How to Become an Aircraft Broker
In general, an aircraft broker is the one who arranges the transactions that occur between the buyer of the aircraft and the seller, who owns it.
Being the one who arranges such troublesome and meticulous transactions, the efforts of those in the field of aircraft brokerage is that they get a big commission every time that a deal has been executed or has taken place successfully between the seller and buyer.
Aircraft Broker Training
In order to become not only an aircraft broker but a “successful” aircraft broker, you need to undergo certain training. This is to prepare you for all the challenges that lie ahead of being in this industry. You will not have any problem when it comes to finding an aircraft broker training since there are several training agencies who offer such, this is especially true when you search for it in the internet. Searching for the right training agency is just a click away, you will just have to surf the internet and it will not even give you a sweat. The only problem is finding the good ones from the bad ones, in other words the scams. Thus, in order for you to select a reputable and trusting agency that offers aircraft broker training, you have to be meticulous with their history as well as background. Investigate first before you join them. Again, you can do this with the help of the internet. Also, ask some friends who may know about the agency you have chosen. But the most right thing to do is to have a visit first with the agency and ask for any legal documents that will prove of their good reputation.
Once you have searched all of these training agencies, you will notice that some readily give you their course outline. Most of these aircraft training agencies offer a course that will keep you busy for a whole day. This whole day training course will generally cover the basics of the aircraft broker. These basics normally includes fast moving, exciting, upbeat, as well as condensed fashion that will never bore you. Most of these training agencies will also presume that you have a background in aviation like those of a pilot or any other kind of profession that is related to business. The topics include an overview of the industry of the aviation sales, profit centers of the broker, ethics, as well as commissions, the step by step process, determining the aircraft specifications and values, ascertaining the needs of the clients, presenting budgets, and a lot more.
Aircraft Broker License
Once you have completed your trainings, it is important for you to get your aircraft broker license. This will however depend on whether your state requires for you to get one or not. In addition to this, the requirements of obtaining a broker’s license in this field vary from state to state. So you might want to do some researching on your state laws about the licensing system of the aircraft brokerage. Do not fret about this since you can easily find the information in the internet.
But most of these states have more or less the same requirements. For example, if you are from Oklahoma, you can find the state laws concerning on aircrafts licensing in subchapter two, chapter fifteen of the tax commission where it states that any dealer of aircrafts, whether it be an old or new one, must first obtain an aircraft dealer license. Another requirement for aircraft broker that most states look for an applicant is a separate license if you are going to set up another business at a different location aside from your main office. There is also an application as well as fee that must be and submitted. There are also a few states that require for the applicant to be a bona fide dealer as one of the qualifications to be an aircraft broker. All of these requirements as well as the qualifications must be met in order for an issuance or a renewal of the license.