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Why You Should Work with an Accredited Aircraft Dealer

Private jets allow business executives to attend faraway, important meetings and events with short notice, as well as provide the right setting for continual work while airborne. Major companies maintain at least one, if not a fleet of mid-size jets or large jets to accommodate the ever-changing needs of the business, and to save considerable time as compared to flying commercially.

Wise companies looking to purchase a pre-owned aircraft seek out an aircraft dealer accredited by the International Aircraft Dealer Association (IADA), the only accrediting body of aircraft dealers worldwide. As we see it, there is no benefit to buying a plane without the help of an expert in the aviation industry, particularly in aircraft sales. In fact, an accredited aircraft dealer can protect you from much of the misinformation about planes for sale online, guide you through each step of the process, and ensure your purchase is completed satisfactorily.

What is an Accredited Aircraft Dealer?
Just as you might hesitate to purchase a yacht or a house from an independent seller — some call it “for sale by owner” — you also should hesitate to purchase an aircraft that way. Instead, you want to work with an industry insider for their professional advice and abundant knowledge of the big-ticket item you’re considering. An IADA Accredited Aircraft Dealer is precisely who you should contact when it’s time to buy a private aircraft.

An accredited aircraft dealer is one that meets all of the criteria set forth by IADA and possesses recommendations from other certified dealers and industry professionals. An IADA Accredited Aircraft Dealer agrees to abide by a 12-point code of ethics to ensure transparent and ethical sales practices. Of the 1,500 aircraft dealers worldwide, only 5% have vowed to adhere to ethical and best practices for aircraft sales and have earned IADA accreditation.

The term “aircraft dealer” can be a little confusing for some, because its definition does not align to the job titles in other industries — like real estate, for example. A real estate dealer buys and resells real estate to make a profit. Real estate agents work for a broker. However, in the aviation industry, an accredited dealer works for independent sellers and employs brokers to assist clients with sales and purchases. In the case of aviation, a dealer is more like a real estate broker, and the aircraft brokers are more like real estate agents.

Benefits of Working with an Accredited Aircraft Dealer
There are many benefits of working with an accredited aircraft dealer when you’re looking to purchase a business jet.

  1. Accredited aircraft dealers provide expert guidance at every step of the aircraft purchase process.
  2. Accredited aircraft dealers follow a robust code of ethics and practice transparency in all their business dealings.
  3. Accredited aircraft dealers cannot be influenced.

Let’s explore each in greater detail.

Accredited aircraft dealers provide expert guidance at every step of the aircraft purchase process.
IADA Accredited Aircraft Dealers are some of the most experienced in the aircraft sales industry. IADA requires dealers seeking accreditation to have professional expertise in the industry; their current dealerships must have been in business for at least five years, and they must meet sales experience requirements in addition. These requirements are based on a point system that takes into consideration all the aircraft a dealer has sold; the more aircraft and wider variety of aircraft sold, the higher the points they earn.

An important step in the accreditation application asks candidates for accreditation to submit sponsorship references from three other IADA Accredited Aircraft Dealers, testifying to their professionalism, knowledge, and experience.

Because of their extensive experience in private aviation, IADA Accredited Aircraft Dealers truly are experts in their fields.

Accredited aircraft dealers follow a robust code of ethics and practice transparency in all their business dealings.
Upon applying for accreditation, aircraft dealers must agree to meet the12-point code of ethics set forth by IADA and its Board of Directors. These ethical directives encompass all areas of aircraft sales. Highlights of the code of ethics IADA members promise that they will follow include:

  • Create and maintain a reputation for honesty, integrity, and transparency, and will adhere to the highest ethical standards throughout their business. Align with the highest standards in the business.

  • Work to constantly improve their services and operations as they provide a superior level of service, knowledge, and value to their customers.

  • Accurately represent their authority to show, demonstrate, and sell an aircraft.

  • Expeditiously submit any offers for the purchase of the aircraft to the seller and inform prospective purchasers of an accepted offer.

  • Not mislead the owner about the market value of the aircraft in an attempt to secure an exclusive listing.

  • Never accept commission from more than one party to a transaction without the full knowledge of the seller and buyer.

  • Be truthful and honest about the specifications of any aircraft for sale, including never exaggerating, misrepresenting, or concealing known facts relating to a sale or purchase.

  • Make full disclosure of all charges and costs associated with a purchase or sale.

Accredited dealers found to have violated this ethical code are stripped of their credentials. However, IADA Accredited Aircraft Dealers make clear their vow to uphold these values.

Accredited aircraft dealers cannot be influenced.
Unlike in real estate, where both the buyer’s agent and the seller’s agent — sometimes the very same person — receive a portion of the commission after facilitating a sale and purchase, an accredited aircraft dealer represents only one side and takes commissions from one party. The seller never pays the buyer’s fees, and vice versa, another key difference between purchasing aircraft and purchasing real estate.

Removing the money from the picture means there is no temptation to strike up a deal to receive additional financial benefits from the sale of a business jet.

Search AircraftExchange.comfor Your Next Aircraft Purchase
If you’re ready to work with an IADA Accredited Aircraft Dealer, start by browsing listings onAircraftExchange.com, the only source for aircraft listed by accredited dealers. Each aircraft listing is thoroughly vetted before posting to ensure accuracy of specifications and to confirm identification of the airplane.

Choose private flights in a business jet for the sanctity of privacy, plus convenient and efficient air travel — and AircraftExchange.com makes it easier to get started.

Posted on: July 14, 2020