It’s not really fair. Flippers these days get bad rap. Real estate flippers and speculators were accused of exacerbating the housing crisis in the late 2000s, and website flippers probably don’t sound a lot better to people with only the most casual of knowledge on the topic.
But we here at WebsiteBroker.com not only recognize the importance of flipping – we see its value. After all, flippers are able to improve web sites, increase their value, or even simply sift out good potential domain buys for investors with more money on their hands. Whichever way you look at it, they are indeed providing the economy a service.
If you want to get started website flipping, let this article serve as your introduction. Here’s how you can remember the process in three easy steps.
Step 1. Finding the diamonds in the rough.
If there’s one thing good website flippers can do with consistency, it’s identifying potentially undervalued websites. After all, these websites are their primary source of income – the better the diamond in the rough, the more money they’ll make. This is one of the most critical ways that website flippers can actually help other people, because their discerning Internet eye is a skill that even savvy investors often lack.
This is, of course, not always the easiest of propositions. Finding diamonds in the rough often means searching through a heck of a lot of rough – and not confusing fool’s gold with the real deal. But if you are able to consistently find jewels where others see only dirt, then you might have the makings of a great website flipper.
Step 2. Enhancing the value of the website.
This is another critical service of the website flipper. Maybe they buy a domain name and launch a blog on it, creating value where there was none before. Maybe they simply keep the domain as-is and jack up the price; even so, this could be considered a sort of “finder’s fee.”
Selling something for more than you bought it is important in a line of work where you don’t sell either your time or your craft. You have to be able to not only identify the potential profit-makers, but actually pull in the profit after you’ve pulled the trigger. This is a key skill of the website flipper because it’s also a key element in their process.
Step 3. Making the sale.
Of course, none of this matters if the website flipper isn’t able to finally convince someone else about the value of their website and make the sale. Ripping people off is not the name of the game here: instead, finding the right match for the property is, just as it is in real estate. Making the sale means being able to find investors, pitching them properly, or at least setting the price at a fair market value in order to entice people to close the deal. It sounds a lot easier than it is, but a good website flipper can make this part of the strategy a routine.