December 27, 2024 • 11 mins
In today's episode I break down "The Jet Broker Code" which is an outgrowth of the Core Values I've tried to instill in myself over the past 2 years. This is an important first step when deciding to enter into the world of Private Aviation.
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
Hello and welcome everybody.
My name is Tom Lelio.
I'm your ultimate jet guide andon this channel we pull back
the curtain on private aviationto help you buy or sell a
private jet with no experiencenecessary to get started.
Today's episode we're pullingback the curtain on the private
jet broker code.
(00:21):
Keep to the code.
It's just like the pirates.
We got a code, a code ofconduct, a code of ethics, if
you will, a code that I thinkdoesn't get enough exposure.
People don't talk about it alot.
I'm not saying I wrote the code, but this is the code that I
(00:43):
made for myself.
When I first got started, I waslike I need to figure out what
my core values are, and so yousee them in the videos, right,
they're up here Positivity,resilience, education,
transparency, honesty andhumility, and so I wanted to
take those and I wanted to putthem into action.
What would it look like if ajet broker actually did that?
(01:05):
What would that jet broker looklike?
So I've got we created it intothe I don't know if you can see
that, if it'll zoom in on thatYep, the jet broker code.
So this is straight out of ourworkbook for private jet brokers
.
If you want to take our privatejet broker certificate course
and I'm going to share with youwhat a jet broker ought to be
(01:27):
like.
So let's see what we got herethe jet broker code.
Let's get started.
A jet broker is positive.
So this means a jet broker ispositive.
They are developing anabundance mindset, always seeing
the glass half full.
The positivity should bereflected in all transactions,
as well as relationships withclients and other industry
(01:49):
professionals.
Let's just be honest here, guysthere's a lot of negativity in
the world, and there can be alot of negativity when it comes
to aviation.
Sometimes other brokers arejust trying to shoot you down.
Right, people get mad.
And sometimes it's not evennegativity, it's just like
people are mad, they're upset,they're not getting the deal
that they want.
Or the seller just found outthat his plane needs $100,000
(02:09):
worth of stuff that needs to getfixed.
He's not happy, and so having apositive mindset I think is
really important, and I thinkbrokers ought to resign
themselves or commit themselvesto an attitude of positivity or
commit themselves to an attitudeof positivity.
It's just how I think is bestfor us all to work together to
(02:30):
find successful transactions.
So a jet broker is positive.
Number two a jet broker isresilient.
As I mentioned, a lot of things.
If anything's gonna go wrong,it will go wrong, and resiliency
is really important.
So resilience means thatproblems are opportunities.
When issues arise with a clientor with other brokers, a broker
(02:53):
should remain committed toprofessional, ethical,
successful transactions.
So when things pop up, whetherit's within the deal or outside
of a deal, maybe another brokergets mad at you because a deal
went south, maybe another, maybea pilot or mechanic gets upset
with how you handle atransaction.
We want to stay committed toresiliency, and the key to
(03:14):
resiliency I think I talkedabout it last week or two weeks
ago the key to resiliency ishaving a strong why, a strong
core reason for what we're doinghere.
Jet brokers can't crumble.
You can't be the kind of personthat is going to fall apart
when things get hard.
And I guess I want to saysomething I should have said
earlier these, this code, thesevalues.
(03:36):
This isn't like oh, act likeTom, because I have all these
values.
These are things that I'mconstantly striving towards, and
I want to invite you to strivetowards them with me so that
together we can raise the levelof professionalism in the
industry.
This is bigger than justJetLife Aero Brokerage or Tom.
(03:57):
This is my hope, my efforts, mycontribution to raise the level
of professionalism within theaviation community, and that's
at the service of brokers, butit's also at the service of
clients, the people that we dealwith on a daily basis, the
people who are buying or sellingthose high net worth
individuals.
This is a service to them aswell when we commit to this
(04:17):
JetBroker.
Code Number three a JetBrokerseeks learning.
Jetbroker is being committed toongoing education in the
aviation field, including marketknowledge, industry best
practices and professionaldevelopment.
A lot of great resources outthere MBAA, yopros maybe you're
part of GLADA, iata, nafa,avbuyer Online, ain Online,
(04:43):
global Air.
