September 13, 2024 • 18 mins
🎥 In today’s episode, Tom Lelyo, your Ultimate Jet Guide, answers your questions about becoming a Jet Broker and the future of the industry! ✈️
In this episode, we dive into your frequently asked questions:
✈️ How to become a jet broker (no license required!)
💰 How much money you can make as a broker?
🤖 Will AI replace jet brokers?
📈 Is the broker career field saturated?
📉 How do brokers fare in a 'down' market?
🤝 Join our FREE Private Online Community for aspiring Jet Brokers: https://circle.jetlifeaero.com
Being a Private Jet Broker is a life changing opportunity for those seeking a career in an industry that has low competition and extremely high commissions.
Let's book a call so you can discover how to get your FIRST SALE and start a new career in Aviation - https://www.theultimatejetguide.com
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
My third year, I made over $600,000, and that was, I
would argue, probably in one ofthe biggest aviation bubbles we
had seen.
It became a seller's market.
Hello and welcome to thechannel.
My name is Tom Lelio.
I'm your ultimate jet guide.
Today we're pulling back thecurtain on private aviation.
(00:23):
Whether you're a buyer or anaspiring broker, we help you buy
or sell private jets withoutwasting time, losing money and
with no experience necessary.
Today we're taking a look atsome of the FAQs that we get on
a regular basis for aspiringbrokers, so I'm very, very
excited to be sharing thesequestions with you.
If you have any questions, youcan go ahead and click on the
(00:47):
comments below and I will answeryour questions later on in the
video.
Good morning, hayden.
Always good to see you, myfriend.
All right.
So number one how do you get tobe a jet broker?
What does it take?
What do you have to do tobecome a private jet broker?
So becoming a private jetbroker is really interesting,
because there's no license orcertification to be a private
(01:09):
jet broker.
One of the best parts aboutbeing a private jet broker.
One of the worst parts aboutbecoming a private jet broker is
there's no license orcertification needed to become a
private jet broker.
And what I mean by that is,sometimes you just don't know
what you don't know right?
If you want to be a real estateagent, you go take a real
estate course.
If you want to be a doctor, yougo to med school.
(01:30):
You want to be a lawyer, you goto law school.
When it comes to being a broker,I guess there's a few ways to
figure it out.
Number one you can join abrokerage and they'll teach you
how to become a jet broker andthey'll show you how to do
market research, how to talk tohigh net worth individuals, how
to navigate a deal, all thepaperwork, all the documents
(01:50):
that you need.
But at the same time, nowyou're stuck with a brokerage.
Whether you like them, don'tlike them, you might be capped
at your commission.
You might have to movesomewhere to be a part of that
brokerage.
You might not be able to getinto a brokerage because there's
none around you or there's nonehiring.
So you might be out of luck ifyou just want to become one,
(02:11):
because no one's going to letyou into the brokerage.
Another way to become a brokeris just your circles that you
travel in.
Maybe you were born into abroker family, or maybe you're
born into an aviation family orsurrounded by aviation.
Maybe you're a mechanic, maybeyou're a pilot, and so you just
kind of see deals get done fromtime to time and you're just
kind of used to it by now.
(02:31):
And so you pick up littlethings and you're just like,
well, I could find a jet, well,I could sell a jet for you, and
you just kind of figure it outas you go along, but you're
still just kind of stumbling,you know, on your own.
Or maybe you're someone has noaviation experience whatsoever
and you just don't even knowwhere to get started.
Again, there's no license orcertification to become a broker
(02:51):
, but there are resources.
So I want to shout out my buddy, alex at the aircraft broker
Academy.
Uh, he's got a fantastic onlinecourse that you can take.
It's like a hundred videos.
I mean this is a great coursefor people that want to become a
broker and do it on their own,because he goes through setting
up your business, setting upyour marketing, it's all that
kind of stuff.
(03:12):
But I know some people don'twant to start their own
brokerage and start from scratchwhen you have no idea.
You've never done this beforeand some people just want to
learn how to do it.
But within the context of acommunity and maybe within the
context of a remote-basedbrokerage, and that's where
JetLife Arrow comes in.
We can train you how to be abroker, but also it gives you an
opportunity to work with us asa broker.
(03:35):
So that's one way, another waythat you can do it.
So becoming a broker, there's alot of different ways to do it.
