Brokerage fee

I'm working on the sale of a glider from a deceased club member for his estate. The estate has no idea how to sell a glider and what level of effort is involved. What is a fair brokerage fee (percentage) to handle the transaction for them? I plan on putting the glider on several websites and marketing it locally. I'll be handling inquiries, showing, the sale and paperwork to transfer ownership. Obviously I'm not a professional broker, just trying to help them but they have asked what a fair fee would be.

On Monday, October 14, 2019 at 7:23:48 PM UTC-4, wrote:
I'm working on the sale of a glider from a deceased club member for his estate. The estate has no idea how to sell a glider and what level of effort is involved. What is a fair brokerage fee (percentage) to handle the transaction for them? I plan on putting the glider on several websites and marketing it locally. I'll be handling inquiries, showing, the sale and paperwork to transfer ownership. Obviously I'm not a professional broker, just trying to help them but they have asked what a fair fee would be.

I have handled a couple and have treated them as a favor to my deceased friend.
FWIW
UH

On Monday, October 14, 2019 at 5:56:28 PM UTC-6, wrote:
On Monday, October 14, 2019 at 7:23:48 PM UTC-4, wrote:
I'm working on the sale of a glider from a deceased club member for his estate. The estate has no idea how to sell a glider and what level of effort is involved. What is a fair brokerage fee (percentage) to handle the transaction for them? I plan on putting the glider on several websites and marketing it locally. I'll be handling inquiries, showing, the sale and paperwork to transfer ownership. Obviously I'm not a professional broker, just trying to help them but they have asked what a fair fee would be.

I have handled a couple and have treated them as a favor to my deceased friend.
FWIW
UH

I would do the same, however, this is a club member who last was active nearly 20 years ago. Nobody remembers him. He did however continue to pay storage fees with our club during that time.

On Monday, October 14, 2019 at 8:07:34 PM UTC-4, wrote:
On Monday, October 14, 2019 at 5:56:28 PM UTC-6, wrote:
On Monday, October 14, 2019 at 7:23:48 PM UTC-4, wrote:
I'm working on the sale of a glider from a deceased club member for his estate. The estate has no idea how to sell a glider and what level of effort is involved. What is a fair brokerage fee (percentage) to handle the transaction for them? I plan on putting the glider on several websites and marketing it locally. I'll be handling inquiries, showing, the sale and paperwork to transfer ownership. Obviously I'm not a professional broker, just trying to help them but they have asked what a fair fee would be.

I have handled a couple and have treated them as a favor to my deceased friend.
FWIW
UH

I would do the same, however, this is a club member who last was active nearly 20 years ago. Nobody remembers him. He did however continue to pay storage fees with our club during that time.

Why don't you just sell the ship as a favor to the deceased? I sometimes am at a loss for words when it comes to this type of situation. Why be so worried about 20 years past.

On Monday, October 14, 2019 at 6:43:48 PM UTC-6, Bob Youngblood wrote:
On Monday, October 14, 2019 at 8:07:34 PM UTC-4, wrote:
On Monday, October 14, 2019 at 5:56:28 PM UTC-6, wrote:
On Monday, October 14, 2019 at 7:23:48 PM UTC-4, wrote:
I'm working on the sale of a glider from a deceased club member for his estate. The estate has no idea how to sell a glider and what level of effort is involved. What is a fair brokerage fee (percentage) to handle the transaction for them? I plan on putting the glider on several websites and marketing it locally. I'll be handling inquiries, showing, the sale and paperwork to transfer ownership. Obviously I'm not a professional broker, just trying to help them but they have asked what a fair fee would be.

I have handled a couple and have treated them as a favor to my deceased friend.
FWIW
UH

I would do the same, however, this is a club member who last was active nearly 20 years ago. Nobody remembers him. He did however continue to pay storage fees with our club during that time.

Why don't you just sell the ship as a favor to the deceased? I sometimes am at a loss for words when it comes to this type of situation. Why be so worried about 20 years past.

I can give you the estates contact info. You can take the lead.

On Monday, October 14, 2019 at 8:45:08 PM UTC-4, wrote:
On Monday, October 14, 2019 at 6:43:48 PM UTC-6, Bob Youngblood wrote:
On Monday, October 14, 2019 at 8:07:34 PM UTC-4, wrote:
On Monday, October 14, 2019 at 5:56:28 PM UTC-6, wrote:
On Monday, October 14, 2019 at 7:23:48 PM UTC-4, wrote:
I'm working on the sale of a glider from a deceased club member for his estate. The estate has no idea how to sell a glider and what level of effort is involved. What is a fair brokerage fee (percentage) to handle the transaction for them? I plan on putting the glider on several websites and marketing it locally. I'll be handling inquiries, showing, the sale and paperwork to transfer ownership. Obviously I'm not a professional broker, just trying to help them but they have asked what a fair fee would be.

