Managing Your Auctions on Flippa

Conducting an auction properly gives you the opportunity to improve the final auction price and set up a smooth transition of the business to the buyer.

Communications

Buyers are more likely to bid and bid higher if they trust the seller.

Communication tips:

• Be honest and transparent. Provide clear, factual answers to questions.
• Monitor messages and comments closely so that you can answer as quickly as possible. If you provide fast responses during the auction buyers will trust you to be timely and helpful after the auction.
• Be completely professional. Always respond graciously even when questions are repeated, uninformed or rude.
• Responding to private messages is an opportunity to build relationship with potential buyers. This personal messaging can increase a buyer’s desire to do business with you.
• Keep all communication on Flippa. While users may ask to talk on email or services like Skype, this means Flippa’s support team won’t be able to monitor communication or check back if something happens during the auction or the transfer of ownership.

Accepting Bidders

The first time a person makes a bid, you will have an opportunity to approve the bidder. It is a good idea to look at the profile of each bidder before you accept or reject them. Their profile reveals their history on Flippa.

Note, you will not be able to see the amount of a new bidder’s bid until you’ve accepted them. After you accept them, they can make future bids on the auction without any action on your part.

You may send a private message to anyone who has bid on your auction. It is good practice to send an initial message thanking them for the bid and offering to answer any specific questions they may have.

Keeping Buyers Engaged

Sellers that stay active during the auction attract more bidders and come away with a higher price.

Tips for engaging in the auction:

• Add attachments showing updated sales and traffic information.
• Comment on the auction providing additional information or clarification.
• Via private message, ask the more serious buyers what they are concerned about and what they like about the website you are selling. Respond to their concerns and address the potential objections in public comments if appropriate.
• Purchase a promotion like a homepage listing or twitter blast to attract more bidders.
• Contact bidders who have not been actively communicating.

Sales Contracts

You or the buyer may want to use a sales contract to make sure all of the conditions of the transaction are clearly communicated and enforceable. Flippa provides a sample contract of sale or you may use your own. If you use Flippa’s document, make sure and read it first, and add any specific items that are included in your website. This may be inventory, post-sale assistance, documentation, or anything else you have agreed to provide to the buyer or the buyer has agreed to provide to you.

Content supplied by Jeff Hunt.