Office in a Car Dealership

[b61mack]

I know it sounds good but crunch the numbers. Give him a referal fee, and work out of your own office. I think at 50% in 3 months you will be at each others throats.

 

[VaDwayne]

This part for me wouldn't be so much of a negative, though it is reality. As long as you understand that this is their frame of mind, you just learn to deal with it.

The other part that is missing is yes they want the person to drive off the lot with the car, they (more importantly) want the loan to go through. Insurance is a key piece of that. Never, ever, ever mess up a dealer loan due to insurance stuff. Never cause a loan payout to be delayed by a day, you'll get tossed out on your ears.

Dan

Sounds like you've made up your mind.

First of all, if it's a high end dealer, most people are going to pay cash OR get cheaper money from their bank. Rich people didn't get that way paying car payments.

2nd, the insurance is seldom verified until all of the paperwork is done and the customer is long gone with the car. Insurance is usually verified the next day. If they buy a car on Friday night or Saturday, insurance is not verified until Monday when their agent is in the office.So insurance has very little to do with getting a loan. It has a lot to do with keeping it on Monday though..

I started in sales when I was 25 and ended my career managing one of the biggest Honda dealership in the area, so I know what I am talking about. I was also a finance manager for almost 7 years and I know how it's done.

Don't you think if this was a good idea, somebody would be doing it already?

 

[rudy323]

Just give him a split on your policy fee which you will collect UP FRONT!
Negotiate not paying him a split for business YOU generate on you're own

1. Sit there and write the freebies
2. Try and generate you're own leads
3. ??????
4. Profit

 

[Soaringagent]

Our agency went to the "Tent Sales" here at the stadium in San Diego when 15-20 dealers would come in from around the county and sell.
We would be fortunate to do between 7-10 sales per day on a 3 day weekend. We got out real fast. Not saying it's not worth it. But if your gonna make it you might have to charge a bit more than your normal $50 broker fee.

Do agents still go to the tent sales in San Diego?

 

[Guest]

7-10 sales in 3 day weekend, and you have a problem with that?

Scoot over man, let me in there!

 

[JCK818]

***Update***
We have been doing it for over a month now. THe first 30 days (7days a week), we closed 42 autos with 12 home policies. It seems to be working out.

 

[JCK818]

Wow that is great work. 7 days a week how many hours do you work there..I hope its not 24 hours.
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Oh no, 10-7 on weekdays
11-7 on weekends

 

[alexkane03]

pay him 50 pay your worker 40and keep 10, set up 10 of these and you will be at 100% not my idea its the way thing are. best regard

 

[gambrinus]

***Update***
We have been doing it for over a month now. THe first 30 days (7days a week), we closed 42 autos with 12 home policies. It seems to be working out.

Good For You! Seriously.. I never in a million years would have thought this would work out for you. 54 policies per month is a good amount of production. If you can keep it up for 18 -24 months, you'll have yourself a nice base to work off of.

RW

 

[djs]

Ahh, but now that he is 4 months in, what is the story, including the retention of that first months business?

I've done business like this before and it can be good. I still have clients on the books from it many, many, many years later. I also had a lot fall off in the first 3-6 months. You have to learn to deal with it.

Dan