Just talking with people,meeting the people that are part
of this aviation ecosystem,always learning.
Don't be the smartest person inthe room.
If you're the smartest personin the room, if you're the
smartest person in the room, youneed to find a new room.
We should always be striving toimprove ourselves.
So that's the commitment tolearning.
(05:04):
A jet broker is transparent,that is, they ensure clarity and
fairness in every transactionfor clients and other
professionals.
A jet broker should beproviding accurate
representations of authority,commissions and aircraft
specifications.
I think this is reallyimportant.
I think that transparency issomething that people are afraid
(05:25):
of because if you'retransparent, it could hurt you
in a deal.
It could hurt you monetarily,it could hurt you with getting a
deal.
Hey sir, I'm sorry, I don'tthink your plane's worth $2
million, it's only worth 1.5.
And then some other brokertells them like, hey, it's worth
1.5.
They exaggerate the marketvalue.
I'm sorry, worth 2 million andyou lose that listing.
(05:49):
So it can be hard, but clarityand fairness, I think, is we
need more of.
It doesn't mean being that,doesn't mean getting walked over
.
But hey, sir, like I'm notgoing to cut my commission
anymore because this is what Ineed to make a living at this,
I'm worth every single penny andand be transparent about that,
like why you're asking whatyou're asking them.
Uh, I think it's important thatwe're transparent with clients
and other professionals andaccurate representations of
(06:12):
authority.
That means that we don't gopitching somebody else's plane
Like I'll have people that gosay, hey, I have, I have a you
know a Mustang for sale.
Actually I had somebody pitchme a Mustang and it was one of
our brokers.
It's like you don't have thisfor sale, this is this is this
is somebody else's listing.
So don't, don't presentyourself that you're.
You have the authority to sellthis and you don't.
(06:33):
Or they'll say hey, I got a guy, I got a buyer.
Okay, do you have a writtenagreement?
Well, no, okay, well then youdon't have authority to talk on
behalf of this person.
So don't misrepresent that.
Be transparent, really.
Listen, I have a guy.
He hasn't signed a contract, um, but I know through X, y and Z
(06:55):
and aircraft specifications, sowe don't hide things.
If we know there's somethinggoing on with an aircraft, it's
not like we're like oh,hopefully they don't find out.
No, we're transparent, even andthis goes into the next one
honesty.
We're transparent even if it'snot in our best interest.
So honesty means representingyour authority again and your
aircraft accurately andtruthfully, and your aircraft
accurately and truthfully,providing competent and timely
(07:17):
communication to clients andcolleagues, while avoiding
exaggeration, misrepresentationor concealment of facts.
Slash commissions I'm veryupfront with commissions.
I always want to talk.
What's one of the first thingsI talk to you when I talk to
somebody?
It's like how's everybodygetting paid?
Are you taken care of?
Are you taking care of it?
Great, okay, we're all takencare of.
Now we can move forward Insteadof.
I had one deal once where thepilot called me up the day of
(07:39):
closing Okay, where's my cut?
Wait, what are you talkingabout?
Like, honestly, to the best ofyour knowledge.
And again, honesty, even if itdoesn't serve you, it's at the
service of the client.
And that goes into humility.
(08:00):
A jet broker is humble.
We put service ahead of sales.
We treat all parties withfairness and deference,
approaching every transactionwith humility.
Prioritizing professionalismActually changed this.
Prioritizing people,relationships, professionalism
and ethical standards overself-interest.
Again, this doesn't mean thatyou become a doormat.
(08:23):
Okay, I have to tell peopleoften like don't, can, don't,
confuse my agreeability withweakness.
Okay, I'm very I I, I believein deference and I had to look
it up because I heard it todayand it means submission out of
respect.
You know, a a um, I'm okaysubmitting because I believe
submission means to be put undersomeone's mission.
(08:44):
So if the mission is to go buya jet and I'm not the one buying
it, it's my client Well, I'munder their mission, I submit to
the client and and I give, Ishow them respect.
That's humility.
The other thing with humility isyou know, I was listening to my
podcast today and somebodymentioned that because of
humility, we don't have to worryabout what other people think.