But if you have no aviationbackground whatsoever, I
recommend that you go to theultimatejetguidecom and schedule
a call with me and I'd be happyto give you some more
background on that.
Let's take a look at frequentlyasked question number two how
(03:57):
much money can you make as aprivate jet broker?
Now I'm going to preface this alittle bit by saying you know
it depends, and I hate thatanswer.
Anytime I ask somebody thatquestion, like how much can I,
how much is this, how much isthat, or what do we do, and they
say it depends.
And the reason it depends isbecause it depends how hard
you're willing to work.
And so my first year as a jetbroker, I had no aviation
(04:21):
background whatsoever.
I came into it as a music schoolmarketing manager, sales and
marketing manager, and prior tothat I was a youth minister for
10 years.
The only aviation background Ihad was watching the original
Top Gun, and so all I knew wasthat I had to make this work.
I knew I was in sales, I knew Iwas going to be on commission.
I had a little bit of a drawwhen I first started out a
(04:43):
couple hundred bucks a week.
But I knew if I was going to besuccessful at this I had to
push, and so I really leanedinto Grant Cardone's 10X rule.
His 10X rule says if it's goingto take you 100 calls a day to
be successful, you should beshooting for 10X 1,000 calls a
day.
Now, I never called more than120 or so people in a given day.
(05:04):
But my attitude, my hustle, myjob I didn't go to lunch.
Everybody else went to lunch, Istayed in and I just kept
making phone calls.
I didn't spend a lot of timeresearching people.
You know who I was calling.
I didn't Google them and findout what their business was and
found out that they sold, youknow farming equipment and then
try to make a phone call andtell them about farming
(05:25):
equipment or actually I'dprobably have to Google like
what half the farm equipment wasand then make the phone call
and that would take up 10minutes.
No, no, no.
I picked up the phone.
There was a phone number there,I was going to call it and I, I
.
So there's the hustle.
And so my first year, to kind ofget to the point how much I can
make, I sold 20 jets and I madeover a hundred thousand dollars
in my first year.
There's a lot of hustle, a lotof.
(05:47):
I was the first one in theoffice.
I was the last one leavingbecause I knew I just I wouldn't
leave the office until I hit mycall goal for the day.
Now, granted, it was, you know,kind of COVID time, so I didn't
have, you know, my kids havingto go to soccer practice at that
(06:07):
time, but I would still do thattoday.
I mean, I'm still here today.
You know eight, nine o'clock inmy, in my office still working,
so you got to stay hungry.
My second year I did another 20transactions, but now I was
dealing with better aircraft,and so the commission's doubled.
So I made $200,000 in my firstyear.
My third year I made over$600,000.
And that was, I would argue,probably in one of the biggest
aviation bubbles we had seen.
It became a seller's market, soplanes were selling for high
(06:28):
dollar amounts and that impactedour commissions and we knew if
we got a listing that we wouldsell it.
But let me say this yeah, itwas a booming market, but you
know what.
Everybody was succeeding, butyou know what.
Not everybody succeeded at thesame level and you needed to
have a listing and a lot ofpeople were calling to get
listings.
But I found at least 20 deals.
(06:50):
Some people only found two orthree for the year and they made
their a hundred grand and theywere done.
They were fine, I wasn't.
And so how much money can youmake is really up to you.
The key to making money as a jetbroker number one is you got to
master the cold call.
You got to master picking upthe phone and doing the work,
and that's going to get you yourfirst 10 grand just picking up
(07:11):
the phone.
Then you have to start tomaster what you're saying on the
phone call and how you'renegotiating deals.
Then you have to maybe get your25K.
Then to get the 50K you have tomaster doing multiple deals and
then to get to 100K.
You need to master doing allthose four things cold calling,
negotiating the deals,navigating the deals, getting
(07:32):
them to close and then multipleat a time.
So, for example, when I wasbusy, I had almost 20 listings
between 12 and 20 listings atany given time under my name and
I probably had three to sixdeals going on at once.
And that's the level you needto play at if you want to make
multiple six figures.
(07:53):
And just to be clear again, ifyou want to learn how to be a
jet broker and make six figures,I can help.
If you want to be a jet brokerand be a millionaire, I can help
.
If you want to be a jet brokerand be a millionaire, I'm not
your guy, I haven't done that.
There's some amazing, amazingprofessionals in the industry
that have been around forgenerations, literally like
third generation, and they can,they can.
