What Are Some Tips For Buying A Domain
A good rule of thumb is to focus on domain names in which businesses in a niche will find value. If youre a beginner and new to selling domain names, dont rush into buying or selling. Do your research to ensure a domain will provide value to a business owner in a specific niche.
A big mistake many investors make early on is expanding their portfolio too quickly into niches theyre not interested in but feel will be more profitable. Nail one niche youre knowledgeable in and then scale into others where research is easy with widely available industry information.
That said, here are some tips for buying a domain.
How Much Can I Sell A Domain Name For
This refers to whether companies can easily use domain names to help them in marketing.
Youll also need to consider where your domain is a TLD or Top-Level Domain. These have popular suffixes, such as .com or net.
While domain names can sell for any amount, premium domains cost around $5,000 to $20,000. Some domains even sell for at least $100,000.
Alternative Websites to Sell Stuff
Domain Flipping Takes Time To Learn
Just like any other field of business, you need relevant experience to become a successful domain flipper. Buying domain names and then selling them at a higher rate is not a piece of cake. You need to stay under the radar for at least a year and learn everything related to domain flipping before you can start selling domains for a profit.
In the beginning, you will make several major blunders like losing money over useless domain names, missing prospective deals and much more but slowly, you will get the hang of it. The road to flipping domains for sums is not easy you need to climb a steep learning curve before you can become a pro.
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Can I Sell My Domain Name But Keep My Website Online Too
Absolutely. The great thing about GetDotted’s domains for sale service is that you get to choose how everything works. As well as specifying a price to sell for , you also get a choice between keeping your current website up and running or having a free ‘holding page’ which will neatly present that your domain is for sale to any visitors.
Sell The Domain Name Privately
The first option is to sell domain names without involving any third parties. When making a direct sale, one of the best ways to inform buyers about the domain sale is by creating a landing page for the domain.
Add a domain for sale message and consider including a domain portfolio, an inquiry form, and contact details so potential buyers can reach you.
We recommend using a website builder to help build and maintain your landing page easily. Several templates are available for landing pages, and you dont need coding skills to use them. Most modern builders have a visual editor, so you only need to drag and drop elements to design the page.
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But It Is Not A Quick & Easy Way To Make Money
Heres the truth:
Selling domains isnt a get rich quick scenario. You can definitely make money selling domain names, but it takes time and patience.
You have to think of domain names as real estate.
A quality domain name is like buying a better house. Just like buying and selling houses is a long game, so is trading domain names.
Make sure youre investing in domain names that will grow in value.
And in case you might be asking yourself:
Is the profit you make from selling domains taxable?
Yes, it is. Its just like buying a stock and selling it for a higher price. You still have to declare the profit as a taxable benefit.
Sell Via A Domain Name Broker
When selling a highly sought-after domain, a professional broker might facilitate the sale and help you sell your domain name for the best price. MediaOptions and Grit Brokerage, for example, are well-known domain name brokers with solid reputations.
In most cases, domain name brokers work on a commission-only basis, meaning they get paid based on the final sales price. Thus, before entering into a contract with a domain broker, check the terms and conditions and whether there are upfront fees.
However, note that the domain broker might refuse to sell your domain name if its potential price is not high enough or they dont think theres great demand for it.
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What Is A Domain Name
A domain name is simply the sequence of words or phrases typed into the search bar within search engines to visit a website. They are an easy alternative to IP addresses that would otherwise have to be used to connect directly to a web page.
The four main domain name types:
Be Aware Of The Risk Involved
Flipping domains is not entirely free of risk. There are three types of risks associated with domain flipping in terms of legality, liquidity, and subjectivity.
- Domain names can sometimes cause legal issues. This usually happens because some names are too similar to already trademarked names, which is why you need to think twice before picking domain names.
- From the liquidity point of view, you may have to wait for a couple of months or even years before you can make a profitable sale.
- Subjectivity refers to the fact that it is hard to realize the value of a domain name as compared to stocks. It is not easy to pinpoint the exact value of a domain name.
