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Business advice . What would you do ?

Posted on 3/24/16 at 10:33 am
Posted by doze4
Greens burgs
Member since Aug 2007
1840 posts
Posted on 3/24/16 at 10:33 am
Let's say I purchase bank repo RV's for a living (not exactly what I do, but will work for this scenario). The bank rep that handles sales in the region that I purchase from will not give me the time of day. Won't return my calls or emails. He has his favorite wholesalers who he gives preference to (don't know if they give him kickbacks or what). He has given me some "scraps" over the years, but it's the shite nobody else wants & I pay handsomely for the few I get. I have pretty much been forced to buy from bank reps outside of my area to survive. I put in a bid on one the other day, the guy finally calls me back after 3 days of emails & voicemails & tells me (while sounding disgusted that I have the nerve to bother him), that the rv park owners where its sitting came up with an offer higher than mine (never even gave me a chance to up my bid higher ) . A week later I see the same RV parked on a competitors lot up the road . It's worth noting, I've tried to be overly nice to the guy. Almost to the extent of kissing his arse & it's gotten me nowhere. What would you do ?
Posted by CHiPs25
ATL
Member since Apr 2014
2893 posts
Posted on 3/24/16 at 10:48 am to
Post his contact information on the OT board and let them bombard him with phone calls.
Posted by hungryone
river parishes
Member since Sep 2010
11987 posts
Posted on 3/24/16 at 10:59 am to
quote:

What would you do ?

I would acknowledge that the guy doesn't want to do business with me. Why waste your time/energy on him? Clearly, he has preferred partners for this sort of thing, and it's not you. You have no idea what his relationship is with the preferred dealers; his connections could be anything from family, church, golf buddies, best friends, to having shared additional business interests or the fact that those preferred partners are also customers/big depositors at this bank.

Look at it from his perspective: why should he bother with you? You contact him, it takes him time & effort to repeatedly chase you off. He has made it clear--he doesn't want to deal with you. So move on...you're wasting your time. His object apparently isn't to get the highest price for these assets. You have no way of ascertaining his true objective with these deals.
Posted by LSUAfro
Baton Rouge
Member since Aug 2005
12775 posts
Posted on 3/24/16 at 11:16 am to
quote:

What would you do

Simply put. Move or find a new gig.
Posted by Omada
Member since Jun 2015
695 posts
Posted on 3/24/16 at 11:30 am to
Figure out where he lives/which car is his and slash 3 of the 4 tires. Insurance covers it if all 4 are slashed. He has to pay out of pocket for anything less than all 4. Then pour powdered milk in his front yard right before it rains.

On a serious note, I'd let someone higher up in the bank know and state it may lead to you taking your business elsewhere (if you are currently a depositor and/or lender) or that it discourages you from doing future business with the bank (if you don't do any other business with them currently). The higher ups may also not appreciate his current methods regardless.
Posted by Kingwood Tiger
Katy, TX
Member since Jul 2005
14162 posts
Posted on 3/24/16 at 11:54 am to
He has a boss....contact them
Posted by doze4
Greens burgs
Member since Aug 2007
1840 posts
Posted on 3/24/16 at 12:04 pm to
quote:

Look at it from his perspective: why should he bother with you? You contact him, it takes him time & effort to repeatedly chase you off. He has made it clear--he doesn't want to deal with you. So move on...you're wasting your time. His object apparently isn't to get the highest price for these assets. You have no way of ascertaining his true objective with these deals.






Correct but the bank he works for DAMN SURE wants the most money they can get for their properties regardless of who his "golf buddies" are .
Posted by doze4
Greens burgs
Member since Aug 2007
1840 posts
Posted on 3/24/16 at 12:16 pm to
quote:

Simply put. Move or find a new gig


This is my livihood . I've been in the business for 12 years . Owned my own business for the last 3 . It's what I know. Not to mention , I love what I do.
Posted by doze4
Greens burgs
Member since Aug 2007
1840 posts
Posted on 3/24/16 at 12:21 pm to
quote:

He has a boss....contact them


Thinking about that but wondering if it will only make things worse & the vindictiive bastard then tries to blackball me to the other reps I already have a good rapport with.

