Previously we discussed why online classifieds are the future marketplaces. They are quickly surpassing print classifieds due to their wide reach and ease of use for both buyers and sellers. The advertisements can be more detailed with the inclusion of pictures, videos, logos and comprehensive descriptions.
If you’ve finally decided to venture into the world of online classifieds, here are a few tips you should keep in mind.
When pricing your product, be reasonable. Your price can be higher than the product’s current worth, but not higher than the price of a brand new product. If it is more pricey than an original product then buyers will have no incentive to purchase it from you. Also when setting a price take into consideration the eventual bargaining you may be subjected to that will bring the price down. If your price is too low you may incur losses after the bargaining. Before putting a price of a product check out the market value of it and then set a base selling price. It is also important to consider the wear and tear of the item you are selling. A good example is when setting a price for electronics. Those still under warranty should cost slightly less than a brand new one.
Always use images. This makes your ads more appealing to any interested party. with online classified sites like OLX, You can post upto 17 images so use as many as you can. Its better if you use an image that you have taken of the product yourself rather than lifting a picture from the internet. This helps the buyer authenticate the condition of the product and that you are not a fraudster. Use good clear images from a good camera that captures the details well. The quality and authenticity of an image can determine how long it will take before your item gets a buyer.
Be as descriptive as possible. It lets potential buyers know everything they need to about the product and shows them that you are well versed about your product, which makes you appear more trustworthy. List the features of your product, for example if it is a mobile phone the colour, specifications such as the quality of the camera, operating system, storage space and so forth are important. This makes it easier for buyers to find your product based on their search criteria.
Social media also plays a part. Once you create your advert on an online classifieds site, it wouldn’t hurt to post it on Facebook & Twitter to spread awareness of your product. You can also get constructive feedback and see whether you may need to alter certain factors of your ad.
Always communicate with the buyer over the phone. Emails and text messages are a good medium initially but it is much better to have the personal details of the person you are buying the product from. If this person keeps avoiding your phone calls you might be the victim of a hoax.
It would be wise to transact in cold hard cash. I’ve heard of incidences where a person would receive payment via M-PESA and then after a short while would have the process reversed through Safaricom before the seller has a chance to withdraw the cash. If you are buying something that cannot be handled in cash, for example a vehicle, accompany the seller to the bank for a transaction.
7. Meeting places
After you have agreed with the seller/buyer, you will need to meet to complete the transaction. For your own safety you should meet in a public place with lots of exposure, such as a coffee shop, restaurant, or in a place with many witnesses. Take someone with you, not just for security reasons, but also to help with the bargaining. Also a third party can help reduce the chances of you being duped.
Do you have any other tips on how to get more out of your OLX seller account? Share it in the comment section below!