007: Customer Asks How Long You’ve Owned The Item, You Say…
Shownotes:
Got a great question from Flipping Ninja Blueprint Student Michael R.
Michael asks:
“Quick question. When you buy things from thrifts stores, etc, and then turn around and resell them to someone what do you say when they ask how long you’ve had the item? Do you tell them you’re a reseller and haven’t had the item long? A lot of people assume that I’m the original owner of an item and want to know how long I’ve had it. Guess it gives them assurance that I know the item well and that there’s nothing wrong with it. When they ask how long I’ve had something it stumps me because I’m hesitant to tell them I’ve only had the item a few days, or weeks. I’ve told them that before and it tends to raise flags.”
This podcast will answer this question in detail.
Quotes:
“…we don’t often want what’s best for ourselves. We want what places us in our minds above other people, even if it means losing out a bit on ourselves.”
“Whenever he tells him he’s only had it for a few days or weeks, it tends to raise flags. So there’s actually a reason that it’s raising flags, and this reason has to do with human nature. Let me explain…”
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Full Transcription:
[0:00] Music.
[0:40] Guys, it’s A.J here, The flipping ninja. We got this excellent question from flipping Ninja Blueprint member Michael Rogers.
He says, when you buy things from thrift stores, etcetera and then turn around and resell them to someone, what do you say when they ask how long you’ve had the item?
Do you tell them you’re a reseller and haven’t had the item long?
A lot of people assume that I’m the original owner of an item and want to know how long I’ve had it.
[1:07] I guess it gives them assurance that I know the item well and there’s nothing wrong with it.
When they ask how long I’ve had something, it stumps me because I’m hesitant to tell them I’ve only had the item a few days or weeks.
I’ve told them that before, and it tends to raise flags. What do I do?
[1:25] This is a really, really, really good question. See that these are the types of questions I love,
because whenever I get questions like these, whenever someone asks such a detailed in the trenches type question like this, it shows that there are actually out there on the field doing this.
They’re fully immersed in, you know, flipping things. And they’re fully just out there killing it, because only then will you encounter such a specific scenario like this.
So excellent question again for Michael and let’s jump right into it, he says.
Whenever he tells him he’s only had it for a few days or weeks, it tends to raise flags.
So there’s actually a reason that it’s raising flags, and this reason has to do with human nature. OK, this is crazy, but so here’s the deal.
I’m going to tell you about a study that psychology today did on human beings, and it has to do with.
[2:20] Wanting less as long as others don’t get more. So here’s the deal.
There was a study done where, uh, you know, two people.
[2:29] Two people were asked to imagine that they would be splitting one thousand dollars with the person they’d,
worked hard on a project with so two people asked to split one thousand dollars on a project that they both works really hard on together with.
But the other person would decide on how to split it.
So in one condition, participants were told to imagine that the other person wanted eighty percent of the money.
So basically, if you accept, you get you get just twenty percent.
If you reject, neither of you get anything, and the company you worked for keeps the money.
So in this case, twenty percent of the people said that they would accept if they were not close to the other person.
[3:16] And thirty eight percent said that they would reject if it was a person close to them making the offer.
So again, a good percentage of people said they would forego two hundred dollars if it meant that the other person got eight hundred.
Now this was true even though they wouldn’t get nothing instead of the two hundred dollars.
So thing about that, there’s basically two things at play here.
First, people have a massive need to perceive the world as fair and just so basically were motivated, tow, want what we perceive as fair outcomes.
So if it isn’t fair that someone else gets, you know, randomly gets more than you get.
A lot of us will fight this, even if it means that we end up, you know, with nothing or worse off.
And the second thing is, you know, in this world that we’re in, we don’t often worry so much about how well we’re doing, but how well we’re doing relative to others.
So that means when we see someone else get ahead more than we’re getting ahead.
This is, you know, there’s often a bit of temptation tow, want them to get knocked back. Knocked back down a bit.
[4:25] So does that make sense to you? Nothing about this. Let’s let’s throw ethics completely out the window. We’re dealing with human nature here.
So basically what this means is we don’t often want what’s best for ourselves. We want what places us in our minds above other people, even if it means losing out a bit on ourselves.
