Selling A Domain Name For Profit
Owning a valuable domain is the first need for selling a domain name. At an auction, you might find fantastic domain names for less than their market price, or you might have old domain names that are no longer useful to you. As an alternative, you may look for premium domain names in the hopes of earning five-, six-, or even seven-figure sums of money. In either case, you won’t be able to sell the domain name unless you already own one that someone, somewhere wants to own.
Own Domain Names That Offer Real Value
One of the keys to correctly analyzing a domain name and increasing your chances of making a transaction is comprehending its value. Although it can be challenging to assign a value to domain names, you can use the idea of brandability as a guide. How simple is it for a business to employ in their marketing, in essence? How enduring is it? If buyers just read or hear the name once, will it be easy for them to type it into a search bar? If there is a spelling mistake that causes potential visitors to forget it, an otherwise great domain name may lose all of its value.
In addition, pay attention to the top-level domain (TLD), which is the extension that concludes each domain name. While some, like the .com extension, are appropriate for all uses, others are better suited for niche enterprises or regional businesses.
If your domain names are strong, you can keep them and sell them later. The inverse is also true, and if your domains fall into this category, you should admit it to yourself. There are millions of domain names that no one would pay anything for.
Set Realistic Goals
You must have a realistic target price in mind for each of your domain names. Once you have a grasp of the concept of brandability, hunt for domain names that you consider to be of a comparable caliber. Right now, the biggest thing standing in your way is being honest with yourself and resisting the need to exaggerate.
Different Ways To Sell Domain Names
There are basically just two ways to sell a domain name, albeit the second option includes a number of various but connected techniques. Your first option is to sell everything completely privately without even using a registrar website like GoDaddy. If you decide to go down this road, you’ll need to manage your own advertising, set up a safe payment mechanism, and conduct negotiations. While you could hire a third party to handle all of this, there would be a large commission fee.
• Sell your domain name privately. The good news is that selling domain names on your own is not actually that difficult, even though it does take some technical expertise. Your benefit is that your ideal client is already searching for you; all you have to do is make an attempt to make their search easier. The first thing someone does after deciding they want to purchase a domain name is enter it into their preferred search engine.
Considering that you already possess the domain name, create a simple website yourself or hire a professional to do it for you. Since all you have to do is inform them that the desired domain name is for sale, it can be quite simple. You must conduct the discussions and set up a safe escrow payment method on your own, but you are ready to go once you have included your chosen contact information and hit “send.” Even if there are costs associated with this, it is an important must when working with a sizeable sum of money.
• Sell your domain name on a registrar website. Selling a domain name on a registrar website like GoDaddy is straightforward, and you can take use of the registrar’s huge online traffic, free escrow service, and user-friendly interface. Simply log into the domain manager, establish a price for each name, and then put them for sale. The disadvantage of this is that the registrar might demand high fees while just offering you a great level of convenience.
• Sell your domain name via a domain broker. One option is to use a domain broker, who may provide considerably more value with services like price estimation and buyer sourcing and negotiation. Upon closing a contract, the majority of brokers impose a flat fee cost of 10% to 20%. The objective is that a professional broker can assist you achieve the most value for your domain with the least amount of work on your behalf, even though this charge is more than selling on your own. To guarantee a positive experience, you must, however, always apply due investigation when choosing a domain broker.