(09:05):
Like, if I'm humble and I thinkI'm not the greatest, well,
when someone comes out ofnowhere and says, hey, tom,
you're not the greatest, it'slike, yeah, I know I can do
better and I strive to do better.
So it also gives you abulletproof.
You know, um, disposition.
Uh, if I know I'm just startingout and I can, when I call
somebody, it's annoying to them.
Then, when they say, stopcalling me, you're annoying,
(09:27):
it's like, yeah, man, I know Igot to get better and that
encourages me to do better.
Next time I call that person, Idon't just waste their time.
And that goes into takingresponsibility.
See, when I find out that I'mdoing something wrong, I just
don't be like, okay, screw thatguy, I take responsibility.
I need to be better.
Taking responsibility, as wehave here in our workbook, is to
assume responsibility for youractions, ensure clients take the
(09:48):
appropriate actions as outlinedin the documents of a deal,
working collaboratively with allinvolved in the transaction.
So the reason I putresponsibility here I think this
is important because a lot oftimes I've noticed it can be
very easy to try to shuckresponsibility.
Oh, I haven't heard back fromthe person or oh, the lender
(10:09):
hasn't signed this yet.
Okay, well, I need to go to.
So an example would be you know, a document needs to get signed
for closing.
So I don't just put that onescrow but like, okay, go get
that.
Go get that document signed.
Like no, I put it on mychecklist and I either follow up
with escrow or I go call thatthat person that needs to sign
and say, hey, I need you to signthis because the escrow is busy
doing other things.
So I take responsibility to goget that.
(10:30):
And when I make a mistake, Itake full responsibility and I
learn and I feel it, I live withit and then I grow from it, and
I think that's really, reallyimportant.
When we're talking about whatdoes it mean to be a jet broker?
So, like I said, this is not anexhaustive list, but I think
this is a good start.
(10:51):
It's built out of the corevalues that I've tried to
espouse the last few years withmy brokerage and just
individually, and I think it'stime that we raise the level of
professional jet brokers bycommitting to a code, a code
that's not just for few, butit's for all, and I would like
to invite you to check this out.
(11:13):
There's a link to the PDF below.
Check it out, sign it and feelfree to hang it up and take a
picture with it and show others,show yourself and show people
listen.
I'm committed to the code.
Hello and welcome everybody.
My name is Tom Lelio.
I'm your ultimate jet guide andon this channel we pull back
the curtain on private aviationto help you buy or sell a
private jet with no experiencenecessary to get started.
Today's episode we're pullingback the curtain on the private
jet broker code.
(00:21):
Keep to the code.
It's just like the pirates.
We got a code, a code ofconduct, a code of ethics, if
you will, a code that I thinkdoesn't get enough exposure.
People don't talk about it alot.
I'm not saying I wrote the code, but this is the code that I
(00:43):
made for myself.
When I first got started, I waslike I need to figure out what
my core values are, and so yousee them in the videos, right,
they're up here Positivity,resilience, education,
transparency, honesty andhumility, and so I wanted to
take those and I wanted to putthem into action.
What would it look like if ajet broker actually did that?
(01:05):
What would that jet broker looklike?
So I've got we created it intothe I don't know if you can see
that, if it'll zoom in on thatYep, the jet broker code.
So this is straight out of ourworkbook for private jet brokers
.
If you want to take our privatejet broker certificate course
and I'm going to share with youwhat a jet broker ought to be
(01:27):
like.
So let's see what we got herethe jet broker code.
Let's get started.
A jet broker is positive.
So this means a jet broker ispositive.
They are developing anabundance mindset, always seeing
the glass half full.
The positivity should bereflected in all transactions,
as well as relationships withclients and other industry
(01:49):
professionals.
Let's just be honest here, guysthere's a lot of negativity in
the world, and there can be alot of negativity when it comes
to aviation.
Sometimes other brokers arejust trying to shoot you down.
Right, people get mad.
And sometimes it's not evennegativity, it's just like
people are mad, they're upset,they're not getting the deal
that they want.
Or the seller just found outthat his plane needs $100,000
(02:09):
worth of stuff that needs to getfixed.
He's not happy, and so having apositive mindset I think is
really important, and I thinkbrokers ought to resign
themselves or commit themselvesto an attitude of positivity or
commit themselves to an attitudeof positivity.
