No, this article is not going to teach you how to exchange your goats with your neighbors chickens, although when you consider today’s economics that may not be such a bad idea. This is a simple guide for those who are rediscovering the value of barter which is making a comeback because of the economic benefits that people receive.
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 organizations which act as trading portals. People who want the ease and functionality of a website can join a number of different barter organizations, find good deals, and get the deal done using trade dollars…an online currency that determines the value of the item or service being traded, making it easier for the trading partners (or barter organization 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 continually find items 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 online barter clubs have their terms of use published on their websites. Take the time to read prior to signing up and paying (if any) 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 to exchange. 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 any 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, seek some legal advice to make sure that the transaction is conducted legally. Have a contract written, before completing the exchange. This protects your interests, and makes sure that both parties will benefit from the transaction.
Heres 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 elses treasure, and there may be a good deal coming your way!
Submitted by Terry Brandfass of ITEX-AZ
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