The National Aircraft Appraisers Association (NAAA) is inviting you to own and develop your business in the Aviation Industry on a Part or Full Time basis (with the assistance of the NAAA).
The NAAA provides its members with the methods, manuals, materials, software application and database support enabling them to build a very interesting and profitable business in the aviation industry.
You may have some concerns regarding the start up of your own aircraft appraisal business and we would like to respond to a few questions frequently asked.
Q. What are the qualifications and background required to be considered for NAAA membership?
A. There are three ways you may qualify to join NAAA. The first requires a minimum of an A&P Certificate with 2 years of working experience (school does not count for experience). Next, if you are a pilot you must have at least a Commercial License, Instrument, and Multi-Engine Ratings with a minimum of 1,500 hours total time and 500 hours of multi-engine time. Applicants with a combination of A&P and Flight Ratings may require fewer years of experience as an A&P and fewer total flight hours. Finally, if you are an aircraft salesperson who has been employed by a recognized sales organization for at least 3 years you may apply. An offer of proof of employment in writing is required.
Q. How much cost or capital is required to get going?
A. There is a one-time charge of $600.00 for the three appraising software applications. In addition there is an annual membership dues of $750.00 per year. However, most members provide the NAAA with their credit card information and the NAAA bills their annual membership dues monthly at $65.00 per month. Other expenses to consider will be some basic business printing and mailings to prospects in your area. Your out of pocket expenses are minimal and with an average appraisal fee of $750.00 two appraisals should normally return your initial start up cost.
Q. What are the three appraisal software applications?
A. There are three NAAA software applications for appraising aircraft.
Appraise 2000. This application enables NAAA members to appraise over 7,000 years, makes and models of fixed wing aircraft.
Helicopters 2000. This application enables NAAA members to appraise over 1,200 years, makes and models of helicopters.
Homebuilt 2000. This application enables NAAA members to appraiser over 950 years, makes and models of homebuilt aircraft.
Q. I've never been in business before and I don't want to give up my present position until I know I can afford to. Is it possible to begin appraising aircraft on a part time basis?
A. Yes, many of our members start out part time appraising aircraft on weekends and evenings. Then, after developing a client base they go full time.
Q. What's the difference between an appraisal performed by a member of the National Aircraft Appraisers Association and an appraisal performed using one of the aircraft price guides?
A. The differences are enormous and to answer this question would take many pages. Briefly let us use this analogy. Aircraft price guides are published, marketed, and distributed by book publishing companies. They do not appraise aircraft. They do not even gather or generate their own data. Rather, they send a questionnaire every 3 months to subscribers of their books, typically aircraft brokers and dealers, and ask a few questions that at best are vague. From these questionnaires the book publishers generate their database.
An interesting point to consider is this. Nowhere on these questionnaires do the price guide book publishers request information regarding:
The aircraft's damage history.
Engine or airframe modifications, if any.
Make and model of installed avionics and if there were any Avionics upgrades.
Physical condition of the airframe including surface corrosion, etc.
Inspection status of the aircraft. For example, the aircraft may have been out of annual inspection for some period of time, or there may be Airworthiness Directives and/or mandatory Service Bulletins which have not been complied with.
Props and time since overhaul.
Engine overhaul status. For example, was the engine field overhauled to FAA overhaul service limits or overhauled to factory new limits, or was a new or remanufactured engine installed.
Condition of de-ice equipment, instrumentation, and other systems and components.
It is truly a mystery how one could generate an accurate database of aircraft values without any information regarding the condition of the airframe, make and model of avionics, damage history, airframe or engine modifications, and all of the other important value points listed above. The National Aircraft Appraisers Association is the only organization in the world that considers all of these factors in its database. Additionally, all of the information the National Aircraft Appraisers Association uses is verified by its members who have physically evaluated the aircraft, and each Association member subscribes to the same evaluation criteria while performing the appraisal. The end result is an extremely accurate database that is verifiable.
Q. Do banks really use Certified Aircraft Appraisals?
A. They most certainly do. There are thousands of banks, government organizations, and other entities across the United States that specify that NAAA Certified Appraisers perform their aircraft appraisals. Every day more others recognize the importance of documenting and knowing the actual fair market value of the aircraft. These organizations consider a Certified Appraisal performed by a member of the NAAA to be the most accurate method available.
Q. What kind of training, if any, is provided by the NAAA?
A. The NAAA has developed two mandatory training programs which we offer three times a year. The first is our Level 1 program that results in the member becoming a Certified Aircraft Appraiser. The second is our Level 2 program that results in the designation as a Senior Certified Aircraft Appraiser. We also offer a USPAP (Uniform Standard of Professional Appraisal Practice) course that offers national recognition as an appraiser. For more on NAAA programs see our Career Opportunities page.
On the Members Only portion of our web site we have an on-line procedures manual, which covers in detail every aspect relating to aircraft appraising. The Aircraft Appraisers Manual contains 6 sections describing the day to day business processes such as office procedures, filing reports, marketing, and how the appraisal process works. This manual provides detailed instructions on evaluating aircraft components, such as: airframe, paint, interior, engines, avionics, props, damage history, airframe & engine modifications, Airworthiness Directives, Service Bulletins, Service Letter compliance & inspection status, etc. Additionally, the NAAA provides the NAAA's Aircraft Appraisers Software Operations Manual. This manual describes the functions and operation of each of the NAAA's software applications. The mandatory training programs, online training manual, aviation experience required for NAAA membership, and the appraising software enable all NAAA appraisers to develop an accurate and comprehensive analyses of the aircraft's fair market value.
Q. How long will it take before I begin making money?
A. This, of course, depends upon you and your efforts. However, here are a couple of case histories delineating NAAA member's early success. Donnie Lewellen performed 11 aircraft appraisals within the first 5 weeks of becoming certified. This equates to $8,700 in appraisal fees. Keith Serkes appraised one Cessna 310, two Cessna 441's, one Cessna Citation II and one Piper PA 31 350 representing $4,900 in appraisal fees just four days after becoming certified. Additionally in the next six days of his membership Keith appraised 4 more Cessna 441's and two Mitsubishi MU 2B 60's for an additional $6,000 in appraisal fees. That's not bad, $10,900 in 10 days.
One might assume that these members are in economically strong metropolitan areas. However, Donnie is located in a rural area of the country, which is considered economically depressed.
No one can guarantee you will do as well as these members did. On the other hand, you may do better. However, one thing is for sure. Never has the timing been better for performing aircraft appraisals.
We believe that after you have evaluated all of the opportunities in aviation you will recognize that a long and rewarding future lies ahead in aircraft appraising. We believe this is your opportunity to take charge of your career and put yourself in the eviable position where you direct your aviation future.
So carefully review all of the materials we have provided at this Website and let us help get you started.
If you have any additional questions please give us a call at (248) 758-2333
