How to Sell Your Equipment Quick
Trying to sell your equipment can end up costing you, but it doesn’t have to. The longer it takes to sell your equipment, the longer you may have to pay for storage, not to mention the long hours spent advertising and negotiating with potential buyers. The faster you can sell your equipment, the less you lose along the way.
As a result, people have been increasingly turning to online methods to yield faster results. By using the internet, you instantly have access to large pools of buyers. But beware, more doesn’t necessarily mean better.
Here are 7 tips to navigate through the online selling process to close deals fast:
1. Research the market value of your equipment
First off, you need to know how much your equipment is worth in the current market. You’ll never sell if you’re asking too much, but you’ll lose more than your shirt if you undervalue what you have.
Be sure to research industry trends to check out comparable equipment and establish a price range. This will help you navigate negotiations with confidence.
2. Target the largest pool of legitimate buyers
Selling your equipment can be a timely and costly endeavour, so you want to make sure that you are not only reaching a large number of people, but that they are actually interested in what you’re selling. Looking for websites that target specific clientele that work in your industry or ones suited to your equipment.
3. Unveil the value of your equipment
Just like when you sell a house or car, you want to present your equipment in the best light possible. Make sure you clean things up and make it look as new and well-maintained as possible. This includes:
- Clean inside and out.
- Repaint: heavy machinery is worked hard and naturally get dings, chips, and scuffed paint. It’s the nature of the job. But a new coat of paint can do wonders in how your machine will be perceived by potential buyers.
- Service the equipment and ensure that all fluids are clean and everything is operational. If you’re going to allow potential buyers to test it out, you want everything to run smoothly.
- Repair any leaks.
- Ensure all glasswork is repaired.
- Repair all torn upholstery.
- Remove any decals.
4. Be informative
Know your equipment and be prepared for any questions potential buyers may have. The more knowledgeable you appear, the more you will gain their trust. When you sell online, initially, there is a larger gap between the buyer and seller. Not only do they not know you, but, until you meet face-to-face, they can’t even get a read off you from a personal interaction. You need to make an extra effort to put your buyers at ease and to build trust.
5. Be transparent
Transparency will build trust with your buyers because they won’t be as worried that you’re hiding something. Be sure to post photos. Don’t just use one, post pictures of the exterior, undercarriage, engine, and cab interior. You’ve just spent time and money refurbishing your machine, so show it off!
You’ll also want to include upfront any information you think is pertinent of your machine to your buyers. If possible, set up a time to provide them with the opportunity to inspect and test your equipment.
When you provide little information and few pictures, potential buyers will likely assume you’re hiding something and steer clear.
6. Ensure all legal documents of your equipment are available
Along the same lines, you’ll want to ensure that all your legal documents are ready to show to any potential buyer. This can include maintenance records, usage logs, detailed descriptions, and certifications.
Again, the more information you can provide to potential buyers, the more you will be able to build trust. By being transparent, organized, and informative you’ll be able to attract more buyers, build up trust during negotiations, and hopefully gain a higher selling price.
7. Add a lease-to-own option
By providing a lease-to-own option to your sale, you will be able to attract more buyers and potentially garner more money as they won’t be required to pay the full amount upfront.
Your buyer may be trying to grow their business by taking on new jobs and clients. By offering a leasing option, they don’t have to pay it all upfront, which gives them the freedom to purchase more expensive equipment without the same degree of risk.
Thomcat Leasing specializes in providing tailor-made leases for those seeking to purchase equipment. We will gladly provide you with a leasing estimate that you can publish with your equipment sales description.
And if you’re hoping to upgrade, don’t forget that Thomcat Leasing is your option for leasing. Don’t settle for a mediocre piece of equipment that doesn’t fulfill all your needs. Buy what will take your business to the next level, and pay it off as it makes money for you.