(08:16):
I'm sure they can help you.
Now it might be harder to gettheir attention, it might be
hard to get them to payattention to you, for them to
actually train you, and it mightbe a whole different process.
But I just want to be supertransparent on what I offer when
I talk about pulling back thecurtain and talking to people
about becoming jet brokers.
So how much money can you make?
My goal when I work with peopleis to help them make $100,000
(08:37):
in their first year.
Not everybody does the workthat needs to be done, but
that's my goal.
As far as how much money peoplecan make, this was a great
question.
I got actually yesterday on aphone call.
They were asking willartificial intelligence replace
brokers?
And what I like about thisquestion is that it's very
timely, right?
I mean, it's something that wehave to talk about, something
(08:58):
that we'd be aware of, and, inmy personal opinion, I said no,
I don't think so, because everydeal is different, and so I'm
actually currently working witha piece of software that I'm
really excited about.
It's a piece of softwarespecifically designed for
brokers, so that when you putall the details of a deal into
(09:19):
it will not only track it, butit can actually automate some of
the process of the deal.
I can put data into it and itcan spit out a valuation on an
airplane.
I can put data into it.
It can spit out a wholecontract with a template.
I can put data into it and wecan almost use it like an escrow
, and it's fantastic.
I love technology, but I was onthe phone with the developer
yesterday because I had twodeals both that were different.
(09:42):
That required differentordering.
It required different orderinga day where a lot of the
transactions are automated beable to be as flexible and a
machine's not going to talk toan owner or a buyer when things
(10:26):
are hitting the fan and calmthem down.
So when the seller has gonethrough a pre-buy and now they
have to fix $100,000 worth ofsquawks, ai is not going to make
that phone call and be likehello, sir, you need to fix
$100,000 worth of squawks onyour airplane.
That you thought was perfectbecause it just went through an
inspection with the manufacturersix months ago and now you owe
(10:46):
$100,000 because that's theagreement that you agreed to.
Here's the contract.
Ai is not having thatconversation.
That's going to require aprofessional to navigate.
When that seller hits, the roof, tears up a new one and we're
able to still get the dealacross the line.
So I don't think AI willreplace brokers, but I do think
(11:08):
it will play a pivotal role inhow transactions are done,
moving forward.
All right, we've got just a fewquestions left, but before I get
to our last two questions,talking about the broker field
and being a broker in a downmarket.
I do want to just encourage youif you haven't already checked
out the Circle community.
That's a great place to getstarted if you're an aspiring
(11:29):
broker, so just check out thisquick little announcement.
Thank you so much for watching.
If you haven't already, go tocirclejetlifearrowcom and check
out our online community foraspiring brokers and current
brokers.
Here you'll find discussions,all things aviation-based things
that you're going to want toknow as an aircraft broker.
(11:49):
You can also check out our freetraining as well as more
resources that are available tohelp you to become a better jet
broker.
That's circlejetlifeaerocom tobegin your journey within the
broker community absolutely free, all right.
So the next question is is thebroker career field saturated?
(12:12):
I mean, if you look at realestate, right, I mean, there's
so many real estate.
It's like you go to a party,you throw a rock and you're
going to hit like three realtors.
Everybody does real estate.
I just saw another buddy ofmine.
He was on Facebook.
He was a youth minister andhe's like hey, I need to make
some extra income.
So I became a real estate agentbook.
He was a youth minister andhe's like hey, I need to make
some extra income so I became areal estate agent.
Cool, um, I believe.
(12:32):
If I Google it, it's roughly 3million real estate agents in
the United States right now.
When I go to jet net, um,there's 3000 registered broker
dealers on there.
Let's say each of them has 10brokers, which they're mostly
one or two guys per group.
Some of them have like four orfive or six, whatever.
(12:52):
That's 30,000.
So compare brokers to realestates.
I very rarely go to a communityparty and I say I sell private
jets and I've never actuallyunless it's been an NBAA event
I've never been at a party orsocial gathering where there's
other jet brokers.
There's pilots, sometimesthere's charter brokers,
whatever.
(13:12):
It doesn't happen.
So I don't think the careerfield is saturated.
I think the career field hasbeen kept from a lot of people
and I feel very blessed that theagency that I worked with took
a chance on someone with noaviation background and this is
what I'm doing here is trying to.
