Like many Canadians around this time of the year, you may be peeking through your fingers as you read your post-holiday credit card statements.
While it’s only the start of February, “spring cleaning” your home may yield several dozen things you can part with – and make some cash in the process.
Free classifieds sites and peer-to-peer marketplace apps – like Facebook Marketplace, Kijiji, Craigslist, and Karrot – are stellar ways to unload items you no longer want or need (eBay is also great but requires you to package and ship the item to the buyer).
It’s a breeze to post a short description and photo of what you have, and you’ll meet up with a nearby buyer for the transaction.
Whether you’re new to this or need some tips to increasing sales, the following are a few ways to maximize profits.
Headlines, photos matter
Make your post stand out from the rest as potential buyers are scrolling through products for sale. Use some eye-catching words in your headline, like “reduced price” or “sealed box” for example.
Use your smartphone to take good photos of what you’re selling. Photos grab a buyer’s attention, so it’s critical to attract shoppers as you’ll no doubt have competition.
Be as detailed (and honest) as possible
Be as descriptive about the product as you can, and be honest about its condition, to avoid frustration during the selling process.
The last thing you want is to meet up with someone to buy an iPad you marked as “mint condition” only for them to walk away when they see a crack in the corner.
The more accurate the info is up front, the smoother the sale should go.
Price it just right
On choosing the right selling price for your stuff, research the going rate for your item to determine a competitive price. Make sure it’s less than retail (yes, even if it’s unopened) to give buyers an incentive to buy it from you, as there is no receipt or warranty (for tech items).
But also “pad” your selling price a little so there’s some wiggle room to come down a bit. Believe me, buyers will want to haggle.
For example, if you don’t want anything less than $200 for your unopened Fitbit, post it for, say, $250, if it retails for $300.
And yes, there will be jerks who offer you pennies on the dollar as they think it’s a garage sale or you’re desperate. Ignore them.
You don’t need to go with the first offer, especially if they’re counteroffering for much lower than what you’re advertising it as. You don’t want to have “seller’s remorse.”
Be sure to solidify the price before you meet up. A buyer may ask for a further discount on the spot. Don’t give into the pressure. They travelled to meet you for the sale, so they’re not walking away. Politely stick to your guns and remind them they confirmed at the higher amount ahead of time.
Post more than once and/or to different neighbourhoods
My favorite online classifieds tip is to maximize your reach, which you can do in two free ways – depending on the platform you post to.
One is to post many listings for the same product, but in a different category. For example, a Bluetooth speaker can be listed in Audio, Electronics, Smartphone Accessories, Home, or Outdoors. Since it’s free, simply copy and paste the text, and perhaps tweak the headline, description, or photos.
You can also post to different nearby neighborhoods on apps like Kijiji. While you’re selecting a specific city or neighbourhood to post your listing, also post to a few surrounding suburbs to increase the odds of your ad being seen.
If you’re desperate to sell, you can pay a little to bump your listing up higher on the page or maybe drop the price if you’re not getting any bites after a few weeks.
Never hold an item for someone
With online classifieds sites, never hold an item for an interested buyer. Always go with a “first come, first served” approach. Why? As you’ll likely experience, there are a lot of flakes out there. Many people will tell you they want the item, but they won’t follow up to confirm – or worse, they’ll be a no-show.
If it’s Monday and the buyer says they can’t meet you until Friday, tell them they can have it on Friday only if you don’t sell it during the week. Fair is fair. A sense of urgency may help you make the sale anyway.
Safety tips when you meet up
Since platforms like Facebook Marketplace and the like are local classifieds sites and apps, you’ll need to meet the person to conduct the transaction. To err on the side of caution, ask to meet in a public place – such as a coffee shop or the doors of a shopping mall – instead of your home. Police stations sometimes have parking lot areas designated for safe transactions between people who are buying or selling items online. Maybe bring a friend along.
Obviously, selling large items (like a couch or big-screen television) is a different story, so make sure other adults are home with you.
Only accept cash (never a check), and have some change ready, to ensure a smooth experience.
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Ask for a good review
Finally, and especially if this is your “side hustle,” your reputation on these platforms is incredibly important as it gains trust from potential buyers.
If the sale went well, ask the buyer for a good review and tell them you’ll do the same for them.
Going forward, if you have several five-star reviews, your chances of selling unwanted items will increase considerably.
– Marc Saltzman is the host of the Tech It Out podcast and the author of the book, Apple Vision Pro For Dummies (Wiley)