If you spend any amount of time on the internet, I'm sure you're noticing that site flipping is quickly becoming all the rage. Simply stated, website flipping is similar to real estate flipping in that someone buys a piece of property, adds some value to it and the quickly sells it for a profit. Whether you're the buyer or the seller in the transaction, it all comes down to the almighty dollar and ROI, return on investment.
If you've looked into site flipping at all, I'm sure you've heard of a place called Flippa. They are an online auction service, trying to pattern themselves after eBay, that specializes in online properties like blogs, websites, domain names, eBooks, you name it. If it's virtual property, you can sell it there.
Comparing their auction system to eBay's is like comparing charcoal to diamonds. They do charge you a listing fee, a pretty hefty listing fee I might add, and they do let you set your own time limit on your auctions. They also allow you to set minimum bid amounts and reserve limits. But that's as far as the similarities go.
For one thing, Flippa has what they refer to as a verification process in place that my dog could pass. when you register with them, their method of determining that you are who you say you are is to send a code number to your telephone. You then enter that code number into their system and they say, Hey, yeah, it really IS Mickey Mouse. Go ahead, give him an account. Puh-leeze! The only other verification they do during the entire transaction process, is to have you place a file onto the root of the site you're selling so they know you have access to the database. Now this doesn't seem all that secure to me, but, hey, I'm not a programmer, so I'll let this one slide.
At this point, buying and selling on Flippa is a little like stepping into a street brawl. There are no monitors, there are no rules. It is survival of the fittest and you better be on your toes. Whether you are buying or selling, they have no control process in place, no monitors watching the listings, to prevent the person on the other side of the transaction from lying, cheating, and manipulating listings and pretty much just giving you their best shot right below the belt. Sites that are less than 24 hours old are listed as Premium Domains. Blogs that are nothing but the default Wordpress theme and a couple of PLR articles are listed as Unique, Customized Websites. And buyers will swoop in at the last minute to win the auction, then, after they've uploaded the site, they'll file a dispute so they won't have to pay for it.
Flippa's non-management of comments and feedback leave the sellers totally at the mercy of the buyers - with their neck's exposed! Comments are not monitored at all and ruthless scammers like to dive bomb listings in an attempt to keep the bids down so they can swoop in at the last minute and get those sites for themselves. Deleting negative and spammy comments, though, only makes the seller look like they have something to hide. And feedback? That's a joke. Sellers are motivated to leave feedback in the hopes that the buyers will actually PAY for the site and maybe leave them a kind word in return. What motivates the buyer to leave feedback? Nothing. You're lucky if they actually PAY you.
Their method of ending an auction is also questionable. You never really know when the auction is going to end. If you're a seller, you have to sit for hours, watching to see if someone bids, because all bids require the acceptance of the seller. But if you're a buyer, this system is even more frustrating. If you wait until the very last minute to place what you think is going to be the winning bid, they add 4 more hours onto the auction!
According to the stats that they list on site, they processed sales in excess of $110,000 within the last week. For a site that does that much business, you'd think they would have better control over the final transaction, the part where money and property exchange hands. But they are not concerned if either party in the transaction is ever satisfied. They got their money from you when you listed the site. In the end, it's up to the buyer and the seller to work out the details and transfer the funds and the property. Filing a dispute with Flippa if one of those parties does not comply often results in a vague answer, IF you get an answer at all.
In my opinion, there should be a better way of handling these on line virtual real estate transactions. Site flipping is becoming too popular for shoddy sites like this to continue taking our money and running. Ther are other auction sites available, but they're even worse than Flippa. But I've noticed lately that there are an awful lot of sites listed with not so many bids. A lot of sites aren't getting any bids at all. Are the buyers getting smarter? Or is it the sellers who are getting smarter? I think it's the QUALITY sellers, who have had enough of the shoddy business practices at Flippa, finding better ways to conduct their transactions, and they're taking their QUALITY buyers with them. I think Flippa better either step up or step out! - 16890
If you've looked into site flipping at all, I'm sure you've heard of a place called Flippa. They are an online auction service, trying to pattern themselves after eBay, that specializes in online properties like blogs, websites, domain names, eBooks, you name it. If it's virtual property, you can sell it there.