Aviation changed my life.
I want to help more peoplechange their life through
aviation.
I think it is becomingincreasingly saturated with
(13:37):
aspiring brokers and notice howI say aspiring brokers, not new
brokers, rookie brokers,neophyte brokers, anything.
I'm not saying that in acondescending way.
Yeah, more people are cominginto the industry and there's a
reason why part of jet lifearrow's vision is to raise the
level of professionalism in inin aviation and and we're going
(14:01):
to make mistakes along the way,but that's our ultimate goal,
and so I think it's important,if you want to be in aviation,
that you partner with a group oran individual that can help you
do it the right way and thatcan help you do it with
professionalism.
We have our core values for areason Honesty, transparency,
humility, responsibility,education, positivity.
(14:22):
I mean it's all there becausewe want to raise the level of
professionalism.
So I would caution, I would sayno, it's not a saturated field,
but it's becoming more and morefull of brokers that don't know
what they're doing, andsometimes it's not their fault.
Everybody was a new broker atsome point.
But if they keep makingmistakes over and over and don't
grow for them, then I have aproblem.
(14:43):
But just because you are brandnew, I'm not going to write you
off and I would say that maybethe career field is becoming
saturated people that don't knowwhat they're doing.
But I think that's a good thing, because we're going to change
the way aviation is done andit's going to allow more people
who wouldn't have had theopportunity to be brokers to do
(15:04):
it.
I like that, hayden.
I like what you're saying there.
Neophy is my new favorite word.
All right, so throw yourquestions in the comments if you
have any.
This is going to be our lastquestion for today.
How do brokers do in a downmarket?
Now again, I started in 2020,right as COVID was hitting.
(15:24):
It was a down market in so faras there weren't a lot of
transactions.
A down market in so far asthere weren't a lot of
transactions.
Owners started to panic sellbecause they saw that we weren't
going to be able to flyanywhere mask mandates, all this
kind of stuff and this was theexcuse that a lot of owners used
to say I've owned my jet for Xamount of years, I don't use it
(15:46):
as much.
I'm not using it, so let mejust sell it while I can get a
good number.
Well, that triggered some panicbuying.
Sell it while I can get a goodnumber.
Well, that triggered some panicbuying.
And it became a buyer's marketin 2020, but there were still
transactions happening.
Then things started to shift andpeople were like, oh, I haven't
spent money in a few years, nowI can go places.
There's a great tax write-off,interest rates are fantastic.
(16:07):
It was a perfect storm foraviation.
So it boomed and became aseller's market.
They can name their prices.
As long as there's volatilityin the marketplace, there's a
role for brokers, right.
If sellers want to sell, ifbuyers want to buy, we can help
them.
Now, in a down market, thenumber of transactions gets
(16:32):
smaller and actually what Iwould recommend is I would
recommend you check out let mesee if I can find him the Russo
Report.
The Russo Report If you'rereally into markets, dennis
Russo is a great resource tocheck out.
The Russo Report just came outwith two days ago.
I should probably do a rewatchof this, but he does a whole
(16:55):
thing on where the market'scurrently at, how people bought
and sold, you know, and wherethings are going with it.
Okay, so there's a recordnumber of cj4s on the market
here.
He was talking about the cj3s,so he does a really good job.
I liked listening to what he hadto say.
Yeah, june 21,.
(17:15):
The Gulfstream G200s were 2.6and then went to 3.7, 4.3.
Now they're down to 3.4.
41 aircraft available.
Ask price is ranging.
Market time is 188 days.
At one point it was 139, butthe absorption rate is a lot
lower or a lot longer.
Anyway, all this to say all that, to say how do brokers do in a
down market?
You might have to work twice ashard to get the same results,
(17:38):
or maybe a little bit less.
But that's how I take it.
I take responsibility.
It's up to me to find success.
No matter what the market is,there's always opportunity.
And so I think this is achallenge.
A down market is a challenge.
If you're a broker on your own,you're just kind of like oh my
gosh, what do I do?
But if you're in the rightgroup, with the right team, you
(18:01):
guys as a collective can havethe right mindset and spur each
other on so that you guys canall find success.
And that's what I like to dowith Jet Life Arrow is that,
yeah, we might be going into adown market.
That just means we work harder,you know, and we do what works.
