As the new Customer Support Representative at Flippa, I have come to realize that it can be a daunting marketplace for beginners. Having no prior experience working in the tech industry I myself was a confused user during my first week. If there was any true indication to my beginner level it was when I had to ask a coworker to clarify the difference between a domain and a website. Complete and utter amateur.
I have since encountered a lot of common issues coming through our mailbox, even though our developers are constantly updating and improving the platform. I now have a comprehensible understanding of how the marketplace works; keep in mind, I had my trusty colleagues to bombard with questions on a daily basis (or every 5 minutes).
Even though I am still learning every day and am technically still a beginner, we thought it would be beneficial to all of you newcomers to welcome you with a beginners guide for reference. And who better to write a beginners guide than the new girl? So here we go.
This guide will consist of a series of blog posts based on the most commonly asked questions received through Customer Support, as well as what I have learned as a new Flippa user. I would also like to welcome newcomers to the marketplace and encourage any of you to get in touch with unaddressed queries you may have via [email protected]
This may seem too obvious and unimportant to be taken seriously but it is worth mentioning: upon registering with Flippa, please ensure your email, phone number and personal information are clear, correct and current. This information will be viewed by administration and potential buyers/sellers, so make sure it is up to date. Verifying this information is correct at the start can save you time when you contact customer support at a later date. Also please ensure your PayPal email is accurate for payment purposes, if applicable.
Familiarize Yourself With The Online Market
This is very important. Evidently users skip this step when joining the marketplace and, admittedly, so did I. Whether you are selling a domain, website or app, or are in the market to purchase one of the three, it is important to grow accustomed to the types of listings that exist.
Familiarize yourself with payment methods, fees, the newsletter, the blog, promotional upgrades, FAQ etc. Before jumping into transferring assets of any kind make sure you are familiar with how transactions are conducted on Flippa. Read through our Terms and Conditions and make sure you agree to them prior to agreeing to buy or sell. Learn what a Reserve Price is so you don’t end up selling your listing for a price you are unhappy with. Look at the advantages of our payment methods available (Flippa Escrow, Escrow.com and Paypal) and determine which method(s) suits you best.
If selling, you are encouraged to visit other listings and auctions similar to your asset and examine what information is important to display and how to best relay that to potential buyers. Take your time in creating a listing and edit The Sellers Notes section carefully as you will not be able to change this once the listing is live. Be prepared to back-up any traffic & revenue claims you make associated with your listing.
The world of online assets is a very broad and fast paced one so before jumping right in or even dipping your toes in, conduct the adequate research first. It is easy to become familiar with the online marketplace and should not be a timely process for anybody remotely tech savvy. Judging by the problems a lot of new participants experience, examining how the market works and how business is conducted on Flippa before bidding/listing is highly recommended.
Below I have compiled a list of the available listing options Flippa provides.
Auction Listing: $15
The Seller can display preferred information in the auction’s description. Once you pay the initial $9, if your listing does not sell you can re-list it once for free; subsequent relists cost $5. Rest assured that you can always update how your asset is listed on Flippa, whether continuing its auction cycle or bringing it over to a non-auction (classified) listing.
Classified Listing: $15
Non-auction classified listings do not display any information about the asset, like an auction does. Classified listings are free of charge which is always a bonus and offers low maintenance for the Seller; but only opt for this if you are willing to be patient.
First determine if your website is a Starter Site or an Established Site. If listed incorrectly, the seller will have to cancel the existing auction and re-list correctly which is obviously not ideal or time efficient.
A Starter Site can be defined on Flippa as a newly-created website under 3 months old. You will not be able to claim revenue on a starter site. If your Starter Site does have significant traffic or revenue it may be listed as an Established Site under certain circumstances. An Established Site is defined as 3 months or older so traffic and revenue numbers are very important to display to potential buyers.
First determine if the website is an Established Site or a Starter Site. Setting up a classified listing is a much quicker and easier process as opposed to an auction. Auctions are a lot more time-consuming and fast paced. Classified listings are easier to manage with a ‘set it and forget it’ kind of method whereas auctions offer a much more hands-on method.
Starter site auction: $15
Established site auction: $15
Similar to a domain auction, sellers can display more crucial information to potential buyers like Google Analytics, AdSense earnings and profit claims.
In the next installment of the Beginners Guide I will be delving deeper into the world of the online marketplace.
This is an ongoing and interactive Beginners Guide, so you are encouraged to get involved and email [email protected] with any problems/queries you’re experiencing or suggestions for material to be featured in the coming weeks. Maybe something you had great difficulty understanding or overcoming when you first joined Flippa, or any advice you would personally offer to new participants.
Flippa offers such an extravagant and vast platform to facilitate buyers and sellers like no other. The marketplace is current, relevant, opportunistic and ever-expanding so become familiar with how it works to ensure you’re knowledgeable and confident in navigating it. The possibilities are endless.
Got it? Head on to our Beginner’s Guide Part II.
Ready to start bidding? Head to the Flippa Marketplace and check out our Editor’s Choice listings.
Any more enquiries, reach out to us here.