By now, you may have heard about Poshmark’s newest feature, Make An Offer. You may already even have new offers on your listings. But as a seller, what exactly does it mean for you? How is Make An Offer different than negotiating a price via listing comments? And how can it help you bring in sales?
- Offers are binding and a sale is guaranteed when you accept an offer. A buyer must provide payment details and their address to make an offer. If you accept an offer from a buyer, payment will be processed immediately. As a result, buyers using Make An Offer are committed.
- Offers are private. If a seller counteroffers, other interested buyers won’t see it. The public listing price remains firm until the item is sold.
- Make An Offer is extremely fast. Each time a counteroffer is made, the buyer is notified immediately in the app, by email, and with a push notification. Accepting or counteroffering takes one click and payment is processed immediately!
- Make An Offer attracts more buyers. Is a buyer lusting after your handbag, perhaps the listed price is just a tad too high for them. Make An Offer is a great way to get potential buyers off the fence.
What is the difference between “Buy Now” and “Make An Offer”?
Buyers can use Buy Now to purchase an item from you immediately at your listed price. Make An Offer is a fast, private way for a buyer to negotiate the price for an item with you.
Should I still respond to buyers who request a lower price via comments? It’s up to you, but keep in mind that comments in a listing will continue to remain public. We strongly suggest guiding any potential buyers who would like to negotiate the price of your listing to submit a private, binding offer through the “Offer” button.
How will I know if a buyer makes an offer on one of my listings? As soon as a potential buyer submits an offer, you’ll receive an email and a push notification from us. We will also notify you in your Poshmark “News” tab.
What are my options when I receive an offer (or counteroffer)? You can accept, counter or decline an offer or counteroffer. If you accept an offer, payment will be processed immediately and Poshmark will send you a shipping label. If you counteroffer or decline an offer, the buyer will be notified immediately so they can respond.
Do I have to respond to all of the offers? No, you don’t have to take action when you receive an offer. If you don’t counteroffer or decline the offer or counteroffer, it will expire automatically in 24 hours.
Can a buyer cancel an offer after they’ve submitted it? A buyer can cancel their offer anytime until the offer expires or until you accept or counteroffer. Once a seller accepts an offer or counteroffer, the purchase is final and can’t be cancelled by the buyer.
Can more than one buyer make an offer at the same time? Yes. The first offer or counteroffer that is accepted will result in a sale, and all remaining offers will be cancelled. Likewise, if “Buy Now” is selected on a listing with offers, all offers will be cancelled.
I have a large closet. How can I manage dozens of offers at the same time? You now have an “Active Offers” page which displays all of your listings with active offers. Click on a listing on this page and you’ll be able see and compare all active offers on that listing. To get to your “Active Offers” page, go to the “Offers” tab on your “News” page and click the “View all active offers” link.
If you have any additional questions, don’t hesitate to reach out to Poshmark’s support team: firstname.lastname@example.org.