If you are hanging on to a valuable domain name that you would like to sell, this is your post! Today we’re going to share a step-by-step process for selling your domain name that could put some extra money in your pocket.
Step One: Own a valuable domain.
Excuse us for stating the obvious, but here is something you need to know: To sell a domain name for profit, you need to own a valuable one. With any luck, you already have a domain name in your possession that you don’t plan to use.
If you’re interested in making money (who isn’t?) but don’t have a domain name to sell, you might be able to purchase one and sell it for more than you paid. Think of flipping a home in real estate. It might be a risky move, but it could be lucrative, especially if you can grab a domain name at an auction price.
Step Two: Understand your domain name’s value.
It’s hard to believe that some domain names are worth as much as they are. That’s why many domain name owners find it challenging to assign a value to their domain name when it’s time to sell. Here are three questions to consider as you put a price tag on your domain name:
- Is the domain name memorable?
- Upon hearing the domain name, is it easy to type it correctly?
- Would the domain name be an asset to a company’s marketing strategy?
Step Three: Consider the top-level domain.
The top-level domain (also known as TLD in web lingo) is the suffix at the end of the domain name. Here are three popular ones:
- .com: This is the most common TLD, used for all purposes.
- .org: This is another popular TLD, often associated with nonprofit organizations.
- .biz: This TLD is reserved for businesses, although some .biz websites have a sketchy reputation.
Step Four: Set a price for your domain name.
When it’s time to assign a price to your domain name, you need to be honest and realistic. Have you ever heard of real estate comps? That’s when a real estate agent looks at the recent sale prices of similar homes in the area and uses that info to price a property. You can do the same thing with domain names. Check out the sale prices of domain names with a similar value to yours, and use what you learn to guide your price.
Step Five: Decide on a strategy to sell your domain name.
When it’s time to sell your domain name, you have options. You can sell privately, use a registrar website or work with a domain broker. Here’s the scoop on each of these methods:
- Selling your domain name privately: Have you ever cruised around your neighborhood and noticed a “For Sale By Owner” sign? This strategy is the World Wide Web equivalent. If you sell privately, you’ll take care of advertising, negotiations and payment on your own.
- Using a registrar website: Registrar websites typically generate a lot of traffic and are user-friendly. Simply set your price, list your domain and the registrar deals with the rest. Although you can’t beat this method’s convenience, registrar websites often charge hefty fees that could make a dent in your profits.
- Working with a domain broker: When you partner with a domain broker, such as DomainBroker.org, you’ll receive expert guidance throughout your sale. Domain brokers will help you set a realistic yet profitable price, find buyers and deal with negotiations. Domain brokers usually charge a commission (between 10% and 20% is common), but reputable ones don’t cut any corners when it comes to making sure that you benefit from the transaction.
Contact DomainBroker.org Today!
Do you have a domain name that you would like to sell? Do you want to be a player in the domain name market? Contact DomainBroker.org today! With our expertise, you’ll be on your way to a successful and hassle-free domain name sale.