I can boldly say even till this day domain reselling business is still very much underestimated and even now and sure it’s not on your list at heart on how to make money online. The business is very lucrative if you understand the model.
Many people actually think selling a domain name is difficult. That’s because they either have no idea about the business or never put in effort to study exactly how the process works.
Even the very few ones who have little idea about this business end up selling their domain less than the actual value. That’s the major problem domain resellers encounter especially as beginners.
When it comes to selling a domain name, two set of customers are definitely coming to bid.
- The cheap budget personal buyers.
- The one who need this domain for a brand.
If you can value your domain properly and know how to get a good cost you will understand that the best option is the customers who need the domain for brand. They tend to pay higher because they are always in desperation while the other group can easily switch plans.
In this article, am going to show you how to market your domain name at the best rate. Below are the necessary guidelines.
How to sell a domain name
This process might be lengthy but obviously am going to make everything brief just like other articles on this website for easy understanding.
The steps might not be orderly but am sure you will understand every point.
Know the Domain Value: Before you go ahead to list that domain name for sale, you should first of all determine the cost value and worth.
If you list a domain for sale without knowing the value, you’re either going to overprice or underprice it. If the domain name is overpriced you might find it difficult to get a potential client and if it’s underpriced you may end up selling it for less.
The question of how to know the domain value has been answered below. To determine a valuable domain name and here are some things you should consider!
Brandable Domain Name:
For your domain name to gain more value it must be brandable. This means it should be easy to remember and spell. Because no brand will choose a name that’s awful.
If you check all the big brands you know, you will come to understand their concept of choosing a name which I’ve stated.
Niche Related Domain:
If the domain name is pointing to a relevant niche, it’s likely to sell at high cost. You can see for example. According to Godaddy report the highest selling domain of all time were:
- CarInsurance.com – sold for $49.7M
- Insurance.com – sold for $35.6M
- VacationRentals.com – sold $35M
If you study these three domain names you will immediately see the value in them and easily understand what they should be used for even without having to visit the websites.
SEO search Records:
If your domain name have SEO“search engines optimization” value it’s likely to sell higher. If you have a domain name with good search records you shouldn’t be scared in tagging a good price because people will always pay regardless.
In addition, domain age can also affect the cost. If your domain name is old buyers are likely to bid more compared to a recently registered name.
Top Level Domain:
it’s easier to sell and can worth more price compared to others. A top level domain is the one with
- .Com
- .Net
- .Co
- .Me. Etc
When registering a domain name for reselling purposes you should consider popular TLD especially the .Com.
Traffic/income Value:
If you have a domain name that’s generating good amount of traffic already, its easier to sell such domain name at good cost considering the traffic value.
This is also applicable to a domain name that’s generating income already. This can be sold 20-40X the monthly income generated. That means if your domain is earning $100 monthly the resell value can cost $2K – $4K
Publish the domain name for sale: Nobody will buy the domain name until you place it on sale. And this can be done in different ways and on various platforms.
To make it even more efficient, you can create a landing page on your domain name and list all the values buyers will get when they order the domain name. This will make it possible for buyers to get in touch whenever they visit the domain name probably to see if it’s available for sale or registration.
There are many domain listing sites such as Afternic, Sedo, Namecheap etc. These platforms enables you to list your domain names for sales.
If you want to list it on domain auction, you can go with Godaddy Auction and Flippa
The listed platform above are very secured when it comes to marketing your domain name. This is very important because many have lost relevant domain names to scammers choosing the wrong marketing platforms.
Find a perfect buyer: You should know there are many scammers in this business who are ready to steal your domain at all cost. You should be smart enough to know these group of people and how to avoid them.
Getting buyer for your domain name might not be immediately. This can take months because you won’t want to sell your domain for the first person to bid. You will have to let others bid for it as the value increase.
Once you get the right buyer for the domain name the next thing is to proceed with payment which should be done via escrow to avoid scam. Almost all the domain flipping platforms have secured payment methods so you shouldn’t worry about that if your domain is listed on any of those.
As soon as the buyer process the payment you can now continue with the domain ownership transfer. Once your domain is transferred, congratulations on your sale.
NOTE: There’s no doubt this business is legitimate and guaranteed but you should have in mind that even if you invest in a domain that will grow in value you shouldn’t think this business is a get rich quick scheme because it requires time and patience otherwise you won’t be successful.
