Category: Uncategorized

Borrowed vs tax refund vs saved

If you are planning on selling anything in the next few months you’ll run into these three categories of buyers.

Borrowed is just referring to money that came to the buyer in the form of a loan or credit card.

Tax refund and saved money are self explanatory.

The other day my brother and sister in law were looking to buy a used car.  They popped into a few dealerships.  Dylan (my brother) said the prices on the used inventory was bloated.  When he talked to a few sales people, the sales person asked “are you financing or paying cash?”  They seem to be astounded when he said they would just be paying for the car in cash.

They then said, “well the cash price is lower than advertised.”  Dylan asked why.  They simply directed the conversation to reasons of it being tax refund season and almost everyone finances.

This is what I’ve noticed about selling to people and my personal spending habits.  When it feels like I haven’t worked for the money, in the form of a loan or refund, I and many others feel it easier to spend more money.  We tend to pay less attention to the details and final cost.

Now what does this mean to you?

It’s pretty simple.  As you sell right now you’ll notice people focusing less on negotiating the best possible deal.  In the case of tax refund money, even though it is the buyers money that they worked for there is some sort of magical feeling about it.  As if Santa lives in Washington and is just handing out cash gifts.

Remember that mower I sold?  Buyer used a credit card (borrowed money).  He didn’t even bother to talk about the price.  Just needed to swipe and was on his way.

Almost every single time I sell something with the buyer paying cash, he’ll want to pay less.  It’s real.  He worked for it.  It’s tangible.

Borrowed money = your item is worth more

Tax refund money = your item is worth as much as borrowed money

Cash=  your item is drastically worth less

So in summary, figure out a way to be able to take a card.  Use PayPal or Square or one of their competitors.  Always swipe if possible.  Manually entering cards can hold up your money in limbo.  Keep cash on hand, small bills and ways to make change.

Presentation can make or break…

Your sale.

Things that are considered cool, have more value.

Items that have appeal, have more value.

Beauty has a draw to it.  It can be seen as having more value.

When I went to Social Media Marketing World last year there was one concept that stood out the most to me.  The value of proper photography and high end videography.

Learning professional tips on angles, lighting and placement of subject matter in the frame.

You know around our place I sell a lot of our belongings.  I like to buy, therefore I learned how to sell, so that I can continue to purchase new or different items.

The number one thing that brings in prospective buyers for me is a great presentation.

I watch our local sales sites.  Paying close attention to a specified group of search queries.  I can see which items sell and which items linger into the fatal expired abyss.

Presentation is not only about catchy photos, but it must also include a lure in the description.

With it being a known fact that our brains make millisecond decisions on value to us, we must learn to entice a buyer into viewing and reading our post.  Presentation is the simple concept of the sales procedure that will dictate if you and your buyer will ever reach the next step.

If you have a lousy presentation, don’t expect to get much more than lousy buyers.