One other bit of information, the "competitor" I was speaking of in the origional post happens to be a very good friend of mine (although he is still a competitor) Maybe I can approach him
Posted by GaryMyMan
Shreveport
Member since May 2007
13498 posts
Posted on 3/24/16 at 12:35 pm to
If he's ignoring higher bids it sounds like he's in violation of his fiduciary duties of his job. That's at least fireable, if not against the law. Before contacting his boss I would put together some solid evidence to present.

Another option, if he's just ignoring your offers to buy rather than bids, is to partner up with your competitor and have him start the transaction for a fee. Not ideal.

Is this one bank your largest supply of inventory? Could you get by without their business?
This post was edited on 3/24/16 at 12:37 pm
Posted by kennypowers816
New Orleans
Member since Jan 2010
2443 posts
Posted on 3/24/16 at 12:45 pm to
quote:

This is my livihood . I've been in the business for 12 years . Owned my own business for the last 3 . It's what I know. Not to mention , I love what I do.


If you've been successful for 12 years, then this obviously isn't hurting you that bad, correct? Why is this an issue now?


quote:

If he's ignoring higher bids it sounds like he's in violation of his fiduciary duties of his job. That's at least fireable, if not against the law. Before contacting his boss I would put together some solid evidence to present.


I agree with this. How large of a bank is this? Even if it is a Mom & Pop local bank, they still probably care about him ignoring higher bids. They probably have a compliance and/or audit group that would love to get a whistleblower call about exactly this kind of thing. I'm not saying you should jump directly to that, but it may be something you want to consider. Just make sure you back up any allegations with facts.
Posted by GFunk
Denham Springs
Member since Feb 2011
14966 posts
Posted on 3/24/16 at 1:11 pm to
quote:

doze4
quote:

Let's say I purchase bank repo RV's for a living (not exactly what I do, but will work for this scenario). The bank rep that handles sales in the region that I purchase from will not give me the time of day. Won't return my calls or emails. He has his favorite wholesalers who he gives preference to (don't know if they give him kickbacks or what). He has given me some "scraps" over the years, but it's the shite nobody else wants & I pay handsomely for the few I get. I have pretty much been forced to buy from bank reps outside of my area to survive. I put in a bid on one the other day, the guy finally calls me back after 3 days of emails & voicemails & tells me (while sounding disgusted that I have the nerve to bother him), that the rv park owners where its sitting came up with an offer higher than mine (never even gave me a chance to up my bid higher ) . A week later I see the same RV parked on a competitors lot up the road . It's worth noting, I've tried to be overly nice to the guy. Almost to the extent of kissing his arse & it's gotten me nowhere. What would you do ?



Let's eat this elephant a bite at a time. Not knowing much about your biz so I apologize if some of the advice I'm offering seems elementary to you.

quote:

Let's say I purchase bank repo RV's for a living (not exactly what I do, but will work for this scenario). The bank rep that handles sales in the region that I purchase from will not give me the time of day. Won't return my calls or emails. He has his favorite wholesalers who he gives preference to (don't know if they give him kickbacks or what). He has given me some "scraps" over the years, but it's the shite nobody else wants & I pay handsomely for the few I get.


This seems like the first paragraph of your thought (the return button is your friend, m'friend). Having said that, I want to ask you some questions:

1.) Are you a customer at this person's bank? Do you have any way to give him ancillary business-on any level-that starts with the basics...like personal checking. Business checking. Maybe some installment loans? Does this guy's employer offer competitive auto loan rates or HELOC's, etc? If you're self-employed, do you have a business account with them? Maybe BLOC that you can start with them?

The first thing's first. I'd try to establish my own personal or business relationship with him before I just whined about the fact that he won't give you business. Most profit partners in biz are profit partners because business flows in multiple ways and money is made through multiple channels.

Becoming his customer on a personal or professional level may just go a long, long way to earning some business back from him.

quote:

I have pretty much been forced to buy from bank reps outside of my area to survive. I put in a bid on one the other day, the guy finally calls me back after 3 days of emails & voicemails & tells me (while sounding disgusted that I have the nerve to bother him), that the rv park owners where its sitting came up with an offer higher than mine (never even gave me a chance to up my bid higher ) . A week later I see the same RV parked on a competitors lot up the road .


