How to Sell Apps – FAQ

General FAQs:

Got Questions?  We have answers!

Are listings and ads purchased tax deductible?

Yes, in most cases all ad purchases are tax deductible. We provide receipts for all transactions. As always ask your tax accountant for advise as laws may vary from country to country.

Do you provide escrow services to help with the exchange of code and funds?

Yes. We have partnered with escrow.com to help provide a neutral 3rd party to help with the transfer of funds and code for those buyers/sellers that require this service.  In these cases sellmyapplication.com will server as the broker to help facilitate the transaction.  There is a fee associated with this service in the form of a commission (depends on the size of the transaction).  Contact us for more details. The basic steps are as follows:
  1. Broker, Buyer, and Seller Agree to Terms The Broker (sellmyapplication) sets up the transaction, which includes a description of the product, sale price, broker commission, number of days for the Buyer's inspection, and any shipping information.
  2. Buyer Pays Escrow.com The Buyer submits payment by wire transfer. Escrow.com verifies the payment.
  3. Seller Sends Code or Product Upon payment verification, the Seller is authorized to send product. Escrow.com verifies that the Buyer receives the product.
  4. Buyer Accepts the code and/or product The Buyer has a set number of days for an inspection and the option to accept or reject the delivery. For more information, FAQs - Return Questions.
  5. Escrow.com Pays the Seller and Broker Escrow.com pays the Seller and the Broker by method selected. The transaction is complete.

How do I buy something that I like?

At sellmyapplication.com we provide the buyer and seller an opportunity to negotiate the terms of each sale.  This gives our users a unique opportunity to evaluate each potential transaction and helps build relationships with other developers in this field.  Take full opportunity to get to know each other and develop new business relationships that you may mutually benefit from in the future. To contact sellers you will want to register and use our contact seller module found on each ad page.  You will then communicate via private email.  Once terms are mutually agreed upon you will coordinate the exchange of code and funds to complete the transaction.  Each transaction is different and unique.  For larger transactions we recommend using escrow and legal professionals where appropriate. To date we have had hundreds of successful transactions and many success stories. As always we are always looking for feedback and love hearing about all of the success stories.  Keep them coming!

Why doesn’t my ad show up immediately after payment?

We review all ads prior to publication to make sure they meet our requirements for listing on our site.  All ads that are approved will be listed within 4 hours of submission.  If you're ad does not show up within 4 hours please contact us immediately so we can review.

Do you take any commission from sales?

No!!  We take no commission from sales!  This is one of the key differentiators we bring to the table.  You can sell as many licenses to your code as you want and you keep 100% of the profits.  We only charge a small listing fee to post an ad and that's it!  Most of our revenue comes from advertisements so if you like our marketplace don't forget to visit our sponsors :)

Can I edit my ad after I post it?

Yes!  You can edit your ad as many times as you want during the ad listing period as long as you continue to follow the rules for posting ads within our marketplace.  You will be in complete control of your listing.  Be sure to follow our tips for posting a successful ad so you can get as many potential buyers to contact you as possible.

Software License Types

We often get questions about what types of licenses folks are selling on sellmyapplication.com. At sellmyapplication.com it is up to the buyer and seller to negotiate the terms of the sale and any licenses being provided for use of the code or any other intellectual property being offered within our marketplace.  Some licenses are quite simple while others can be complex and may require a legal professionals opinion.  We don't provide any legal advise and it is up to the buyer and seller to work out all of the term and contact legal help if required.

We've outlined just a few examples of the types of licenses that have been used to sell apps within the sellmyapplication.com marketplace.

Tips on Selling your App

Here are the top 10 things you can do to help increase the chances of finding a buyer for your app using our marketplace: 1) Choose a short but descriptive title for your ad.  Try to keep the title to no more that 40 characters.  This will be the first thing visible to potential buyers as well as for search engines indexing our site.  Choose something that descriptive and includes some key words that can be searched on. 2) For the description of your app business include the most important details in the first few sentences.  The first few sentences will be visible in the short view and should include the key elements of what is for sale as to entice potential buyers to click the "Details" button to take them to the full ad description. 3) Participate actively in our community!  Post comments, ads, contact sellers, provide feedback for site or users, post blog posts, view many ads and connect with as many folks as possible.  Each user will be rewarded with badges for various activities and points they generate.  This increases your reputation on our site which makes potential buyers more likely to want to do business with you. 4) Place tags (keywords) in the tag field. 5) Place your ad in the correct category. 6) Set a reasonable price!  This is one of the most important factors that determines success with finding a buyer.  Many users don't accurately price their app for a variety of reasons. If your app doesn't have revenue or a user base it can be difficult to value.  Provide details that explains how you get to your valuation to help potential buyers understand the value. 7) Publicize your listing!  Use your social media connections, post a link back to your ad on your website, send emails out to your friends, or any other method you have that can put your ad in front of as many people as possible.  It's important to put up a "For Sale" sign up to help get visibility. 8) Set expectation appropriately. Most apps that are priced properly take about 30-60 days to find potential buyers. 9) Try to keep your ad near the top of the list whenever possible.  Use the "Bump This Ad" button to push your ad back to the top of the "Just Listed" ads.  Ads at the top usually get more attention than ads that are on the second or third pages. 10) If you sell your app ask the buyer to rate you so you can get more points and badges to help you increase your reputation for future purchases.  Let folks know that you are highly rated.  

What are the User Feedback, Badges, and Reviews?

Users can earn points and get ratings by completing certain tasks or hitting various milestones within our marketplace.  The more points you get the higher your reputation.  Encourage folks you've directly worked with to leave feedback.  Positive feedback will help you with finding new buyers, sellers, or new business partners for your next venture. More information on user ratings and what how to obtain badges and honors within our marketplace you can visit: http://www.sellmyapplication.com/user-ratings-and-badges/  

Can I use sellmyapplication as my app broker?