So, for example, like we spendmore time on the cold calls
(18:23):
instead of making videos orsending out direct mail, like we
do what works and we doubledown on that stuff, and then
that's where we're going to findsuccess.
So that's how I think brokerswill do in a down market.
So I hope this was enjoyablefor y'all.
I really do appreciate yourtime.
I hope you will go totheultimatejetguidecom and
(18:44):
schedule a call with me and findout more about being a private
jet broker, and we'll see younext week.
My third year, I made over $600,000, and that was, I
would argue, probably in one ofthe biggest aviation bubbles we
had seen.
It became a seller's market.
Hello and welcome to thechannel.
My name is Tom Lelio.
I'm your ultimate jet guide.
Today we're pulling back thecurtain on private aviation.
(00:23):
Whether you're a buyer or anaspiring broker, we help you buy
or sell private jets withoutwasting time, losing money and
with no experience necessary.
Today we're taking a look atsome of the FAQs that we get on
a regular basis for aspiringbrokers, so I'm very, very
excited to be sharing thesequestions with you.
If you have any questions, youcan go ahead and click on the
(00:47):
comments below and I will answeryour questions later on in the
video.
Good morning, hayden.
Always good to see you, myfriend.
All right.
So number one how do you get tobe a jet broker?
What does it take?
What do you have to do tobecome a private jet broker?
So becoming a private jetbroker is really interesting,
because there's no license orcertification to be a private
(01:09):
jet broker.
One of the best parts aboutbeing a private jet broker.
One of the worst parts aboutbecoming a private jet broker is
there's no license orcertification needed to become a
private jet broker.
And what I mean by that is,sometimes you just don't know
what you don't know right?
If you want to be a real estateagent, you go take a real
estate course.
If you want to be a doctor, yougo to med school.
(01:30):
You want to be a lawyer, you goto law school.
When it comes to being a broker,I guess there's a few ways to
figure it out.
Number one you can join abrokerage and they'll teach you
how to become a jet broker andthey'll show you how to do
market research, how to talk tohigh net worth individuals, how
to navigate a deal, all thepaperwork, all the documents
(01:50):
that you need.
But at the same time, nowyou're stuck with a brokerage.
Whether you like them, don'tlike them, you might be capped
at your commission.
You might have to movesomewhere to be a part of that
brokerage.
You might not be able to getinto a brokerage because there's
none around you or there's nonehiring.
So you might be out of luck ifyou just want to become one,
(02:11):
because no one's going to letyou into the brokerage.
Another way to become a brokeris just your circles that you
travel in.
Maybe you were born into abroker family, or maybe you're
born into an aviation family orsurrounded by aviation.
Maybe you're a mechanic, maybeyou're a pilot, and so you just
kind of see deals get done fromtime to time and you're just
kind of used to it by now.
(02:31):
And so you pick up littlethings and you're just like,
well, I could find a jet, well,I could sell a jet for you, and
you just kind of figure it outas you go along, but you're
still just kind of stumbling,you know, on your own.
Or maybe you're someone has noaviation experience whatsoever
and you just don't even knowwhere to get started.
Again, there's no license orcertification to become a broker
(02:51):
, but there are resources.
So I want to shout out my buddy, alex at the aircraft broker
Academy.
Uh, he's got a fantastic onlinecourse that you can take.
It's like a hundred videos.
I mean this is a great coursefor people that want to become a
broker and do it on their own,because he goes through setting
up your business, setting upyour marketing, it's all that
kind of stuff.
(03:12):
But I know some people don'twant to start their own
brokerage and start from scratchwhen you have no idea.
You've never done this beforeand some people just want to
learn how to do it.
But within the context of acommunity and maybe within the
context of a remote-basedbrokerage, and that's where
JetLife Arrow comes in.
We can train you how to be abroker, but also it gives you an
opportunity to work with us asa broker.
(03:35):
So that's one way, another waythat you can do it.
So becoming a broker, there's alot of different ways to do it.
But if you have no aviationbackground whatsoever, I
recommend that you go to theultimatejetguidecom and schedule
a call with me and I'd be happyto give you some more
background on that.
Let's take a look at frequentlyasked question number two how
(03:57):
much money can you make as aprivate jet broker?
Now I'm going to preface this alittle bit by saying you know
it depends, and I hate thatanswer.
Anytime I ask somebody thatquestion, like how much can I,
how much is this, how much isthat, or what do we do, and they
say it depends.
