Maybe I’m just a snob, or (more likely) there is a huge problem going on right now with novice site flippers. Have any of you Sitepoint trolls (like me) noticed the overwhelming amounts of junk that are littering the marketplace lately? Newbie site flippers are jumping in to the Site Flipping arena feet first, and they are never going to make a dime doing things their way.
There are more crap sites on the market now than I’ve ever seen before, which is a good thing… for the rest of us. These novice site flippers are going to burn themselves out by churnining out junk site after junk site that doesn’t sell, and doesn’t appeal to the buyers at the marketplaces their targeting. Why is that good news? Well, for one, the marketplace is SATURATED… let me clarify because I’ve been on record saying the complete opposite. The market is saturated with junk, this is true, but the number of junk sites outnumbers that of quality by at least 10 to 1. Know what this means? If you are making quality sites, you are cashing in right now with the influx of junk. So, while I don’t feel that the market is saturated as a whole, I do feel that there is too much junk out there.
Junk sites just make the quality sites that I, and many others that read this blog and belong to Blog Flipping Blueprint, create more valuable. For example, I had a site that I sold recently that went for $3,100. This site was worth about half that, and that’s fully what I expected to get. Did I somehow snag a noob that couldn’t value a website? Nope, I sold it to “National Lampoon”, the humor giant. They obviously know their stuff, so how did I get double the value for this site? It was quality. And like it or not, quality is always worth paying for, especially when there is a marketplace full of junk.
I can’t wait for more and more of these novices to try to peddle their crap in the marketplace. The people that make quality sites are only going to make more and more money. When you look at crap sites all day, once you find a valuable one you are 100 times more likely to go after it, no matter what the asking price (within reason). Are you following along?
The quickest and easiest way to improve value in a site flip is by using quality images. From the header all the way down to having images within each post. If you are trying to sell, you have to add some curb appeal. Don’t skimp on design… there are other ways to cut corners and save money, but cutting the design budget is almost always a no-no.
One of my favorite stories just happened recently. A reader (who will remain nameless) emailed me and told me about a site that he listed on Sitepoint. This was the third time he had to relist it, because he got no bites the first two times around. So he asked me, “What am I doing wrong”. The content was great, the domain name was solid, and the on page seo was wonderful. He was asking $250 for this site, and it was about 30 days old. Those of you that follow me on Sitepoint know, that I get $1,500+ on 30 day old sites, over 90% of the time. So what was his issue? Design. The theme was free, and it looked like a Wordpress 1.5 theme. Old, poor coloring, and a plain text header. It was awful. I informed him that if he got a professional header, changed themes, and then added an image to each post on the front page… he’d get double or even triple his asking price.
I’d like to tell you that this story has a happy ending, and it does, just not for the seller. He refused to listen, relisted it a 3rd time… no bites and then he comes back to me with another email. “Will you buy this site for $100?”… Absolutely! I changed themes, added images to the 40 posts that he had on the site (all were 500+ words, and commissioned a professional looking header design.
Needless to say, I listed the site shortly after I bought it. I put about 2 hours of work in on the site, and my total costs were around $180 after Sitepoint listing fees, and the purchase of the graphics, and the site itself. 48 hours later, the site is listed… and three hours after that - SOLD! I’m happy to report that I sold that site for $2,000. Maybe he should have listened?
Moral of the story, sell quality. The market can be saturated with junk, and quality sites will always make you money.