There are thousands of domains that go up and about on the web daily. With everything becoming tech-savvy, domain flipping has surely become a profitable business. But, why should I sell my domain name? Where to sell domain names? And most importantly, how to sell domain names?
These questions are sure to pop up in your mind. There are ample reasons why people tend to sell a domain. The obvious one is either you have an unused domain or you are planning to start domain investing. Yes, you read that right! Domain flipping is quite an investment strategy nowadays.
Domain names are an in-demand commodity providing the entrepreneurs with business avenues. Now, you might wonder how can you find a suitable domain name which will help you in garnering ample profit?
But, before you hop on to the business, you need to do some groundwork. To sell your domain name is no cakewalk. Let us guide you through the complete process of how to sell domain names and add value to them.
What is Domain Investment?
Domain investment is defined as the process in which a domain reseller buys the domain from the registrars and sells them to potential buyers to earn a profit. However, you cannot purchase any domain you feel like. It is quintessential to opt for valuable domain names. There are instances when some domain names are sold just for a few dollars. However, others are sold for millions. Why does this happen? There are a few factors that determine the value of the domain name. These include:
- Length of the domain name:
It is more difficult to get a shorter domain name, instead of a longer one. Most businesses look for a shorter domain name as they are easier to browse. The more the demand for the commodity, the higher will be its price. - Keywords incorporated:
Keywords are quintessential for SEO. These increase the visibility of your site during the search process. The more efficiently you incorporate the keywords, the higher will be your rank on the results page. Moreover, if you have a keyword in your domain name, then its prices are likely to be increased. - Industry and niche:
While purchasing a domain name to resell, it is a good idea to purchase the domain based on the industry you are well acquainted with. This helps you know which name has a higher value as compared to others. Also, know your target audience beforehand. If you buy a legal domain name thinking that lawyers will purchase it. Then, you should probably give it another thought. It is because lawyers surely will have some legal complications. - Brandability:
A domain name that can be branded easily will surely get you a higher price. Moreover, if the domain name doesn’t bring in traffic, it holds no worth. Consider famous domains like YouTube, Google, etc. These can be remembered by everyone. If you are looking for the ideal domain, try incorporating these 6 points:- It should be descriptive in itself
- Present a unique name to the audience
- It should be credible
- Concise
- Can be easily memorised
- The domain name should be user-friendly
How to Sell Domain Names? [Step by Step Guide]
If you want to sell a domain, know that it is not a cakewalk. You will have to put in ample efforts to get a price for your domain. So, how should you sell your domain name? It majorly depends on the current value of the domain and the way you can market it. The process will vary depending on the target audience and the market. Below-mentioned is the process of how to sell a domain name.
1. Set a Value of Your Domain Name:
Do you also secretly wish that the domain name you possess holds immense value? While some domain names can have valuations like diamonds, the others are just pieces of coal. The evaluation of all domain names is done mainly on 3 levels:
- High-value domains: These are the prime-level domains. For e.g.: xyz.com, books.com, etc. These are representatives of a massive domain market allowing the owners to have potential domain authority. You can get a pool of potential buyers with these domains.
- Middle-level domain: These domain names mainly contain the business name or name of the host. These should be easy to remember and short. They also hold potential if the buyers relate to it and are up for this purchase.
- Low-level domain: These are the least-valued ones. They usually have a range of three to four figures, and moreover a limited appeal towards them. Following this, they do not even contain top-level extensions like .com that degrades their value.
So, you can check and set up the domain value based on these. This will help you put the right amount before the buyers. Following this, a good idea is to opt for value estimation tools available online which will help you get a clear picture. If you have already purchased the domain name beforehand, and you feel that its value will increase in a short time period, then maybe you can hold on to the name a little longer.
2. Select the Best Place to Sell Domain Names:
Once you have estimated the value of your domain name, it is time to start looking for potential buyers. But, how does one do that? To sell a domain, there are simple selling sites available that connect the buyers and sellers. A good reseller and web hosting service either skyrocket your website or brings it to the ground.
3. Allow the Users to Access Your Contact Details:
Once you have listed on the platform to sell your domain name, it is quintessential to make the contact details public. This allows the buyers to contact you instantly. Make your contact information available to the public. This increases your accessibility and hence the buyer response. To update your contact information, you can easily do it through the host of the site where you have listed the domain name.
Ensure that your site is listed on the WHOIS directory. This makes the search process easier for the buyers. Along with the contact details, mentioning the domain details and pricing is also quintessential. This helps the buyers in having an overview of the competitive market and choosing the best option. Do not hide any details. Maintain transparency to ensure a trusted reselling process.
