UCW has become a Great meeting place for agencies, lenders and partners, and this year’s event in San Diego was no exception. It was valuable time spent with our DRN affiliates and many other repossession Agencies talking about what’s happening in the industry – especially related to inflation, low recovery rates and the impacts of having fewer Repossession Agencies in the Industry
I’ve noticed repossession business owners are showing up with a heightened level of professionalism and using these gatherings as opportunities for impactful business communication – and UCW was the strongest showing I’ve seen yet. This group is evolving in how it interacts with one another, how it values relationships, and takes full advantage of chances to engage and share perspectives and best practices. It’s been impressive to be part of the growing dialogue among affiliate owners and lenders and watch how their partnerships have developed.
One of the hot topics was concerns over storage, especially challenges of free days and number of days to move vehicles off lots. These are critical factors for repo businesses and with overall costs at a premium, agents are pinched by contracts that include free days since these lessen the incentive for lienholders to move their cars. Our President, Jeremiah Wheeler, discussed this and other pain points on a podcast during UCW, which you can find here.
Our Affiliate Advisory Board Meeting also was a great gathering of agents to talk about what’s coming in 2023, including DRN’s Revenue Share Program. We’re excited to kick this off next year and think it will be a big driver of growth for our agents.
Another highlight of the week was our Great Gatsby cocktail party. We had more than 100 guests join us and it was a great time for more conversations and interactions with agents and partners. And thanks to our guests, we raised $37,000 in a 50/50 raffle – with half going to the Repo Alliance, which helps industry members in times of need. The other half was won by Starr Sawalqah with Alpha Towing and Recovery, one of our great affiliate agencies.
In general, I was happy to see moods high and attitudes positive after what’s been a challenging few years. I look forward to seeing this great group of people again soon.
