Things are different on the internet! A website is like a window to a new world of content and ideas, but each one of them has a specific name and address. This address takes you to that website; in a way, it is like a zip code for your apartment.
Every day, people all over the world buy and sell website addresses known as domain or Uniform Resource Locator. Take a look at the URL of this website and see a domain name which consists of different parts:
Top-level Domain (TLD) is the part of the address showing which level the domain it is registered under; you will notice that some websites end with .com or .gov or, for example, “.it” (which shows that website is related to Italy).
Second-level Domain (SLD) is the part of the website address which refers to your business and the specific name you choose for it. It would be easy to know which part is the top level and which one is the second level. It would be better to know the second-level domain is much more valuable than the top level domain for buying and selling.
If you are interested in buying and selling domain but you are not sure if it is worth it or not, we should say there is a huge amount of money in this, but it comes with patience! There have been million dollar offers for some domains after someone bought that address decades ago! The whole process is more of an investment for you, so if you choose a wise decision it may change your life unexpectedly, like winning in a super bowl lottery!
Before spending your money and time on different domains and websites, you have to know if it is possible to buy and sell domains make money, so take a look at our 5 expert tips to cover all of the questions on your mind.
1. Know The Value Of Different Domain Names
First of all, you should own a valuable domain to sell in the future. it is obvious, is it not? But which type of domain names are valuable enough to make a good fortune?
Brandability is the key! Some people think if they choose domains related to high-paid jobs like lawyers and doctors, they can sell that soon and for a high price but in reality, it may not work like that!
Brandability does not necessarily relate to the type of services websites will offer. There are so many companies that have names unrelated to their business. You all know how big is Apple Inc. but who can believe that in 1990 that the most famous tech brand will have a simple name of a fruit?
Try to pick great names, then you will be able to sell a domain that some companies would be eager to own. With this attitude, you can easily make six or seven-figure profits by buying and selling domain!
Keep these questions in your mind when you decided to buy a new domain
Is it memorable?
How easy is it to pronounce?
Do marketing agencies like this domain?
Is it simple enough to be a good choice for big companies?
In the end, try to avoid buying domains that contain a misspelling, numbers, or “- “in the middle. They are not memorable and are not a good option for high-ranked websites.
2. Make Sure Your Target Domain Is Available
The next thing after choosing the right name for your wanted domain is checking whether or not it is available on the market. It may have been purchased a long time ago by someone else. Keep searching and pay attention to different domain brokers. You do not want to waste your time on a domain that was sold before.
Trust experienced domain brokers for buying and selling domain. Some websites have cheap offers but they are scams. It is a common mistake that beginners make, losing their initial investment. They do not check the availability of the desired name. Use different browsers and make sure you are buying a domain that is not owned by other people.
3. Show Your Domain To The World!
Now that you bought your desired domain name, it is time to make money out of buying and selling expired domains. How? It is simple. Like any other product in the world, your domain needs marketing to sell as merchandise. If you just keep your domain and wait for somebody to call and offer you a thousand dollars, it is safe to say it is never going to happen, my friend!
Remember your domain is like a zip code that takes visitors to a webpage. So you already have a platform to advertise your domain. In most cases, the domain will sell itself! Get the maximum exposure to get the maximum visit to your website.
For this purpose, it would be better if you ask SEO experts or learn more about tips to help your website get the exposure it needs to sell. Good exposure can help you in buying and selling domain in no time.
You can design a dedicated landing page that tells visitors your domain is up for sale. Some people also add their price which could be an option but we do not recommend it.
When you want to buy your domain, you probably search in your browser to see if it is available or not. So if anyone else, like you, is interested in this specific domain, will act the same. If you already have a prepared landing page for sale, it can help the buyer connect to you and make a purchase.
Emphasise your domain benefits and values on the landing page, which should include:
Number of website visitors and current domain traffic
Backlink profile which is helpful for marketers
SEO keywords in the domain name
Highlighting these values can help you sell your domain at a higher price and also play a good point in the buyer’s mind.
4. Learn More About Possible Risks
It would be wise to consider this market has its own risks like other markets. You should research and learn about probable risks before wasting any of your time and money on this business. We can categorise the risks of buying and selling domain into these 3 categories.
Liquidity In The Market
Domains can be hard to sell. They are not like stocks or NFTs. It could take several years to find the right buyer, which means you as an investor in this market should know that some domains would never sell and there is no profit in buying them. Having the ability to predict a loss is a necessity in this business.
Subjectivity In Value
The next issue is the price. Unlike the stock market, domains cannot be valued by future cash flows. It is more subjective than you think. It all depends on the buyer’s perception and your presentation of the domain.
Legal Complications
There are so many rules for trademarked names that can cause a problem for you as a domain buyer. Buying and selling domain names that are similar to famous brands could result in a lawsuit and a big legal battle with those companies, which you are likely to lose.
There are also stolen domains that can be sold to you, creating legal skirmishes between you and the original owner. Be cautious of these cases.
5. Choose New Ways To Sell Your Purchased Domain
There is no doubt that creative methods of domain sale can help you close the deal faster than traditional methods, but what are the new ways to sell your domains?
The First Option is to put your domain in the buyer’s search engine. This is the part where your creativity can help you a lot.
You Can Also Use A Domain Broker Website to increase potential buyers but remember that all of these websites such as GoDaddy, Sedo, and Flippa charge a considerable commission fee. Search and learn more about top platforms to buy and sell domains to choose the best broker depending on your budget.
Domain brokers also offer complimentary services such as price evaluation and negotiation with buyers which could go a long way if you do not want to get too involved in the process. There are reliable companies that decrease the chance of scams and financial loss.
If you do not want to pay 10 to 20 % percent of the commission fee or you do not have time to make a landing page for your domain and sell it yourself, we recommend Domchain services. Domchain is a platform based on blockchain that allows you to buy and sell domains without charging any commission fees.
Smart contracts help you to buy and sell your domain without any risk in the fastest way possible with secure payment. You can easily list your domains for sale on Domchain.
Questions? Here is some of the most FAQs:
Where To Buy And Sell Domain Names?
You can buy and sell domains in domain broker websites such as Domchain, NameCheap, Flippa, Godaddy, Afternic, and Sedo.
Is Buying And Selling Domain Profitable?
Yes. It can be very profitable. You do not need anything except an internet connection and a connected device. Try to find high-quality domains on domain broker websites like Domchain, which doesn’t charge any commission fees.
Can You Make Money Off Buying Domain Names?
Domain names can be bought and sold for profit like anything other product in the real world. Buying and selling domain over time is an easy way to make money as an investor.
Is domain Flipping still profitable?
Yes, it is. Domain flipping can be profitable and you can make a lot of money from domain flipping but it may take time. It is good to be patient in this business to generate an income out of it.