Old pair of sneakers but still got some life in them? Hoodie that doesn’t fit anymore? Headphones in the back of your drawer collecting dust? Perfume you bought but actually…hate? 

Sell it! It’s like they say, “one person’s trash is another person’s treasure”. So put an eye patch on and slap a parrot on your shoulder. Here are some hot tips to help you secure the gold bag!

Step 1: List Your Item Online

Channel your inner photographer 📸

No one likes a blurry photo and no one likes just one photo. Providing multiple photos from different angles will more likely influence buyers to message. Videos also work wonders, especially for electronics to prove that they work! 

Create your listing 🛍️

Facebook Marketplace, Karrot, and Kijiji are the most popular platforms. They are all relatively the same, so explore the app/site and familiarize yourself with how it works. On Facebook, you can also join local groups to increase your odds of selling to someone close by.

Be honest, hon 💯

Don’t lie about the condition of the item. If it’s used, mention that it is used. Playing off an item as ‘new’ will only make the exchange awkward and, in the worst case scenario, they leave without buying it. Include the condition of the item in your listing description with clear photos showing any defects. Honesty is the best policy, bestie. Price accordingly. A half-used bottle of perfume should not be going close to retail price. But hey, cleaning a dirty item so you can price it slightly higher is totally valid. Include the size and measures where applicable!

Be a smarty pants with that price 🤑

Do your research. Search your item on the platform and see what it’s going for. If you live in an urban city, there might be a higher demand. Price your item around the same price or slightly lower if you want to sell it faster. Take the condition of the item into your pricing decision. If it’s BNIB (brand new in box), it should definitely go closer to retail price. Conversely, if it’s looking a little rough, knock 10-25% off what people are selling it for. If you’re offering to drop off, be transparent and add the cost of commute, gas and travel into the price (and the listing). You can also upcharge $10-20 on purpose to counter lowballers (so you end up selling for the price you want!)

Step 2: Exchange Details

Communicate clearly 🗣️

When you’ve received a message from a potential buyer, answer any questions they might have. They may bargain with you, so decide if you’re willing to give that discount to sell the item quicker. Remind them of any defects or imperfections (a lot of people don’t actually read the listing description). Decide and agree on a meetup date and location, and check in on the day of. Exchange numbers only if you’re comfortable. If they are long-winded and not securing the deal, move on!

Cash is king/queen 💵

Deal with cash only and have some pocket change ready when trading. Make a note in your listing that you only accept cash and confirm it (with the item cost) in chat when discussing meetup details. It’s possible that they want an additional discount during the trade. Stand your ground and sell at the price you set. Frankly, the likelihood of them leaving just because they can’t get an additional $5 off is slim. 

E-vade e-transfers 🙅🏻‍♀️

E-transfers can take up to 30 minutes to process and sometimes even longer if auto-deposit is on. You don’t want to hand over the item unless the money is with you already. Plus, you also won’t need to share any personal info like your email address! The one exception will be if you’re offering to drop off the item, then have them e-transfer and deposit the money first before making the commitment. Nothing worse than a flake after you’ve made the distance!

Step 3: The Trade

Let’s meet there 📍

At the end of the day, it’s a stranger and taking stranger danger precautions is smart. Meet up in a populated public area like a Tim Hortons at a major intersection or a subway station. Ask a friend to come with you for strength in numbers (especially if you’re dropping off a trade). For safety reasons, it’s best to avoid giving your home address for pickup. 

5 stars, thumbs up, would trade again ⭐

When trading, be friendly. It’s normal if they want to have a look at the item thoroughly. If it’s a BNIB, don’t let them open it unless you accept the money first. After the trade is done, give them a friendly reminder to give you a positive review. The more positive reviews on your profile, the more likely you’ll sell more in the future.

Don’t give up 💪🏻

“Hi, I’m interested in purchasing. Is it available?” … Then silence after you reply. You’re more likely to get non-responsive flakes than serious buying inquiries. Don’t give up, some items could take months to sell! But hey, you only have to post it once. The item can go back into storage until a trade happens. Lower the price once in a while if you’re not getting any bites.

Hopefully, these tips will help you get started! But remember, no amount of reselling will help if you’re overspending. Budgeting and making smart financial decisions will always be important. Starting healthy finance habits as a student is the way to go! Check out some budgeting tips from our friends at CIBC here.