How I Made $22,000 Selling Stuff Online
I sold my home. Moved 600 miles. Downsized the living space by about 1,000 square feet.
Dang, I didn’t realize until that time how much “stuff” I (we) accumulated.
A major purge was inevitable.
So Craigslist here I come.
Full disclosure. My husband (the engineer boy) was the one responsible for posting and selling the stuff. I helped with the written descriptions.
I am telling you this story because I want to illustrate how selling on Craigslist is like some of the sales techniques you can use in your mortgage business.
1. Be as specific as possible: He provided measurements. Color. Described imperfections/issues. Where it was purchased. How long we owned it. The brand name. Used “key words” in the title of the listing ad (Recliner Chair, Flex-Steel, Black and White Hounds Tooth Pattern).
Translation: Be specific when talking with clients or real estate agents. Take the appraisal process, for example. Explain how it gets ordered. The estimated timeframe. What to expect when it is received. Who gets copies. Why it’s an important piece of the mortgage process.
2. Pictures: He provided at least 6 pictures of the chair.
Translation: While you would not provide pictures, you could provide comparison charts, graphs, and a document outlining the loan process or what’s needed at the time of application.
3. Price it right: He did the research. Compared what other items like it were selling for. What we paid for it when we bought it. The price the buyer would pay if they bought it new.
Translation: Know your pricing. Your LLPA’s. What your competition is quoting. Be prepared to explain why you are pricing the loan the way you are.
4. Personalize: We sold a Sarah Grant STX game set. It would appeal to a very specific audience. So not only did we describe the game set, but who this game set would appeal to (i.e., collectors, someone who owned a lakeside cottage, chess aficionados).
Translation: For each niche loan product, figure out who the ideal client would be for that type of mortgage. Take VA loans. Did you know that there are 11 different types of military service that qualify for a VA loan—including National Reserves and Coast Guard? Consider listing that info on your website, social media or handouts.
Here’s the thing. Most of the items sold within 1 hour to 1 week. I believe it was due to using the above techniques.
I believe that using this simplified system as part of your sales strategy can serve as a way to make yourself credible, and appeal to the both real estate agents and consumers.