There are many different options today when it comes to making money. While many people still believe that the only real way to make money is by starting their own brick-and-mortar business, this is far from the truth. Just like fixing up houses and flipping them for a profit, you can make an income by fixing up websites and then selling them for a profit.
But where do you go to find online real estate to purchase like you would a house? It has to be a location where a lot of people post new listings on a regular basis and where good deals can be found every day. With cars, you have the car buyer magazines. With homes, you can easily sell a for-sale-by-owner property through your local newspaper. But when it comes to online real estate, many have turned to Flippa.
What Is Flippa?
Every industry needs an appropriate marketplace where buyers and sellers can come together. Over the years, one site has grown to become one of the most trusted places on the web to buy and sell websites and domain names. Since 2009, Flippa has been helping people make money online by offering a safe place for transactions to take place.
Flippa Fees
The first question that anyone asks about the use of a marketplace like Flippa, is whether they charge any fees. Naturally, Flippa is a business, and they need to make money somehow. When listing and selling websites and domain names, there are two types of fees that you will incur. However, if you are the buyer in the transaction, then there are no fees.
Listing Fee
Every time a website or domain is listed on Flippa, the seller will need to pay a standardized listing fee. Sometimes, after a site or domain has been listed, it may undergo a manual review which can take roughly 24 hours to complete. Once approved, your listing will be available for the world to see. This will allow you to effectively market your online real estate to other potential buyers.
On top of listing fees, there are several upgrade packages that are available. These packages include things like escrow, legal documentation, and other features that can improve the marketability of your website.
Success Fee
Once a website successfully sells, the seller will be required to pay what is known as a success fee. Ultimately, the fee itself is dependent upon how much that virtual real estate is sold for. The higher the sale value, the lower the percentage rate. As such, for any website or domain that is sold for less than $50,000, Flippa will charge you a commission of 10%. For sales between $50,000 and $100,000, that commission rate drops down to 7.5%. And, for anything over $100,000, the commission is only 5%. If you choose to use the Partner Broker service, then you will be charged a 15% commission.
Refund Policy
As with any business, determining whether or not an organization offers some sort of refund policy, is an important part of determining whether they are a scam or not. Flippa does offer a limited refund policy, which allows a seller to receive a full refund for any listing fees they may have paid in the event that the seller takes down their listing within the first 24 hours.
Choosing Flippa
Although there are many alternatives out there today, each one has its own advantages and disadvantages. While some investors may opt to sell and buy at any number of smaller marketplaces, the decision on where to list really comes down to the type of buyers you are planning on attracting.
Because of its size, and popularity, Flippa is the number one choice on the Internet for selling both websites and domain names. The sheer number of regular investors who visit the site makes it easier for most beginners to make their first profits. But, if you are worried about the fees and commissions associated with selling through the marketplace, then you may find some of the smaller alternatives to be a better option.
How to Sell on Flippa
One of the biggest benefits of selling on Flippa, is the relative ease with which a website, domain, or even a mobile app can be listed for sale. The steps for listing, are relatively straightforward, so we shall discuss them accordingly.
The first step to selling on Flippa is to click on the “Get a Valuation” link. This link will allow you to generate an estimated value for your website, or domain name, depending on a number of important factors.
You can go through the process of obtaining a valuation for your domain name or website, or you may simply click directly on the “Sell Now” in order to start the process of listing your property.
The next step is to input your website or domain name URL. Please make sure that you are providing the complete root URL of the website, as this will be an integral part of the listing process.
From there you will be given the opportunity to choose a specific category. This is important because investors generally purchase domains and websites that are focused on niches that they are more familiar with.
The final step is to either sign in to your existing Flippa account or sign up and create a new one. While you can go through the effort of completely filling out the sign-up form, most users of the site simply click on the “Continue with Google” option as a result of its simplicity.
Once you have signed up or signed in, you will then be redirected back to your listing and with the help of the on-page prompts, you can continue to process the listing of your domain or website.
Flippa Profits
The simple fact is, is that although domain flipping is a great way to make money online, it is still a risky venture. There are no guarantees in life. And if you have ever watched a house-flipping show on television, you would understand just how risky flipping real estate can be. After all, you are dealing with virtual real estate.
Before you make your first purchase, you need to take the time to understand the value of any websites you are interested in. All too often, newcomers to the domain flipping industry overpay on their first couple of websites. Although overpaying may not necessarily result in a loss when you attempt to resell that website or domain, it does drastically reduce the profit potential of the flip.
There are times, that when purchasing a website, hosting is also included. And, there have been occasions where the original owner stopped paying for hosting, resulting in the site being taken down by the web host provider. Because of this, it is generally recommended that as soon as you take possession of a new website, you immediately take steps to transfer it to your own web host.
Common Questions
Because of its sheer popularity, many people have questions about the marketplace. They want to know if Fippa is a legit service, so they began to search the Internet for Flippa scams. And, while there are the occasional sellers who have used the service in the past in a less than legitimate manner, the vast majority of transactions go through without a hitch.
Is Flippa Legit?
For more than a decade, Flippa has been bringing the buyers and sellers of websites and domain names together. It has grown to become the largest, and most trusted place on the Internet to find web-based businesses. Today, there are more than 250,000 members who are actively engaged in domain flipping investments. There are also countless resources strewn across the Internet, that provide you with the tips and tricks you need to gain more experience and become more profitable.
Does Flippa Offer Live Support?
No one wants to send in an email and wait weeks before they receive a reply from a real person. So when it comes to an online marketplace like Flippa, it is important to know that the company has an entire team of CSRs who are available to assist you with any questions, comments, or concerns you may have about the site, and its features. Moreover, you can contact support by phone, through email, or even using their live chat.
Does Flippa accept PayPal?
Since its inception, PayPal has quickly become one of the largest e-wallet providers in the world. And although you can use PayPal virtually anywhere online, there are still some organizations that do not accept it. Luckily, Flippa is not one of them. Not only do they accept credit and debit cards, but they also accept PayPal payments. The company also offers its own in-house Flippa Credits which can be purchased online and used when needed.
Does Flippa Allow Relisting?
Not all websites and domains sell when they are first listed. There are times, when you may need to relist a website before you are able to attract any good buyers. The good news is, that Flippa allows you to relist as many times as you see fit. But, you are required to pay the listing fee each time that a website or domain is relisted.
How Long Before My Website Sells on Flippa?
One of the great things about using Flippa is that it only takes about 10 to 15 minutes in order to list your domain name or website in their marketplace. Now there are times when a manual review is necessary. In the event that a manual review is required, this generally takes no more than 24 hours. Depending on the buyers in your niche, your price, and the ultimate profit potential for your property, you may receive some of your first offers on the very first day. But that does not mean you will agree to sell it right away. Many properties, can stay in the marketplace for several weeks or even months before a willing and able buyer agrees to make a purchase.
Conclusion
In the end, there is a reason that Flippa has become the largest and most well-respected website and domain name marketplace in the world. It is an excellent location for anyone who is looking to purchase or sell online real estate. So whether you are looking to start your own web-based business, or are debating about getting into the domain flipping industry, Flippa is one of the most highly recommended marketplaces today.
