The Ultimate Guide to Purchasing a Domain Name

written by

Joe Uddeme

Joe Uddeme

The Ultimate Guide to Purchasing a Domain Name

Domain Buying Guides

Getting right down to basics, here’s NameExpert.com Director Joe Uddeme with our definitive guide to buying a domain name. Whether you’re a complete beginner or a would-be domain trader, it’s a great place to start.

 

A domain name is your website’s unique identifier. It is the address people type into their browser when they want to visit your website. For example, typing “nameexperts.com” in your browser leads to this very website.

Most businesses with an online presence need a domain name, but business owners sometimes don’t know how to get one. If you want to buy a domain name for yourself or your business, you’ve arrived at the right place.

Key Takeaways

  • What to do before buying
  • Choosing the right name and getting it registered
  • Buying a domain owned by someone else
  • What to do next

Before Buying Your Domain

Let’s examine the essential steps to take before buying a domain name:

Choose a domain name

A domain is a unique web address, meaning two websites can’t use the same domain name. The first step to buying a domain is to choose the right domain name for your business.

The domain should be brandable and easy to remember. It’s how customers will find you, so avoid any name that gives people headaches when trying to remember it.

The domain should preferably include the name of your business so that people can easily guess the address if they are not sure what it is. Let’s say you run an electronics store named MJ Gadgets; the perfect domain name is MJGadgets.com. If this domain isn’t available, you can look for alternatives like ShopMJGadgets.com, BuyMJGadgets.com, and MJGadgets.net.

Choose a premium domain name if you can afford it, as they are short, catchy, and memorable domain names that draw valuable organic traffic. Most successful online businesses use premium domain names.

Choose an Extension

The extension is what comes after the dot (.) in your domain name. “.COM” is the most popular domain extension and should be your first choice. If “.COM” isn’t available, you can pick alternative extensions like “.NET,” “.ORG,” and “.CO.”

Google and other search engines have confirmed that your choice of extension doesn’t impact rankings. However, it significantly affects consumer perception. People generally don’t trust uncommon domain extensions like “.XYZ,” “.BLOG,” “.WEBSITE,” etc.

Understand How Domains are Valued

Before making a final decision, you should understand how domain names are valued, especially if you plan to sell the domain later. Many factors contribute to a domain’s value, including:

  • Length: The shorter a domain’s length, the easier it is to remember and the more valuable it becomes.
  • TLD (top-level domain): Some domain extensions are more valuable than others, such as “.COM” “.NET,“ .AI,” “.IO,” etc. The more popular the domain extension, the more valuable it is.
  • Length of domain history: The longer a domain name has existed on the web, the more likely it is to command a high value.
  • Keyword popularity: Domains with generic keywords people frequently search for tend to have high value, e.g., “Amazon.com,” “Stripe.com,” “Square.com,” etc.

Verify if it is available

Considering the above factors, it’s time to check if your desired domain name is available. You can do this by simply going to any domain registrar and typing the desired name in the search box.

If the domain is available, the registrar will offer to sell it to you. Otherwise, the registrar will notify you that someone else has already registered the domain.

To demonstrate, let’s search for a random domain, “ournameexperts.com”, on Namecheap, a popular domain registrar. Namecheap said this domain name is available, and we could register it immediately.

Now let’s search for “nameexperts.com.” Namecheap said this domain name has been registered by someone else since 2000. Of course, that’s the domain you’re currently on, so you can’t register it for yourself.

If your desired domain name is available, move to the next section on how to buy a domain name outright. If it has been taken, move to the ensuing section on how to buy a domain name that is already registered.

 

How to Buy a Domain Name

1. Choose a domain registrar

Any domain name must come from an accredited registrar, such as Namecheap, Dynadot, Hover, Bluehost, and Domain.com. Over 2,400 domain registrars are accredited by ICANN, the governing body of the global domain registration system, so finding a suitable one shouldn’t be an issue.

You can see the full list of all ICANN-accredited registrars here. Any supposed registrar not on this list is illegitimate.

2. Select your domain and extension

The next step is making a final choice about the domain and extension for your online business. We’ve discussed the factors that should influence your decision, but it’s worth reiterating that “.COM” is the best extension. This is the first extension most people consider when looking for a brand’s website.

If a random person wants to guess your website name, they’ll likely type the name followed by a .COM and hope their browser will show your website.

The .COM extension is easily recognizable and helps your website rank higher on search engines. Domain names with this extension also command a higher resale value, giving it a competitive edge over other domain extensions.

3. Select How Long to Register the Domain

Domain name ownership isn’t etched in stone. Every domain has an expiry date, although you can renew the registration for as long as you want. You can register a new domain for up to 10 years, with each additional year carrying higher upfront costs.

