Want to Sell Your Domain? Here’s How to Make the Most Money
Selling domain names can be an exciting and lucrative venture. While some domain names sell for a few hundred dollars, premium names go for as much as several million. If you want to make the most money from selling your domain, you should understand the different factors that affect the valuation of a domain. You will also need to understand how the online marketplace works and the steps you can take to improve your profits.
Here’s how to get top dollar for your domain:
Narrow Your Focus
With the innumerable domain name extensions currently available, there is an endless combination of domains that you can register. You should focus your search on spaces that you are most familiar with since you will be in a better position to sell a domain when you understand the value to the end user.
Find a Name that Provides Value
Every buyer who wants to buy a domain will be looking for an asset that offers them value. As such, it is important to think of ways that a domain will be invaluable to your buyer.
The best way to do this would be to ask yourself whether the domain would be beneficial to you if someone was trying to get you to buy it. Take time to establish the kind of name your buyers are looking for, whether you would buy the domain, and whether it can actually help their business grow.
Park and Monitor Traffic
Domain parking is an excellent way to increase the value of a domain. It involves registering an Internet domain without it being linked with a specific online service. Domain parking is done to reserve the domain for future use and limit the probabilities of cybersquatting.
The domain will sit in your registrar account, but also appear on a website that shows the visitor that it is parked. You can also forward the domain to a website that you have set up to generate leads for that domain.
Evaluate the Price
Once you have a name, the next step will involve evaluating the price. Look at the different factors that determine domain prices and find out how much buyers are willing to pay for the asset. This will not only make it easy for you to price the domain, but also put you in a better position to negotiate for fair prices. There are also several tools and services that you can use to compare your domain with similar ones, helping you set a price that will earn you the most profit.
List your Domain
When listing your domain, you should find out if the listing service you intend to use is trusted and whether the distribution network is strong. There are several sites where you can list your domain for sale, helping you to get numerous attractive offers. Another way to increase your chances of selling the domain and getting a good profit would be to contact prospective buyers through email or phone.
Sell the Domain Name at Auction
Selling your domain name at auction is a great way to sell the asset quickly and to the highest bidder. Create a listing, set a reserve price, and consider including a price for those who may want to buy the domain immediately. Since most of the buyers on domain name auctions are people who intend to sell the domains, you should be prepared to sell them at what would be considered wholesale prices.
Hire a Domain Name Broker
It goes without saying that using a domain name broker will go a long way in helping you to get the most profit. Brokers not only have a deep understanding of the market, experience with domains, but also possess negotiating skills that will help you get the best price. Working with a domain name broker will also make your work easier and help you sell the asset quickly.
Selling a domain name is not easy. It takes strategy and hard work to ensure that you earn a reasonable profit. Take time to learn more about the market and develop your negotiating skills so you can get fair prices for your asset.
