how to make money domain selling

How to Make Money Domain Selling

• Buying and selling domain names is an exciting adventure that for some seems to conjure up images of finding hidden pirate treasure or guessing the winning combination on the next Powerball.


• Stories abound of domains that were purchased for $8 dollars 15 years ago being sold today for millions. Of course, that leads the more adventurous of us to wonder, “How can I do that?”


• Well, the ocean is big. Your likelihood of cashing in on the motherlode is low, and you’re liable to waste a lot of time and money chasing after the wrong ships. You need a map or some other advantage to guide you toward that elusive booty.


• Here are some tips to get you pointed in the right direction when trying to buy or sell a domain name for profit.


• NARROW YOUR FOCUS• There are millions of domains already

registered by someone and endless combinations of available domains to register, especially when you consider the hundreds of new domain name extensions like .xzy and .club. If you plan on buying a domain to resell it, you should start by narrowing your focus.

https://www.godaddy.com/tlds/xyz?isc=cardigan

https://www.godaddy.com/tlds/xyz?isc=cardigan

https://www.godaddy.com/tlds/club?isc=cardigan


• What do you know about already that can make this easier? Do you know about pets, are you in car or home sales? Do you know about education or healthcare? Think about some of the spaces you are most familiar with and start there.


• Here’s what you DON’T want to do: Target prospective buyers based on their perceived economic status, without any insight into the industry you’re targeting. “Lawyers seem to do well,” you think, “maybe I should start selling names to them.” So you rush out and buy a bunch of domain names you think would appeal to the law firms you’ve identified as potential buyers.


• may not know that the American Bar Association and other industry-specific organizations set rules that govern some aspects of legal advertising. You’re not going to strike gold selling names your target buyers can’t use.

• Understand your audience, and the sales will follow.


• FIND NAMES THAT OFFER REAL VALUE• Think of ways that the domains you buy would

be a valuable asset to the buyer. Picture someone who would benefit from buying the domain in a space you are very familiar with.


• If this was you and someone was trying to sell you this name, would it be beneficial for you to own? Be honest. If so, why? If not, why? Use those answers to refine your search for names.


• Let’s play this out with a real example. Say you’re familiar with the real estate market in Tempe, Ariz., and you have the opportunity to purchasetempeapartments.com for $200.


• How much does one month of rent profit a landlord, property manager or other prospective domain buyer? How about a year’s worth of rental profit?

• Would you buy this name if you were in the space? If so, why?

• What kind of domains are landlords, property managers, etc., using?

• How much do they spend on advertising?• How much would this domain help them to

sound authoritative in their space?


• If you can answer these questions with confidence and know this niche well, you probably already have an idea of who to contact and how to make a compelling case for how this domain could help their business grow.

• FINDING VALUABLE DOMAINS


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how to make money domain selling

Small Business & Entrepreneurship