EP 9:02 How the #1 Car Salesman in the World Maximizes Volume and Gross by Leveraging Auto Brokers for Consistent Success

Millionaire Car Salesman Podcast

In this innovative Millionaire Car Salesman episode, host Sean V. Bradley, CSP delves into the world of auto brokers with special guest Cody Carter, literally the #1 Car Salesman in the WOLRD! Drawing from his extensive experience, Cody reveals the secrets behind his remarkable success, having sold over 1,400 cars in a single year! Join us as Cody shares his insider strategies for harnessing the power of auto brokers to amplify sales volume and gross profit!

Learn about the pivotal role of auto brokers, their motivations, and how they generate revenue. Gain practical insights on building strong alliances with brokers, establishing partnerships with broker-friendly banks, and safeguarding against potential fraudulent practices. With Cody's expertise at your disposal, this episode is a game-changer for automotive professionals looking to maximize their sales potential. Tune in now and embark on the path to unparalleled success in the automotive industry!

Key Takeaways

• Learn to increase car sales volume and gross through the strategic use of auto brokers, going beyond the standard dealership model.

• Discover the importance of setting expectations and terms with brokers to ensure professionalism and avoid potential fraud.

• Understand the diverse ways to sell cars, with a focus on referrals and prospecting that many salespeople overlook.

• Uncover the financial impact of broker deals, revealing how they can equate to substantial monthly earnings.

• Gain insights into CRM strategies and customizing relationships with brokers to efficiently manage and grow sales.

About Cody Carter

Cody Carter has been in automotive sales for the last 10+ years and has earned himself the title of #1 Salesman in the Nation. He currently is the Internet Sales Manager at Tustin Toyota with his own Toyota webpage, Cody’s Tustin Toyota, and platform, SellLikeCody. Cody took initiative and drove his own personal traffic to his website retracauto.com, his last name spelled backwards, and now is: Cody’s Tustin Toyota. Cody has built his brand, Retrac Auto, and surpassed the rest of the country in car sales! Go to SellLikeCody.com to get access to his exclusive sales training course!

Resources

Dealer Synergy & Bradley On Demand: The automotive industry’s #1 training, tracking, testing, and certification platform and consulting & accountability firm.

The Millionaire Car Salesman Podcast: is the #1 resource for automotive sales professionals, managers, and owners. Also, join The Millionaire Car Salesman Facebook Group today!

Win the Game of Googleopoly: Unlocking the secret strategy of search engines.

The Millionaire Car Salesman Podcast is Proudly Sponsored By:

Dealer Synergy: The #1 Automotive Sales Training, Consulting, and Accountability Firm in the Automotive Industry! We have been building Internet Departments and BDCs for over two decades! It is this experience that has allowed us to develop the absolute best automotive Internet Sales, BDC, and CRM solutions for car dealerships. We have created the most effective training programs and processes. Phone scripts and rebuttals are our specialties, while CRM action plans, strategies, and templates are our expertise! Dealer Synergy will take both your tools and your people to the next level.

Bradley On Demand: Automotive Sales Industry’s #1 Interactive Training, Tracking, Testing and Certification Platform. With over 7,500 training modules, our platform has everything you and your dealership need to sell more cars, more often and more profitably!

Money Mind Mapp (M3): Visit MoneyMindMapp.com for help in revolutionizing your business to help you sell more cars by tracking, projecting, and forecasting your personal sales goals!

Harnessing Auto Brokers for Car Sales Success: A Guide for Dealerships and Sales Professionals

The auto industry is constantly evolving, with innovative strategies emerging to enhance sales performance and customer experience. One such strategy that's gaining traction among car dealerships and sales professionals is leveraging the prowess of auto brokers. In a recent in-depth discussion, industry experts Sean V. Bradley and Cody Carter unpacked the utilization of auto brokers in car sales, providing insights that could revolutionize the way dealerships think about selling vehicles.

Key Takeaways

• Auto brokers can dramatically increase car sales by an average of 30 units a month, with highs of 70 units during peak times.

• Establishing a professional relationship with auto brokers involves setting clear terms, managing expectations, and ensuring a streamlined communication process.

• Utilizing diverse banks and credit unions that work with brokers can offer a competitive edge in the market and help to increase the volume of deals closed.

