Originally published in 2011 as part of the Dealership Minds series.
The Successful Equipment Remarketing Strategies series highlights the best practice strategies employed by top farm equipment dealers to promote and sell used equipment. It is brought to you courtesy of Iron Solutions.
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The major philosophy underlying Precision Equipment's strategy in taking trades of used equipment is that the salesperson must recognize that he's the buyer, not the seller.
To turn used machines quickly, salespeople need to ensure the equipment they take in trade is marketable. "What Location Manager Jeremy Marston preaches is, ‘You're not a salesmen, you're an equipment buyer.'" In other words, 'They are buying the equipment that they’re selling. In the case of trades, their goal is not to sell stuff, it's to buy stuff. They need to answer the question: What are our chances of getting rid of it right away?'
For a salesperson to purchase a piece of equipment that’s to be sold, they're required to identify 2-4 possible customers that may be interested in purchasing it. "If he doesn't think it is very marketable, he'll make sure he has a buyer before it's traded in."