How to know if you can do business with someone?

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With any business deal, one of the most important factors to consider before entering into a transaction is whether you think you can successfully do business with the other party. This adage holds true for both buyers and sellers in an online marketplace. Of course, the foundation of a successful transaction is mutual trust. 

Below are some helpful tips for both buyers and sellers to consider. 

As a Buyer
Before placing a bid, you should first evaluate the legitimacy of the seller. To avoid entering into an unsuccessful transaction buyers should consider the following questions.

  • Does anything in the seller’s feedback raise any doubts?
  • Does your due diligence generally support the seller’s claims?
  • Does the seller appear to answer questions honestly and accurately?
  • Does the listing description appear the describe the listing honestly and accurately?

As a Seller
Before accepting a bidder, you should first consider whether you trust this user will follow through with their bid. Unfortunately, some bidders fail to understand that their bids and offers are legally binding. To avoid entering into a transaction with a non-paying or troublesome bidder, sellers should consider the following questions.

  • Does the bidder seem unnecessarily demanding? 
  • Does anything in the bidder’s feedback raise any doubts?
  • Has the bidder expressed a legitimate interest in the property?
  • Does the bidder have the necessary resources to complete the transaction?
  • Does the bidder have the necessary technical knowledge to successfully operate the site?
Please see the following links for additional resources that can help you evaluate other users:
https://support.flippa.com/hc/en-us/articles/202470074-How-Do-I-Research-a-Flippa-Seller-
https://support.flippa.com/hc/en-us/articles/202469924-What-does-a-user-s-status-mean-on-Flippa-
https://support.flippa.com/hc/en-us/articles/202469994-How-Do-I-Interpret-Flippa-s-Seller-Feedback
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