So it totally makes sense. If if if you’re telling in a flipping standpoint, if someone comes to, you know, buy your product,
and they find out that you’re getting some type of gain out of this or you know you’ve only had it for a few days or weeks, they’re going toe.
That’s that’s the reason why it’s raising red Flakes, because suddenly they’re like, Oh, wait, if you’re going to gain out of this Oh, I’m not. It just It doesn’t create a good feeling and it’s like you’re from a logical standpoint. It shouldn’t matter, right?
I mean, with who cares? They want the item, you know, who cares how you got it?
But it’s all about the perceived, that perception they get from now on.
Another note thing about this, the clothing that you wear, the clothing that you buy the clothes that we all have and by and enjoy.
[5:33] If we truly knew the history and the details of how some of them came to be how, you know, maybe, And I’m just kind of making this up as I go to paint a picture.
But if you truly knew how these giant big corporations are banking on these clothes and they’re making these sweatshop workers overseas,
suffer away and slave away and work for nothing under crazy circumstances.
[6:04] Just to make these clothes that we’re wearing.
[6:07] Oh, let’s say Macy’s is your favorite Kolding store. Okay? You love their clothes. You loved going there.
And you feel amazing every time you walk in and you purchase your favorite shirt or your favorite,
parent jeans right now, what would things be like if Macy’s broadcast that an advertised the fact that oh, shoot,
ten kids in China or whatever had to work twenty seven hours to make this shirt for you for nothing?
Okay, now, Leggo said before, let’s throw ethics out the window for a sec. Okay?
Because there’s reality and there’s ethics. So let’s just think about the facts it makes. These were to market that and advertise that until their customers that how would the customers feel?
Okay, even if people knew the truth? Okay, I don’t even know that. If that’s true, you know, that’s probably not even true. Who knows?
But you get the point of making do people want to hear that.
Let’s say the shirt you’re wearing was created that way. Do you really want to hear that?
Do you Do people want to hear that every time they go out to have that buying experience, or do they just want to be sold on the item. Do they want to walk out of that store?
Feeling good about their purchase? If you knew every little detail of how you got that shirt that you’re wearing right now and what people had to go through to create it, how would you feel when you buy it? Did you feel good about wearing it?
Would you not care? Or would you not buy it at all?
[7:33] I’m willing to bet that the majority of people, well, probably not feel so good about buying or probably not feel good about wearing it, and it would totally change the whole industry.
Now there’s still going to be people out there who will buy it anyway and be like, Oh, you know, that’s just the way it is. That’s That’s how the world works.
I can’t really do much about it. I’m still gonna buy it.
[7:53] No big deal. Everything’s fine. But the majority of people, the moment they hear the story, they’re going to suddenly get those feelings.
They’re not going to feel good about it now. That’s an example that’s totally different and separate from what Michael’s asking.
It’s totally different from flipping things right so logically from a logical standpoint, when someone finds out that you know you’ve just owned the item for a couple days or a couple weeks or that you’re making money on it, it shouldn’t bother them, right?
It shouldn’t affect their decision, right. They shouldn’t feel iffy about it logically, right?
If it’s an item that they’re going to buy and that they want to buy and they’re going to buy it from you. Anyway, If they find out that you just bought it for a fraction of the price five days ago, it shouldn’t bother them, right? I mean, they shouldn’t care, right? But here’s the thing.
Human nature is not always logical, OK? It’s just the way it is.
If they find out that this table that you’re selling for three hundred dollars, if they find out that you just bought it for ten,
ten books a few days ago and you’re selling it for three hundred dollars today, most people, naturally they’re going to automatically, you know, even, maybe even subconsciously feel that those feelings like, Oh, wait, you’re getting a gain out of this.
Oh, that suddenly makes it basically lowers the perceived value for them. Now, for some reason now, this is human nature. Okay, Now think back to that study that I mentioned earlier off.
You know, two people being offered a certain amount of money.
[9:13] One person gets to decide whether it’s a split it at eighty percent and the other person, if they know that the other guys getting more money than them and they’re getting less, they would choose.
Instead of choosing the lesser amount of money they would opt out to choose that nobody gets nothing because they know the other person’s getting more money.
They would rather have the other person not get anything because they don’t see it as fair.
[9:37] Okay, So in the flipping game, you know, someone sees your item, they come to buy it.
