Wednesday, August 5, 2009

The "Sales Guy" Experience

I recently had a garage sale kind of a thing at my place. As I was moving out, I was selling My PC, some accessories and some furniture. I posted advertisement in a couple of online forums like Craigslist and a private forum of my earlier workplace. I interacted with a lot of potential buyers and I learnt a few things from the overall experience even though my brother Prasanna helped me in the process with his own wisdom. I would like to share details on how to do some key things, in the process of placing the advertisement to making the actual sale, once you have fixed the price range.

I am not going to talk about
  • How to lie well and sell at high price.
  • General Tips and Tricks on how to make safest deal as you all know that making CASH transaction and that too DIRECT, IN PERSON is the safest. You can take a look at craigslist or some similar sites for more tips.
  • Ascertaining the value of the item
Now, My Wisdom Nuggets:
  • Don't furnish the actual amount you are intending to sell it for. The buyer is definitely going to bargain and never going to settle for the actual furnished amount. Even if you are in urgency and quoting the lowest possible price. Do adequate research and fix a price range. The quote price should be the largest value of the range. This is not a deceiving technique but a necessary step to deal with the buyer's mind set to bargain (Sometimes very irrationally).
  • Don't ever mention that you are in a urgency to sell it. There is a good chance you will be taken advantage of.
  • Take some photos of the items in adequate angles (in case of furniture) or provide as much details (like configuration details in case of computer) and furnish it to the potential buyers as saves time for both you and the buyer.
  • Know that only a very interested buyer arranges for a meeting and visits you to check out the item you are selling. So, Don't ignore them. Give more weight-age to such buyers compared to those who close the deal just over phone.
  • If the item is in warranty, HIGHLIGHT it. If it was bought new, HIGHLIGHT it
  • Always have a strong reason for selling. Make them aware that you are not selling it because the item is defective. (In my case, I had to move away from my place and i could not carry it with me where i was going).
  • Stick to and make it clear to the potential buyer, "First Come First Serve" especially for those who close the deal over phone. As the last minute doubt makes them not buy and you end up loosing other potential buyers.
  • Stick to Spot Payment, Full Payment!
  • Remember: The deal is not made until it is made. Only when you get the full cash in hand, you can consider it a done deal!
  • Give least priority to those who just leaves a comment and never calls. There are lots of people who just quote a price without any intention of buying. If he had any interest in buying, he would have called you.
  • Finally, Have a friend with you while making the actual exchange of the item for money. It helps with your morale while tackling the last minute bargaining.
I am sure many of you are aware of the things i have mentioned . I am interested in hearing from people who have had experience in this and can share more tips from your experience!

Having said all that, it is best when you do it honestly so that neither party feels ripped off.
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1 comment:

Deepak H P said...

Hey, Regarding the Sales guy experience, I would say have ashwin beside you. Two things will happen for sure. You will get a price which you have never thought of ( I mean a High price ). Second being, The buyer would be petrified and forced to buy. ;-). Have PD beside you, he might ask you to donate it based on his moods. If its me with you, I seriously would end up supporting the customer and agree to whatever he/she says.