Buying and selling websites is a common practice in the digital world. There are many reasons why owners sell their sites. When I sell my existing websites, it is because it has all the qualities of a successful website namely it has high authority and traffic. In short, it is able to bring in steady revenue.
Likewise, buying one means I am looking for a website that can drive traffic and has authority on my subject of focus. Whether I am buying or selling, hiring a website appraiser is a great move to make sure that the site I am selling is up to standards and that it can be valued at an appropriate price.
Now, not many know that website buying and selling is a common practice, especially for those who work in industries outside of the digital world. This article will talk about website appraisers, what they do, and how to become one. Keep reading.
- Learn More About Website Appraisers
- Responsibilities of a Website Appraiser
- Eligibilities for Becoming a Website Appraiser
- Work Conditions and Environment
- Looking for Website Appraiser Jobs
Learn More About Website Appraisers
To put it simply, website appraisers are basically the car evaluators of websites.
Think about it this way: when I want to sell my used car, I hire an evaluator who can determine the roadworthiness and emissions of the vehicle including the state of the engine, transmission box, bodyworks, suspension system, and others. This is so that I can sell my car for what it’s worth.
Website appraisers take a look at the website I am looking to sell and evaluate the different aspects of it to see how valuable it is so that I can place a price tag that is appropriate for its existing qualities and potentials.
For buyers, appraisers will see if the price tag is right for what the website is worth including its current state and any room for improvement.
Factors and Elements That Are Evaluated
The appraiser will evaluate a host of factors including profitability, traffic, operations, and scalability. They will also look for meta elements such as the domain name and extension, costs, reputation, links, commercial potential, rank, and the expected demand for such a site.
The result of the evaluations helps me determine how much I can sell my site for a reasonable price for my buyer if my price is reasonable enough.
Nevertheless, I find it important to note that the acceptability of the price will still depend on whether the buyer sees the value of what the website has to offer.
Responsibilities of a Website Appraiser
Given the role of website appraisers in the buying and selling process, we can definitely expect them to be meticulous in carrying out their responsibilities.
Their main duty is to thoroughly inspect the aspects of the site that can affect its valuation, particularly the opportunities and risks.
For example, I expect my appraiser to inspect the profitability of a website I am buying, including finding out if the revenue streams are diversified and the like. The same goes for inspecting the traffic and users with details such as diversity of visits, location of users, and traffic sources.
For operations, the appraiser also needs to look at the difficulty level of transferability, maintenance, supplier strength, and the necessity for other tools such as inventories.
Skills Needed for the Job
Being able to deliver a report showing all the details the buyer or seller wants to know about the site is the most important thing about this job. So, an appraiser must have strong analytical skills to be able to understand what all the factors combined can mean when valuating the site.
They should also be meticulous so as to find all the right details. To make sure that the buyer or seller will be able to understand what the data means, they should have the ability to turn the data into words in an easily understandable manner.
To this end, an appraiser should also have business sense, especially as they will be evaluating the financials and other things related to running the website as a business.
Eligibilities for Becoming a Website Appraiser
Anyone who works in the digital workspace will need a website and there will come a time that they may need to sell their website or buy one. If I want to become a website appraiser, my best chance is to gain experience in the digital field.
Keep in mind that the digital world remains to be a new area in traditional schools, so not many educational institutions offer programs for becoming website appraisers. However, there are learning platforms that offer online courses, seminars, lectures, and even programs on digital marketing.
Having certifications showing that I finished classes in digital marketing is a great way to show my knowledge about operating and evaluating a site. However, I need to highlight that hands-on experience is the best indicator of my skills and reliability as a web appraiser.
Have a Strong Portfolio
There is nothing better than having a successful website that has all the right qualities of a high-value one.
If talking with a seller, having a portfolio of high-value sites I have sold or helped sell can also show my abilities as an appraiser.
If talking with a buyer, showing them how successful the sites I sold or helped to sell is a great move.
Work Conditions and Environment
Appraisers talk with all kinds of people, from content creators who were able to develop their brand and turn their sites into a profitable one, to business owners looking to buy a website that suits their brand to use as a digital marketing platform and source of income.
To become a website appraiser, be ready to interact and negotiate with all kinds of people. As this all happens in the digital space, expect to have clients from all over the world, unless the work is with a digital marketing agency that only takes local clients.
There are challenges to this kind of work. As I have mentioned above, clients will determine whether the price of the website is acceptable or not. Sellers may argue that their website should be priced higher while buyers may want to lower the price. It all boils down to the eye of the beholder, so to speak, and the primary role of appraisers is to provide the details that can be used to evaluate the site.
Given the wide range of clients from various locations across the globe, you may need to work with your clients according to their schedule or you may need to set a meeting with them at a time convenient for you. Freelance appraisers can work remotely at home, while employed ones may need to work at an office.
This is where things can get tricky. Let me remind you that appraising a website takes a lot of skill and time. However, there is no set pricing for website appraisals so as an appraiser, I need a lot of research to arrive at a fee that is justified.
The fee can be influenced by a number of factors including my skill, expertise, and experience. The more of these I have, the higher my fee could be. Moreover, the turnaround time for the report also plays a role. A rushed order can be pricier than one with a farther delivery date. Lastly, the size of the order also matters. An older, larger website can be more difficult to appraise, making the fee higher.
Depending on the extent of the order, I can charge anywhere from $100 to $1,000 dollars or even upwards of $10,000. Again, keep in mind that the fee can vary vastly. Plus, clients can appeal for a lower rate, so I need to make sure that I know what my skills and time are worth.
Looking for Website Appraiser Jobs
The best way to look for appraiser jobs is by looking at online job sites. Those looking for employment can take a look at reliable job-seeking sites such as Glassdoor, Indeed, Monster, and FlexJobs, just to name a few.
These sites let me search for openings just by using the built-in advanced search tool in which I can enter the job title, location, and salary range I am looking for. This is the best and easiest way to look for a website appraiser job opening with just a few clicks.
Freelancing Sites to Check Out
Another great way to work as a website appraiser is to do freelance work. I can offer my services not as an employee of a company that offers appraisals, but as an individual contractor that provides such services.
There are a lot of sites that can help me find gigs including Freelancer.com, Upwork, Fiverr, and many more.
Paving my way to becoming a website appraiser can be challenging but worthwhile.
Knowing what it takes to become one, I can start working towards this goal and slowly become a successful website appraiser for a company or for clients.