6 Questions to Ask a Trading Assistant
BEFORE You Sign Up
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A Trading Assistant (TA) can be a wonderful option for an owner who wants to sell goods at on-line auctions but lacks the time or expertise to do so. Someone else does all the work for you so that you don't lose money for your goods. You unload excess inventory, gifts you didn't want, appliances you no longer needs or toys the family has outgrown. This reduces clutter and makes you money at the same time. If you are contemplating acquiring the services of a Trading Assistant (TA), there are a number of questions you should ask BEFORE engaging his/her services. Here is a basic set of 6. More will occur to you as you get into the interviewing process to determine if you have found a TA that you can work with comfortably. |
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1. How did you set your fee rate? You need to know exactly what it is that you are paying for. Ask about any additional fees that will be out of pocket for you. Based on the percentage split, be sure to know the difference between gross and net. A buyer needs to be aware of, in terms of dollars, what you will get and what the TA will get at the end of a sale. Work through a couple of sample calculations so that you are not surprised when the final accounting reaches you.
2. Why do we have to have a written contract? Contracts protect both parties in an agreement. They help to put all details in print so that there are fewer misunderstandings or differing recollections of what was said or meant. Read the contract fully before you sign. Ask for an explanation of any items that you don't fully understand. If you are not comfortable, don't sign. There are other TA's.
3. What if my article doesn't sell? If your article doesn't sell, no one will be more disappointed than your TA. He or she has put in a great deal of work that won't be profitable for either of you. What happens next should be spelled out in your contract. Relist, return, donate - it can be arranged ahead of time to your mutual satisfaction.
4. When will the TA pay me for my goods? This should also be spelled out in the contract. The TA has to receive the funds from the buyer. These funds must clear the bank - which can take up to several weeks. Also, the buyer has to agree that the transaction is finished. Charge backs can happen from buyers who feel that the item they received was not fully what they purchased. All of these steps can slow down the getting your payment to you.
5. Where will my goods be kept during the auctioning process. 99% of all TAs will require physical custody of all items to be auctioned. This, in part, allows the TA to write more accurate descriptions and to insure that the item is still in the same condition when it is shipped as when it was listed. There are also cases of seller's remorse - once the auction is over, the seller changes his/her mind about parting with a cherished heirloom. This is very bad for the buyer and even worse for the TA.
6. Who takes the pictures, writes the ads, ships the goods and deals with problems? Browsing through auctions, you might get the impression that it's a quick and easy business. But all of the tasks necessary for a profit-making auction are time consuming and require a range of skills and expertise. Your TA will handle all of these, for which time and effort, s/he will expect to be compensated with a percentage of the sale. It will be earned. |
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In the end, it is best for the owner to be fully versed on the details of a joint business venture. Selling on line with a TA can be mutually satisfying and profitable or it can be problem ridden and painful. Make sure your experience is a great one! |
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Ruby Lane