What do you need to be an aircraft broker?

Question

Are there any laws, FAA regs, licenses, or certification that I need to know about?

Answer 1

No laws, no faa regs, licenses or certification. In fact, most states require more regulation of used car salesmen. To be a successful aircraft broker, all you need is a lack of integrity and self respect. I should know, I am an aircraft broker at times. Though not very successful.

Answer 2

The most organized person I have ever known in my life was a retired Air Force general who had been a wing commander and a base commander.  He was a broker and specialized in turboprop business aircraft, though he could get you anything.

He didn't start with a huge amount of money, though he did have some expenditures: mostly communications, promotional activities, and travel.

You don't have to be able to fly every type of airplane.  In fact, you don't really have to be a pilot at all, though you would have credibility problems with the aviation community if you were not.

The main thing a broker does is put buyers and sellers in touch with each other.  A broker also provides buyers contacts and assistance in the financing and insurance segments, with hiring crew members, arranging maintenance and hangaring programs, and more.

Doing this successfully requires a certain flair, in addition to good business knowledge and lots and lots of contacts in the aviation industry.  That's the main thing.  You have to know everybody, and have a good reputation.

Beyond that, go to all the trade shows and air shows, buy lots of people lunches, talk a good line, and stay out of trouble.  It's demanding, and it requires lots of organization.

Good luck.

Answer 3

First you need money - lots of it.  Then you need to be able to demo the airplane, which means you need to be licenced to fly it.  Next, the aircraft owners need to trust you, so you need to be trustworthy with good references.  But money - lots of money - is the first step.