Professional Community for Car Dealers, Marketing, Advertising and Sales Leaders
As I understand it the Comparative Sales Method is currently exclusive to the real estate industry. In a nut shell it's Comparative Sales that sets the asking price for existing homes. In Automotive the manufactures set the MSRP, much like a homebuilder sets the "starting from" price. In the end it is up to the buyer and seller to determine a mutually agreeable price to seal the deal. Instructing a buyer to comparison shop makes absolute sense to a real estate agent, as they have no ties to the product being sold, translating the instructions over to the automotive space.... that's not so easy. However, the more I think about this the more I believe that we may not have an option, read the statements below to see if you disagree with me-
"As a dealer I feel that I need to stand out in the eyes of my potential customers"
(I think we all agree with that)
"As a buyer I feel that I need to compare the offer's from many dealers"
(Again I think we agree)
"As a dealer I need my customer to shop at my competition to allow me to stand out"
(Who agrees with this?)
The connection between the buyer and the seller is generally controlled by the buyer. In the realm of internet sales I would argue that the buyer is in near complete control. Providing a quote to the buyer only becomes relevant when the buyer has independent confirmation of the validity of the quote i.e. they have received the same information from your competitor(s).
Which dealers are pushing their internet prospect to comparison shop other like brand dealerships?
Are any dealerships utilizing same brand/model comparative sales technology?
If so what are you using?