The difference between average salespeople and good ones is staggering. Average reps hit their quota —most of the time — while good ones don’t just consistently hit, they have blow-out months and quarters. When liquidating old inventory and closeouts, good reps earn their prospects’ admiration, loyalty, and referrals. They skillfully handle objections from closeout brokers and overstock buyers and preemptively surface concerns to make them disappear. If you want greatness, good news. Following these rules of good closeout brokers will help you become one of the top-selling salespeople on your team — or even company. If you want to clear dead inventory from your warehouse or reduce warehouse expenses it is important to understand how to best sell overstock inventory to closeout distributors. A simple online search will turn up all kinds of buyers for excess inventory. You can search terms like closeouts, closeout brokers, liquidating old inventory, wholesale closeout buyers and overstock inventory. This will definitely get you started in the right direction and help explain how the closeout process works.
This may seem obvious, but closeout brokers being confident in their product or service can make your customers feel more confident in it, too. The same can be said for how confident you are in yourself. A good salesperson for overstock inventory should be an expert in what they’re selling. Whether your goal is to liquidate Amazon inventory or dispose of old stock in the warehouse, demonstrating that you’re knowledgeable makes you more reputable in the eyes of customers. Good closeout brokers and liquidation experts aren’t quick to give up . It’s a tough profession, but those who are hungry to succeed in selling closeouts will strive toward their goals. Understanding the qualities that a good salesperson has is only the first step, and to become an effective one takes practice. The following list is divided into three sections: selling habits, tips, and life habits good salespeople share. Improve your strategy and become an effective salesperson with these tools. Discontinued inventory is simply a part of running a successful company. There is always the need to keep closeout inventory to a minimum while having enough product on hand to meet customer demand. Companies that buy in bulk often wind up having too much inventory in the warehouse and this ties up capital and takes up too much space in the warehouse.
Low-performing reps let intuition guide them. High-performing reps use a process that’s optimized to move as many prospects as possible from “connect” to “close.” Low-performing closeout brokers sometimes let things slip through the cracks. High-performing reps know the state of every deal in their pipeline, what actions they’ll take next, and when. Closeout wholesalers must pay special attention to detail since it is often the difference between a good deal or a bad one. Liquidation companies that specialize in getting rid of excess inventory try to have the best salespeople on their team Low-performing reps rarely analyze results — because they haven’t been tracking them. High-performing reps obsessively review key metrics and adjust as necessary.
Salespeople for overstock inventory often work independently and have individual sales goals. For closeout wholesalers to be successful, however, everyone must work as a team. Ask your coworkers if they want help, and ask for it yourself when you need assistance. Support each other, and build strong professional relationships that might benefit you in the future. Earn your customers' trust and loyalty by being honest. If you over promise on a product, price or service, you might lose that customer's business or get a bad review. Closeouts are often discounted because there can be an issue with the product (think wrong color, wrong size, poor packaging, etc). Don't promise a better deal than you can offer and you will always meet your customers expectations. If you don't complete a sale, accept it and quickly move on to the next deal. Maintain a positive attitude, and understand that lost deals are part of the closeout sales process. Buying closeouts can be challenging as can selling them, but there is always closeout merchandise available so there will always be another deal. Liquidation inventory is just a part of doing business in todays environment, and closeout buyers understand this. If you are shutting down your 3PL warehouse due to slow moving inventory, you will want an A+ salesperson to handle the closeout process.
This mindset is crucial if you want to learn how to be a better closeout broker or overstock buyer. You must always remember that prospects can’t actually physically harm you. Especially in today’s selling world, where most sales are virtual anyway, prospects truly can’t hurt you. If you’re making a prospecting call and the prospect gets mad, that’s okay. If you’re on a Zoom and the prospect gets annoyed, that’s fine. When selling closeouts the worst thing that can happen is you can get turned down. But remember, there will always be another situation where you can buy and sell closeouts, and there will always be another warehouse shutting down to save money on warehouse fees and dead inventory.
Even if a prospect kicks you out of their home or office, that’s okay, too. They’re not going to hurt you! No matter the selling situation you’re in, there’s no reason to actually be nervous about what will happen. There’s zero risk of physical harm. The worst that can happen is the conversation doesn’t go well and you don't get rid of your dead stock or closeouts. Big deal. If your 3PL warehouse is charging long term storage fees for slow moving inventory, at least you know about it and can continue working on the closeout process to get rid of it. Knowing this is how you become a better salesman (or saleswoman!). Take the pressure off of yourself. Forget about the pressure from your sales manager. Get rid of your nerves. It’s JUST a sales meeting. If you’re selling while nervous, you’re in big trouble. Once you realize they can’t hurt you, you free yourself up to dramatically improve and become a far better salesperson.
Salespeople often work independently and have individual sales goals. For closeout companies to be successful, however, everyone must work as a team. Ask your coworkers if they want help, and ask for it yourself when you need assistance. Support each other, and build strong professional relationships that might benefit you in the future. Even if you have met your monthly sales goals for liquidating inventory, keep working. Schedule meetings, send emails and call prospects after hours if needed. Management notices salespeople who continually exceed expectations. Doing so gives you the best chance at promotions and bonuses and getting rid of more inventory generates more cash for the company. Liquidation buyers are always looking for deals so if you want to sell closeouts just keep pushing and offering more goods for potential liquidation. Big closeout buyers are always in need of building up inventory levels so they can always buy closeouts if the price is right.
The most successful salespeople in the world don’t come across as salespeople. Instead, they carry themselves as experts in the closeout industry who can solve key challenges for their ideal prospects. Simply put, if you’re in the business of selling closeouts, then you’re an expert in whatever you sell. It’s up to you to make sure your prospects know it. While your prospects only see what’s going on at their own companies, you can offer them a valuable bird’s eye view of trends across the entire industry. But do your customers see it that way? If not, it’s because you’re coming off as salesy instead of as an expert. Amazon liquidations and 3PL liquidations are both great ways to sell more inventory and keep the closeout process active with new deals. Don't feel to “need” any deals to go through. There will always be another closeout opportunity and another inventory liquidation to take advantage of.
In all fairness, there may be times when you really do need a sale to pay your bills, but prospects should never be able to tell. When you come across as successful and confident, prospects will believe you don’t need their business. Instead, you’re simply meeting with them because you think your offering will truly help them. Closeouts are only good if both buyers and sellers of the overstock get what they want. Relaxed confidence is attractive to prospects, and an air of success will suggest that you’re an established expert in your field. You’re already an expert in the closeout industry. Now it’s time to act like one. Merchandise USA specializes in buying and selling closeouts and we are excess inventory buyers for housewares, home goods, toys, sporting goods and overstock garden products.We liquidate excess