Advice on selling plane privately vs. using broker

ttvetdoc

ttvetdoc

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Russell
I may potentially be listing my Archer II over the next 6 months and would welcome any advice with regards to selling her. I will likely try to sell privately initially and see how things go through the regular sites, then list with a broker if I'm not having much luck. If I do end up using a broker, does anyone have recommendations on who to use?

I'm upgrading to a bigger plane and although I know some dealers will take trades, not all do, and selling my plane first will free me up to pull the trigger if the right plane comes around.

Appreciate any advice,

Russell
 
If you know much about aviation and the market and are local to where the plane is, private party all the way.

Otherwise a -GOOD- broker is a smart choice.
 
I like Neal Schwartz (Latitude Aviation) or Loan Mountain Aircraft.
The question is more about if you want the hassle, and if paying a broker is worth you avoiding the hassle of dealing with buyers.

Also, check if there are brokers who specialize in the Archer. That can help.

Tim

Sent from my LG-H631 using Tapatalk
 
Answering phone calls and talking planes is that much of a hassle?

Between 2-3k vs maybe talking to a few tire kickers, y'all are talking about things far to rich for my taste.
 
I probably took a 5K hit when I traded my airplane. It was worth every penny.
 
James331 said:
Answering phone calls and talking planes is that much of a hassle?

Between 2-3k vs maybe talking to a few tire kickers, y'all are talking about things far to rich for my taste.
Click to expand...

Depends on the model, when I was selling my Cirrus, before I went to the broker, I dealt with over a hundred calls in a couple of weeks.
After those headaches, and all the time wasted meeting people, I said screw it. I went to a broker, and never looked back.

Tim
 
I recently sold a Grumman Tiger through barnstormer's, no broker. It went fine; I talked to about 10 different people. Took about two months but I was out of town part of the time.

On brokers: I recommend vetting them (if you use one) very well. After selling the Tiger, I was shopping for the next airplane- I found a candidate (Vans RV7) about 200 miles away that I was very interested in. The broker for the airplane refused to allow me to see it without first: 1) agreeing on a purchase price, and 2) Depositing the purchase funds in an escrow account for the transaction. I argued with the guy, trying to explain that I was a very serious buyer but I was unwilling to jump through his hoops before even seeing the aircraft. The broker didn't care. He suggested that if I couldn't do the escrow thing, I was no more than a tire kicker. If I used a broker, I would want to confirm that he/she was available to show the aircraft as needed, or had an agent who could. I believe some brokers are trying to sell aircraft in many different locations, without leaving their offices, and are not prepared to actually go the aircraft for sale until the deal is nearly complete...
 
If you are one of the people who have a unrealistic value of their aircraft then a Broker may be able to get you real about setting a price. The time when fish swam buy in large numbers and all you had to do was throw a hook out is long gone. Now you have to bait the hook with a good price and something to attract the few buyers swimming by, good Brokers know how to do that.
 
paflyer said:
Ha ha , Freudian slip?
Click to expand...
Lol. Actually no. Stupid auto correct. Lone Mountain... They do a lot of Cirrus sales.

Tim

Sent from my LG-H631 using Tapatalk
 
ttvetdoc said:
I may potentially be listing my Archer II over the next 6 months and would welcome any advice with regards to selling her. I will likely try to sell privately initially and see how things go through the regular sites, then list with a broker if I'm not having much luck. If I do end up using a broker, does anyone have recommendations on who to use?

I'm upgrading to a bigger plane and although I know some dealers will take trades, not all do, and selling my plane first will free me up to pull the trigger if the right plane comes around.

Appreciate any advice,

Russell
Click to expand...
You'll get more money for your plane if you sell it yourself, but you'll be the one dealing with all the callers and having to weed out the real prospective buyers from the tire kickers. It really comes down to what it's worth to you.

Also, not all brokers are equal. Some are really good and others put very little effort into selling the planes. Do your research if you choose the broker route.

Any details you care to mention about the Archer? I might have a potential buyer looking at Archers/Cherokee 180s.
 
It depends on whether you want to screen the buyers. When I sold mine, I didn't mind, although some of the buyers played games. As a seller you have the right to inquire about where their money is and how they are going to deliver it. (I insist on wire transfer). So learn to ask. After its on the market, you will get realistic about the price. Good planes bring a premium though, and are worth it. Fewer repairs. What suprised me is how long it took to sell it. Almost a year. I never messed with contracts or escrow. Just make sure the plane doesnt have any undisclosed liens. Clear title is important. Also, you have to get some paperwork from the FAA. Brokers take care of all that.
 
Greg Hewitt, Southwind Aviation, Inc (239) 278-3113, was my seller's broker, but at times I felt like he was working for me. I've instructed my family to contact him if something happens to me and they have to sell Wingwing...:yes:
 
James331 said:
Answering phone calls and talking planes is that much of a hassle?

Between 2-3k vs maybe talking to a few tire kickers, y'all are talking about things far to rich for my taste.
Click to expand...
If you have a lot of free time, like being a pro pilot, no problem.
You work a 9-5 and are only free for a couple hours in the evening, it can suck.
 
I prefer the potential buyer to either EMail,or text their questions ,rather than spending hours on the phone.
 
I've considered a broker for selling only...I get annoyed with the volume of ridiculous phone calls and silly questions. When I sold my last plane, I considered blocking 2 guys that were the most annoying:
1 guy, had 0 pilot experience...I think he thought I was there for general flying advice at his beck and call...
Second guy, would offer me 50% my asking price, explain why he was broke, it was all he could afford, etc (yet he seemed to think my price was fair...I guess I was supposed to take pity on him and sell at a considerable loss), then I saw him posting pictures of my plane on his facebook page, telling his friends he was "in negotiations to buy it", and how the sale was going through any day...
I stopped answering calls from either one, and funny thing is, they never left voicemails, so I never called them back.
 
Some sellers enjoy talking to other pilots about their plane and they have time for it. Others just want the plane to disappear and receive a check. Brokers are perfect for the latter.

Comparing two brokers, as a buyer, I was impressed by Lone Mountain, and frustrated by Steele, when I wanted to view planes they were selling.
 
Appreciate all the advice. I may list privately and see how things go, then give Lone Mountain a call if I need a broker.
 
Fearless Tower said:
You'll get more money for your plane if you sell it yourself, but you'll be the one dealing with all the callers and having to weed out the real prospective buyers from the tire kickers. It really comes down to what it's worth to you.

Also, not all brokers are equal. Some are really good and others put very little effort into selling the planes. Do your research if you choose the broker route.

Any details you care to mention about the Archer? I might have a potential buyer looking at Archers/Cherokee 180s.
Click to expand...


'79 Archer II. TTAF 2759, SMOH 365.7 (Penn Yan in 2012), SPOH 365.7 (2012). Compressions high 70's. 430W, GDL-88 (ADS-B In/Out), single axis autopilot (Autocontrol IIIb), Garmin 340 audio panel, GTX 327 transponder, engine monitor, fuel totalizer, digital tach, Reiff pre-heater, Sky-tec starter, all LED lights exterior, all LED lights interior for panel, All Knots-2-U speed mods. New leather interior 2015. Has led a pampered life with the past number of owners. Always hangared. Many more upgrades but that is short version.
 
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