They find out that you’re either you’re making money on it or, you know, you’ve owned it for just a couple weeks.
That little human nature mechanism is going to immediately kick in for them now, logically, they shouldn’t write.
And from an ethical standpoint, a lot of people might be like, Oh, no, you should be totally honest and tell them exactly how long you’ve had it. But here’s my viewpoint on it.
Look, this is human nature. We’re dealing with as long as,
what you’re selling, as long as what your marketing and advertising is not dishonest or it’s not something you know you’re not lying to them are deceiving them in a way that will affect you know,
them in the product that they’re buying from you, or as long as there’s not like some defect or the item is broken or you know something like that.
I don’t see anything wrong with telling them that you’ve owned it for longer than you have so that they feel better about their purchase.
You know, try to think about it. This way when you’re selling an item to someone, Don’t just look at you know, Don’t just look at it as you just trying to make a quick buck, OK?
And so Okay, some people will think like this is, you know, dishonest or unethical or this in that, or they might be like, Oh, why Why would you lie to them and say you’ve owned it for this long? When you really just only for this long and all this stuff, right? They want it this way.
[10:52] If you actually care for your clients, for your customers, for these people that you’re selling these items to, you’re not just after the money. You’re not just trying to, you know, sell them the item and collect your money and kick him out.
Try and learn to, you know, actually care about them. Think about the buying experience that they’re having when they come and buy your item.
Now what do I mean? When I say buying experience, you want wth? Um too. You know, not only take the item and be happy with it.
You want them to feel amazing about their purchase. You want them to feel amazing about the fact that you know they’re buying this from you, you know? So if you can offer them, you know, like a story or.
[11:30] You know, even something simple. I’m not. I’m not saying you have to go out there and start making up totally making up a bunch of stuff for lying.
I’m just saying, if it’s something that’s not a huge deal, like you know, if it’s not a huge deal, whether you own to this chair that you’re selling for two years or whether you open it for two days, if it’s not a huge deal like that, like if it’s not the end of the world, if they,
actually, you know, found out that you’ve only had it for a few days versus,
you no longer, why not give them that feeling?
Why not give them that satisfaction in those good feelings off?
You know, security assurance? Mohr perceived value.
You know that feeling that they’re getting a good purchase, a good item from a reputable person, you know? Why not give that to them?
If it’s doing no harm to anybody, why not give that to them and tell them that? So they feel better about the purchase? Right.
So if you stop and think about it for a sec, you’ve got some people saying that’s unethical because you know you are not being honest with them. You’re telling them you’ve owned it for this long. When you’ve only bought it the other day.
A lot of people will say that’s unethical, But if you kind of look at it differently, wouldn’t you agree that it’s actually Mohr ethical?
It’s actually more good to go into it with this understanding of human nature. You know that.
You know they can’t help it. They can’t help but feel that way. So it’s like, Why not be ethical?
[12:55] Make them feel good about their purchase. Your you see, it’s coming from a place of love, right?
And it sounds weird. You’re probably like, Oh, just you know, why are you answering with his long drawn out thing? But the reason I’m answering it is because it’s a total mindset shift, and I want you to look at it in a different way.
And you know, there’s going to be different people on different sides of the fence about this.
Like I said, some people are going to be like, Oh, no A J I’m not gonna lie about this To them, that’s like super wrong and you don’t need to lie, But it’s like, Yeah, I see where you’re coming from and that’s fine.
But also remember what’s going to happen.
These people, they’re going to, they might still by your item.
[13:33] Your item is still going to sell, but how are they going to feel about it?
I’ve sold to a lot of people where I’ve told them straight up, like, you know, Yeah, I picked this up from an estate sale the other day, and I’m flipping it, and when you buy this, I’m going to make money on it.
I’ve been totally transparent, straightforward with people and a lot. A lot of people are totally fine with that too, You know, one guy, number one guy.
But this this electric recliner from an estate sale.
And I told him straight up, I’m like, Yeah, I just bought it the other day, and I’m making you know, I didn’t tell him how much I was making exactly, but I’m like, Yeah, I’m flipping it. And he’s like, a little cool.
Flo, I hope you get you know, he came to buy, and he’s like, Oh, I hope you got a good profit out of it, you know? So some people are totally fine with it, right?
