Can you share a sample job description for a fully dedicated (100%) USED EQUIPMENT REMARKETING MANAGER? An ag dealer with a couple of locations. Also, who they report to and what kind of training they will need to be successful in job.
Thanks for the Question. I do have a Job Description I would be happy to share. If you can send me your contact information I will send it your way. I report directly to the Sales Manager and I have a couple of other folks that report to me as well. Formal training is tough.
In my opinion, to be a good Remarketing Manager/Used Equipment Manager you have to understand how to read and react to trends. You also need to be able to forecast trends based on the current environment so you can predict the future. A successful Used Equipment Manager will be able to divorce themselves from the emotions of the sales deal and the evaluation of current inventory. This is a position that has to have discipline! It is very black and white when looking at the data. That being said, they have to understand there is art and science to machine values and each have their place.
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There is not really any training for this position. This is really a “Trial by Fire” learning curve. Each market is little bit different from machine demands and hours of use. The Remarketing Manager needs to adjust to the local market first and then compare to the national market. What did the last X number of units sell for? Then compare data sets to the national market and adjust up or down.
From what I have encountered, the best Remarketing Managers in the business are very analytical by nature and have a high understand of how to structure sales programs and deals. They are a rare breed but they do exist. The best advice I can give is look at the past 2 years of auction data, in house retail data and internet retail Listings data. Compare that to what the current market looks like and start making some assumptions about what will happen in the next 3, 6 and 12 months.
The other key piece of data this position must understand is what is their washout cycle in units and how long does each new sale take to washout. If you can combine the auction, retail and internet data with a clear washout cycle, this will be a very strong foundation for any Remarketing or Used Equipment Manager to grow from.
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