When it comes to buying and selling, the aim is to buy low and sell high.
And, with the right specialised knowledge, you should be able to buy and sell absolutely anything.
Some things however, are easier to buy and sell than others. Property is a great example, as are used cars.
The idea here is that you purchase such items, fix them up as best you can while keeping costs low, and then sell them on, hopefully for a decent profit.
Now, did you know that there is also an astonishing amount of money to be made in the buying and selling of websites?
It’s MASSIVE – a trillion-dollar industry that we all use every day, but don’t realise that we could be investing in and making some of those profits for ourselves!
Today, I wanted to share with you some insider tips on how to get into the lucrative website buying and selling industry, to help make things easier.
#1. Know Where To Look
– One of the first things you need to do when it comes to buying and selling websites is know where to look to purchase the websites in the first place.
Websites can’t just be purchased from your typical e-commerce store, although we’re sure Jeff Bezos of Amazon will probably have something to say about that very soon.
No, websites need to be purchased from specialist websites dedicated to the buying and selling of websites properties.
But a word of warning. Finding a good website broker, signing up for an account, then jumping in and buying something for a few hundred bucks isn’t the answer. Far from it. Besides knowing where to look, you need to know what to look for, as well!
#2. Do Your Due Diligence
– In most cases, you’ll only want to be buying websites that are profitable and attractive to buy.
So make sure it has an appropriate domain name, the analytics must be current and accurate, and the site must have a history of generating revenue previously – preferably without too much fluctuation.
Affiliate performance and historical results will prove very useful to buyers. You also need to see how secure the site is, and how reliable. Was the site active all of the time or does it have a history of downtime sporadically? Where does the traffic flow from and can this be improved? Ideally you want a website with multiple traffic sources as this shows that the site has reach.
#3. Making Contact With The Seller
– Before buying a website, it’s always a good idea to speak to the seller directly and find out as much info about the site as possible, and of course, about the seller. Do they seem genuine and trustworthy, or are you getting a bad feeling that something isn’t quite right?
Ask them if they can provide details about the analytics of the site so you can prove how much traffic it receives, where said traffic comes from, and how much revenue it generates on average. The more you can prove about the credibility and efficiency of the website, the more likely you will be to profit from owning it.
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#4. Work On The Site Yourself
– When people purchase a property in the hope of flipping it for a tidy profit, they almost always have to spruce it up, to make it more appealing to potential buyers. The property is often renovated; any repairs needed to be carried out are carried out; it’s refreshed and brought up to sellable standards.
In most cases, you have to spend money to make money, and this same principle applies to websites. Once you own the site, you’ll likely need to get to work on making it more appealing to potential buyers.
This is where it pays to hire professional web designers, copywriters, and SEO experts to improve the performance and analytics of the site in general.
You’ll also want to show that it has the potential to generate revenue from multiple sources.
#5. Don’t Get Greedy When Selling
– Some web domain names are incredibly expensive and lucrative. CarInsurance .com for example, is reportedly worth $49.7 Million.
There is absolutely money to be made from owning and selling the right domain, but the truth is, you’re unlikely to make anywhere near that.
You own the site, so you can advertise it for sale at whatever price you like, but that doesn’t mean that people are going to pay what you ask.
Do your research, see how much similar websites / domain names are selling for, and list your site accordingly.
If you get greedy, you’ll tick potential buyers off and it will be very unlikely that you will make a sale. If you price the site fairly, people will likely jump at the chance to own the website in question.
#6. Repeat As Necessary
– Once you’ve bought and sold your first website, simply repeat the process all over again. Some sales will go better than others, and some you may even lose money on – but with the right process in place, this shouldn’t happen.
Buying and selling websites can make you a LOT of money – but I’m banking that when done right, buying and holding websites for positive cashflow will be your strategy of choice.
To Your ‘Online’ Success
PS. Remember to check out how website investment experts, Matt & Liz Raad, buy, renovate and sell websites for a profit… and how you can too! It’s free, online and lasts about 60-minutes. You can check it out here