Now that you know all the details about buying and selling domains, we hope you start off your very own domain flipping business with ease. All you have to remember is to begin by learning all the tricks of the trade and invest a small amount of money before you decide to go pro.
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Resources To Learn More
There is always a learning curve in buying domains with the purpose of reselling them. Dont hesitate to ask a lot of questions to those who went before you, participate in forums such as namepros.com, keep abreast of industry trends via resources like domaining.com, and reach out to the Afternic and GoDaddy Aftermarket support teams.
How To Sell Your Domain
Selling your domain is going to be a lengthy process, and you might not get any bids straight away. It depends upon the existing value of your domain and how well you market it. The process will differ from selling websites, however.
Below we cover the process of discovering the value of your domain name and hopefully selling it for a nice sum.
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Create A Landing Page Indicating That Your Domain Is For Sale
When buyers are choosing a domain they want to buy, they will often type the domain into their browser to see if its available. Creating a landing page on your website can often be a huge help in closing a deal.
There are several creative ways to point buyers to such a landing page. The most common method is to place redirects. Make sure to create landing pages for each domain youre selling. Having a page on lowinterestrates.com, for example, on a landing page for another domain confuses buyers. Most landing pages have an inquiry form end-users can use to gather more information, along with contact information.
Never underestimate the value of interpersonal communications when closing a deal! Some buyers actually prefer interpersonal communication, and you dont want to leave those buyers out, especially if youre looking for a fast sale.
Coms Dont Always Rank Higher Than Other Domain Extensions
There is a misconception that good .COM domain names are hard to find and so they are more expensive to buy. But once again, this statement holds no water. You can easily check out the .COM domain names that are on sale at highly affordable prices. However, the only downside to flipping .COM domain names is that you will have to discover them at different places like Flippa.com or private seller portfolios.
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Determine Your Domain Names Worth
Selling domains will be easier if you know how much you can sell them for. Who knows? You might already be the proud owner of a premium domain name and not even know it.
However, coming up with the right figure is easier said than done. Selling domains is comparable to selling artwork. If you price it too high, potential buyers might walk away. But if you price it too low, you could be leaving money on the table.
There are a couple of factors that can help you find a competitive price point.
- Length In general, shorter domain names are considered more valuable than longer ones. You want domain names that are 15 characters or fewer.
- SEO value A domain name that includes valuable keywords has a better chance of ranking higher on search results. Thats why some marketers are willing to pay more for search-friendly domains that include their target keywords.
- TLD TLD or top-level domain refers to the extension at the end of a domain name. A domain name that ends in .com might be worth more than .net.
- Traffic If youve already been using the domain name and its been getting significant traffic, you can use that as leverage to raise your selling price.
- Characters You want a domain name that doesnt have special characters like a hyphen. Some people also avoid using domains with numbers since it requires spelling clarification when said verbally .
You can also use a tool like NameBio to find out what similar domain names have sold for.
How Do I Know If My Domain Name Is Valuable
Domains that include highly searched keywords are typically the most valuable. Domains that end in .com are valued considerably higher than those with other extensions. Short domains tend to resell for more than long domains. You can use tools like GoDaddys domain value appraiser to get an idea of what your domain might be worth.
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Marketplaces To Sell Domain Names
If you’re not dealing with a large number of potential buyers knocking on your door, then it’s time to look at your next best option: the domain market.
These are places that are actually designed for the buying and selling of domain names.
If you’re looking to sell domain names, this is often the best option for turning a domain name into cash. This is where you can find a prospective buyer and every kind of domain broker.
Final Thoughts On Using An Online Marketplace To Sell Your Handmade Crafts Or Goods
You often simply need to think creatively to come up with new ideas for marketing your handcrafted goods and crafts.
We have seen many businesses that have distributed flyers, posted stickers on our car, had numerous giveaways, made donations to charitable causes, and spent money on Facebook and Google ads.
Getting your name out there is crucial so that customers will know exactly where to turn when they require your specific goods.
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Embed Checkout Page In Site & Sell Domain Names Online
Moreover, just copy the link and add the checkout page to sell domain names online at any suitable place on your WordPress site.