And the reason it depends isbecause it depends how hard
you're willing to work.
And so my first year as a jetbroker, I had no aviation
(04:21):
background whatsoever.
I came into it as a music schoolmarketing manager, sales and
marketing manager, and prior tothat I was a youth minister for
10 years.
The only aviation background Ihad was watching the original
Top Gun, and so all I knew wasthat I had to make this work.
I knew I was in sales, I knew Iwas going to be on commission.
I had a little bit of a drawwhen I first started out a
(04:43):
couple hundred bucks a week.
But I knew if I was going to besuccessful at this I had to
push, and so I really leanedinto Grant Cardone's 10X rule.
His 10X rule says if it's goingto take you 100 calls a day to
be successful, you should beshooting for 10X 1,000 calls a
day.
Now, I never called more than120 or so people in a given day.
(05:04):
But my attitude, my hustle, myjob I didn't go to lunch.
Everybody else went to lunch, Istayed in and I just kept
making phone calls.
I didn't spend a lot of timeresearching people.
You know who I was calling.
I didn't Google them and findout what their business was and
found out that they sold, youknow farming equipment and then
try to make a phone call andtell them about farming
(05:25):
equipment or actually I'dprobably have to Google like
what half the farm equipment wasand then make the phone call
and that would take up 10minutes.
No, no, no.
I picked up the phone.
There was a phone number there,I was going to call it and I, I
.
So there's the hustle.
And so my first year, to kind ofget to the point how much I can
make, I sold 20 jets and I madeover a hundred thousand dollars
in my first year.
There's a lot of hustle, a lotof.
(05:47):
I was the first one in theoffice.
I was the last one leavingbecause I knew I just I wouldn't
leave the office until I hit mycall goal for the day.
Now, granted, it was, you know,kind of COVID time, so I didn't
have, you know, my kids havingto go to soccer practice at that
(06:07):
time, but I would still do thattoday.
I mean, I'm still here today.
You know eight, nine o'clock inmy, in my office still working,
so you got to stay hungry.
My second year I did another 20transactions, but now I was
dealing with better aircraft,and so the commission's doubled.
So I made $200,000 in my firstyear.
My third year I made over$600,000.
And that was, I would argue,probably in one of the biggest
aviation bubbles we had seen.
It became a seller's market, soplanes were selling for high
(06:28):
dollar amounts and that impactedour commissions and we knew if
we got a listing that we wouldsell it.
But let me say this yeah, itwas a booming market, but you
know what.
Everybody was succeeding, butyou know what.
Not everybody succeeded at thesame level and you needed to
have a listing and a lot ofpeople were calling to get
listings.
But I found at least 20 deals.
(06:50):
Some people only found two orthree for the year and they made
their a hundred grand and theywere done.
They were fine, I wasn't.
And so how much money can youmake is really up to you.
The key to making money as a jetbroker number one is you got to
master the cold call.
You got to master picking upthe phone and doing the work,
and that's going to get you yourfirst 10 grand just picking up
(07:11):
the phone.
Then you have to start tomaster what you're saying on the
phone call and how you'renegotiating deals.
Then you have to maybe get your25K.
Then to get the 50K you have tomaster doing multiple deals and
then to get to 100K.
You need to master doing allthose four things cold calling,
negotiating the deals,navigating the deals, getting
(07:32):
them to close and then multipleat a time.
So, for example, when I wasbusy, I had almost 20 listings
between 12 and 20 listings atany given time under my name and
I probably had three to sixdeals going on at once.
And that's the level you needto play at if you want to make
multiple six figures.
(07:53):
And just to be clear again, ifyou want to learn how to be a
jet broker and make six figures,I can help.
If you want to be a jet brokerand be a millionaire, I can help
.
If you want to be a jet brokerand be a millionaire, I'm not
your guy, I haven't done that.
There's some amazing, amazingprofessionals in the industry
that have been around forgenerations, literally like
third generation, and they can,they can.
(08:16):
I'm sure they can help you.
Now it might be harder to gettheir attention, it might be
hard to get them to payattention to you, for them to
actually train you, and it mightbe a whole different process.
But I just want to be supertransparent on what I offer when
I talk about pulling back thecurtain and talking to people
about becoming jet brokers.
So how much money can you make?