Comparing their auction system to eBay's is like comparing charcoal to diamonds. They do charge you a listing fee, a pretty hefty listing fee I might add, and they do let you set your own time limit on your auctions. They also allow you to set minimum bid amounts and reserve limits. But that's as far as the similarities go.
For one thing, Flippa has what they refer to as a verification process in place that my dog could pass. when you register with them, their method of determining that you are who you say you are is to send a code number to your telephone. You then enter that code number into their system and they say, Hey, yeah, it really IS Mickey Mouse. Go ahead, give him an account. Puh-leeze! The only other verification they do during the entire transaction process, is to have you place a file onto the root of the site you're selling so they know you have access to the database. Now this doesn't seem all that secure to me, but, hey, I'm not a programmer, so I'll let this one slide.
At this point, buying and selling on Flippa is a little like stepping into a street brawl. There are no monitors, there are no rules. It is survival of the fittest and you better be on your toes. Whether you are buying or selling, they have no control process in place, no monitors watching the listings, to prevent the person on the other side of the transaction from lying, cheating, and manipulating listings and pretty much just giving you their best shot right below the belt. Sites that are less than 24 hours old are listed as Premium Domains. Blogs that are nothing but the default Wordpress theme and a couple of PLR articles are listed as Unique, Customized Websites. And buyers will swoop in at the last minute to win the auction, then, after they've uploaded the site, they'll file a dispute so they won't have to pay for it.
Flippa's non-management of comments and feedback leave the sellers totally at the mercy of the buyers - with their neck's exposed! Comments are not monitored at all and ruthless scammers like to dive bomb listings in an attempt to keep the bids down so they can swoop in at the last minute and get those sites for themselves. Deleting negative and spammy comments, though, only makes the seller look like they have something to hide. And feedback? That's a joke. Sellers are motivated to leave feedback in the hopes that the buyers will actually PAY for the site and maybe leave them a kind word in return. What motivates the buyer to leave feedback? Nothing. You're lucky if they actually PAY you.
Their method of ending an auction is also questionable. You never really know when the auction is going to end. If you're a seller, you have to sit for hours, watching to see if someone bids, because all bids require the acceptance of the seller. But if you're a buyer, this system is even more frustrating. If you wait until the very last minute to place what you think is going to be the winning bid, they add 4 more hours onto the auction!
According to the stats that they list on site, they processed sales in excess of $110,000 within the last week. For a site that does that much business, you'd think they would have better control over the final transaction, the part where money and property exchange hands. But they are not concerned if either party in the transaction is ever satisfied. They got their money from you when you listed the site. In the end, it's up to the buyer and the seller to work out the details and transfer the funds and the property. Filing a dispute with Flippa if one of those parties does not comply often results in a vague answer, IF you get an answer at all.
In my opinion, there should be a better way of handling these on line virtual real estate transactions. Site flipping is becoming too popular for shoddy sites like this to continue taking our money and running. Ther are other auction sites available, but they're even worse than Flippa. But I've noticed lately that there are an awful lot of sites listed with not so many bids. A lot of sites aren't getting any bids at all. Are the buyers getting smarter? Or is it the sellers who are getting smarter? I think it's the QUALITY sellers, who have had enough of the shoddy business practices at Flippa, finding better ways to conduct their transactions, and they're taking their QUALITY buyers with them. I think Flippa better either step up or step out! - 16890
About the Author:
Flip Diva and Deschain are fed up and they're not going to stand for it anymore! They invite you to visit them at their new site, Sell It With A Blog, where they're taking Site Flipping to a whole new level!
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