999 – Aircraft Appraisals and Valuations with VREF’s Jason Zilberbrand
PROVIDING AIRCRAFT APPRAISAL SERVICE
On today's episode of the show we're joined by Jason Zilberbrand, President of VREF.
VREF is one of two authorized books for aviation, similar to what Kelly Blue Books offers for aviation. They provide software, and then print a book every quarter. VREF is aviation’s most trusted valuation guide and data source since 1994 providing valuations on all fixed-wing aircraft, helicopters, engines as well as a comprehensive reference on all modifications, upgrades and maintenance expenses. VREF is the official valuation guide of AOPA, and the only SaaS cloud-based valuation platform in aviation with over 7000 assets tracked daily.
Jason got started in business through his family, who owned an aviation insurance company in 1994. He was offered to take over the operations of the business of VREF and jumped on the opportunity. He then restarted the software development, rebranded, and rebuilt the company. He continues to build out of passion for the Aircraft Industry. Bringing a 27-year-old company that had no real infrastructure and turned it into quite a business. If you want to build a business super quick, you got to have a really strong web presence.
He is considered an expert in aircraft valuations, appraisals, and aircraft transactions, and his background is diverse with knowledge in technology and aviation. Jason is a true leader in terms of market knowledge and an innovator in terms of conducting business. He has a deep desire to succeed in anything and everything he does. Using out of the box thinking has allowed him to develop strategic and personal relationships within the industry from Aircraft OEMs to high-net-worth individuals
When technology is changing, and nothing happened for years, Jason adapted with the industry. Now, there is talking about alternative power plants, Aircraft are changing. Materials are changing the way that their manufacturers are changing. Having a database that has been built to handle alternative power plants.
If you rely on data to make key decisions, VREF has over 25 years of proven historical data. Jason has improved the system to have information more accurate to the current market with regular updates, which is extremely important in today’s economic environment. He likes to look at how many aircraft are coming out of operation. Paying attention to those numbers because there's a direct correlation to fleet size and active aircraft and operation. And then how many are on the market and how much that data changes day to day really does direct for a lot of it doesn't directly influence the data, but there's definitely a correlation between aircraft values and demand and scarcity. Isn’t it fascinating to see how many planes get removed from active service every day?
Faced with new challenges every day. By taking over a new business, technology changing, markets crashing, finding staff with this ever-changing world. Jason has overcome many obstacles. He was able to recognize a lot of weaknesses, a lot of things over the years that could be done better. With such a small industry, Jason has helped VREF appraise several thousand aircraft, individual and fleet, with values in excess of 300 Billion Dollars
Learn more about VREF and how Jason become the Business Owner on this episode of The Thoughtful Entrepreneur.
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