Buying the rights to the internet domain name allows you to use it for your website address. With a catchy domain name that resonates with a product or service, even a site with a few visits can be a great opportunity to bring in more visitors. It’s a heavy investment if you want a name of your choice, but the right domain name can be a great return on the investment. Just like you need a good domain name and are ready to spend nicely on it, someone else might also think to buy it by paying a good amount.
Creating a high-quality domain portfolio takes time. The best way to deal in domain names is to purchase a decent number of them. Here are tips and tricks to follow to make money with domain names.
Narrow your search
There are many domains already registered and endless combinations of domains to register. If you plan to buy a domain to resell, you must start by narrowing your search and make it as specific as possible. Go through a domain flipping guide to know how to purchase specific expired domain names. Just because the domain name has expired doesn’t mean the links pointing to it disappear, and that is what will benefit you in making it live again.
Think about the niches you are familiar with and research for popular keywords. It’s significantly easier to sell a domain that you know will be valuable to the target customer. Avoid targeting particular customers based on the prevailing economic conditions when planning to sell your domains.
Most industries or organizations have set legal aspects of advertising, and you can’t just use names that the target companies can’t use. Focus on the areas where you will be more successful than buying and selling domains you know little about.
Find names that offer value
Before you purchase your domain for reselling, you must understand that not every name will offer value. Think of different ways the domains you buy will be valuable assets to the potential buyers. Picture how your clients will benefit from buying a domain in your niche.
If you are the one and a seller is trying to offer you that name, will it be important to you? Just be honest with your intentions. If the domain is not beneficial to you, why do you think it will be so to potential customers? These questions will help you refine searches for the domain names that offer value to your site visitors.
When offering your domains for sale, you must remember the stiff competition from the established firms. You have to consider how the domain will sound authoritative in the space of the target customers.
Check if the domain is available
Now that you have narrowed down your choices and found names that offer value, you have to check the name of the domains available in the market. Suppose no one owns the domain names you have chosen. You can purchase them as a new registration. When making these choices, you will notice that the name you choose is already taken in most cases.
The best option is to head to the aftermarket to purchase the domains from the developers and other sellers who own them. You can visit auction sites or other smaller sites that will give you various options to work with. For the established domains, use the advanced search to target the type of names you are looking for. After thorough research, narrow all the results by keywords, price, domain and top-level domain.
Figure out the price
The price you will set for the domain can make or break it. Determining the selling price of the domains is always tricky. Though, there are a few ways you can do this accurately without getting worried. There are several websites where you can compare the price that you feel should be ideal with the prices that similar domains sell.
Check out how they were sold and how much they were sold for. There are also appraisal tools that give you a very good price estimate of what the domain should cost. Use the results on the documents to compare with your findings. Once you have settled on figuring out the price, you have to stay firm on the price. Open it only when there are possibilities of auction or chances of selling for a higher price.
Try several platforms
Getting a strong collection of domains to sell isn’t that hard, like looking for the potential clients to sell the purchased domains. There are several platforms where you can sell your domains, depending on your specialized space. Figure out the venues’ reputation. When investing in the domain, you must choose a trusted selling platform.
You should be sure that you will get paid to trade the domain names, and the buyers will get the exact domain they paid for. Trusted platforms give the buyer confidence to purchase the domains. After figuring out the platform’s reputation, ensure that you size up the distribution network. Consider the number of people using the platform you have selected to browse for the domain names. The better the distribution network, the more sales you are likely to make.