The National Aircraft Resale Association (NARA) said its broker and dealer members now account for half of the pre-owned business jet transaction market, even though they represent just 5 percent of the more than 1,000 aircraft brokers worldwide. According to data from JetNet, the pre-owned business jet market turned over $9.5 billion in inventory last year.

Since NARA was founded more than 25 years ago, “We have not only survived multiple economic challenges, but our broker and dealer membership continues to dominate the pre-owned business jet sales market,” said NARA president, chairman and CEO Johnny Foster. “The NARA website consistently showcases more than 400 NARA aircraft listings, as well as our new video to educate aircraft buyers about the advantages of working with a NARA-certified broker/dealer.”

NARA was created because there are no license requirements to conduct aircraft transactions, so :it can be difficult for aircraft buyers to know whom they can trust when it comes to purchasing, selling, financing or maintaining a business jet,” the association said. Member companies must follow a strict NARA code of ethics and its broker/dealer members must pass a certification process, as well as adhere to a continuing education requirement.