I have handled a couple and have treated them as a favor to my deceased friend.
FWIW
UH

I would do the same, however, this is a club member who last was active nearly 20 years ago. Nobody remembers him. He did however continue to pay storage fees with our club during that time.

Why don't you just sell the ship as a favor to the deceased? I sometimes am at a loss for words when it comes to this type of situation. Why be so worried about 20 years past.

I can give you the estates contact info. You can take the lead.

If you have no affection for the deceased sell his glider, without taking a fee, for the good of soaring. It ain't that hard. Clubs do this all the time. A glider getting back in the air should make us all happy. Find a local buyer and it is good for your club. Everybody wins.

On Monday, October 14, 2019 at 4:56:28 PM UTC-7, wrote:
On Monday, October 14, 2019 at 7:23:48 PM UTC-4, wrote:
I'm working on the sale of a glider from a deceased club member for his estate. The estate has no idea how to sell a glider and what level of effort is involved. What is a fair brokerage fee (percentage) to handle the transaction for them? I plan on putting the glider on several websites and marketing it locally. I'll be handling inquiries, showing, the sale and paperwork to transfer ownership. Obviously I'm not a professional broker, just trying to help them but they have asked what a fair fee would be.

I have handled a couple and have treated them as a favor to my deceased friend.
FWIW
UH

Only you can decide if it is appropriate to charge a fee or not, but the idea that selling a glider will take an hour or so of your time is just plain wrong. Been there, done that. Just setting a fair price will take a substantial amount of research, especially if you are unfamiliar with the glider, because sales are few and conditions vary significantly. When I sold my DG400 the only buyer that was interested was in Brazil - this was the most difficult sale I have ever been involved with. By way of reference, Rex Mayes charges 7% to do this.

Tom

Doing it as a favor to a friend, a club, or the sport of soaring is admirable. I did it once that way and was happy to. I knew the seller and they knew and trusted me. But it can involve a considerable amount of time and effort, especially showing the glider to interested parties and helping them with the paperwork.

An estate sale is a different matter. The reason to charge a modest fee to the estate is it incentivizes the agent to get the best price. I'm sure most soaring folks would do a reasonable job anyway. But for a few percent, the estate will feel more confident they're doing the right thing and (as important) they can demonstrate that if asked later. Awkward questions could include: will the "agent" go to the same effort as he/she would if it were his/her own sale? And: might the agent be motivated to give someone a little better price because they're a friend or are deserving? Estate administrators/executors are legally bound to do what's in the best interests of the estate's beneficiaries and can be held personally liable if they don't. And for that reason, I wouldn't expect them to be open to donating the glider, no matter how worthy the recipient, unless the beneficiaries are all on board.

Listen to Ed Kilborne's "The $65 LS-4" for an example where selling a glider for free backfired.

Chip Bearden

I don't take the below personally, in fact I think it's good advice.Â*
But I never said the agent should donate the glider, I said he should
see if the estate would be willing to donate the glider. If that is,
indeed, the case, he could get written confirmation from the executor.

On 10/15/2019 10:43 AM, wrote:
Doing it as a favor to a friend, a club, or the sport of soaring is admirable. I did it once that way and was happy to. I knew the seller and they knew and trusted me. But it can involve a considerable amount of time and effort, especially showing the glider to interested parties and helping them with the paperwork.

An estate sale is a different matter. The reason to charge a modest fee to the estate is it incentivizes the agent to get the best price. I'm sure most soaring folks would do a reasonable job anyway. But for a few percent, the estate will feel more confident they're doing the right thing and (as important) they can demonstrate that if asked later. Awkward questions could include: will the "agent" go to the same effort as he/she would if it were his/her own sale? And: might the agent be motivated to give someone a little better price because they're a friend or are deserving? Estate administrators/executors are legally bound to do what's in the best interests of the estate's beneficiaries and can be held personally liable if they don't. And for that reason, I wouldn't expect them to be open to donating the glider, no matter how worthy the recipient, unless the beneficiaries are all on board.

Listen to Ed Kilborne's "The $65 LS-4" for an example where selling a glider for free backfired.

Chip Bearden

--
Dan, 5J

On Monday, October 14, 2019 at 4:56:28 PM UTC-7, wrote:
On Monday, October 14, 2019 at 7:23:48 PM UTC-4, wrote:
I'm working on the sale of a glider from a deceased club member for his estate. The estate has no idea how to sell a glider and what level of effort is involved. What is a fair brokerage fee (percentage) to handle the transaction for them? I plan on putting the glider on several websites and marketing it locally. I'll be handling inquiries, showing, the sale and paperwork to transfer ownership. Obviously I'm not a professional broker, just trying to help them but they have asked what a fair fee would be.

I have handled a couple and have treated them as a favor to my deceased friend.
FWIW
UH

Selling airplanes or gliders can be a pain in the ass sometimes. I wouldn't at all be shy to ask the estate to compensate a small fee to cover your time and expenses.