Launched in May 1998, Elance is one of the founding fathers in the online freelancing and outsourcing sector. With over 100,000 professionals providing services, it provides access to a varied pool of talent able to meet the needs of even the most demanding clients. The pricing policy may seem expensive, but when everything is taken into consideration, it shapes up quite well compared to other sites which can take as much as 15% in commissions and offer little in return.
Elance is king when it comes to protecting both buyers and sellers. They have had a reliable and effective Escrow system in place since before most of their competitors existed (its optional, for an additional fee). Elance have recently introduced Work View (also optional) which enables clients to get snapshots of a freelancers desktop when they are working on an hourly basis. With total billings in excess of $260M USD to date, Elance is no small fry!
For Buyers
With over 30,000 jobs listed every month Elance is a favourite with buyers, the pricing structure may mean fewer bids, but they are usually of a high quality. There is a one time $10 fee to register as an employer, therein all fees are charged to providers. The sites fee structure means every bid counts for freelancers - they have limited credits each month and must pay for extra ones. This should ensure the bids you get are of a higher quality than can be found on some other sites and it certainly means your project posting will have been read with a little more attention to detail.
For Providers
Elance charges a monthly subscription fee to providers which includes a fixed number of bid credits per month. Credits are used in varying quantities of 1 - 5 depending on the value of the project which is being bid on. Additional credits can be purchased, at $0.50 per time. On completion of a project Elance levies a completion fee of only 6%, one of the lower fees in the industry. Those who request the use of Escrow services for added protection will pay an additional fee.
Employers are charged a $10 sign-up fee, so there tend to be more serious buyers than on some of the other freelancing websites which are free to post projects without so much as proving they have a credit card or are old enough to own one.
All in - Elance is one of the best freelancing sites to work on as a provider. With 100,000 providers and over 30,000 projects listed each month - there are rich pickings to be had for the best qualified and most professional amongst you.
Verdict
Elance remains one of the strongest players in the market. They adapt to changes in market conditions and reperesent the interests of buyers and providers fairly. Their pricing structure means that both the projects posted and the bids received tend to be of a lower volume and higher quality. Its a good choice for someone who does not want to spend time sifting through bids from underqualified providers, or for a serious freelancer that doesn't want to sift through hundreds or thousands of drab projects with pitiful budgets.
Top Buyer Tip
Be clear about your requirements and provide as detailed a brief as possible. One liners won't do on Elance - providers must use their limited credits to contact you to ask a question and clarify requirements - this is a strong deterrent to bidding on projects without full specifications.
Top Provider Tip
Bid competitively, but accurately, tailor your bid to the specifics of the project, pay attention to detail and when trying to build your portfolio explain you are new to Elance - but demonstrate your ability and try to reassure the buyer that you will deliver 100%.