The bright side is that you don’t need to bother about short-term price changes once you’ve registered a domain for many years.

If you want to build a valuable long-term brand, 5 to 10 years is the optimal period to register a new domain. But if you can’t afford a long-term registration, you can register it for a year and turn on auto-renew so that the registrar automatically renews it when due.

You can’t technically buy a domain forever, but you can use some workarounds to own it for a seemingly infinite time.

4. Purchase your Domain

Enter the available domain name into your registrar’s search box and click the buy button. On the checkout page, most registrars suggest adding domain privacy to the registration package. Some registrars offer domain privacy for free, while others demand extra fees for this perk.

Do you need domain privacy?

Domain privacy protection means hiding your personal information from the public WHOIS database. This ICANN-operated database contains information on all domain owners and is open to anyone.

However, you might be uncomfortable with your contact information being out in the open. In that case, you can request domain privacy for your registrar to hide your personal details from the WHOIS database.

If you have no issues with your contact information being publicly searchable in the WHOIS database, you can ignore your registrar’s domain privacy suggestion.

5. Complete the Registration Process

Pay for the domain name with a credit or debit card and complete the registration process. Your registrar will ask for contact information, including a name and email address, to register the domain. This information is usually listed in the WHOIS database, but domain privacy lets you hide it.

6. Verify domain registration

Your registrar will send a verification email confirming ownership of the domain you purchased. Click on the link in the verification email and smile because you have formally joined the club of domain name owners.

How to Buy a Domain that is Already Registered

We can predict your disappointment if you find out that your desired domain has already been registered. However, don’t fret—there’s still a way out. You can contact the owner and formally offer to acquire their domain, especially if it isn’t connected to an active website.

Finding a domain owner and making a reasonable acquisition offer can be exhausting, so seeking a domain broker’s services is advisable. Domain brokers are experts who specialize in buying and selling domain names– the internet’s equivalent of a real estate agent.

If you’re interested in a house not publicly offered for sale, you’ll likely seek a real estate agent. Similarly, if you want a domain that is already registered, seek a domain broker to handle the negotiations.

Domain brokers can help you find the owner of a domain even if their information isn’t available on the WHOIS database. Then, they’ll reach out to the owner for negotiations.

This part is critical because domain brokers have proper knowledge and experience in domain name valuation. If you’re negotiating directly, you might underbid a domain and cause the owner to ignore you. Or you may overbid and get played. A domain broker sets a reasonable bid on your behalf and adjusts when necessary.

If the owner agrees to sell their domain name, the broker handles the escrow and ensures you aren’t cheated. Then, they’ll transfer the domain name to you.

Sometimes, the broker will explain that they have found the owner but they don’t want to sell for any reason. In that case, it’s wise to avoid beating a dead horse and seek a new domain name instead – preferably something similar to your first choice.

It can be as simple as choosing another extension – such as saying goodbye to OurNameExperts.com in favor of OurNameExperts.net.

One of the most important things we do for clients is advise them on domain name strategy. We have many years of experience in suggesting and sourcing valuable names that have incredible potential.

Seated man and woman high-fiving in business setting

 

What to Do After Buying Your Domain

You’ve acquired a domain, so what’s next? A lot can happen. The obvious choice is to connect your domain to a website and work on attracting traffic.

You’ll need a web hosting plan from a reliable company. The company hosts your website on its servers so that people can access it anytime, and you’ll pay a fee for this perk.

The good news is that web hosting has become more affordable than ever– you can find hosting packages for as low as $5 monthly.

The type of website you want determines your hosting provider. For example, if you run an online store, you’ll need an e-commerce hosting service like Shopify, Shift4Shop, Squarespace, and WooCommerce for WordPress. If it’s a news site, social platform, booking website, or anything else, you can find endless hosting options for it.

You can also create a professional email address attached to your domain name. Professional email addresses make your business look brilliant and increase the chances of getting a response when you pitch to clients.

You can trademark your domain, market the website, and even sell it later. There are endless things to do after buying a domain name.

 

About the author

Joe Uddeme is Director and Principal of Name Experts, one of the world’s leading domain name brokerage services. He has overseen domain name sales and acquisitions totaling more than $150 million and is renowned worldwide as a go-to expert in buying and selling premium domains. Contact us at: [email protected]