My goal when I work with peopleis to help them make $100,000
(08:37):
in their first year.
Not everybody does the workthat needs to be done, but
that's my goal.
As far as how much money peoplecan make, this was a great
question.
I got actually yesterday on aphone call.
They were asking willartificial intelligence replace
brokers?
And what I like about thisquestion is that it's very
timely, right?
I mean, it's something that wehave to talk about, something
(08:58):
that we'd be aware of, and, inmy personal opinion, I said no,
I don't think so, because everydeal is different, and so I'm
actually currently working witha piece of software that I'm
really excited about.
It's a piece of softwarespecifically designed for
brokers, so that when you putall the details of a deal into
(09:19):
it will not only track it, butit can actually automate some of
the process of the deal.
I can put data into it and itcan spit out a valuation on an
airplane.
I can put data into it.
It can spit out a wholecontract with a template.
I can put data into it and wecan almost use it like an escrow
, and it's fantastic.
I love technology, but I was onthe phone with the developer
yesterday because I had twodeals both that were different.
(09:42):
That required differentordering.
It required different orderinga day where a lot of the
transactions are automated beable to be as flexible and a
machine's not going to talk toan owner or a buyer when things
(10:26):
are hitting the fan and calmthem down.
So when the seller has gonethrough a pre-buy and now they
have to fix $100,000 worth ofsquawks, ai is not going to make
that phone call and be likehello, sir, you need to fix
$100,000 worth of squawks onyour airplane.
That you thought was perfectbecause it just went through an
inspection with the manufacturersix months ago and now you owe
(10:46):
$100,000 because that's theagreement that you agreed to.
Here's the contract.
Ai is not having thatconversation.
That's going to require aprofessional to navigate.
When that seller hits, the roof, tears up a new one and we're
able to still get the dealacross the line.
So I don't think AI willreplace brokers, but I do think
(11:08):
it will play a pivotal role inhow transactions are done,
moving forward.
All right, we've got just a fewquestions left, but before I get
to our last two questions,talking about the broker field
and being a broker in a downmarket.
I do want to just encourage youif you haven't already checked
out the Circle community.
That's a great place to getstarted if you're an aspiring
(11:29):
broker, so just check out thisquick little announcement.
Thank you so much for watching.
If you haven't already, go tocirclejetlifearrowcom and check
out our online community foraspiring brokers and current
brokers.
Here you'll find discussions,all things aviation-based things
that you're going to want toknow as an aircraft broker.
(11:49):
You can also check out our freetraining as well as more
resources that are available tohelp you to become a better jet
broker.
That's circlejetlifeaerocom tobegin your journey within the
broker community absolutely free, all right.
So the next question is is thebroker career field saturated?
(12:12):
I mean, if you look at realestate, right, I mean, there's
so many real estate.
It's like you go to a party,you throw a rock and you're
going to hit like three realtors.
Everybody does real estate.
I just saw another buddy ofmine.
He was on Facebook.
He was a youth minister andhe's like hey, I need to make
some extra income.
So I became a real estate agentbook.
He was a youth minister andhe's like hey, I need to make
some extra income so I became areal estate agent.
Cool, um, I believe.
(12:32):
If I Google it, it's roughly 3million real estate agents in
the United States right now.
When I go to jet net, um,there's 3000 registered broker
dealers on there.
Let's say each of them has 10brokers, which they're mostly
one or two guys per group.
Some of them have like four orfive or six, whatever.
(12:52):
That's 30,000.
So compare brokers to realestates.
I very rarely go to a communityparty and I say I sell private
jets and I've never actuallyunless it's been an NBAA event
I've never been at a party orsocial gathering where there's
other jet brokers.
There's pilots, sometimesthere's charter brokers,
whatever.
(13:12):
It doesn't happen.
So I don't think the careerfield is saturated.
I think the career field hasbeen kept from a lot of people
and I feel very blessed that theagency that I worked with took
a chance on someone with noaviation background and this is
what I'm doing here is trying to.
Aviation changed my life.
I want to help more peoplechange their life through
aviation.
I think it is becomingincreasingly saturated with
(13:37):
aspiring brokers and notice howI say aspiring brokers, not new
brokers, rookie brokers,neophyte brokers, anything.
I'm not saying that in acondescending way.
