With demand at an all-time high, selling a listing was more straightforward, especially as many sellers delayed large maintenance projects and internal refurbishments to capitalize on a dynamic market.

Now the market is returning to normal, it’s important that sellers understand the benefits of properly readying their aircraft for sale to maximize its value.

Previously, buyers were willing to invest in the business jet they wanted, even if it was due for maintenance or refurbishment. Today’s buyers expect aircraft to be well maintained and in the early part of their maintenance. Sellers should stay ahead of maintenance requirements to ensure their aircraft’s readiness for a buyer or be prepared to lower their price.

Once the aircraft is in a good, saleable condition, sellers should consider potential buyers in all locations, including outside their home country. Business aviation is a global market, and transactions regularly take place across borders. Partnering with a specialist like Jetcraft, who are connected to buyers around the world, and who know exactly where demand lies, will give you an edge when promoting your listing.

With the number of days on the market increasing, positioning your aircraft to the right audience is now even more important. Sellers should work with a trusted advisor with a strong pulse on the current industry landscape. At Jetcraft, our data-science led approach includes a high-level snapshot of the market, relevant data on the aircraft and a detailed value analysis. We also have a network of qualified buyers ready to make offers.

Finally, don’t underestimate the power of a digital listing ecosystem to reach your audience. Our customized 360-degree aircraft promotions produce the strongest, most targeted reach in the industry, using advertising, digital marketing, and emails to make your listing stand out to potential buyers. Bottom line: Jetcraft gets more eyes on your aircraft than anyone else.

With more than 60 years of experience buying and selling aircraft, we know how to build the most successful listings.

When the time comes to sell your business jet, what are some critical factors you need to consider before placing the aircraft on the market to ensure you maintain control of the transaction process, achieve a successful outcome and minimize your deal costs?

Many owners make the decision to sell their aircraft based on the expectation of a future event, whether that is a new aircraft coming on the market, the end of a lease, or the sale or expansion of their company. It is often found that the event driving the decision has a specific date for closing, and this is also the desired date for the sale of the current aircraft.

As a seller of a corporate aircraft, the benefits of properly preparing a sound game plan for putting your jet on the market comes down to appropriate long-term planning. Such a strategy should be cornerstoned by a well thought-out business plan, which strategically takes into account market conditions and your company’s growth. Most importantly, knowing the true value of your aircraft in today’s marketplace is an essential first step toward a successful sale.

Today, the business aviation market is showing signs of life since the financial crisis. Industry activity points to a healthier outlook for 2016 than initially predicted, fueled in large part by corporations and the HNWIs who continue to set their sights on acquiring one of the ultimate symbols of convenience.

No matter the overall economic climate, selling a business jet can be a daunting task. A good broker will be responsible for providing the crucial relationship management to bring both sides together in a transaction. Further, when you bring the aircraft to market well ahead of a desired delivery date, you gain some additional elements of control of the transaction. An experienced advisor will present the most cost-effective ideas and approach in order to help your aircraft attract the right buyer, at the right time and at the right price.

Even with a desired date chosen, not all owners effectively plan ahead. A significant portion of sellers wait until the last minute, only to find themselves behind the wave in a changing market, thereby losing value and opportunity.

For example, if financial deadlines are driving your desire to sell—such as a tax deadline requiring the divestiture in a certain fiscal quarter or year—in many cases it is highly advisable to put it on the market sooner rather than later as the transaction process will take several months to complete. Likewise, if you no longer have a useful need for the aircraft and it is left grounded in a hangar or parked on a tarmac, it also should be put up for sale as soon as possible. A sale at this juncture is justified as the operational overhead and maintenance costs no longer make it financially viable, and outweigh any long-term future potential business use.

Finally, remember that you are selling an asset and whatever notable emotional connections engraved in the plane’s history with you— that business-altering contract signing, or the unforgettable holiday in the South Pacific— is not shared by the potential buyer or the market conditions.

As the seller, the benefits of being well prepared for an aircraft sale with a well thought-out approach that takes into consideration current market conditions and allows time to complete a transaction will always yield the result you’ll be happiest with.

Credit: AvBuyer and Jet Tolbert were a source of content.