Do you have a throbbing passion and prowess when it comes to cars? Are you a people person? Perhaps you can apply both areas of expertise by working as an auto broker. The field is lucrative and the demand for skilled brokers are increasing due to more and more variations of cars being manufactured without enough manpower to cover distribution and sales of these machines.
There are no specific requirements in terms of educational background when entering this industry. However, working as a car broker requires different local, state, and federal licenses. Depending on which state you operate in, the licensing requirements may vary.
In terms of personality, candidates for auto broker positions should have knowledge of the automotive industry. Although there are no standard curriculum or education guidelines to be an auto broker, you won’t be able to assist clients if you don’t know anything about the industry. Car specifications, brand history, and other pertinent data should be researched. This will give you a foundation related to the automotive business.
If you are new to the automotive industry, it may be best to spend a few years working as a salesman for a car dealership, car buying service or as an intern for a brokerage firm. This will give you insight to the complex business of auto brokering.
Car search brokers are responsible for connecting dealers and retail clients. They oversee sales negotiations of used and brand new cars for clients who do not want the burdens of having to drive to car dealerships and haggling for cheap prices.
Like brokers operating in other industries, auto brokers make money through commissions from sales. Hence the better businessman you are, the more money you take home per year. The average commission for each sale on a car ranges from $500 to $2,500.
Some auto brokers with available capital start and operate their own used car yard. They buy and sell used cars from auctions and trades. This is ideal for brokers with enough experience and capital. Those who are new to the field are probably better off working for a dealership at least until they gain a solid grasp of how the business works.
Traditional auto brokering is a very lucrative market. However, further globalization of the Internet has made web-based auto brokering an untapped goldmine. Many online brokers are reported to be making more money than traditional auto brokers.