Let’s discuss the nuts and bolts of how to make money on eBay, optimize your listing, and set yourself up for success.
Create an Account
Before listing any goods, you must have an account with eBay to sell goods. Consider whether you need a personal account or a business account. Although the decision is ultimately up to you, you should consider operating with a business account if: If you’re not sure whether you need a business account or a personal account, you can always switch after your account has been created. Navigate to the ‘My eBay ’ tab, then select ‘My Account’ followed by ‘Personal Information’. By clicking the ‘Edit’ button, you’ll be able to change the account type and enter your business details when you’re ready.
Get Administratively Prepared
There are several additional administrative items worth considering before you list your first item. When setting up your account, consider an appropriate eBay name that invokes trust. Set up a PayPal account in advance to ensure you can promptly receive payment when your first item sells. If you’ve never used eBay before, consider navigating the site, identifying an inexpensive item, and testing out the ‘Buy’ feature to see what a customer is going to experience. If you plan on listing your first items with “Buy Now” options, consider getting armed with shipping supplies before you list. You won’t know how long it may take for your first item to be sold and if it goes quicker than you realize, you may be forced to make your very first customer wait as you gather what you need to ship the good.
Prepare For Your Listing
It’s time to start selling! Gather items from around your house that you no longer want or use instead. It’s time to do some research after you’ve collected a box of things to sell. Start the process by going to the “Selling” section of the website and hitting the blue “List an Item” button. You’ll be prompted to fill in your product’s details, upload photos, and name an item’s price and shipping rates, among other information. Before preparing your listing, consider navigating to this part of the website to better understand what information will be needed. After a while, you’ll get a hang of what is needed; for your first listing, write down a list and gather the information before proceeding.
Set the Right Price
Learning how to price your items is an important part of being a successful eBay seller. You can see how much similar goods are sold for by searching for the item on eBay and adjusting your settings to show sold listings. You shouldn’t determine current market value by the selling price but by how much sellers are able to get for an item. You can also use other online selling platforms, such as Facebook Marketplace, OfferUp, Craigslist, Poshmark, and Nextdoor to gauge the right listing price. This may be straightforward if your item is common and standard (i.e. a specific book). If your item is more specific or unique, make a list of comparable items, how your product is similar or different, and adjust your pricing accordingly. Spend some extra time when researching how much to charge for more expensive items, such as antiques, art, or collectibles. You’ll want to make sure you understand the item’s value before you list it so as not to sell yourself short. Sites like WorthPoint.com can help you to pinpoint an appropriate listing price.
Optimize Your Listing
As you create your listing, your goal is to make your listing as attractive as possible to potential buyers. Pay attention to what other sellers are doing, especially those who are generating sales. Whether it is offering free shipping or using specific keywords in their titles, there are always ways to gain an advantage in your eBay listing.
Title
eBay product listings have up to 80 characters. Your goal is to easily communicate what you are selling and have the consumer easily identify what the product is. Try to include two or three primary keywords in your title as well as descriptors such as brand name, color, size, product attributes, or product condition. Some product listing types also allow for a subtitle up to 55 characters for an additional fee.
Keywords
Leading up to creating the product listing, spend some time researching what keywords best identify your product and drive search results. As you become more serious about selling, consider investing in SEO tools to help identify these search criteria. For your initial listings, check what phrases Google auto-completes as you search for your product, see what words similar listings use and analyze recent Google Trends data for search criteria. These keywords should be used throughout your title and product description. Don’t plan on spending too much time on your description; try to find the balance of describing the good for sale without leaving any potential unanswered questions. Product identifiers and item specifics aren’t required, but it’s often best practice to include this information on your listing. By typing out information such as the condition, color, brand, ISBN, or UPC, buyers are likely to be driven by your listing should there be keyword matches.
Photographs
You’re allowed up to 12 free photos per listing, so consider documenting your product from different angles or different spaces. This is the opportunity to also build trust with your clients by clearly displaying any defects or issues with your product. It’s often advised that photos should be at least 500 pixels on its longest size. Ensure good lighting in a clutter-free environment, and be mindful that text or some artwork are not allowed in photos. You can also pick a stock photo to use using the eBay product catalog.
Shipping/Returns
eBay’s fast shipping program ’eBay Fast ‘N Free’ is designated on a listing by a prominent tag. If you plan on shipping your product quickly anyways, these types of listings attract buyers and invoke confidence in your sales as Fast ‘N Free products are guaranteed by eBay. As the seller, you’re allowed to set whatever return policy you want. Be honest about whether you’re willing to accept returns, being mindful that customers may choose a different seller (with even a higher price) for the flexibility of a return. You can set a return period (i.e. the buyer is allowed to return the product within 14 calendar days of the receipt of payment).
Review Your Niche (or Lack Thereof)
Some sellers might prefer the focus and direction that a niche market provides, but don’t worry too much about finding one. When getting accustomed to eBay, consider selling what you can to learn about how the marketplace work and what it’s like partnering with customers. In time, you may naturally find you prefer selling certain types of goods or working with certain types of customers. It can seem daunting at first, but you’ll acquire an eye for what buyers want as you become more experienced. Even when you’re not selling, consider having the eBay (and other marketplace) apps on your phone so you can check the value of the items and teach yourself what to look for when you’re at garage sales, thrift stores, or antiques shops and shows.
Streamline Wherever Possible
After you’ve completed several sales, it’s time to review how things and gone and come up with ways to improve. Identify areas where you can make the process simpler. Even the smallest changes to make things a little quicker can add up and save you a considerable amount of time in the long run. Ask yourself the following questions:
Is it faster to take photos and list items using your smartphone? Would the change in quality be noticeable?Can you have a dedicated shipping station set up in your home so you don’t have to move things around or gather supplies every time you need to send a package? Is there a more efficient way of gathering information (i.e. using stock photos, using specific sources for UPC numbers).How have your client interactions gone? Have you responded to inquiries quickly, and what would make customer service easier?
You can create templates ahead of time if you consistently use certain words in your listings. If you decide to pursue a specific niche, think of how a single post can relate to others and attempt to replicate a successful listing. If you’ve noticed that certain layouts, keywords, or listing features have driven more success, leverage those in other listings. You’ll have to report your earnings to the IRS if selling on eBay is an actual business for you and/or you begin bringing in even moderate money. You should receive a copy of a 1099-K form reporting your earnings to the IRS if your gross sales on eBay are more than $600 for the year as of 2022. This is a decrease from $20,000 in sales and 200 transactions in 2021.