But for the most part, you know, most people there’s still going to get that feeling when you tell them they’re still gonna have that feeling of, you know, like Michael said uneasiness. Or, you know, red flags, etcetera.
So it’s really your call. I want you to think about all these things I’m saying.
If it resonates with you, if you’re like, oh, shoot. Yeah. I totally get what you’re saying.
I’m going to do with this way from now on or vice versa. It’s It’s your call. I want you to make the decision.
But let me give you one last example of kind of how I view all of this. Okay?
When your wife comes up to you and she asked you.
[14:50] Honey, do I look fat in these jeans? Even if she whether she looks fat or not, that’s irrelevant.
Look, if you were to be absolutely critical and totally honest and quote unquote ethical that, you know, you never want to lie and this and that if you were to be that guy.
[15:09] And you were to look at your wife and you’re about to answer her question, what is that going to do?
How is that going to make her feel? What is that going to do to your your relationship, your marriage if you were to be absolutely critical?
[15:24] You know, even if she didn’t look fat in it or whatever, Like I said, whether she looks fat or not, that’s irrelevant.
But let’s say you responded with something like, Ah, no, you don’t look fat or no, you don’t look that fat like just very like point blank.
Logical like, No, you don’t look fat. Or you could say yes. You could be totally honest because you’re an ethical, honest person and you don’t want to lie.
You could you could be totally honest, and you could be like, Yeah, it kind of does make you look fat. What is that going to freaking do?
Or you could be like No, it does not make you look fat, but simple. Straightforward. Right?
Or on the other hand, you can look at her after she asked you And as she standing there waiting for your answer.
And you say, Baby, what are you smoking?
[16:12] Do I look fat? Did you really just ask me that? No, absolutely not.
You look like the most beautiful, gorgeous woman in the whole universe.
From now on, fat, the word fat should be out of your vocabulary.
Why would you even ask me if you like? You know, you look amazing in those you know, pants right now, what is a response like that going to do to your relationship to your marriage?
How is that going to make her feel? How is that going to make you feel as opposed to any of the other answers that we talked about? Are you lying?
You know, are you not being ethical? Because instead of just answering her question point blank, you kind of spruced it up a little bit and you made the whole experience better.
And you kind of totally turned it around for her and you made her feel good.
You know, you made her go from feeling a little insecure to feeling empowered.
Amazing, happy. No, you didn’t. Okay, And there’s there’s still some people out there who will not even do that.
You know, though, they’LL feel weird about that or they’LL be all weird.
But, I mean, it doesn’t matter. Those aren’t the people I want to hang out with anyway, so it’s a very similar type of example.
And that’s how that’s how I want you to look at it when you’re out there flipping something or when a customer comes to buy something from you and they ask you that, you know, don’t look at it as being dishonest or unethical or feeling weird about it.
Look at it as I look.
[17:38] This person is your wife. This customer, this person, that’s client. This person who’s coming out by your idea.
This person is your wife. You don’t want to just tell them.
[17:48] Okay? Boom, boom, boom. Yeah, I bought it the other day, and I’m flipping it in making money here or Yeah, I owned it for whatever. You know, You want to make them feel good about their purchase.
[17:59] Okay? Not only are they going to be happy and feel good and their lives are going to be better, you know, that precious moment of them purchasing something, the feeling they get off buying something that they want?
Because, look, we’re all emotional, okay? We make buying decisions emotionally.
So not only are you going to give them that amazing feeling, but also, you’re going to feel better.
You’re going to feel happier and more satisfied, and you’re going toe. I love the whole process even more. And it’s going to add fuel and mo mentum to your you know, flipping even more.
And you’re just goingto love serving people, right? And everything just becomes more beautiful. I mean, there you go. You just did your good deed of the day.
You’re making this person feel good, right? So, look, you’re not just out there selling stuff and making money, okay?
You know, be proud of what you do. Be proud of what you’re doing, you know? And like I said, you see how this requires a total mindset shift?
You see the reason you feel kind of hesitant and uneasy when somebody asks how long you’ve owned it for, you know?
Well, first of all, it’s because you’re a good person and you don’t want, You know, you kind of feel like it’s being unethical, right? But the reason you’re you’re actually feeling that way is because of your current mindset.