The Role of Auto Brokers in Modern Car Sales

When it comes to enhancing sales figures and expanding market reach, utilizing auto brokers seems to be a disruptive strategy akin to the innovation brought by Amazon and Netflix to their respective industries. As Cody Carter states, "[Auto brokers] were created out of necessity at one point. And to this day, they still work great in certain markets." By catering to customers tired of traditional dealership experiences, auto brokers offer a streamlined, convenient alternative.

SEO-Optimized Heading: Embracing the Auto Broker Strategy to Revolutionize Car Sales

The discussion highlighted that the average salesperson at a dealership sells ten cars a month. However, with the infusion of auto brokers into one's sales strategy, this number can triple or even septuple. The emphasis here is not just on quantity but on quality; these third-party affiliates help move inventory, particularly less popular models or overflow stock, which could otherwise stagnate on a sales lot. "They allow you to sell cars that are outside your area," Carter pointed out. His collaboration with a diverse range of brokers extends his reach far beyond his dealership's immediate geographical locale.

Direct Quote: "Every broker receives some type of fee, which is discussed… on average, we're averaging $2,500 per copy… averaging $75,000 per month in gross."

This illustrates not only the profitability of broker-assisted sales but also underscores the importance of transparency and mutual respect in these partnerships. Dealerships can adopt this strategy to manage their inventory proactively, cater to a wider audience, and ensure a steady cadence of sales.

Building and Managing Broker Relationships

SEO-Optimized Heading: Cultivating Long-Term Partnerships with Auto Brokers

Cultivating a lasting and fruitful relationship with auto brokers requires a strategic approach—starting with initial outreach and continuing through regular communication and professional rapport. The tenor of the interaction should be firm yet respectful, with clear guidelines set from the outset.

Carter expertly demonstrates this balance with his brokers, setting the tone for how business will be conducted and even going so far as to use a dedicated email service, like Mailchimp, to send detailed and extensive weekly newsletters to his brokers, thus minimizing unnecessary back-and-forth.

Direct quote: "The whole concept…is having ten different stocks for $1,000 each…diversify."

By treating the auto brokers as individual entities that contribute to a larger sales strategy, brokers become akin to an invested salesforce, instrumental in pushing dealership's inventory to their niche markets. Gifts, personal interactions, and consistent engagement all play a part in maintaining strong business relations. Moreover, navigating the space with tech-savvy efficiency, utilising CRM software, and tailoring communication through texts mirror a modern approach to sales management.

The Finer Details of Working with Auto Brokers

SEO-Optimized Heading: Navigating the Complexities of Broker-Enhanced Car Sales

A crucial aspect of working with auto brokers involves understanding the nuances of banking partnerships and avoiding potential fraud. Banks have varying rules regarding transactions with auto brokers, and dealerships must be scrupulous in adhering to these guidelines to maintain integrity and avoid legal issues.

Carter underscores the necessity of choosing banks that are broker-friendly and emphasizes the importance of keeping transactions above board, with a priority on transparency: "It's important to disclose it…you should not be working with this customer at all."

Direct quote: "We don't allow any deal to leave until the car is approved… These brokers are being added to a blacklist where…they're just completely out."

Thereby, dealerships should prudently vet their financial institutions and foster open communication with their brokerage partners. Additionally, they must institute rigid frameworks to ensure that every sale does not just benefit the immediate bottom line but also upholds the dealership's reputation and credibility.

Keeping the momentum generated by the conversation, these deep dives clearly illustrate the potential upsides of incorporating auto brokers into a dealership's sales artillery. Conventional sales avenues remain integral, but the scope that brokers provide can be game-changing, diversifying the opportunities available to savvy dealerships and sales professionals. The strategy goes beyond mere transaction facilitation and delves into the broader symbiosis of building mutually beneficial partnerships that can unfold across regions, stretching a dealership's influence far beyond its immediate area.

The larger implication is perhaps the most exciting: As entire industries pivot towards innovation, it's those like Cody Carter who disrupt the status quo that stay ahead of the curve. For any dealer or salesperson looking to elevate their sales numbers and market penetration, the message is clear—embrace the unique opportunities brokers present, and the rewards can be both immediate and profound.