What You Need to Know About One of the Private Aviation Industry’s Most Reputable Roles
Buying an aircraft for sale isn’t a decision you’ve made lightly. A private jet not only comes with a big price tag, but when you own one, you’re on the hook for fixed and flexible operating costs every year, including maintenance plans, insurance policies, crew training, ramp fees, hangar fees, and more.
That’s why people don’t buy a jet on impulse, and they prefer to work with accredited aircraft dealers whom they can trust throughout the complex process. These accredited dealers know all about the private aviation market and will help you navigate your purchase, much like you’d rely on a real estate agent when buying a home. Here’s what you need to know about these key players in the industry.
Accredited Dealers Can Help You Shop for a Jet
A quick Google search can show you listings of private jets available for purchase, but that doesn’t mean all those listings are accurate and honest. When you find aircraft for sale through an accredited aircraft dealer, however, you can count on them to be transparent and trustworthy.
Accredited dealers also may know about jets coming soon to the market and can help you get a jump start on seeing them or purchasing them. This inside information means you could end up with a private jet that suits your business needs more quickly than you’d planned, which is a boon in today’s intense used aircraft market.
They Abide by a Code of Ethics
The International Aircraft Dealers Association (IADA) is the only group in the world to offer accreditation to aircraft dealers. To earn accreditation, aircraft dealers must vow to abide by a strict code of ethics set forth by IADA, plus meet other rigorous criteria.
The 14-point code of ethics they agree to follow guarantees they will always represent the best interest of their clients and conduct themselves professionally and honorably during every transaction.
Earning accreditation is prestigious in itself; only about 7 percent of all aircraft dealers have earned accreditation.
IADA Dealers Have Proven Experience in the Industry
Dealers who seek IADA accreditation already have immense experience in the private aviation industry. Before they can apply for accreditation, their current dealerships must have been in operation for at least five years, and they must meet sales experience requirements.
The sales experience requirements are based on a point system that considers all the aircraft the dealer has sold. The more aircraft sold and the higher the variety, the more points they can earn for their experience.
Three other IADA accredited aircraft dealers must attest to the applicant’s expertise through sponsorship references that describe the dealer’s professionalism, experience, and knowledge. Not only do candidates for accreditation need to prove themselves worthy, but other worthy aircraft dealers must support them, too.
Accredited Dealers Have Connections to Service Providers
Because IADA accredited dealers have so much experience, they’ve also networked and made professional connections with a number of private aviation service providers in all areas of the industry.
An accredited aircraft dealer can help their clients identify and contact service providers who also have demonstrated a history of professionalism and expertise. IADA also verifies and vets these service providers based on their capabilities and demonstrated history of customer satisfaction.
After all, when you buy a private jet, you want to know who to contact to purchase all your related plans, policies, and insurance so you can start flying after your closing date.
Your Dealer Can Never Be Influenced by Outside Forces
You’ve probably purchased real estate before, so you know that both the buyer’s agent and the seller’s agent get a portion of the commission upon closing. Sometimes that agent can be the very same person, which means they get the full commission in their pocket and are motivated financially to close the deal, even if it’s not in their clients’ best interests.
However, an accredited aircraft dealer cannot be influenced by money. That’s because these dealers can represent only one side of the transaction and can only receive commission from one party. The seller can never pay the buyer’s fees; the buyer can never pay the seller’s fees.
IADA Accredited Aircraft Dealers Can List Jets for Sale on AircraftExchange.com
Many aircraft listing websites do not vet the jets for sale hosted on the site. Sometimes, the listings appear to be for a plane, but are really about charter services. And sometimes, the listing is completely incorrect or fake to attract buyers’ attention and then collect their information for a sales scheme.
But one listing website only allows IADA accredited aircraft dealers to list aircraft for sale: AircraftExchange.com. This means that you can trust each listing to be accurate, honest, and complete, because they’ve all been vetted by trustworthy dealers!
When you’re ready to purchase a jet for your business use, your first contact should be an accredited aircraft dealer.
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