Buyer Representative

A broker hired to represent the buyer’s interest in acquiring an aircraft.

Seller Representative

A broker hired to market and sell an aircraft on behalf of the owner.

Consultant

An advisor who provides expertise in aircraft acquisition or sale but may not be directly involved in closing deals.

Hybrid Broker

A broker who may represent both buyers and sellers—sometimes in the same deal—with full disclosure.

Exclusive Mandate

A formal agreement giving one broker the sole right to sell or acquire an aircraft on a client’s behalf.

Off-Market Aircraft

Aircraft not publicly listed for sale—available only through private broker networks or direct relationships.

Commission

The percentage of a deal (usually 2–5%) paid to a broker upon successful transaction close.

Conflict of Interest

A situation where a broker’s loyalty to one client may compromise their duty to another.

Transparency

Clear, open communication about compensation, responsibilities, and potential conflicts.

Pre-Purchase Inspection (PPI)

A technical review of the aircraft, typically arranged during an acquisition process.

LOI (Letter of Intent)

A non-binding agreement outlining the basic terms of an aircraft sale or purchase.

Dual Representation

When a broker works with both buyer and seller in the same transaction.

Retainer

A pre-paid fee paid to a broker or consultant to begin working on a client’s behalf.

Mandate

Legal authority given by a client to act on their behalf in a transaction.

Broker of Record

The official agent assigned to a transaction—named in contracts and correspondence.