How to become a lease broker

Off-Ramp
54

I dislike everything about this :slight_smile: But, you’re young, hungry, and powered by monster, so if you like it that is all that matters.

As @jananth1 said, having calls at 1:30 is not what it takes to be successful. All this is doing is setting improper expectations and letting clients know they can do whatever they want, which is not good in any business. Expectation management is an important part of any customer facing role and the customer is not always right. However, as experts in any craft, a big part of the role is to guide them to the right decision in a professional and friendly manner.

Once you do something like this, you’re giving this prospect the keys to the castle meaning, they think they can contact you anytime of day/night. That is not a way to be successful long term.

If people value your services and what you do, they will work with you on a more reasonable schedule. If not, it’s OK to pass on them.

Posts like this make it sound like brokers are doing Gods work. They (we) are not. It’s a car after all. If it’s there at 130 in the morning, it’ll be there at 8AM the next day.

Also, I think it’s important to define success. Success, at least for me, is not defined by getting every single deal out there at the expense of my family, sanity, etc…

It’s being a trusted advisor to those who value my services and finding the right balance of when it’s time to work and when it’s time to disconnect (this is the hardest part of any job with a sales component)

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55

You want your M550i or not. :upside_down_face:

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56

I think one of the tried and true ways people here started brokering cars (or at least thinking that they broker cars) is by calling someone who is already established, and pretend they’re interested in buying a car from that person. Then they waste that person’s time for about an hour and a half trying to learn the ins and outs of how that person does business. Then they pick a brand that they feel is under-represented on this forum and contact every dealer around them to see who is interested in dropping their pants the furthest. All of a sudden, BAM, LLC gets formed and phone numbers start slinging. Can name at least 3 people in this forum who have done that.

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57

Very long, read some.

I think this is what a lot of young, motivated people do in their respective fields. I was guilty of similar things, taking extra shifts, working late and what happens is what you said- you don’t become valued, you actually become abused and taken advantage of.

My advice from a different prospective is the same- set some reasonable boundaries. When I reached out for a quote- I am respective of the time and day.

The other point, however, is everyone has their own value of time, money and dedication to their customers/clients, and one shouldn’t be shamed for the efforts and sacrifices they make to do what they think is right for everyone.

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And this does not mean that’s the right way to run business. Boston is right.

59

Love this thread. Anyone can do this. He’s right. Lease brokerage, in general, is a low-skill, high-hustle job.

But the thing is, LeaseHackr’s customer base is no joke.

I can without a doubt say that some of my LH leads have been some of the cheapest, stingiest, manipulative, controlling, and self-righteous people that I’ve ever come across. Some people lie, cheat, and steal over $10/month.

It’s not the majority that you see represented on this community, more in the lurkers and friends-of-friends, but if you get a few dishonest people texting you 24/7, then skating you over $100, and it will discourage the average Joe Broker and slowly grind you down.

Most of my customers are excellent people, but make no mistake, some real motherfuckers have come into my sales pipeline via LeaseHackr. It seems like the cheaper/better deal I have on offer, the volume of assholes that want the LOWEST price go up. And if I only have lukewarm deals listed here, the leads stop coming in.

Anyone can get started easily but if you don’t have extremely thick skin, a shit-ton of time, and strong business experience/accumen, you will get railed and eaten alive by this customer base. It’s just like working retail except the worst-case “I Demand to speak to the manager” people are inside your house, inside your phone, 24/7/365.

I show my friends and family my phone, full to the brim with text inquiries on new Hyundais, and they all think I’m a masochist for it.

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60

I agree, I’ve learned my lesson in my field and I would caution others the same.

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61

Isn’t all brokering contacting dealers to see which ones are willing to work with you too have a standard discount. This standard discount and your ability to drive attention to said deals helps the dealer reach tiered goals? If someone sells a number how does it affect you if you offer your customer true end to end service?

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62

For sure. I am not shaming anyone for what they do.

I am providing advice on what it takes to create a sustainable business model in the long term.

Some people put money at the top of their list of priorities. For me, it’s family, but I don’t look down on those who choose money. Everyone needs to do what is right for them at the time.

Like you stated, it is easy to become de-valued when you only say, “yes,” to everything and never manage expectations or manage up appropriately.

I think (hope) Hershey would be the first to tell you that I have always been supportive and encouraging of him getting into this. I have tried to help at least 5 people on this site, some previous clients even, start in this business.

We all need to begin somewhere. For me, it was finding this forum, and getting my first Jag PIN.

I have developed some tremendous relationships with members/clients on this forum and will be friends with these folks for the long haul. Like with any business you take the bad with the good. As long as you can mentally let the good outweigh the bad, it’s a net positive.

I meet/work with more awesome people on LH than those I don’t care to do business with. That is one of the many reasons that makes this all worth it for me.

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63

I am curious to hear whether you think it has gotten worse since Covid.

64

Right back at ya! :slight_smile:

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65

I read the comments and threads here and can agree you are respected and are supportive of everyone as well.

It wasn’t a dig at you. It was more about @ethanrs making a Xmas late night delivery. I think I would have done the same earlier in my career, now, I would have a hard time doing that but I would not ridicule someone else for it, Whether it made $200 bucks or $10,000.

I think if people like @HersheySweet and others want to show their dedication to their clients and want to set boundaries, they need to be very clear on their hours of service, in your pages let the customers know that you will not answer texts, calls or emails after and before a certain time. Customers will take only what you give them and they will value your time only as much as you value yours.

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66

Some business “accumen [sic]” lol

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Woops, I made a typo. “acumen” with one ‘c’. Thank you for catching!

Make no mistake, 90%+ of customers are great, but the bad ones are particularly nasty in this game. Not naming names or anything but I’ve seen some real shit on both the customer side and the dealer side. Both sides have good players and bad players.

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68

Nah, that wasn’t my point :slight_smile:

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69

Oh, I got your point.

Business acumen and nice-guy customer service are not the same thing.

I take the best care of honest customers and honest dealers. But I’m not afraid to tell someone to pound sand that deserves it. Customer is definitely not always right in this game.

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70

The customer is always right!

And I don’t know if it’s wise to openly say “F the customers” even if your just talking about a minority of them in a customer filled forum.

But when you have enough customers, I guess you can pick and choose- that might be the business acumen you were referring to.

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72

I know you didnt ask me :slight_smile: and I would need @michael to confirm the traffic data, but I suspect the forum has seen massive gains in its user base this year. One of the reasons can be attributed to so many people being/working from home and having more time on their hands.

In general, the influx in traffic will bring more deals, and also more kickers.

73

Ah, shush!