Buy and Sell Domain names for Huge Profits, Tips are here
Are you Ready to make some money off some domain names? Here, dollarsbag.com bring you ways to make money through selling domains for profits.
Buying and selling domain names, for a lot of people, is this really exciting adventure, that’s like finding some hidden pirate treasure or winning the Powerball.
Yeah, there are so many stories of people that have purchased a domain name for like eight bucks years ago and now selling ’em for millions of dollars.
So for those of you that are a little bit more adventurous, you’re probably asking, how could I get started?
Here are some tried and true tips to help you sell domain names for a profit.
Table of Contents
1. First Step
The first step to selling domain names for profit is to narrow your focus. Now what that means is, that there are already millions of domain names out there. Purchased already with endless combinations of extensions.
And be sure whenever you’re starting your search, start with an industry or a field that you’re really familiar with.
Because if you know that that domain name is gonna be valuable to them, then it’s a lot more likely to sell. Right and you can even look up keywords
using things like Keyword Planner or Google Trends to see what might actually be popular and what isn’t.
But here’s what you shouldn’t do. You shouldn’t start, you know, targeting prospective buyers based on their perceived economic status right?
You think that they make a lot of money so, hey, of course they’re gonna buy this domain name.
We’ll say a lawyer for example. Lawyers make big bucks right? So we’re like, cool, let’s buy a bunch of domains and try to sell to lawyers.
But in reality you don’t know anything about lawyers.
Yeah, you don’t even know if they can actually use those domain names so you might’ve spent tons of money buying all sorts of different endings and
extensions only to find out they don’t even care about it ’cause they can’t use it.
So make sure you understand your audience and eventually the sales will follow. You can even keep a domain name for 10 years and still sell it at a considerable profit.
Yeah, and I know what a lot of people do is they’ll create either, like, mini web pages or use services like say Cash Parking.
They basically put ads on their web sites so they generate a little bit of income, while they’re holding on to that domain name for those prospective buyers.
Yeah, and you can even add in some SEO so that way it really justifies that cost to the buyer.
Yep, they can see the traffic’s already coming in so that’s just less work that they have to do and it’s easy for you to sell it.
2. The Second Step
The second step is to find domain names that actually offer some real value to those potential customers. So, you’ve already figured out the industry that you’re really familiar with. Now put yourself in their shoes,
if you were actually looking for a domain name, and you worked in that industry, what domain name would you want and which one would be valuable to you?
So let’s say we’re in real estate. I have a pretty good example of someone bought the domain name tempeapartments.com for $200.
That is dirt cheap when you really understand the industry and Tempe. There is a pretty prominent college, Arizona State University, go Sun Devils, but there’s a high turnover with all the college students
so people are constantly going to tempeapartments.com. So ask yourself a couple questions, kind of help you navigate that.So the first question could be how much of a profit are these prospective customers gonna be making right?
For Tempe Apartments how much does rent cost right? What kind of money are they gonna be bringing in?
A couple other things to ask yourself is what are they spending on advertising with that industry? Now, real estate is pretty competitive
so advertising’s gonna be just as competitive so those budgets are pretty high. Then lastly, does this domain name sound authoritative in this field.
So Tempe Apartments is a pretty great domain name, it sounds authoritative, it sounds like it’s a trusted source.
So with the domain names you’re looking for,
is it a trusted source and would you do business with it? So the third question to ask yourself
when buying and selling domains for a profit is, is it available right? You don’t want to go through all the trouble of doing some research, looking at keywords,
just to figure out that these domain names aren’t even available.
Yeah, and if the domain name that you want is already taken, which a lot of them will be, head over to the after market so that way
you can buy it from people who either, already own the name or, maybe, if it’s expired, and they don’t plan on using it anymore.
Yeah. There are couple of great aftermarket locations for domain flipping like GoDaddy Auctions is one of the largest.
There’s also afternic.com and then sedo.com that you can use to see if these domains are listed elsewhere,
and potentially buy it at a premium cost, but if there’s that return on investment, it’s worth it.
3.The Third Step
The next step is evaluate the price. So you already have your domain name that you want in mind, how do you know that it’s a fair price though?
So domain name buying and selling (domain flipping) is pretty relative.
What might be worth something to me is worth, maybe, nothing or everything to you.
But there are a couple free tools that you can use to help you just evaluate the price.
Starting with GoDaddy’s domain value appraisal. Now this is a free tool to give you, basically, a rough estimate of what this domain name is worth.
And then, on that page, it’s gonna give you a couple other free things too.
It’ll show you a couple dominions that have already sold, related to the domain that you searched, and what they sold for.
It’ll give you other extensions that are available, and then other possible domain names that you can purchase, based on whatever you searched for And that’s a free tool
if a domain name is in the after market ,they’re probably looking to make money off it, just like you are, so keep that in mind.
Do your research, and make sure that it’s really gonna be worth that investment for you. Yeah. And these people are just like you too.
So there are services like domain brokers out there that you can use, that’ll contact whoever is selling that domain name, and try to make a deal.
4. The Final Step
Finally, our last tip is get your domain name front and center. So there are a lot of different ways that you can get your domain name out in front of the buying public.
So here are some things you’ll wanna consider though.
Starting off with is that venue, or basically, the place you’re buying and selling that domain name, trusted?
So buying and selling domains (domain flipping)can be scary right?
You send money out and you wait for the domain to transfer, sometimes that process isn’t immediate.
So you really want to go with a trusted source that you know that’s gonna hold that money until that domain hits.
Because as a buyer or a seller, you wanna make sure the transaction goes through.
The good thing about afternic is, not only does it, basically put your domain name on afternic.com,
but it also lists you on a hundred other websites. Basically, it’s just an easier chance for your domain name to be seen by that perfect customer.
Just use your resources, keep up with those industry trends, and make sure that you’re investing your money in something that will actually make sense in the long term.
That’s how you buy and sell dominions for a profit.