This option is a reasonable compromise between selling the aircraft yourself and selling it to a dealer. In most cases a quality broker can sell the airplane much faster than an owner. You and the broker have the same interest. The broker makes a commission when your aircraft is sold. The higher the price the higher the commission. A broker wants to sell your airplane as soon as possible because he doesn’t get paid until the aircraft is sold.
A quality broker is a marketing expert you trust to act in your best interest. He will report to you regularly. He is like a staff member that works on straight commission, without a salary, without benefits, and doesn’t mind that he will be laid off when the airplane sells. You have the benefit of years of experience working for you, experience you couldn’t hire in any other manner for so short a time period.
You could commit your airplane to a group or an individual only to see nothing get done. The broker ties up your valuable asset and then moves on to other business while waiting for someone to walk in and make an offer on an airplane you want sold.
Things could be worse. Some prospects for an airplane may have already had unsatisfactory dealings with a particular broker. The wrong broker can do some troublesome things like misrepresent the aircraft, improperly handle offers, or waste time and money on unnecessary demonstration flights.
A quality broker can be your best option for getting the most money for your airplane with the least amount of risk and trouble. Brokers, however, need to be examined carefully for competence. A broker who is also a dealer has the financial stability to take trade-ins and can offer some advantages over a company that only brokers aircraft. You should select a broker that has the reputation and experience buying and selling the kind of aircraft you will be selling. A broker cannot be all things to all people. If a broker has no experience with a particular model he will be learning on your airplane at your expense.