Edit the Page & Paste the Copied Link
Further, paste the plan link of the domain names on a text editor of the WordPress dashboard.
Save & Publish the Checkout Page
Next, click the Publish button, after making changes.
Check out the Final Look of your Checkout Page on WordPress Site
Building A Solid Domain Portfolio
Building a high-quality domain portfolio can take months or years to accomplish. Often, the key is looking forward to what domains may become popular in the future and hedging through numbers by purchasing hundreds of domains. Others choose to purchase a few already high profile domains and sit on them hoping that they appreciate in value.
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Embrace Fixed Pricing If You Want To Move Your Domains
Regarding fixed pricing, this is always a hotly-debated topic in the domain investor community because some people feel that putting a fixed price on a domain means you risk leaving money on the table.
While that may be true, at least you sold the domain name! As I like to remind people:
He who dies with the most toys still dies.
Most buyers are intimidated by the whole make offer thing and want to be able to browse by price and buy if they see something they like and can afford. Frankly, Id rather have sellers remorse than going to my grave still holding an unsold domain name, but the decision to go fixed-price or not is all yours.
One thing to remember: If someone contacts you directly about buying one of your fixed-price domain names, you can ask them to make an offer, and you can always quote them a higher amount than your fixed-price. Most buyers are not that sophisticated. It is doubtful that they have seen the list price elsewhere.
Choose Your Business Type
The first thing that you need to do is to choose what type of business you want to run. Choose something that can fit within your budget and interest. If youre looking to start a side hustle, then you will have different requirements for those who are looking for a full-time business. There are dozens of businesses or models you could follow, so take your time in choosing which is the best for you.
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Put The Domain Name Up For Sale
With pricing all sorted out, the next step in how to sell your domain name is to put it up for sale. To do so, especially if youre interested in how to sell a domain name fast, you need to create a For Sale landing page.
Why? Its simple. When someone is looking for a domain name to buy, they usually type it into their browser to see if its available. If you have a large message saying This domain name is for sale along with your contact info, the potential buyer will know its available and be able to reach out to you.
It may not necessarily be the best way to sell a domain name as you might have better luck listing it with the domain marketplaces like Sedo or Afternic, but in situations like this, it could keep you from losing out on a great selling opportunity.
There are a number of ways to create a For Sale landing page. You can create your own using any landing page builder software, or you could use one of the For Sale landing pages available at Sedo, Afternic, or one of the other domain marketplaces.
Just know, if you go the latter route, youll have to pay a 10-30 percent commission on the sale price of the domain, even if you acquired the buyer directly from the landing page and not the marketplace.
Another option is to use Efty or another commission-free domain selling platform. The landing pages on these platforms are specifically optimized to sell domains.
What If My Domains Are Hosted With Another Provider
Don’t worry, while your domain names do have to be hosted with GetDotted.com before you can sell domain names through us, you can transfer them into GetDotted.com absolutely free of charge. Once your domains are successfully transferred into us, you can choose to put your domain names up for sale and specify prices within the MyFreeola Control Panel.
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Assess Similar Domain Sales
Domain appraisal tools provide the easiest way to get information about your domains value. Generally, these tools assess a domains value by relying on SEO-related metrics, including backlinks and domain authority.
Since price estimates vary, we recommend using different tools to obtain a better assessment. Domainindex.com and Domain Value Checker are popular free domain appraisal tools where you can also check similar domains for comparison.
However, if you have no experience selling domain names, you should first learn about the domain name market. Here are some popular sites to look for resources:
- NameBio. Offers searchable databases of past domain name sales. Look for a domain that has similar features or keywords to yours it can help determine your domains sales potential.
- NamePros. An online forum for domain sellers and buyers. Here, you can connect with experts and discuss the best strategy on how to sell a domain name.
- ShortNames. Provides up-to-date information on the sale and auction of short domain names across different marketplaces. Additionally, it has advanced search filters to let you track different short domain categories.
However, keep in mind that these resources and tools only serve as a general indicator. Other contributing factors such as trends and demographics also need to be considered.