EDMresell: A Cost-Effective Program
to Sell Used Equipment
As a dealer, you’re probably always considering how you can get the best price for used equipment. And you most likely want to sell the unit in the shortest period of time. So how do you make that happen?
Basically, it’s a simple process. You, the seller, tell the buyer about it; the buyer shows interest; you negotiate and agree on a price, and everyone goes away happy.
But it is imperative that you provide the prospective buyer with the right information in the best possible way in order for the deal to close quickly, with the least effort, and at the best price. Yet many sellers miss this piece of the resales puzzle. In fact, this is the most overlooked opportunity in the used equipment marketplace today.
So why do so many people mismanage this process? Are you using classified ad publications, online classified websites, auctions, inventory sales or private sales? No matter your advertising venue, you need to exploit one thing: A clear, complete, and accurate description, together with a complete set of good images (and videos!) of the item or items for sale.
And yet …this is where the big mistakes get made, although it’s really quite simple: Effective presentation of your inventory within the current supply and demand dynamic is what will sell your used equipment. On the other hand, poor images, or inadequate descriptions undermine your credibility as a reputable seller. This results in fewer leads. Fewer leads produce fewer offers. Fewer offers mean selling at a reduced price.
At EDM, we know how to improve the quality of the presentation of your items so you can command the best deal, move the item more quickly, and make the most money.
We suggest you personalize the item as much as possible – anything about its history and previous owner can be useful here. Walk-around videos can be very persuasive. A series of excellent photos from various angles will also provide the buyer with good information.
Buying and Selling Farm Equipment Online: The New Way to Increase Your Sales
It’s been a tradition for ag equipment to be bought and sold at local auction, though a local dealer, or in the classified ads of regional newspapers. But now the Internet is now becoming one of the best places to look for agricultural equipment.
As with all things, there are some important factors to consider before purchasing or selling agricultural equipment online. Farm Industry News asked farmers to share tips about how to use the Internet to sell and buy equipment, and here are a few of the most important responses:
Good photos: This means good lighting, sharp images, and a variety of photos that illustrate specific areas of interest, such as tires, chains, wear points, paint and general appearance.
Clean equipment: Believe it or not, a good wash job on equipment can generally produce a 10 percent greater return. Once the equipment is clean, place it in a location like a clean shed on a well-kept property (which is also a great place to take good photos, providing there is enough light).
Price: Price equipment reasonably well. Check current auction information to help determine current market pricing. Remember, though, that in most instances, a buyer is never going to pay the asking price.
Equipment details: The history of the machine is important. Make sure to provide as much – or more --information as you would provide in a classified ad. Also, be sure to provide a way for buyers to contact you with questions.
Ready to start moving more used equipment through your website? Contact EDM today about our effective and reasonably priced resale program.