Thinking about buying and selling domain names for profit? It can be such an exciting process! You’ve probably heard stories about domains that were purchased 30 years ago for maybe $100 and is now being sold today for millions. Sounds amazing, but is it really as low odds as winning the lottery? Or is it easier than that? If you want to get in on the action of what it takes to make money buying and selling domains, you’ve come to the right place.
Here we go over some tried and true tips you need to help you start making some money in this digital world. Let’s get started.
Go-To Tips For Buying and Selling Domain Names For Profit
When it comes to trying to make money with domains, it pays off to know what you’re doing. Read through some of our tips and suggestions to get you pointed in the right direction.
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 buyer’s 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 won’t 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 you’re familiar with. If you’re 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 you’re 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?
Stay Focused
You’re aware that there are already millions of domains registered. But there are also endless combinations of available domains to register. If you’re looking for a key tip in regards to buying and selling domains for profit, you should start by narrowing your focus a little bit.
Like we mentioned above, you should start by thinking about a topic or industry you’re already familiar with. Are you in the healthcare industry? Do you love cars or animals? Your job of searching for domain names gets a lot easier if you already know about the topic, because you already have an understanding of the value.
Here’s a TO-DON’T tip: Don’t just target buyers based on who you think might be wealthy. If you’re only targeting lawyers or doctors because you think they’ll have more money, you might be missing an opportunity in an area you know better. Also, if you don’t knowledge of that industry, you might end up buying domains without knowing their are industry-specific rules that limit buyers.
Our advice is to stick with what you know. If you stay focused on those industries and areas, you’ll be much more successful and offer a lot more value.
Double Check Domain Availability
Ok, now you have a little bit more understanding about where to start. You’ve narrowed down some domain names you think would be beneficial and you’re ready to potentially buy. But how do you find them?
You’ll first want to make sure that the domains you want aren’t already taken. Here at Name Experts, we can help you with this entire process. If the names are taken, which is common, you can check the aftermarket to either buy from people who own them, or rebuy domain names that are expired.
There are lots of places you can go to check availability. Let us help you narrow your search and make sure you’re on the right track.
Consider The Price
You’ve got the name you want. It’s available. But how do you know if you’re getting a fair price? You can use sites like namebio.com to compare the name you want with similar ones. It has interesting features like entering keywords and finding a list of names that are close to yours that includes what they sold for and when.
At Name Experts, we can also help you make sure you are getting the most bang for your buck. We have experts who can appraise your domain to find out what it is actually worth, so you know if you’re getting a good deal, and what it might be worth to potential buyers.
We can help you make a price with confidence because we know the industry. You want to make sure you’re taking the right steps, and we have the experience to make sure you’re selling for the highest possible value.
Attract Attention To Your Domains
When you’re ready to display your domains to the public, you want to make sure you’re advertising with the right venues. Make sure that the avenue you’re using is trusted and well known. You don’t want to get stuck in a scam that takes your money or seems untrustworthy to potential buyers.
It will pay off to use a place that not only has great ratings but also has licensing from a trusted government source. This will help clients want to pull the trigger because they know they can trust the brand selling the domain.
Another thing to consider is the distribution network. You need to make sure that you get your domain name in front of the right buyers.
Contact us today and let us help you make sure that you are approaching the right people, putting your domains in front of potential buyers, and getting the most value from the buying and selling process.
We have the resources and experience you need in order to start buying and selling domain names for profit. We actively help business owners and entrepreneurs buy and sell domains at the best prices on the market. What are you waiting for? Reach out to us today and let us help!