It's just how I think is bestfor us all to work together to
(02:30):
find successful transactions.
So a jet broker is positive.
Number two a jet broker isresilient.
As I mentioned, a lot of things.
If anything's gonna go wrong,it will go wrong, and resiliency
is really important.
So resilience means thatproblems are opportunities.
When issues arise with a clientor with other brokers, a broker
(02:53):
should remain committed toprofessional, ethical,
successful transactions.
So when things pop up, whetherit's within the deal or outside
of a deal, maybe another brokergets mad at you because a deal
went south, maybe another, maybea pilot or mechanic gets upset
with how you handle atransaction.
We want to stay committed toresiliency, and the key to
(03:14):
resiliency I think I talkedabout it last week or two weeks
ago the key to resiliency ishaving a strong why, a strong
core reason for what we're doinghere.
Jet brokers can't crumble.
You can't be the kind of personthat is going to fall apart
when things get hard.
And I guess I want to saysomething I should have said
earlier these, this code, thesevalues.
(03:36):
This isn't like oh, act likeTom, because I have all these
values.
These are things that I'mconstantly striving towards, and
I want to invite you to strivetowards them with me so that
together we can raise the levelof professionalism in the
industry.
This is bigger than justJetLife Aero Brokerage or Tom.
(03:57):
This is my hope, my efforts, mycontribution to raise the level
of professionalism within theaviation community, and that's
at the service of brokers, butit's also at the service of
clients, the people that we dealwith on a daily basis, the
people who are buying or sellingthose high net worth
individuals.
This is a service to them aswell when we commit to this
(04:17):
JetBroker.
Code Number three a JetBrokerseeks learning.
Jetbroker is being committed toongoing education in the
aviation field, including marketknowledge, industry best
practices and professionaldevelopment.
A lot of great resources outthere MBAA, yopros maybe you're
part of GLADA, iata, nafa,avbuyer Online, ain Online,
(04:43):
global Air.
Just talking with people,meeting the people that are part
of this aviation ecosystem,always learning.
Don't be the smartest person inthe room.
If you're the smartest personin the room, if you're the
smartest person in the room, youneed to find a new room.
We should always be striving toimprove ourselves.
So that's the commitment tolearning.
(05:04):
A jet broker is transparent,that is, they ensure clarity and
fairness in every transactionfor clients and other
professionals.
A jet broker should beproviding accurate
representations of authority,commissions and aircraft
specifications.
I think this is reallyimportant.
I think that transparency issomething that people are afraid
(05:25):
of because if you'retransparent, it could hurt you
in a deal.
It could hurt you monetarily,it could hurt you with getting a
deal.
Hey sir, I'm sorry, I don'tthink your plane's worth $2
million, it's only worth 1.5.
And then some other brokertells them like, hey, it's worth
1.5.
They exaggerate the marketvalue.
I'm sorry, worth 2 million andyou lose that listing.
(05:49):
So it can be hard, but clarityand fairness, I think, is we
need more of.
It doesn't mean being that,doesn't mean getting walked over
.
But hey, sir, like I'm notgoing to cut my commission
anymore because this is what Ineed to make a living at this,
I'm worth every single penny andand be transparent about that,
like why you're asking whatyou're asking them.
Uh, I think it's important thatwe're transparent with clients
and other professionals andaccurate representations of
(06:12):
authority.
That means that we don't gopitching somebody else's plane
Like I'll have people that gosay, hey, I have, I have a you
know a Mustang for sale.
Actually I had somebody pitchme a Mustang and it was one of
our brokers.
It's like you don't have thisfor sale, this is this is this
is somebody else's listing.
So don't, don't presentyourself that you're.
You have the authority to sellthis and you don't.
(06:33):
Or they'll say hey, I got a guy, I got a buyer.
Okay, do you have a writtenagreement?
Well, no, okay, well then youdon't have authority to talk on
behalf of this person.
So don't misrepresent that.
Be transparent, really.
Listen, I have a guy.
He hasn't signed a contract, um, but I know through X, y and Z
(06:55):
and aircraft specifications, sowe don't hide things.
