Quote:
Originally Posted by Don Alm
Just came from lunch with a buddy who bought. A couple of weeks ago he told me he'd like to "get rid of his old clunker" BUT....didn't want to do a Trade-In at a dealership.
I told him how I've sold some of mine "INSTANTLY".
Run ads in classifieds or Craig's List to have prospects phone.
Tell EVERY CALLER to come by at THE SAME TIME! I prefer to use
Saturdays
at 10am
Seems to fit for most prospects.
Now.....the 1st buyer will arrive 15 to 20 min b4 10. I go out to greet him. I tell him a little about the car.....he walks around it.....rubbing his chin.... then asks if I'd "take X$".
I rub my chin and stall around.....waiting for the next buyer to show. Sure nuff, up drives another prospect (about 5 to).....I give him some details. He walks around the car.....rubbing his chin (pondering)
Then potential buyer 3, 4 and 5 come by. I give some info to them and then, I yell out: "First one who's willing to pay X$.....gets it.
Car usually sells right then and there....for a price YOU WANT.......which happened last Sat with my buddy.
I think it's an EGO thing or...."the Spirit of Competition".
Sure beats having buyers come by at different times.
Try it.
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Hi Don,
I wish I knew of your system when I last sold a car (which was quite a long time ago, I have a tendency to drive my cars till they give up the ghost...!).
I'm sure it must work better than the "look at the car at different times" approach.
One way to look at it is the "supply and demand" way...
When, you have a lot of people looking at the car at the same time, you create a situation where there is a lot of "demand" (lots of buyers), but very little "supply" (there's just one car)!
This kind of situation (high demand, low supply), according to the economists, drives up the price...
As usual, it's quite a brilliant approach!
By the way, that's also why, if you want to buy something, it can make sense to run a "wanted" ad. Why is that?
It's because, when you run a "wanted" ad, you turn the tables.
When the sellers are coming to you, you have a large "supply" (lots of sellers), and little demand (just one buyer). In this situation, according to "supply and demand," you can get a lower price, since they're competing with each other to sell to you!
Makes sense, especially if you're going to buy stuff for resale...
If you ever watch any of those "pawn shop" reality TV shows (I sometimes watch "Hardcore Pawn"), you can see it in action... They can sometimes buy stuff for pennies on the dollar. It works that way partly because people are coming to them - they create a situation with lots of sellers, and just one buyer.
Thanks Don, for sharing another profitable and educational story from the "field of battle!"
Knowing about this will, without a doubt, help to skyrocket your profits!
Best wishes,
Dien