Yeah, more people are cominginto the industry and there's a
reason why part of jet lifearrow's vision is to raise the
level of professionalism in inin aviation and and we're going
(14:01):
to make mistakes along the way,but that's our ultimate goal,
and so I think it's important,if you want to be in aviation,
that you partner with a group oran individual that can help you
do it the right way and thatcan help you do it with
professionalism.
We have our core values for areason Honesty, transparency,
humility, responsibility,education, positivity.
(14:22):
I mean it's all there becausewe want to raise the level of
professionalism.
So I would caution, I would sayno, it's not a saturated field,
but it's becoming more and morefull of brokers that don't know
what they're doing, andsometimes it's not their fault.
Everybody was a new broker atsome point.
But if they keep makingmistakes over and over and don't
grow for them, then I have aproblem.
(14:43):
But just because you are brandnew, I'm not going to write you
off and I would say that maybethe career field is becoming
saturated people that don't knowwhat they're doing.
But I think that's a good thing, because we're going to change
the way aviation is done andit's going to allow more people
who wouldn't have had theopportunity to be brokers to do
(15:04):
it.
I like that, hayden.
I like what you're saying there.
Neophy is my new favorite word.
All right, so throw yourquestions in the comments if you
have any.
This is going to be our lastquestion for today.
How do brokers do in a downmarket?
Now again, I started in 2020,right as COVID was hitting.
(15:24):
It was a down market in so faras there weren't a lot of
transactions.
A down market in so far asthere weren't a lot of
transactions.
Owners started to panic sellbecause they saw that we weren't
going to be able to flyanywhere mask mandates, all this
kind of stuff and this was theexcuse that a lot of owners used
to say I've owned my jet for Xamount of years, I don't use it
(15:46):
as much.
I'm not using it, so let mejust sell it while I can get a
good number.
Well, that triggered some panicbuying.
Sell it while I can get a goodnumber.
Well, that triggered some panicbuying.
And it became a buyer's marketin 2020, but there were still
transactions happening.
Then things started to shift andpeople were like, oh, I haven't
spent money in a few years, nowI can go places.
There's a great tax write-off,interest rates are fantastic.
(16:07):
It was a perfect storm foraviation.
So it boomed and became aseller's market.
They can name their prices.
As long as there's volatilityin the marketplace, there's a
role for brokers, right.
If sellers want to sell, ifbuyers want to buy, we can help
them.
Now, in a down market, thenumber of transactions gets
(16:32):
smaller and actually what Iwould recommend is I would
recommend you check out let mesee if I can find him the Russo
Report.
The Russo Report If you'rereally into markets, dennis
Russo is a great resource tocheck out.
The Russo Report just came outwith two days ago.
I should probably do a rewatchof this, but he does a whole
(16:55):
thing on where the market'scurrently at, how people bought
and sold, you know, and wherethings are going with it.
Okay, so there's a recordnumber of cj4s on the market
here.
He was talking about the cj3s,so he does a really good job.
I liked listening to what he hadto say.
Yeah, june 21,.
(17:15):
The Gulfstream G200s were 2.6and then went to 3.7, 4.3.
Now they're down to 3.4.
41 aircraft available.
Ask price is ranging.
Market time is 188 days.
At one point it was 139, butthe absorption rate is a lot
lower or a lot longer.
Anyway, all this to say all that, to say how do brokers do in a
down market?
You might have to work twice ashard to get the same results,
(17:38):
or maybe a little bit less.
But that's how I take it.
I take responsibility.
It's up to me to find success.
No matter what the market is,there's always opportunity.
And so I think this is achallenge.
A down market is a challenge.
If you're a broker on your own,you're just kind of like oh my
gosh, what do I do?
But if you're in the rightgroup, with the right team, you
(18:01):
guys as a collective can havethe right mindset and spur each
other on so that you guys canall find success.
And that's what I like to dowith Jet Life Arrow is that,
yeah, we might be going into adown market.
That just means we work harder,you know, and we do what works.
So, for example, like we spendmore time on the cold calls
(18:23):
instead of making videos orsending out direct mail, like we
do what works and we doubledown on that stuff, and then
that's where we're going to findsuccess.
So that's how I think brokerswill do in a down market.
So I hope this was enjoyablefor y'all.
I really do appreciate yourtime.
I hope you will go totheultimatejetguidecom and
(18:44):
schedule a call with me and findout more about being a private
jet broker, and we'll see younext week.
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