Top 10 Ways to Make More Money on Craigslist
I’ll be moving again in April which means it’s time to purge myself of consumer goods. I find it refreshing and liberating but at the same time I never liked the idea of giving my stuff away for next to nothing at a yard or garage sale. The expectation at a garage sale is cheap, used goods. It’s for browsers and not people with specific needs.
Craigslist on the other hand creates niche markets on products through need or want. It’s about supply, demand and narrowing down your target.
How Much Should I Expect to Get Back?
My goal on Craigslist is to make 50-65% of what I purchased for any item. After you factor in depreciation and how much time you want to put towards posting ads, responding etc, it’s best not to expect more. Some items yield higher returns than others. I find furniture, office chairs, mattresses, ikea anything etc., are poor earners where as smaller items like sporting goods, small appliances and electronics can reap solid coin.
Here are a Few Things Worth Keeping in Mind
1. Determine the going rate. If I’m selling an electric kettle I will review 2-3 posts already listed based on price, photo quality and how they word the ad. I will also do a quick search to see what stores are selling for. Remember it’s supply and demand. Just because you bought something on sale doesn’t mean it’s still on sale. Do your research.
2. Always include a picture. Many people narrow their search by that alone so don’t be lazy. It also gives the impression you’re a real person and not just a spammer
3. OBO is your friend. Always include obo (or best offer). If you’re worried about people low balling you just expect that and factor that into your original asking price. If you want $50 say $65 obo. You’ll probably get $55 for it and both parties win.
4. Always give a reason why you’re selling the item. For me, I’m moving so that’s a no brainer. If you got a new item in the same category that’s just as good. Giving a reason gives the sense you’re offering up a bargain. When someone reads your ad they will ask themselves if this is a real post and if it’s a deal.
5. Steal or borrow from others. Off of my first point don’t be against taking a picture from Google images or a block of copy from others. Just make sure you do this from other cities. You can do the same with copy if you’re a poor writer but always augment it so that it fits your scenario.
6. Leave a call back number. Most people avoid the phone like the plague. I don’t. All that does is weed out an older demographic who chooses to sort things out over the phone. It also yields a higher conversion rate on the sales. I’ve had more people send me emails with half-hearted interest than by phone. It’s not even close.
7. Be patient. Make a post, be confident in it and just leave it up. If you keep reposting you come across as desperate or annoying. Neither is an ideal trading partner. If you’re under a time crunch just start selling your goods early.
8. It’s in the details… and keywords. If you were buying the same item you were selling what would you type into the search field? If you’re selling a monitor you may want to include the model number (people copy and paste). If it’s a desk chair you’ll have lots of competition so what’s your unique selling proposition (USP)? Adjustable back rest? Ergonomically awarded design? Don’t lie as that will get awkward but keep in mind that people reinforce purchasing decisions with the details. Doing this will also help with search results within Craigslist.
9. Don’t just your first offer, especially if it’s a low-ball. It’s obvious but just because people make an offer doesn’t mean that’s the best out there. If you’ve done what I’ve said above you have the luxury of time on your side.
10. Avoid theft or spam. The “best” offers I’ve received were from people half-way around the world promising me money once I mailed an item to them. I’ve heard other horror stories of people meeting up in parking lots to make a transaction. Use common sense. If you are using the phone over email like I suggested above you can naturally weed people out using intuition. If you’re not sure bring a friend or make the transaction in a public place where you feel comfortable. My condo lobby is perfect. Camera’s are abound and I don’t have to get out of my comfort zone. There’s no better way to lose money on Craigslist than to be robbed.
