7 Tips to Negotiate With Buyers Online
When you’re selling products or services online, you’ll need to be able to negotiate with buyers to reach a fair price that works for both parties. It can be difficult to get the price you want when negotiating via email, chat, and other non-vocal communication channels.
The tips below will work no matter your medium that you are selling on. I have used these countless times on Craigslist, Facebook Marketplace, Pshmark, and Etsy.
7 Tips to Negotiate With Buyers Online and Increase Profits
Be Clear About what you are Selling
This starts with making sure you have written a good description, posted good pictures, and described any specs or conditions or the item you are selling.
Buyers will often try to haggle over the price of a product or service if they don’t feel like they fully understand what they’re getting. Be sure to provide as much information as possible about what you’re selling, including any relevant specifications, features, and benefits.
To learn how to write effective posts on the major selling platforms, check out these articles:
- 5 Tips for Selling on Craigslist
- 6 Tips for Selling on Facebook Marketplace
- 5 Tips for Selling on Poshmark
Know Your Bottom Line
it’s important to have a firm understanding of how low you’re willing to go on the price before you start negotiating. Once you’ve established your bottom line, be prepared to stick to it.
Never tell the buyer your bottom line up front. If you do, that’s all they will offer you and you will lose all leverage.
Start with the price you have posted online, if someone asks if that is negotiable, answer honestly. If you feel the price is negotiable, ask them to provide you with their best offer. Don’t you drop the price…let them make their best offer.
Analyze Non-Verbal Communication
When texting or emailing, we are not only communicating verbally but non-verbally as well. The words we type show verbal communication, while things like response time, response length, and the use of emojis and punctuation demonstrate non-verbal cues. Look into not just what they are writing, but how they are writing.
Does the person seem excited about what you are selling? A good sign is often how quickly they respond. If you see these signs you can try and get a price at the higher end of your range. Are they using emojis that seem like they are apprehensive? or perhaps writing long-winded questions? See if you can give them a more detailed answer to try and quell their concerns.
Also, look at your non-verbal cues as well. You can always wait a significant amount of time to respond. Sometimes it’s good to let a buyer think about their offer and why you are taking a long time to get back. If you do, know that you could risk losing them, but if you don’t like their offer anyway it’s not a loss.
Don’t be Afraid to Counteroffer
Continue to counteroffer until you feel like you are happy with the price. If a buyer makes an offer that is below your asking price, don’t say no, counteroffer instead. It’s important to stay calm and professional when negotiating, even if the buyer is being aggressive or difficult.
Be Willing to Comprimise
In most cases, both parties will need to compromise to reach an agreement. If you’re not willing to budge on price, be prepared to offer something else in exchange, such as free shipping or throwing in something to sweeten the deal.
Negotiate in Good Faith
Do not deceive people and just be super honest about the item, its age, original price, and condition. If you want to find someone who you can trust to pay you, it starts with you negotiating in good faith.
Walk Away if Necessary
If you’ve made a counteroffer and the buyer isn’t budging, be prepared to walk away from the deal. This can be difficult, especially if you want to sell the item, but it’s important to know your worth and not give in to lowball offers.
Tips to Negotiate With Buyers Online – Conclusion
If you follow these tips, you should be able to successfully negotiate with buyers and reach a fair price that works for both parties.
