Selling local isn’t THAT scary.
Local transactions (i.e. those outside of eBay, Amazon, Etsy, etc.) can be a scary and frightening experience, yet a very profitable one. Local transactions are great because they allow you to maximize your margins and profit potential, you just need to make sure that you go about it the right way – Here is How,
How Can Local Transactions Maximize My Profits?
No Fees – More Money in Your Pocket! Selling local is great because you save on listing, selling, and shipping fees. Take advantage and create your own listings for FREE on Local Selling Apps like: Craigslist, OfferUp, LetGo, 5mile, Wallapop, etc. These apps are similar in nature to eBay, but require a lot less work and information. Just snap a couple of pictures, provide a brief description, set your price, and provide your zipcode. Once you sell your item you can set up a SAFE MEETING place (more about that below) to complete the transaction – FREE of all transaction fees!
Networking – Repeat Sales! A professional and smooth local transaction can often times evolve into a new business partnership with a reliable and trusted customer that you have already vetted! These customers are likely to buy from you again, especially if you are selling niche products (i.e. antique railroad lamps, vintage video games, high-end designer clothing, etc.). Let the buyer know that you have similar items for sale and feel free to give them your contact info or leave them with a business card that details all the items you sell. Repeat Local Sales + No Fees = Max Profits!
So you’ve created your listing and now someone wants to buy your item. What do you do next?
Finding a Safe Meeting Place – Finding a safe meeting place is very important when conducting a local sale! A great, safe meeting place should out in the open (not in an alley or inside of a house/apartment) and next or close to pedestrian and street traffic. Examples of great places to meet are Starbucks and Walgreens/CVS. Go online or use your smart phone to pull up the nearest store and scout the location. If it meets the criteria, send the address to your buyer and set up a Meeting Time.
Picking the Right Meeting Time – Finding the right time to meet your buyer is also important for conducting a safe and smooth transaction. Try to set up a meeting time when it is still bright outside. If your buyer cannot meet because of other obligations, like work, suggest meeting either early in the morning (after sunrise) or right after work (before evening time). If the meeting time is over a day away send a reminder text or call to make sure that they remember, lessening the risk that you are wasting your time.
Telling/Bringing a Friend– It is always good practice to have a “buddy system”, especially if you are hesitant about meeting someone for the first time in public. There are times where friends and/or family members aren’t available to ride along with you for a meet up. In this case, feel free to text or email a buddy where you are going to be, the name of who you are going to meet, and the time and place.
Bring Change – Make sure to bring change. Remember, most ATM machines only give out $20 bills. Carry around some change in smaller bills to ensure that both you and the buyer get what you are asking for. Many times not having change ends up in shorting the seller or wasting more time by finding a store to break a larger bill.
Take some of these tips to heart, stay safe, and don’t underestimate your local market!