Airplane "buying agents"?

A

Artimas

Pre-takeoff checklist
Joined
Dec 10, 2013
Messages
214
Location
New Jersey
Display Name
Display name:
Artimas
Are there people you can hire to research, shop for, and assist in an airplane purchase? This would be helpful if the person is an expert who is familiar with the idiosyncrasies of a given airplane model and can help make a wise purchase.

Where would one find such a person? How much does a service like that cost?

Thanks.
 
Yeah there's brokers they usually charge a few percent of the sale price. Not sure how to pick a good one other than word of mouth.
 
Well saying what type airplane you're looking at would be a start.
 
Artimas said:
Are there people you can hire to research, shop for, and assist in an airplane purchase? This would be helpful if the person is an expert who is familiar with the idiosyncrasies of a given airplane model and can help make a wise purchase.

Where would one find such a person? How much does a service like that cost?

Thanks.
Click to expand...

Are you looking for C172, a TBM-900 or a Gulfstream 550?
 
I haven't decided on a model yet, but leaning TAA, maybe Cirrus or Columbia.
 
Artimas said:
I haven't decided on a model yet, but leaning TAA, maybe Cirrus or Columbia.
Click to expand...

Yes there are buyers agents and various consultants. Brokers will charge a percentage. Seems a conflict of interest, but it likely popular as it doesn't result in a cost unless an aircraft is purchased. I have always done it by the hour, though log time with a light hand. I pretty much stick to may areas of expertise which is not a Cirrus or a Columbia.
 
Kristen-

What is the typical range of percentage a broker would charge?
What is your area of expertise, if you don't mind me asking?

Thanks.
 
Artimas said:
Kristen-

What is the typical range of percentage a broker would charge?
What is your area of expertise, if you don't mind me asking?

Thanks.
Click to expand...

Pipers and I speak pretty good Bonanza. I am not sure what percentage a broker might charge to be a buyer's agent. The selling broker seems to charge between about 6-10% depending on the value of the aircraft.
 
Artimas said:
I haven't decided on a model yet, but leaning TAA, maybe Cirrus or Columbia.
Click to expand...

Well that's out of my wheel house, lots of folks who are into those on here, I'm sure someone can point you in the right direction
 
Last edited:
There is a broker in your area (a NY-based 121 pilot) named Neal Schwartz, and he has a stellar reputation. While I have no personal experience with Neal (wish I'd known him when I was shopping!), several people with whom I am acquainted speak of him with the highest praise.

http://www.controller.com/Dealers/Detail.aspx?CID=1261491&DTID=1
 
If a Cardinal or Cessna twin is on your short list of aircraft, Guy Maher in North Carolina is an excellent choice for a buyer rep. Info for him can be found at www.laniermedia.com
 
Normally brokers charge a little more percentage for lower priced aircraft, or pistons, and a little less for turboprops and turbines. I paid 8% for my broker to sell my Aerostar. I've heard jet/turboprop guys pay about 4-6% for above $500K planes. Above a million it probably drops even lower.
 
I looked into buyers agents last year, and used http://naaabuyersagent.com/ to find some local ones. For a full service SEL (182, Bonanza, etc) scope and find type deal, it was about $5000. This included figuring out what I really wanted, setting a price range, and the agent finding me 3 planes with my requirements. Then they would review the logs, call the owner, do all that investigative work for me. They wouldnt do the pre-buy, but pretty much everything else. Travel, of course, was additional.
 
Barron's back, under a different company name, sending out the same old "buy your plane" postcards.
 
Yes, there are buyer's agents. Fee structures and services vary. I help people buy piston twins since that's my area of expertise.

The specific level and type of assistance varies depending on the wants and needs of the buyer. Sometimes, people just want someone to help them look through potential options and know what questions to ask. Sometimes buyers want a "prebuy" with an opinion (which when I do one is basically a test flight, detailed walk-around, and functional check since I am not an A&P). Sometimes buyers want someone to fully vet out a list of potential aircraft and save them the hassle of sifting through Controller or the like. Plus, a lot of times someone who is connected within the community will know of airplanes before they hit the normal market listings. Often the best airplanes never hit the market, so that's where an insider can really help.

If you're looking at a Columbia, I do have a friend selling his very nice Columbia 400 with a G1000. I can put you in touch if you're interested. No fee for that, I don't help people buy Columbias as I don't know how to fly single-engine airplanes. ;)
 
You must log in or register to reply here.
Back
Top