

A – To reiterate, this depends totally upon the amount of effort and the effectiveness of the individual broker.  Those who work the hardest get the most listings and make the most sales. You get out of the business what you put into it.

Q – What is the best thing about being an aircraft broker?

A – The independence, being your own boss, working in a business you love, and being limited only by your own initiative.

Q – Do I get Leads from Puget Sound Commercial Aircraft Broker, Inc. national advertising campaigns?

A – Yes. We are #1 on Google – as well as other major search engines – for the search “aircraft broker.” All leads that come in are passed on to the Area Broker closest to the aircraft owner. We also advertise in several national publications.

Q – What is the most important thing I can do to be successful in starting my aircraft brokerage?

A – “Listings, Listings, Listings.” Set up FBO’s as your agents. Work consistently.

Q – When and where is the two-day training?

A – Since the seminars are conducted remotely online from our headquarters, we can usually accommodate a schedule that is most convenient for you.

Q – Who can I call for a reference?

 

A – Call us.