Engaging And Negotiating With A Buyer
Once you have settled which marketplace you wish to sell your domain name in, you should try to grab the buyers attention. Engaging a buyer is an important aspect of selling a domain name. Buyers are only interested in sellers who have a professional approach.
Hence, sellers should have clear cut knowledge of the domain name they are selling. A seller should also keep track of the traffic the domain name receives as well as the domains expiry date. He should also clarify if the domain name earns any money at all, and how much. This will help indicate the domains value in the market.
Some buyers are a tough nut to crack and they may quote a ridiculously low offer. Explain to these buyers and convince them why the domain is worth more than the quote. If the potential buyer doesnt agree, fret not, just move on to the next one until you find a willing buyer. Once you finalize the deal, then its time to find the best payment mode for the transaction.
How Will People Know That My Domain Name Is Up For Sale
Any domains that you list for sale will be displayed on our ‘Pre-Owned Domains’ pages, which are shown to a wide audience 24/7. Our pages are regularly visited by people who are looking for the best domain names. All you need to do is specify the domain sale settings, and let us do the rest. Take a look at our catalogue of current domains for sale to get a better idea.
Where To Find Domain Name Buyers
Once you decide to sell a domain name, it is important to find the best market to sell it. The best way to sell a domain name is to approach buyers secretly. If you know someone who deals with domain names, it is recommended to contact him without going through the middleman. Chances are that the seller will make more profit, as he will not have to pay the middleman.
Selling on auction sites is another great way to find buyers. Ebay.com is perhaps, the most popular place to sell domain names. Afternic.com is another site that allows sellers to find good buyers. If you have premium domain names, become a member at GreatDomains.com and list your domain name there. The site is a reputed marketplace and brokers deal with thousands of dollars trading domain names. You can also sell domain names through Sedo.com, a site which has its own selling program. Sedo.com has the largest marketplace in the world, and boasts of having a list of the most expensive domain names in the market. It also has a safe and secure escrow service for domain name buyers and sellers.
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Share Your Contact Information
Why learn how to sell a domain name if potential buyers cant contact you?
Its important that potential buyers can quickly get in touch with you. So, make sure your contact information is available on all listings and landing pages .
You dont need to provide extensive contact details, but at the very least, you should have an email or phone number that buyers can use to reach you.
In addition to updating your listings, you want to check that your WHOIS listing is up to date. A WHOIS record identifies the domain owner and provides their contact information.
Before Selling Your Domain Keep These Two Advises In Mind
- How to Sell Domain on GoDaddy and other sites: You initially need to decide on which website you want to sell your domain name. You can register is only one website or another. GoDaddy, however, is one of the best platforms to sell the domain name.
- Finding Out the Domain Price Range: Dedicate a suitable rate to your domain. Do some research for surveying the prices of other domains like yours. There are tools as well as online services that will help you compare to calculate prices. This way you will also learn on what prices to sell GoDaddy domain name and buy them.
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Know Your Domains Value
Understanding how to sell a domain name effectively starts with one key piece of knowledge: the domains value. After all, you have to know what buyers are willing to pay in order to set a reasonable price.
There are a few elements to consider that might affect the value of your domain name. Some of these include:
- Length. Domain names under 15 characters tend to be more valuable.
- Keywords. Having relevant terms in the domain name can boost a sites SEO potential.
- Simplicity. Overly complicated names can be difficult for users to remember, thus decreasing their value.
In other words, a short, simple, and specific name will usually fetch a higher price. However, you might want more specifics regarding your domains value. Thats why we recommend using a service such as GoDaddys appraisal tool:
All you have to do is enter your domain name into the box and click onGet Value. Youll see a basic report that looks something like this:
Thats it the program will return a figure based on real-world sales data. Nevertheless, this is still only an estimation. As such, feel free to adjust this number as you see fit .
Knowing the value of your domain name is undeniably useful. However, that alone isnt all you need to get the most out of it. Youll also need to decide on the best sales strategy.
Use An Escrow Service For The Safe Transfer Of The Funds And The Domain Name
When buying or selling a domain online, using a licensed and bonded escrow service will reduce the risk for both the buyer and the seller. Using an escrow service to handle your domain name sale guarantees you get paid and the buyer gets their domain. All of the domain name marketplaces and auction sites referenced throughout this guide offer their own, free escrow service as part of their platform so when you sell a domain name through one of these sites, all you have to do is make sure you are able to transfer your domain name the moment it sells. But if you sell your domain name through direct negotiation with a buyer or you are using the service of a brokerage firm you should always transact through a licensed escrow company.