If we know there's somethinggoing on with an aircraft, it's
not like we're like oh,hopefully they don't find out.
No, we're transparent, even andthis goes into the next one
honesty.
We're transparent even if it'snot in our best interest.
So honesty means representingyour authority again and your
aircraft accurately andtruthfully, and your aircraft
accurately and truthfully,providing competent and timely
(07:17):
communication to clients andcolleagues, while avoiding
exaggeration, misrepresentationor concealment of facts.
Slash commissions I'm veryupfront with commissions.
I always want to talk.
What's one of the first thingsI talk to you when I talk to
somebody?
It's like how's everybodygetting paid?
Are you taken care of?
Are you taking care of it?
Great, okay, we're all takencare of.
Now we can move forward Insteadof.
I had one deal once where thepilot called me up the day of
(07:39):
closing Okay, where's my cut?
Wait, what are you talkingabout?
Like, honestly, to the best ofyour knowledge.
And again, honesty, even if itdoesn't serve you, it's at the
service of the client.
And that goes into humility.
(08:00):
A jet broker is humble.
We put service ahead of sales.
We treat all parties withfairness and deference,
approaching every transactionwith humility.
Prioritizing professionalismActually changed this.
Prioritizing people,relationships, professionalism
and ethical standards overself-interest.
Again, this doesn't mean thatyou become a doormat.
(08:23):
Okay, I have to tell peopleoften like don't, can, don't,
confuse my agreeability withweakness.
Okay, I'm very I I, I believein deference and I had to look
it up because I heard it todayand it means submission out of
respect.
You know, a a um, I'm okaysubmitting because I believe
submission means to be put undersomeone's mission.
(08:44):
So if the mission is to go buya jet and I'm not the one buying
it, it's my client Well, I'munder their mission, I submit to
the client and and I give, Ishow them respect.
That's humility.
The other thing with humility isyou know, I was listening to my
podcast today and somebodymentioned that because of
humility, we don't have to worryabout what other people think.
(09:05):
Like, if I'm humble and I thinkI'm not the greatest, well,
when someone comes out ofnowhere and says, hey, tom,
you're not the greatest, it'slike, yeah, I know I can do
better and I strive to do better.
So it also gives you abulletproof.
You know, um, disposition.
Uh, if I know I'm just startingout and I can, when I call
somebody, it's annoying to them.
Then, when they say, stopcalling me, you're annoying,
(09:27):
it's like, yeah, man, I know Igot to get better and that
encourages me to do better.
Next time I call that person, Idon't just waste their time.
And that goes into takingresponsibility.
See, when I find out that I'mdoing something wrong, I just
don't be like, okay, screw thatguy, I take responsibility.
I need to be better.
Taking responsibility, as wehave here in our workbook, is to
assume responsibility for youractions, ensure clients take the
(09:48):
appropriate actions as outlinedin the documents of a deal,
working collaboratively with allinvolved in the transaction.
So the reason I putresponsibility here I think this
is important because a lot oftimes I've noticed it can be
very easy to try to shuckresponsibility.
Oh, I haven't heard back fromthe person or oh, the lender
(10:09):
hasn't signed this yet.
Okay, well, I need to go to.
So an example would be you know, a document needs to get signed
for closing.
So I don't just put that onescrow but like, okay, go get
that.
Go get that document signed.
Like no, I put it on mychecklist and I either follow up
with escrow or I go call thatthat person that needs to sign
and say, hey, I need you to signthis because the escrow is busy
doing other things.
So I take responsibility to goget that.
(10:30):
And when I make a mistake, Itake full responsibility and I
learn and I feel it, I live withit and then I grow from it, and
I think that's really, reallyimportant.
When we're talking about whatdoes it mean to be a jet broker?
So, like I said, this is not anexhaustive list, but I think
this is a good start.
(10:51):
It's built out of the corevalues that I've tried to
espouse the last few years withmy brokerage and just
individually, and I think it'stime that we raise the level of
professional jet brokers bycommitting to a code, a code
that's not just for few, butit's for all, and I would like
to invite you to check this out.
(11:13):
There's a link to the PDF below.
Check it out, sign it and feelfree to hang it up and take a
picture with it and show others,show yourself and show people
listen.
I'm committed to the code.
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