Who was first?

▶ As I mentioned last month, I’ve just sold a Fiat 500 – and as it turned out, I could have done so at least six times! In normal circumstances, that would make me think I’d underpriced it, but these are not normal circumstances; we’re living through a seller’s market like none I’ve ever seen before, and any half-decent car will attract plenty of interest. So who, out of a string of potential purchasers, do you give priority to?

Generally speaking, the unwritten overall rule when dealing with potential purchasers is first come first served. And if someone says they want to view the car immediately – ie. that day or maybe the following day and they seem a serious buyer, it’s basic good manners to let them view before letting anyone else see it. But what if, say, it’s only Monday or Tuesday, and your buyer “would like to come over for a look at the weekend?” Do you really want to put off all other potential buyers over the next four or five days in favour of someone who, remember, is still only offering to “have a look?” They might find another car closer, change their mind about yours, or simply not turn up. Or – and I’m afraid this does happen – they may take advantage of your good faith and use you having ‘saved’ the car to their advantage by making a low offer. Which, because you’ve put off all other potential buyers, they think you’ll have to accept.

I have a twofold approach. First, you need to try and find out how serious someone is; this is called quantifying buyers, and it’s a skill all professional sales staff are expected to master. Clues to look out for include why they need or want a new car, how much they know already about the type of car they’re looking at, whether you think the car you have will suit them and their expectations, and probably most important of all, whether they’ve actually got the funds in place. “I need to sell my old car….” is usually a red flag, irrespective of what ‘but’ comes next!

Then, if they do want to view, you need to firm up the arrangement. If they’re coming quickly that, in itself, is an indication that they’re serious, and you can safely delay others. Get a contact number though, and if they won’t give one, chances are they won’t turn up either.

If, though, they want to come beyond next day, my advice, especially in the current climate, is to say something like “OK, but I do have other interest, and if someone else sees it and wants to buy in the meantime, I will have to let it go, though I will of course let you know if it sells before you come.”

Harsh? Possibly, but it’s fairest all round to your buyers and yourself. You can also, though, sweeten the pill slightly by saying something like; “I won’t, though, be taking any low offers.”that’s true of course – why would you when you’ve got several potential buyers? But as well as suggesting something positive (a greater chance of the car still being available) for them, you’re also delivering an important subliminal message; that they won’t get away with a low offer either…