5 Tips to Succeed In Bartering
No, this article is not going to teach you how to exchange your goats with your neighbor's chickens
, although that may not be such a bad idea anymore, during these desperate times. This is a simple guide for those who are rediscovering the value of barter trading, which is making a comeback because of the economic benefits that people get out of it.
Bartering, as many of us know, is the act of exchanging goods or services without using money. Modern day bartering can now be done through the Internet, via online barter clubs which act as trading portals. People who want the ease and functionality of a website can join these barter clubs, find good deals, and get the deal done using trade dollars. This is an online currency that determines the value of the thing or service being traded, making it easier for the members to decide on the things they would want to barter.
If you want to give online bartering a try, here are some tips that can help you achieve success in this lucrative past time:
1. Do your research.
Choose a barter club that has an online presence, and has a diverse membership. This will give you many opportunities to find the right item you are looking for. It will also allow you to reach more people who may be interested in the products and services you are offering for barter.
2. Check the barter club's terms and conditions.
Most of the barter clubs online have their terms of use published on their websites. Take the time to read, before signing up and paying the membership fees. Usually the site will charge either a one time fee, an annual fee, or a monthly fee. Most will charge a commission fee for every trade completed.
3. Be specific with your offers.
When posting the products and services you are offering, include as much details as possible. For example, if you are offering tutorial services, indicate how many hours you would be willing to put in, in exchange of what item or service you would like. The more details you provide, the more interest you will create among other members.
4. Be safe.
Do not readily give out your financial information to anyone who contacts you through these barter networking sites. Although most sites have ways to screen their members, they also have a waiver on their terms of use, in case you fall victim to an online transaction that constitutes a scam. It is really your responsibility to conduct due diligence on your potential trading partners before you enter any deal.
5. Get legal advice.
For high value transactions, like home swapping or barter trading your car, seek some legal advice to make sure that the transaction is conducted legally. Have a contract written, before completing the exchange. This is just to protect your interests, and to make sure that both parties will benefit from the transaction.
Here's an extra tip think out of the box! Check things that are just lying around your home or your office, and put them to better use by posting them for trade on the barter club. Who knows, your trash may be someone else's treasure, and there may be a good deal coming your way!
5 Tips to Succeed In Bartering
By: Debbie DeSousa
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