Why not call the guy up and begin a dialogue with him. Don't mention specific stuff, but ask him flat out what it will take to get MORE of his business. You can't curse your blessings in business. You've got to count them. So you need to express praise for the business you have gotten. But you need to make it clear that you want to do business with someone locally in order to earn your living and you'd like to know what you can do in order to earn that living while doing business with HIM, personally and professionally?

Frankness and openness seems to cut through the BS of inferred unhappiness or implications someone doesn't like you because they don't treat you as a potential business partner importantly.

quote:

It's worth noting, I've tried to be overly nice to the guy. Almost to the extent of kissing his arse & it's gotten me nowhere.


If you've gotten to the point where you're trying that hard, you may be trying too hard. Clients-especially potential B2B ones-can smell that from a mile off. Be yourself. Do what you have to do, but don't come off as ingenuine. I'd rather be blunt than fake has always been a good motto for me.

quote:

What would you do ?


If the previous advice hasn't worked, I'd put effort into figuring out his org chart where he works. Find out who the folks are that are in charge there. Then I'd approach them about bringing business to them in any way-and in any amount-possible.

If this business is important to you, then let them know what its worth to you. If the person won't listen on a peer level, go to the management and express how important the business is to them. But whatever you do, DO NOT COMPLAIN about the guy you're having an issue with.

In fact, be nothing but professional, courteous and complimentary of him. This way, if his higher up comes back and asks him about you, if he trashes you, the higher up knows you were ethical and courteous, and this guy has some sort've axe to grind.

Good luck, Bro!
Posted by baobabtiger
Member since May 2009
4719 posts
Posted on 3/24/16 at 1:46 pm to
Guarantee him a cut on the side. It's always about the money.
Posted by LSUFanHouston
NOLA
Member since Jul 2009
36987 posts
Posted on 3/24/16 at 1:52 pm to
So you have a potential customer that has decided to do business with another vendor. Is that the gist of this?

I'm assuming you are independent and not forced to work with this bank. So, go find other customers.

I'm not really sure what you are asking for. You think he should be forced to do business with you because...?
Posted by matthew25
Member since Jun 2012
9425 posts
Posted on 3/24/16 at 11:33 pm to
As someone said, the bank has a fiduciary duty to get the most money from foreclosures.

The bank has a board of directors that meets at least quarterly. Show up with your evidence. Then, the BOD has the fiduciary duty to obtain the most money, or their D&O insurance carrier will be on notice to expect a large liability claim to pay out.
Posted by LSUFanHouston
NOLA
Member since Jul 2009
36987 posts
Posted on 3/25/16 at 8:44 am to
quote:

As someone said, the bank has a fiduciary duty to get the most money from foreclosures.


100 percent agree, but the OP better damn well be sure of his facts.
Posted by Iowa Golfer
Heaven
Member since Dec 2013
10229 posts
Posted on 3/25/16 at 9:03 am to
Thinking about that but wondering if it will only make things worse & the vindictiive bastard then tries to blackball me to the other reps I already have a good rapport with. (I'd continue to think longer term, as you are here. He is a bank employee, so consequently, he is temporary. You are a business owner, you are planning to be permanent)

One other bit of information, the "competitor" I was speaking of in the origional post happens to be a very good friend of mine (although he is still a competitor) Maybe I can approach him (Perhaps a better approach)

I've had similar situations with banks and insurance companies. Without getting into minutiae, I'm still doing what I do, where I do it at. They gone. A bank replaces a monkey with another monkey eventually. A robot, with another robot.
Posted by fillmoregandt
OTM
Member since Nov 2009
14368 posts
Posted on 3/25/16 at 9:11 am to
Turn him in to the state banking regulator for ethics violations
Posted by baldona
Florida
Member since Feb 2016
20381 posts
Posted on 3/25/16 at 1:33 pm to
Is this something that there are public records of sales? Like a home or auction records?

If you can keep a record of your Bid and what the item sold for, its pretty easy to then send an inquiry to said banker and his superiors and ask what you are doing wrong to not win.

Are you looking to make the purchase wit financing and someone else with Cash? That easily could be it, as cash is a more guaranteed close in Real Estate.
Posted by 756
Member since Sep 2004
14852 posts
Posted on 3/26/16 at 7:48 am to
quote:

He has a boss....contact them


He may be taking money under the table and I am sure his boss would love to look into the matter

IF the boss gives you the cold shoulder--Move on. You are not their business profile
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