The way a domain name escrow works is that both parties agree to the terms of the transaction, which include the domain name and sale price. The Buyer will then have to submit a payment for the agreed amount into the escrow account. Once the escrow service has verified and secured the payment, you are instructed to transfer the domain name to the buyer. Once the buyer confirms they have possession of the domain the funds will be released to you.
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Reasons To Sell A Domain Name
There are two main reasons to sell a domain name.
First, you might want to sell your domain name if you no longer need it. This can happen if you purchase a domain name and close your business or if you never use the domain name.
Alternatively, you might want to learn how to sell a domain name to make a profit. Buying and selling domain names is referred to as domain trading. Domain selling can be a lucrative business if you build up a solid portfolio of domains.
There are risks involved if you plan to turn domain selling into an investment or business. You should learn about how to sell domain names before you invest a lot of resources.
As far as commodities go, domains do not have a high level of liquidity. The sales process can be long, and you should be prepared to wait for offers. Additionally, if you run into trademark issues, you might have to surrender your domain for free.
Understanding how to sell domain names is a useful skill whether you need to sell a few or if you want to invest in it long term.
If you follow the steps in this guide, you can learn how to sell a domain name safely and for the best price.
Why Domain Value Tools Are Wrong
The worst tools out there are the domain value tools.
These estimate the domain valuation of your domain name using keywords and some equation that never gets released to the public.
These are generally offered from anyone who sells domain names like GoDaddy.
The trouble is these tools are almost always completely wrong.
For one thing, youll find that even ridiculous domain names will often be evaluated by these tools as being worth several hundred dollars.
This brings up a really interesting common-sense question…
If all these domain names youre buying are worth hundreds of dollars, why are they all available for $15 a year? Or less, depending on the sale price.
A domain name is worth what someone will pay for it. Period.
These companies have a financial interest in claiming high values, but its like the old baseball card guides that said all common cards were worth a nickel.
Except that no one ever wanted the common cards, so in reality, they werent worth anything.
Dont trust these tools at all. They dont even work for general guidance.
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Choose Where Youll Sell Your Domain Name
You probably wont be surprised to hear that there are many places where you can sell your domain name. However, the large selection of quality options can make it hard to pick one. The good news is that there are a few factors that you can consider to find your perfect fit.
For example, a sites popularity can be an important factor. Simply put, more users means more potential buyers. Nevertheless, this could also mean youre facing a lot of competition. We think its worth considering both sides of this double-edged sword.
You may also want to check and see whether a marketplace caters to a certain niche. Those without a focus will reach a wider audience, but a very a niche-specific domain name can get overlooked.
How To Buy And Sell Domains On Godaddy
GoDaddy Auctions gives you listing options for selling your domain names. You can use a free, basic listing, or you can add optional features to increase your domain name’s exposure.
Here are the simple steps to pricing, listing, and selling your domain through GoDaddy.
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Why You Might Want To Run A Domain Name Auction
If youve reached a point where youre no longer interested in your website or dont have the time to keep it up, selling it may be your best course of action. You should be able to get back at least some of the money youve put into it. In some cases, you may even be able to make a profit.
Some domain names can be quite valuable, depending on keywords they include, what Top-Level Domain they use, and other factors. If youre also selling your website and its content, you may stand to gain quite a bit of money.
Rebranding may also lead you to sell your domain name, even if youre keeping the rest of your online real estate. If the first web address you chose has turned out not to be such a great fit for your online business, it can be beneficial to register a new one and move your content over to it.
You can then sell your first domain to make back some of your initial investment. Auctioning it off may be particularly fruitful due to the flexible nature of the pricing structure for this type of sale.
At an auction, buyers may feel encouraged to place bids on domains with low minimum prices. However, as time goes on, you stand a chance of eventually selling for more money than you might make by simply listing a specific cost in a traditional sale.
Transfer Your Domain To The New Owner
Now that youve chosen an escrow service and payment has been made, its time to transfer your domain to the new owner.
The domain transfer process changes depending on where your domain is registered. Different domain registrars may require other steps.
However, there are always three main steps in any transfer. They are:
After the domain is transferred, the new owner will need to verify their ownership. If youre using WHOIS privacy, then you need to disable it. Otherwise, you can skip this step.
You will need the account administrator to provide authorization during the domain transfer process. So, before you initiate a transfer, make sure that the admin is up to date.
Check with the domain registrar to see which email address is listed and change it if necessary.
If you need to update the admin email, your registrar might place an anti-transfer lock on your account for up to 60 days. The transfer lock prevents fraudulent activity, but it can also delay the transfer process.
Most domain registrars place a transfer lock on domains to prevent fraud or mistakes. If your domain has a lock on it, contact your registrar to unlock it before moving on with the transfer process.
Once the domain is unlocked, youll need the transfer authorization code from your registrar. Your registrar might also refer to this code as the auth code, EPP code, or secret code.
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