After your newly-revitalized website is back in the game, when and how you sell it is entirely up to you. If your site is a hit, someone may proposition to buy it with an offer you simply can’t refuse. Or if that doesn’t happen, you may post a Site for Sale notice on the site itself to make people aware that the site is up for grabs or you can use the market places which you used before in finding sites to flip. When to sell is also crucial, as you’ll command a better price if the site has rising traffic and membership figures and it boasts of increasing revenues.
As in buying sites, there are preparations necessary when you are about to sell your site.
You must prepare the documents that buyers require, such as proof of domain and site ownership, screen captures of the site statistics and revenues from verifiable sources. Some buyers may also want information on liabilities relating to the site if any and on people who helped you put up the site (in case something breaks down and they need their help in putting the site back on track). You also need to do the research cycle once again to objectively asses the current value of the site, using the same online tools you used when you were looking for websites to buy. As before, these tools are just there to aid you and it is still up to you to set a reasonable asking price.
After determining the price, you can now post the Site For Sale notice (if you’re not in a hurry to sell) or list the site in marketplaces (if you need to sell it fast). Or you may even consider premium listings in which you pay a little more than ordinary listings but which assure you of better company and less dross. In listing your site, you need to indicate the basic info about it: years in operation, audiences and traffic stats, user base, income and reason for selling. Basically, the more information you give, the better. However, you should also exercise prudence as divulging too many details may make it possible for unscrupulous people to copy your idea.
You should also set a reasonable duration for the auction – between 1 to 2 weeks is fine- to allow more people to bid. Publicizing your auction wherever you can would optimize your chances of getting the best price. Setting a reserve and base prices, aside from your valuation of the site is a good idea too. The reserve price will serve as your gauge on how people appreciate your listing while the base price will be the minimum price in which you would sell the site, putting into consideration the opportunity cost and personal circumstances that relate to maintenance of the site.
If the auction ends and you get the price you wished for, well and good. But if it doesn’t turn out the way you’ve planned it, don’t despair. Buyers may still contact you after the auction to make another offer. Or you can try other marketplaces. But you should take note of comments from potential buyers during your auction, as they can give you insights that may necessitate rethinking of your strategies or pricing structure.
The final activity you will need to do is negotiate with potential buyers. You’ll need to show your documents, proofs of your site’s value and other information needed by the buyer. After you’ve agreed on price and terms, you have just become a bonafide website flipper.