Yes!  For many of our large clients or clients who don't want to negotiate directly with buyers we can serve as your trusted 3rd party broker.  We will do all of the marketing, research, and postings to our various developer networks to find the right buyer for you.  We will help with the negotiations, transfer of code, and funds to complete the transaction.  We will work and communicate with the seller to find the right buyer for their app business. For this service we charge a small commission of the final sales price.  There is no cost if we can't find a buyer for you.  Contact us for more details.

Why should I post my app business on sellmyapplication.com?

There are many reasons to post your app business for sale on sellmyapplication.com: 1) Over 100,000 unique page views per month 2) Over 20,000+ registered users 3) Targeted audience of mobile app developers and business entrepreneurs 4) Get a link back from our high ranking site 5) Benefit from our online marketing and social media outlets 6) Reach influential leaders and investors in technology 7) Get your app greater exposure to a large user base

Are there any rules or posting guidelines we should be following when using sellmyapplication.com?

Yes.  We have posted some rules and etiquette we should all be following when posting or responding to ads.  We have also outlined the complete terms of service we must all abide by when interacting with our community.  We ask all members of our site to report any behavior that they think violate any one of our rules or terms of service.

Can I sell an app that is not currently in any appstore?

Yes!  You will want to make sure you have a method for buyers to test your application before they purchase.  Tools like http://testflightapp.com will allow you to distribute your app to potential buyers so they can run it for themselves.  Other methods could include generating a youtube video or setting up a web conference where they can watch your desktop or control your app remotely.  This will be up to the buyer and seller to organize so each feels comfortable with the product that is being bought or sold.

I am looking to have an app built, can you help find me a developer?

Sure, we have tons of friends and connections in the mobile industry and would be more than happy to connect you with any resources you need. Of course development is one that comes up most often, but we also have marketing, advertising, monetization, and design partners.  You can also post a job posting on this site to gain access to the thousands of developers who our registered with us.

What is currently allowed and not allowed with regards to transferring ownership of apps in the Appstore?

This is an evolving area and many of the popular appstores are now adjusting to the demand from developers who are interested in transferring/selling their app business to other investors.  We have outlined a few current polices that Apple’s appstore has in place as it relates to transferring ownership.

Will SellMyApplication.com help me with the transfer of code or apps to the app store?

Sellmyapplication.com is the facilitator for connecting buyers with sellers.  We provide a platform to connect you with as many buyers and sellers as possible.  We can also assist with the transfer process as required.  We actually get this a lot as people realize the importance of having legal protection, security, escrow services and a transfer specialist to advise you through the process.  There is a fee for this service.  For more details you can contact us.

How do I get my app featured on the home page?

When initially listing your app for sale you’ll have an option to pay a small fee to become featured at the top of every page.  If you decide to upgrade your listing after you’ve already posted your ad feel free to contact us and we can take care of it for you.

What if I do not know how much to sell my app for?

This is a difficult question to answer and will vary depending on many different factors.  We are in the process of building a tool that easily (and automatically) provides you with an app valuation recommendation. Deciding on a fair and reasonable price is a critical step for getting interested buyers to contact you.  Be realistic when coming up with an asking price or you won’t get any responses.  Here is a guide to help you develop the correct price for you app.

What forms of payment are accepted?

For posting ads to our site we accept all major credit cards.  We now also accept PayPal and Google Checkout.  In fact paypal is the preferred method since you can also use a credit card via paypal without having a paypal account.  As for the buyer and seller transaction they will need to negotiate the terms of transfer and payment methods accepted.  For small transactions we normally see paypal or Google Checkout.  For larger transactions we highly recommend the use of an escrow service to act as the middle man for the purchase and sale.

How long on average does it take to find a buyer for my app on sellmyapplication.com?

It depends on many different factors.  Typically most apps on our site are sold within 30-60 days.  Some specialized apps that have very specific functions can take much longer.  We’ve seen some apps on the market for 6+ months before a suitable buyer can be found.   Factors that can influence a sale: 1) Price of your application (the larger the price tag the longer it may take to find a buyer). 2) Category of app (Games do better than general or specialized utilities). 3) Type of license you are selling (Full transfer of code do better than more restrictive licenses). 4) Profitability (The more you can show profitability via 3rd party verified data and downloads the more likely you are to find a buyer). By far the biggest reason apps don’t sell is unreasonable price expectations.  A reasonably priced app will always sell.  Here are some tips on valuing what your app is worth.

What currency are app prices in?

All asking prices, and all bids are made in United States Dollars (USD).

How can I test an application for sale that hasn’t been published yet?

There are numerous tools out there that can help developers distribute code to allow it to be tested prior to publishing.  One of our favorite tools is TestFlight.  Ask the seller to create an account and let you test flight there app so you can try before you buy.  A seller may also be able to give you a copy of their binaries that you can run on your device or simulator.

How can I confirm the revenues or downloads a particular developer is claiming to have?

This is where it is up to the buyer to do some due diligence. As with buying any business you should ask for access to their data so you can “view their books” before you decide to buy.  There are several sites out there today that provide 3rd party services to developers to gain access to all their statistics.  For example you can ask the seller to create an account on a site like http://www.appfigures.com and have them give you guest access to the statistics for the app you’re interested in buying.  This way you can get 3rd party verification of the app data.

When buying an iPhone app from a developer will the ratings, reviews, and ranking all transfer with the app?

In some situations yes, they will. In most situations however this is not technically possible right now. There are a handful of restrictions on Apple’s end that currently make this difficult when transferring app ownership. Here is an explanation on existing ways to effectively transfer your app to buyers that will describe your best options.

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