If you hate negotiating and want to charge premium pricing… or set strict terms and conditions… all while having customers blow up your inbox asking to take advantage of your offer…
Then listen to this story.
As some of you know, my wife and I just bought a new house and are now in the process of moving. It’s been a bit stressful so far. And part of that has been because we need to quickly buy and sell several pieces of furniture.
For instance, we have a large sectional couch that we don’t have a spot for in our new home.
So last night, my wife posted it on Facebook marketplace.
“What should we charge for it?” she asked.
“$400 is fine,” I said. “I want to get rid of it fast.”
And that’s exactly what happened.
In less than 24 hours, she received over 60 messages from people wanting to buy it.
Many of them wanted to negotiate.
“Will you take $360 instead?”
“Will you hold it for me if I pay half now?”
“Can you deliver it and I’ll pay you extra?”
No. No. And No.
Normally, I might consider some of those counteroffers. But because there was such strong interest, we were in the driver’s seat. There was no need to negotiate.
So how can you make your offer THAT attractive?
Well, usually it comes down to these 3 things:
- Price
- Scarcity
- Urgency
In our case, we were selling our less-than-one-year-old couch for 65% off — making the price irresistible.
That allowed us the stay firm on the terms (i.e. “first come, first serve… you pick it up… no haggling). And in the end, we got someone to Paypal us our full asking price, sight unseen.
But the same can happen if you’re selling something that no one else has.
In other words, if it’s scarce. Either you’re offering a service that none of your competitors can match… or you have a product that’s of superior quality… or you’ve simply got something that’s flat-out rare. And because you’re the only one selling it, you get to dictate the terms and conditions.
And lastly, there are times when you’re selling something that’s urgent. People need what you’ve got RIGHT NOW.
For example, every football season I inevitably cough up a couple hundred bucks to buy NFL Sunday Ticket. Because while I can watch most of my Washington Football Team games on local TV, whenever there’s an out-of-market game, I get desperate and will pay whatever it takes to stream it.
Cause if I don’t, I’ll miss it. And that’s no bueno.
So there you have it folks…
3 things that make a legit non-negotiable offer (technically, you could consider all of them “scarcity,” but that’s a conversation for another email).
Make dollars ‘n cents?
Good. Cause I gotta skedaddle and meet with a contractor who’s working on our new house.
Your pen pal,
Matt Rizvi