On July 4th, Flippa launched First Access, a new premium buyer subscription as we look to enhance both the buyer and business owner (seller) experience on Flippa.
Who does this impact? The subscription impacts business and asset owners who are asking between $10,000 and $10 million only. Asset owners selling assets under $10,000 have not been impacted by the change.
Did you know that the average listing on Flippa receives more than 50 enquiries? This is a lot and can sometimes be overwhelming. Accordingly, the First Access product is designed to enhance your experience as a seller by segmenting your campaign into two distinct periods, first access and all access.
The product provides paying buyers with an exclusive preview of deals before they go live on the platform. While some sellers may express concerns about this feature potentially reducing their initial access to buyers, it is important to understand the overall benefits this subscription offers and how it does not change the probability of sale.
This guide aims to outline the advantages for sellers and clarify why First Access can be a valuable tool in maximizing the potential of your assets.
The Benefits of First Access
1. Enhanced Visibility to Quality Buyers
By granting First Access subscribers an early look at deals, sellers gain the advantage of showcasing their assets to a group of committed and serious buyers. These buyers have chosen to invest in the subscription (or have a strong purchasing history), indicating their intent to actively seek valuable opportunities. As a seller, this means your assets are exposed to a targeted audience of motivated buyers who are more likely to make a purchase.
2. Increased Competition and Higher Bids
First Access creates a sense of exclusivity and urgency among buyers. When a limited number of buyers gain access to a deal before it goes live, they may be more inclined to make competitive offers to secure the asset. This can potentially drive up the bidding competition, resulting in higher sale prices for sellers. The increased competition among serious buyers can be a significant advantage for sellers looking to maximize the value of their assets.
3. Efficient Sales Process
The early exposure to First Access subscribers streamlines the sales process for sellers. Instead of waiting for deals to go live and then engaging with potential buyers, sellers can connect with interested parties during the preview phase. This allows for early negotiations, discussions, and potentially faster transactions. By connecting with committed buyers upfront, sellers can save time and energy by focusing on the most promising leads.
4. No Change in Probability of Sale
One concern some sellers may have is that offering First Access to buyers will reduce their chances of selling their assets initially to a broader audience. However, it is important to note that First Access does not affect the probability of sale. Once the initial preview period ends, the assets are made available to the wider marketplace, including all potential buyers who did not have First Access. Flippa’s matching engine ensures the most relevant buyers regardless of status are made aware of your asset or business.
Flippa’s First Access subscription offers numerous benefits to sellers by providing increased visibility to quality buyers, fostering competition, and streamlining the sales process. While some sellers may worry about reduced access to buyers initially, it’s crucial to understand that First Access does not change the probability of sale. It is an additional tool that complements the existing marketplace, maximizing exposure to motivated buyers while still ensuring all potential buyers have a fair chance to participate in the purchasing process. Embracing First Access can ultimately lead to faster sales, higher bids, and a more efficient selling experience for Flippa sellers.
