Selling A Motorcycle, Enterprise Software Style

Shame on me. It took about five low ball offers, sent to me as texts, to realize my unforgivable mistake. I was selling my wife's Honda off road bike on Craigslist and acting like the worst kind of enterprise sales rep. Each offer came in pretty much the same...the potential buyer had a budget, a promise of a quick sale (today), and my only counter was to offer a little less than the posted price. I fell into the trap of responding to these texts multiple times.

What was wrong with me?

I know better. I work in enterprise software and this scene is remarkably similar to what happens every day when the price tag is tens, hundreds and even millions of Dollars/Pounds/Euros/name your currency. A savvy buyer knows that a sales rep can be a lazy beast who simply wants the quick sale at any price. A lazy sales person plays the game and simply starts the negotiation from that very weak position.

What did I do differently?

To successfully sell my wife's motorcycle required a better approach, just as enterprise software requires a better approach than many reps are willing to take. I had to slow down, take a breath, and begin to strategize how to sell. I had to develop a much better knowledge of the buyer before I could realize the value for my item. Here are the three questions I decided to ask:

1. Why do they want to buy? A buyer on Craig's List or in an enterprise can have many motives, and understanding those motives sets the tone for everything that follows. Are they just checking on behalf the true purchaser? What problem or desire are they trying to solve? How has that problem or desire manifested itself? In enterprise software, how do they quantify it? What would they like the result to be?
2. What are their requirements? This is the most strategic question of all. A buyer may have perceived requirements like getting a low price, but that's only at the surface level. By the sixth texted offer, I started to ask, "Are you looking for a bike that has never been raced?" "Tell me the importance of regular, documented maintenance on a used motorcycle." "Describe the condition of the kind of bike you're hoping to buy." In the process of asking their requirements, my angle was to subtly describe what I'm selling and to differentiate it. I'm selling without selling. I'm building the case for my product without overtly pushing. I'm helping them realize that price is only one factor.
3. What is the realistic time frame? This is the hardest thing for enterprise sales reps to understand. In the beginning of a sales cycle, the person on the other end has a perceived need to buy, therefore they need you. In this short and quickly-closing window, a buyer will try to stoke the interest of the seller and gain the upper hand by making the deal sound fast and easy. An early price commitment will never be forgotten and will be a leverage point for the buyer later on. A hammer, in fact.

I changed my tactic in selling my wife's motorcycle and the results were astonishing. For starters, anyone who didn't want to give up info was likely looking to buy cheap and resell (a common thing on Craig's List) and not my kind of buyer. Secondly, I was able to get conversations going around the quality and condition of the motorcycle, thereby increasing the perceived value. Lastly, I was able to interject my own credibility into the sale and to develop a starter relationship that would make it harder to buy from someone else.

I sold the motorcycle for my asking price 24 hours later. Like this: