Learn More With These Resources
When buying the domains for reselling, you will always have a learning curve. Ask a lot of questions to those who have taken a step forward, opt for forum discussions, keep a track of industry trends and reach out to our support team for more information.
Go to the conferences to gain knowledge quickly and meet several other professionals in your industry. You can also get an idea about the tools and services available to you from different vendors of your niche. All these things will help you make smarter investment and get most out of your time and money.
Pallavi is a Digital Marketing Executive at MilesWeb and has an experience of over 4 years in content development. She is interested in writing engaging content on business, technology, web hosting and other topics related to information technology.
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.
Final Thoughts On Making Money Flipping Domain Names
Flipping domain names can become an extremely profitable side hustle for anyone with a computer and internet connection.
To get started, youll first need to find a domain name to purchase at a good price. Then, youll need to find potential buyers to sell your domain. You can sell domains a variety of ways including auctioning them on websites like Flippa or you can choose to sell it privately. Many domains can be sold in less than a few weeks, making it a quick way to make a few hundred dollars each month.
Domain flipping is a great low-risk side hustle for just about anyone and I would 100% recommend it for anyone with even the smallest amount of technical skills.
Have you ever flipped a domain name? Comment your experience below!
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Is The Distribution Network Strong
The potential to get your domain name in front of the right buyer is vital.
Listing in a distribution network such as Afternic can get your domain name in front of millions of potential buyers each month. Afternic is owned by GoDaddy and it will automatically list it with GoDaddy as well as over 100 other companies such as Network Solutions or Register.com.
Do you know people who could benefit from the domain name? Why not reach out to them and see if they have any interest in using the domain? If you are working in an area of the domain space you are familiar with, you should be able to convey the value proposition of your domain name for the potential buyer.
Keep it short and only approach people you know and think would be interested in the domain for their business.
You do not want to start sending spam emails. You want to have conversations with people you know would appreciate the ability to own the domain.
Letting a great name you purchased at a fair price to make a profit sit in your account, instead of getting it in front of the right buyer, is like finally finding that pirate treasure map but framing it to admire in your living room instead of following it to the booty.
It Undermines Your Quality And Reputation
If you know how to get websites to page one, why are you not marketing that fact to potential clients and consumers or would-be domain purchasers? Trying to get a keyword driven domain to rank high and sell it off for a profit isn’t a good investment, either time wise or for the long-term success of your company. Instead, use sites that you have already ranked high as an example of how awesome you are and sign them up for a monthly fee, rather than trying to sell them a “make money now” domain.
- Demonstrate SEO prowess to potential client using existing sites as proof of results
- Sign up client for basic SEO services at $600-1000 per month
- Invest 30-40 hours in making the client’s site soar in results
- Client is happy. Refers friends and other business owners your way
- You get: More clients, better reputation, month recurring income, and gain a positive reputation for being a quality SEO provider.
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What Is A Domain Name
A domain is the name of the website. These domains always have an extension like .com, .org, .net, or others.
At Niche Pursuits, our domain name is NichePursuits.com. For WebMD, its WebMD.com. A domain is the name of the website.
When you hear about a TLD that refers to a domain name with one of the most common extensions as opposed to a less common domain extension like .me or .newyork.
Why Buy And Sell Domains
Buying and selling domains can be a profitable side business. Freelancers or people with irregular schedules find it especially convenient, as domain auctions and sales operate on very limited time frames. Dont expect to be able to quit your day job and make a full-time living with domain speculation. Your profits will depend largely on market and search engine indexing fluctuations, and these can be difficult to predict. As a business model, buying and selling domains is relatively easy. All you need to get started is a laptop and an internet connection. You can do your own research to find out which domains are selling for the largest sums and how much money you should set aside for purchases. Some established domain speculators keep portfolios full of hundreds of domains theyve purchased, waiting for a particular search term to become popular and profitable. This type of investment can require a lot of money up front, not to mention a substantial understanding of risk.
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Designing A Domain Listing
If you have chosen a platform where you want to advertise the available domain, create an entry there. Like with other sales, there are a few rules to keep in mind: If you state your domain name and price, you probably wont attract too many customers. The platform entry might not be attractive enough. However, those who provide additional information are more likely to encourage prospective buyers to make a purchase.
While it might seem silly at first, you can also add a product description to a domain. For example, you can enter information about the domains previous ranking and provide information about what kind of areas the URL is appropriate for. Even adding a picture is possible: a graphic reworking of the domain name or a screenshot of the former website encourages marketplace visitors to consider your advertisement. If possible, you can also comment on the existing or expected future value of the domain, justifying a required price.
Not all marketplaces offer you the opportunity to store extensive information. However, in those cases, no-one can take advantage of this, so it doesnt necessarily have to become a disadvantage for your listing. Instead, many platforms allow you to promote your domain for a fee. So, if you assume that your domain name will fetch a decent price, it can be worth investing in the additional advertising.
How To Buy And Sell Domains From Flippa
To Buy or Sell Domain on Flippa, sign up with a valid Email Account and list your website or domain for sale. After listing your domain, it’s time for the description, people tend to write a long description, but thats not what it should be like. The description should be short and simple which does not bore the Buyer and gives the buyer a brief idea of your Blog or Website or domain.
Now the most important part is to Set Flippa bidding options.
- Set the Reserve price after evaluating it properly
- Set it to the price at which you can afford to sell your online property
- Set a Correct and reasonable Buy it now price
Keep the starting Bid price as low you can to encourage more users to Bid. After the Auction is successfully finished, do research about the user who has won the Bid and his history of the transaction. So that you can take proper measures before you initiate Blog/Website/Domain transfer and receive payments.
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Look For Names That Have Value
Simply put, you want to find domains that would be a valuable asset to your buyer. You want to look for domains that would be an added benefit to the person buying. Try to put yourself in the buyers position.
If you were buying a domain for your business or company or hobby, what would you look for? Is the domain you just bought something that you would actually use? You want to make sure that any domain you buy is actually something valuable to the person buying. Otherwise, it wont be worth anything.
Keep this in mind when searching for domain names to buy and sell. It is also helpful to stick to an area that youre familiar with. If youre a dentist, maybe focus on the dental industry and stay away from the construction industry.
Another idea is to try to snag your local names. For example, if youre in real estate and live in Denver, Colorado, you might look for names like denveraffordableliving.com or denverapartments.com or something similar. It has keywords that lots of people search for, and a new apartment complex might be interested in buying this type of domain.
Remember to ask yourself, what kind of domains are other people in this industry buying? Would you buy this name if you were in that position? How much would this domain help them get found online or give them authority in their industry?
What Risks Are Involved With Domain Flipping
As with almost any type of flipping business, domain flipping isnt without its risks.
You always run the risk of losing money instead of profiting.
Its much like those who buy houses to flip, spend a lot of money making the houses look the way they want, and find out that they could only sell it for the same amount theyve invested.
You could end up spending hundreds on your domains, only to get just about the same amount back, or maybe even less.
This isnt likely, though, once you get a hang for how it all works.
But, in the beginning, its a possibility.
Also, you should be aware that some of your domains could take months, or even years, to sell.
Its not always a quick process, so you should prepare to have some money available for your upfront investment that you wont need back right away.
And then there are always some legal issues involved.
You could wind up purchasing a domain name with a trademarked name without realizing it.
If that company wants to go after you for doing so, it can.
Or, if you buy a domain name that includes someones real name, he or she can fight you for ownership of your domain.
Things can get a little sticky when flipping domains, so its very important that you understand what youre doing, and know what to avoid, before you purchase domains for your portfolio.
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Where & How To Sell Domain Names
So heres a list of the most common approaches people take when selling domains.
- Reaching out to potential buyers directly: If you own, say BestRestaurant.com, then it would make sense to try and pitch that domain to restaurant owners. If the domain is even more niched down like BestNewYorkRestaurant.com, then you could also use the help of a directory such as YellowPages to help you narrow down potential candidates.
- Simplifying inquiry process: As mentioned earlier, making your WHOIS info public and creating a landing page that simplifies the inquiry process could be beneficial as it encourages direct offers.
- Listing on domain marketplaces: This is the most common route. You should, however, acquaint yourself with each marketplaces policies and fees before deciding to work with them. For example, Sedos commission starts at 10% and BrandBucket prohibits listing the domain anywhere else if youre selling with them.
Heres a list of the most popular marketplaces :
These should be more than enough to get your domain in front of tons of potential buyers. If you did a good job picking an awesome domain, you should have no problem selling it. You need to be very patient as it could take months or even more to land a decent deal.
A lot of domainers sit on domains for years before actually selling them.
Set A Price For Your Domain
Now that youve arrived at a fair market value for your domain name, the next step is to work on a pricing strategy. Although most domain names, especially aftermarket domain names, sell in the three to four-figure range, if you have a premium domain name, you can often price below fair market value in an effort to drum up interest. With this type of domain name, its often advisable to set an asking price straight up. Another benefit of using a fixed-price Buy Now or Priced to Sell pricing strategy is to create a sense that makes people think they could lose the opportunity to grab a great domain name at any time because the buying market is often fast and furious, especially if your price is below where it should be. This can also be a good strategy to use if youre looking for fast sales.
However, if you have a premium domain name that is a domain name that you know can command six or even seven figures, youre in a good position to set a price well below fair market value in an effort to drum up interest. If your domain name is really high in demand, you can create a bidding war that pushes your selling price closer to, or even over, fair market value, creating the potential to make a massive profit!
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Prepare Your Domain Listing
Once youve chosen your marketplace its time to optimize your listing. A lot of sellers just upload their URL and call it a day. However, you can maximize your chances of selling your domain by making it more attractive.
For example, does your domain have any existing traffic? Does the domain have considerable age? Does your domain have any existing authority?
Find An Existing Domain Name
Yes, buying existing domain names can be profitable too. Existing domains with a potential for profit can be found using Sedo. Make sure you pick domain names that have good traffic, backlinks and Google PageRank under 17 characters. Also, steer clear of existing domain names containing special characters or numbers because they are not likely to be sold.
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