How to Start As a New Seller on Our Digital Marketplace
If you clicked on this post, you’re either looking for how to start on OPENLANE as a seller, or how to become a successful one. Below, we’re going to cover both for you in 6 steps.
Step 1: What to know before sign up
Your dealership’s owner or officer must start the process on behalf of the dealership; this involves filling out a few forms and adding additional users. If you aren’t the owner or officer, we recommend you loop them in first.
You also need an AuctionACCESS ID. If you need more information on what an AuctionACCESS ID is, you can find that here.
Step 2: Signing up
All set? Click the blue sign up button in the center of the website, and start the online sign up process. You can also access it at the bottom of this blog.
During sign up, there are several forms you’ll need to fill out. You can either complete them on the spot and submit, or download them, fill them out and then email them to register@openlane.com.
Keep in mind, the Power of Attorney, British Columbia, Broker form must be printed, signed and then sent back to us. It cannot be completed online.
We’ve outlined all the forms needed below, but don’t worry; not all of them are required to access our digital vehicle wholesale platform. Some are only mandatory for dealerships in certain geographies.
Required:
- Terms and conditions
- Auction Policies
- OL QST (Quebec dealerships only)
- OL GST (Non Quebec dealerships only)
- Direct Debit/EFT Registration
- Power of Attorney, British Columbia, Broker
- Power of Attorney, all other provinces
- Simply Sell Guarantee (only required if we image your vehicles)
Optional:
- Floorplan Partnership Request
- BC PST Tax Exemption (BC Dealership only)
Step 3: Creating a Username and Password
During our sign up process, you’ll be asked to create a username and password. You’ll then have the ability to browse inventory.
Step 4: Getting approved
Once you’ve sent or submitted the required documents to us, all you need to do is wait for verification. In most cases, you will be activated within 24 hours once you submit all the forms and finish signing up.
Once verified, you’ll be all set to start using our digital marketplace.
Step 5: Get to know our sale types
OPENLANE is choose your own wholesale adventure. We have different sale types for different schedules, all on one digital marketplace.
Becoming familiar with each sale type is how you can figure out which you’d prefer to try first. This will help you more easily and efficiently decide on your exit strategy for each wholesale vehicle. Perhaps you’re on the go on Tuesdays, and want the power to sell anytime, anywhere. In that case, you may choose our digital 45-minute auctions.
Maybe there is a day where you have limited time to get online at all. You may prefer DealerBlock sales during that time — because on DealerBlock, you can turn on our Buy Now feature, which allows a buyer to leapfrog the bidding process and buy your vehicle outright immediately.
The videos below on our two main sales formats are a great place to start, and cover how to sell on each sale format. They’re under three minutes, because time is money.
Step 6: Best practices
Following our best practices can help you close deals faster, gain buyer trust, and more. If you’re interested in learning more selling tips, you can check out our full Best Practices blog post.
Set up notifications
You can choose which notifications you want to switch on, and can change them at any time in your settings. There are a wide range of options — like “Vehicle in Closing,” and reminders when you need to reply to a potential buyer. They keep you looped in on important marketplace activities that can make or break a sale.
Be transparent
We cannot stress transparency enough. Bidding in an online wholesale auction requires some level of trust. You can maintain it with your buyers by using proper disclosures, and calling out anything they may want to know or that could impact how they might value the vehicle. Remember: no surprises = happy buyers, and happy buyers are repeat buyers.
We also take this seriously, and not disclosing vehicle information can result in a lengthy and costly arbitration.
Remote Repping
If selling on Simulcast, represent your vehicle by using our Remote Repping feature. When using this feature, a chat box pops up, and you can communicate directly with the auctioneer.
Overall, it facilitates stronger communication between buyers and sellers — with the auctioneer being your middle man. You can answer a potential buyer’s questions, negotiate, and more. It can turn a no-sale into a return for your business.
Determine a realistic floor price
Setting realistic floor prices shows buyers that you’re committed to selling your vehicle. It can increase the likelihood of a sale, and also builds a better reputation for you as a seller.
If you’re looking to buy and sell, check out our quick guide to getting started as a buyer.
Ready to make wholesale easy? Sign Up Now
For any questions, give us a call and one of our team members will be happy to help.
888-260-4604
Monday – Friday: 7:00 a.m. – 8:00 p.m. ET
Saturday: 9:00 a.m. – 6:00 p.m. ET