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Cap Location Founded 1 Amazon $232.9 2018 647,500 $802.3 Seattle 1994 [1][2] 2 Alphabet Inc. $136.8 2018 98,771 $791.01 Mountain View, CA 1998 [3][4] 3 JD.com $55.7 2017 137,975 $34.84 Beijing 1998 [5][6] 4 Facebook $55.01 2018 25,105 $486.39 Menlo Park, CA 2004 [7][8] 5 Alibaba $39.90 2018 66,421 $432.12 Hangzhou 1999 [9][10] 6 Tencent $36.39 2017 44,796 $434.66 Shenzhen 1998 [11][12] 7 Netflix $15.8 2018 5,400 $153.39 Los Gatos, CA 1997 [13][14] 8 Booking $12.7 2017 22,900 $92.94 Norwalk, CT 1996 [15] 9 Baidu $12.40 2016 45,887 $88.11 Beijing 2000 [16][17] 10 eBay $10.75 2018 14,000 $32.07 San Jose 1995 [18][19]   Each of these companies went out and acquired their core premium domain name – no matter what the cost. They also understood the value of having .com as their global brand. Let’s dig a bit deeper into the strategy of one of the major power-houses listed above. Facebook.com also owns many other valuable pieces of digital, beach-front real estate. Take for example, FB.com which complements the existing digital strategy that was already in place. Facebook has parlayed their web presence by building another piece of digital real estate alongside their own majestic piece of real estate. Another example is Booking.com, with more than $12 billion in revenues. They do a phenomenal job of attracting users with constant ad-driven messaging. They have partnerships with more than 660,000 hotels and provide a valuable service to their clientele.   Why Premium Domains? Let’s continue with the beach-front real estate analogy. For the past thirty years, brands have been swallowing up the short, brandable .com domains. These are the assets that provide the most upside, equity and long-term value to the brands. These assets can hold generic value, such as Booking.com, or be more brandable, such as ebay.com or Baidu – to name a few. Premium domain names have commercial appeal and are typically very memorable. Brands spend huge amounts of money attracting new users and creating brand credibility. Digital strategists – including speculators who buy and sell domains for profit – are competing for a smaller piece of the available premium domain name inventory. Having a great domain name is only half the battle. Success lies in how you develop the brand and create long-term equity for your company. For this reason, companies should always acquire the shortest variation for their brand (Tesla, for example, spent an undisclosed amount on tesla.com so they no longer had to be teslamotors.com). This doesn’t have to be the only strategy. Companies should outline a comprehensive domain name strategy that not only covers their brand but any additional reputation management/brand defense needed to protect their corporate brand positioning. Simply put, premium domain names come with the following instant upside: Brand-dominance and positioning Equity toward a long-term exit strategy Inability to build against – a defensive strategy against your competition Own the real estate before your competitors do! Most successful brands have identified the importance of the premium domain name. They have dedicated digital strategists or digital departments to handle the larger need for digital integration and social media components. Brands should spend wisely and methodically when securing a new brand or piece of beach-front digital real estate.   Get it right the first time with help from a broker Domain name brokerage services like NameExperts help businesses with their domain strategy and are in high demand. Whether or not they work with us, we always advise companies to use the following checklist to make sure they are not leaving money on the table: Conduct Research—who owns the asset and for how long have they had it? Is it being used? Are there active trademarks? What’s the history of the link profile? Variations and Alternatives—brands need to nail it. To do this, sometimes, they need to think outside the box. Find viable alternative assets that define your image and brand. Negotiation is key—do you negotiate for a living? We do. We remove the emotional attachment and red tape to manage both buyers’ and sellers’ expectations. Be Flexible—sometimes you have to give a little to get a little. Don’t be afraid to be flexible and offer ways to benefit the other party in your transaction. Be Honest—honesty and integrity go a long way. Be true to your word and don’t go back on what you say. This is critical for deals to succeed. Ask Questions—hold your broker or expert accountable and ask appropriate questions. Some domain transactions move quickly. A clear line of communication is necessary to save valuable money and time. Due Diligence—dig for more information and market comparisons: it’s all firepower necessary to make the case. Timing—don’t hunt for a CBD-themed/Marijuana-type name when there is mass decriminalization and legalization occurring. The market is just too hot, and pricing will be inflated. Instead, names should be selected “ahead-of-the-curve”. Don’t fall at the first hurdle When buying a premium domain name, it’s important to ask the right questions – it can save the buyer tons of money in the long-run. A common issue relates to trademarks tied to a name/brand. Many companies secure a domain name for commercial use but never take the time to search the trademark database. This quick search can save clients thousands of dollars. Premium domain names make total sense for any emerging brand looking to scale their brand – and shortening the global domain name is still the foundation for successful growth. The top companies around the world continue to focus on the universally popular .com for brand growth. This validates the need for a superb, premium domain name for your company and brand. Get it right the first time and save money in the long run – while adding credibility and equity value while you’re doing it.   About the author Joe Uddeme is Director and Principal of Name Experts, one of the world’s leading domain name brokerage services. He has overseen domain name sales and acquisitions totaling more than $150 million and is renowned worldwide as a go-to expert in buying and selling premium domains. Contact us at: [email protected]

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Hook.com

QXO.com

NQ.com

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Humani.com

Max.com

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