How Does the IEDA Help Construction Equipment Buyers and Sellers?
The construction industry is comprised of several different associations, including the Association of Equipment Manufacturers (AEM), the Association of Equipment Dealers (AED) and the Associated General Contractors of America (AGC). Most of these you are probably familiar with, but one that might not be on your radar but should be is the Independent Equipment Dealers Association (IEDA).
So, what is the IEDA, and why should they be on your radar?
How did the IEDA get its start?
Established in 2002, the IEDA was originally formed in an effort to maintain freedom around the globe for those companies looking to buy and sell used construction and mining equipment. At the time, a few large equipment manufacturers wanted to have complete control over how equipment was being imported and exported, and their efforts were beginning to edge smaller used equipment specialists out of the market, a move that could have resulted in lower resell values for sellers and higher prices for buyers. Knowing that they would be stronger together, the founding members of the IEDA established a non-profit association for used equipment dealers worldwide.
Since its inception, the IEDA has evolved into a network of used equipment dealers and organizations that support the used equipment industry and promotes best practices for buyers and sellers.
How big is the IEDA?
The foundation of the association is built on maintaining the highest of standards for its dealer members and preferred associated members.
Every applicant to the IEDA must provide four positive industry referrals, and must be in business for a period of at least two years. In the transportation/logistics area, only asset based haulers are permitted to become Associate Members once their referral component has been met. In abiding by strict membership standards, the IEDA’s Board of Directors can ensure every member properly represents the mission of the association and helps build and maintain trust with buyers and sellers. IEDA members know that when buyers and sellers feel like they are being treated fairly, they will seek out an IEDA member the next time they have equipment needs and are more likely to refer others.
Today, the IEDA network includes more than 200 members worldwide.
What are the advantages of working with an IEDA member?
The group is committed to supplying customers with the best service before and after the sale. IEDA members frequently meet to discuss best practices and the current state-of-the-industry. There is also an annual meeting for IEDA members and associate members that includes educational sessions and networking opportunities. These initiatives help ensure that you, the customer, are working with knowledgeable individuals, who are up-to-date on your needs and other factors that impact the industry.
IEDA members also work with each other — when you’re looking for a particular piece of machinery, your local IEDA dealer saves you time by reaching out to the association’s global network for help to find exactly what you’re looking for. IEDA associate members can then help you with pre and post sale services such as transporting and financing your purchase. And, if you have an issue with a deal you made with a member, the IEDA has an advisory board that will help you settle any disagreement quickly.
How are IEDA members different from other used equipment sources?
While some IEDA members may offer new equipment sales, IEDA members primarily focus on buying and selling used equipment. And, there is a clause that prevents any member from having a relationship with the world’s top five equipment manufacturers – Caterpillar, Komatsu, Volvo, Case and John Deere. Why is this important? This helps to ensure the membership’s number one priority is used equipment — which means you will get the level of attention that is often reserved at other distributors for contractors buying brand new machines. That’s how IEDA members differ from some of the big dealerships, but there are also advantages over other used equipment sources.
- Auctions — You can inspect, ask questions and in many cases also demo a machine before you buy.
- Online listing sites like ebay.com craigslist.org — When you’re buying equipment, you need to trust the seller. It’s hard to get that from sites where fraud and scams are a common occurrence.
- Other non-IEDA used equipment dealers — If something goes wrong with a machine you purchase, do you have any recourse? If you’re looking for something specific, does that dealer have the resources to help you find what you’re looking for?
How to find an IEDA member?
IEDA members have established a used equipment listing page located at IEDAUsed.com, or you can see a list of members on the IEDA membership page.
What type of services do IEDA Associate Members offer?
Associate members of the IDEA include companies that are often involved with the buying and selling process, including service organizations for advertising, auctions, commercial service vehicles, financing, fleet management, freight and logistics, insurance, legal support, market intelligence, parts, software solutions and trucking, as well as web design. Find out more about our associate members on the IEDA Preferred Associate page.