THE AUTO BROKER

Submitted by Babatunde Ademola Simeon
on 11/29/17

The auto broker is the agent acting as the link between prospective buyers and auto firms or dealers
to help reach an agreement, make auto sales deals or contract. The auto broker activities revolves
around various types of vehicles from Convertible, Coupe, Crossover, Diesel, Hatchback,
Hybrid/Electric, Luxury, and Minivan just to mention a few to motorcycles, trucks and even boats
in some cases. These automobiles can either be fairly used or brand new. The auto broker helps to
keep the chain of interaction between consumers demand and dealer’s supply intact. They make
the process through which consumers purchase vehicles efficient by helping to get the desired
result.
Duties of An Auto Broker
The duties are enormous though it begins with knowing the taste /desire of the consumer /buyer,
to finding the manufacturer or dealer with the best deal taking into consideration the various
options available, to negotiating for purchase, effecting Purchase, to finding the Carrie that has
the transport system in place around the destination of the client to the final confirmation from the
client acknowledging the delivery and of utmost importance satisfaction. Aside the afore
mentioned duties we can highlight the following duties as well.
• Removes direct negotiation between consumers and vehicle dealers or
manufacturers
• Provides the consumer with direct or first-hand information on various vehicle
options and price range.
• Provides updates to consumers about latest trends in the auto industry
• Assist consumers in purchasing their dream vehicles
Path To Becoming An Auto Broker
Auto brokering, as lucrative as it requires a Lot of the first-hand experience in other to guide against
mistakes and wastage of funds. It is of high necessity to gain experience under the tutelage of an
experienced auto broker before setting out and have such people around to serve as mentors or
guide at specific stages. The following are some of the few basic needs although the list is endless
• A brokering license: this involves registering with governing authority in the industry in
Other to show authenticity. This may be subject to renewal
• A good location: this helps to reach out to prospective clients
• Registration with an insurance company: this is to guide against any form of loss
• A good transportation network: this helps to serve prospective clients better
• A good medium of advertisement: this helps to create awareness
• A stable source of starting capital
The following skills are also of high necessity
• Good documentation skill
• Good communication skill
• Good financial skill
Characteristics of A Good Auto Broker
A good auto broker is characterized by the following
• Good understanding of the auto industry
• Good understanding of the client and ability to satisfy them
Why Individuals Require The Service of An Auto Broker
For the following reasons individuals may require the service of an auto broker
• Locating the choice vehicle
Individuals are saved the stress of visiting and contacting different auto dealers in other to
get their desired vehicle when they employ the service of an auto broker
• Negotiation
Auto brokers are trained to be able to negotiate and strike a good deal with the auto dealer
or manufacturer. Most times they are able to arrive at the best price affordable by the client
• Reduced cost of purchase
Most times especially when individuals request the service of an experienced auto broker,
they are able to purchase their own dream vehicles for a lesser cost than they are planning
for because of the existence of the standing relationship between the broker and the auto
dealer or manufacturer
Guides To Picking The Right Broker
Carry out thorough investigation on the broker
• To determine their authenticity
• To determine their level of expertise
• Their relationship with previous clients
• Cost of service to be rendered
Settle for the best among them all

Submitted by Babatunde Ademola Simeon
on 11/29/17

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