Developing a Private Vehicle Buy Strategy
When is the Ideal Time to Connect with a Private Seller?
Over the last 11 years, we've worked with hundreds of dealers to build, improve, and grow their private market buying strategies. This has given us unique insights into the best practices to make FSBO acquisition successful in your dealership. In today’s fast-paced market, being proactive and responsive is key. Instead of waiting to reach out to listings, we recommend engaging with sellers quickly and staying engaged. Quick responses to text messages, preferably within 15 minutes, and regular follow-ups are essential in staying ahead of the competition. This approach ensures that you're seen as a serious and committed buyer, ready to make a solid offer before the seller gets overwhelmed by the market. With a commitment to reach out early and a process for solid follow-up, you'll be positioned to make an impactful first impression and stay at the forefront of sellers' minds.
Is Texting, Emailing, or Calling Customers More Effective?
Every customer has different communication preferences, and we've seen that while texting often sees the faster response time, talking to someone on the phone usually nets a better result. Unfortunately, many private sellers have to wade through a slew of scammers trying to lure them into undesirable situations, and texting maintains a level of anonymity that makes it harder to close the deal.
Many times, sending out a text will inspire sellers to pick up the phone and call back to ensure there's a real person on the other side. Calling customers may be the best way to establish trust and a more efficient conversation.
How Frequently Should You Follow Up with Customers?
No matter where a seller is in their journey, it's important to keep yourself at the top of their mind as they consider their options. Even if a seller has turned you down, it doesn't hurt to follow up several days later to see whether or not they've had luck or are willing to reconsider. Follow-up every 4-5 days, checking to see if the vehicle is still listed for sale, see where they're at, and offer industry advice. Gently letting a seller know that their asking price is way too high may help them understand why they're not getting the offer they want and make them more willing to work with you.
At Vehicle Acquisition Network, our mission is to empower private vehicle acquisition specialists with the tools and strategies needed to excel in the digital age. With our end-to-end dealership inventory platform and expertise in inventory management for dealerships, we're here to support your success in private vehicle acquisition.