4. Highlight the Potential Value of Your Domain:
If you feel that just by uploading the URL you are good to go. Well, you are mistaken. And many sellers do this mistake. After choosing the marketplace, it is time for list optimization. You can increase the chances of the domain getting sold quickly by making it attractive. But, how? Do it by highlighting the current potential value of the domain.
When talking of domain names, here are the important features that are taken note of:
- TLDs: The top-level domains gravitate the buyers towards them. It is the most recognizable and valuable option for a domain.
- Traffic on the site: If the site is currently in use, the potential value is also determined by its ranking and its existing audience. A good SEO strategy going on and a potential audience can work wonders for an active website.
- Domain age: This one also plays a key role. Often, the value of the site increases with time. So, if you purchased a site 10 years, the value of the site would surely have increased manifolds.
All such factors play a crucial role in determining the potential of a site you are trying to sell. Moreover, it must also answer some of these questions.
For example, does the domain generate traffic? Is the domain old or new? Does anyone have authority over the domain or not? These factors crucially determine the potential value in attracting customers.
5. Use Verified and Popular Payment Module:
protects your selling process from any scams. Some of the verified payment modules are listed below:
- An escrow service safeguards your funds throughout the process. For example, a selling platform named Sedo has an in-built escrow process. This works for every transaction that is carried out. However, some platforms do take a percentage of your final domain amount. But, it is surely worth it. After all, you do not want any risks which can lead to a major loss.
- PayPal is yet another very popular name that helps in caring out transactions safely across all platforms. These are mainly used by non-Indian clients. Moreover, it is one of the widely accepted payment methods across countries.
- Authorize.net is a flexible and trusted option for businesses operating at the small and medium scales. It offers an extensive list of payment options that it accepts. Alongside, it caters well to the business needs for sales.
6. Transfer Domain:
The last and most important part when you sell your domain name is transferring it to the new owner. The transfer process varies on your way of selling the site. But, the general process usually carried out by sellers is as follows:
- To initiate the transfer process, the seller submits the authorization code.
- After the transfer gets completed, funds are transferred to the seller from escrow.
- There can be some limitations on the amount being there in escrow. So, consider that before you finally transfer the domain.
Tips on Domain Investment: –
Are you also planning to get started with domain business? Does it fascinate you as well? Then, we have got you covered. Before you set out to sell your domain name, here is an approach you can follow:
Decide your budget:
Just like all other businesses and startups, you should know your financial status for the domain Investing as well. A good idea is to start small. Invest a little amount, understand the working process and then hop on to making bigger investments.
Opt for a profitable niche:
Have adequate knowledge about the niche you choose and the domain name as well. This will allow you to reach out to prospective buyers and attract them.
Find trending keywords:
Before you finalize any domain, focus on finding keywords that are trending. You can do so using online tools. The domain name should be able to bring in traffic. A good idea is to make combinations of generic words.
Opt for local domain names:
The bottom line for every business is to increase its profits. One way to do this is by opting for local names. This will help the businesses rank up on the result page.
Consider alternatives:
If you feel that only .com, .org, or .net hold value and are top-level domains, well, you are mistaken. Domains with .us or .io, also hold immense value. What you need to do is carry out thorough research to find suitable domain names with the right suffixes. It can either be the name of your business like bestservices.com, or just the name of the host, for example, abc.com or abc.net. These can serve both professional and personal purposes. If you don’t want to spend a big sum on such domains, then, the alternatives are the most reliable choices to go for.
Build the portfolio for your domain:
As easy as this sounds, it takes a lot of efforts. It can take years altogether to build a solid profile for your domain. A strategy that the domain resellers use is they hold some high profile domain names. They keep it with them till their value increases and finally sell it off for a good sum.
Try out different sales strategies:
When you are flipping the domain, you can opt for several strategies to make the process work. The three most common among them include:
- Setting the price for the domain name
- Auctioning the domain name
- Making an offer to the potential buyers
Do not sell your domain instantly:
Domain investment isn’t about quick cash. To make a profitable sale, one should research properly and wait for a good time to get substantial profits. Consider this process as an investment strategy.
Know the risks:
Nothing comes in handy. So is the case with the domain resell. The major risks associated with domain flipping are as follows:
- Legality: Domain names can lead to some legal issues. This can happen due to the similarity in some domain names.
- Liquidity: To get a profit in your domain, you may have to wait for some years before you finally sell it.
- Subjectivity: You cannot easily determine the value of a domain. It is a gamble and can be more difficult than stocks at times.
What we got?
We, at Flickmax, are here to help you through the complete selling process. If you are looking for a platform to resell your domain, you are in the right place. All you need to do is register with us, and we will get the work done for you. After all, you do not want to take major risks.
To summarize, you are now well acquainted with the whole process of selling domain names. Just take note of all the points mentioned above when you plan to sell a domain name. So, are you ready to get started with domain investments?