Okay, so when you change your mind set and look at it a little differently, it changes everything.
And I know exactly how you feel. I know exactly the feeling that you’re describing because believe it or not, I still get that.
[19:22] You know, if sometimes if you know, I still tell people sometimes like Oh, yeah, I’ve only had for a week or, you know, two months, et cetera. But if I’m gonna if it’s something that really doesn’t matter, I still get those feelings right.
But What I’m saying is you know you have to You have to remind yourself you have to remind yourself about the, you know, mind set going into it.
Look at this person. Is your wife right? And remind yourself you want them to have the greatest buying experience they could have.
And if that means telling them that you’ve owned this for a little longer than you have, so they would feel better about it and feel more secure and safe about their purchase.
I mean, why not do it? What’s the big deal?
[20:00] And you know it’s there’s a good There’s a really good marketing book out there by Seth Gold and called All Marketers are Liars. But then the word liars is crossed out, and it’s above it is written storytellers.
So if you stop and just get riel with, you know everything with reality with yourself, everything is a story.
Everything you buy, everything you experience.
You were buying the story behind it, and we feel good, even if we know the story is not riel.
OK, it’s all about this story that we create and give people. That’s what makes them feel good about it.
[20:35] Okay, now we believe that wine tastes better in a twenty dollar glass than it does in a one dollar glass.
And we believe that one hundred twenty five dollars sneakers make our feet feel better and look cooler than a twenty five dollar brand and simply believing it makes it true, right?
OK, so at the end of the day, all of us, every all marketers,
succeed when you tell the right story that fits, you know, your your prospects worldview, okay, but like I said, I’m not saying your stories have to be you know, you can’t just go around telling inauthentic,
stories that are lies, or if your story’s cross the line from, you know, fibbing to fraud and all that, that’s a different story.
But ultimately, if your story is good and it makes them feel good, are you a liar or are you a storyteller?
So once you make that mindset shift, everything’s going to be so much better.
Okay, they’re going to be happier. You’re going tohave better. Positive, joyful experiences.
Every time you sell something to someone you know you’re going to get to see their face light up or see them feel good about their purchase.
And it’s just good business. I mean, come on, it’s It’s just good business. Look, nobody’s getting hurt. There’s no harm being done.
I’m not saying you go out there and lie about something. For example, let me just give you an example.
If it’s something big like if it’s like, you know, if you bought a car that you’re looking a flip and let’s say you just bought a car five days ago and you’re looking to sell it.
[22:05] Maybe you don’t know too much about the car. Or maybe you don’t know that it’s ah ah, one hundred percent Fallis and good to go.
And let’s say in a scenario like that, you post set it up And you told the buyer that, Yeah, I’ve owned it for five years.
It’s been perfectly reliable Now I think that would be a little that would be pushing it a little just because it’s a bigger deal and it’s a bigger there’s actual risk involved.
But even in the car example, let’s say the rare chance that you just happen to know one hundred percent with a hundred percent certainty that this car actually is everything you claim and you start making claims about it.
And you had, You know, let’s say you’re a professional car mechanic or you sent it to a guy and you know for sure.
[22:47] Then it’s up to you. I mean, you’re gonna have to make the call personally when it comes to like a card example.
I still wouldn’t feel right, you know, telling them I’ve owned it for longer than I have just because I feel like that’s a little different, but you’re gonna have to make the call.
Okay, You’re going tohave to make the decision, but you know, when it comes to regular items, regular things basic, you know, nothing complicated where it doesn’t make a difference, you know, to them or the product or anything, or how long you’ve owned it.
If that doesn’t make it, if it’s not, if it doesn’t really matter, then why not give them that feeling off?
You know the feeling where they they feel good about their purchase and everyone walks away happy.
So ultimately, to wrap this up, it’s really your call, you know, think about how do you want them to feel after they buy it?
How are they going to feel after they buy it and own it for a long time?
So that’s my response. That’s my answer to this question. Always remember, the person is your wife. Think about them as your wife.
You don’t have to, you know, outright lie, but you want to do what it takes to make them feel good about it.
And if that means telling them that you’ve owned it for longer than you have so that they feel good about it. Why not give them that feeling.
[23:59] I hope that helps and keep killing it later, guys.
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