Nat'l Dealers: Best Walk-in Purchase

[Hankphenom]

Originally Posted by ahmanfan

Hard to say. If you try and be VERY fair and offer then 75k or whatever, a lightbulb probably goes off and they think ‘heck I’m sitting on a million bucks here!’ And they don’t sell to you at your fair price. So very double edged sword. Sent from my iPhone using Tapatalk

I know a lot of dealers have made killings on walk-ins, but I always had trouble with them. Most people would say, "what would you offer me for these," and you know without a doubt they're just going to take your offer and, even if it's the highest they've gotten so far, use it as a baseline and take $5 more from another dealer. When I set up with Keating, I enjoyed watching his interactions with walk-ins, they could be a real trip. He would say, "Now, if I make you an offer, all you're going to do is take that offer around the room to see if someone will give you $5 more. How about if you go get their offers and come back to me and I'll give you $5 more!" And when he would ask them, "How much do you want?", they would usually say, "I don't know, that's why I'm taking offers." And Kevin would say, "But you're the seller, how are you going to ever sell them if you don't know what you want? How will you know if ANY offer is the right one? Just figure out what you want, and maybe I'll give you that right now and you're done." And in the rare instances when he did float them an offer, he would always add, "keep in mind that offer is only good right here and right now. When you walk away, if you come back we start all over again." Buying can be a funny business, certainly more of an art than a science.