Always be Prepared and Available by Following-up Consistently
Tom Gregg and David Long discussed the importance of follow-up when trying to acquire vehicles from private sellers during their session at Digital Dealer. They highlighted a common oversight in the industry where dealers engage with a seller only initially and then withdraw, often missing out on potential opportunities. Sellers typically set high initial prices, expecting to negotiate down, but are still deciding whether to raise their expectations.
Gregg and Long suggest that extending the engagement period is the real opportunity. By focusing on consistent follow-up for the first few weeks, dealers can connect with sellers when they are more open to negotiation and genuinely ready to sell. This strategy enhances the chances of a favorable deal, benefiting both the seller and the dealer.