If you also want to make money online, there are several ways to wait for you. The internet is full of opportunities that make your job simpler. You just need to choose what is suitable for your skills, and requirements and guide it then.
Domain selling is a serious business in today’s world. The domain selling a business turned out to be a low-risk business. However, there is a need to go through all legalities to start a business. A domain name is usually a website name. This is the address for the internet to access your websites. Business requires domain names to register to protect them from copyrights and trademarks. You can also resell domains.
Steps to Start Your Domain Selling Business
1. Experience
If you are an experienced web developer. Then you should start a domain selling and hosting business. You should gain experience by working in the company. This will help you in fixing the price of your product and earning money. Experienced web devs know the level of competition in the market.
2. Set The Value For Your Domain
Firstly determine the price of your domain. Most people end up overpricing their domains. This is the reason for restrictions on the market reach. Some domains own a higher price than others due to the suffix used. Shorter domains have more value than longer ones.
3. How To Sell
Once you get a clear idea of the worth of your domain. You need to start finding buyers and creating a customer base. You need to fix a broker for the domain that shares the total selling price. You get to display a list of domains on popular sites that sell them.
You can also advertise your business on various social platforms. And try to reach to required domain and website hosting businesses.
4. Fix Your Target Groups
You need to fix your target groups. It helps you to focus on specific domains and build your expertise. After domain listing, focus on making it more attractive. You need to know whether the domains have any existing traffic already. You should use an escrow service to avoid being deceived by any buyer.
You should list out domains in strong distribution networks. This will let you bring your domain names to millions of buyers every month.
5. Business Plan
You should have a proper business plan to work on. You also need to plan the budget and the amount of money to invest. You need to be very clever with your investments in your business. Try to fix a timeline and work accordingly.
6. Website
Try to build a proper website that is business-oriented. Also, decorate your site. It should be attractive to customers. It should contain all the information related to your business.
Payment services present on the website have to be secured. You should also add an online chat system. This will help you in getting all information about their queries.
So How Do I Sell Domain Names?
Step 1: Have Your Domain Assessed
The very first step is to determine the value of the domain name. You can assess domain names yourself. An excellent approach to appraise your domain name is NameBio. It uses a keyword-based search engine that looks up the sale prices of the domain names. You can find an idea about the lowest, highest, and average prices.
But what if you couldn’t find value for the domain name? This is where listing the services helps. A professional appraiser will know the market very clearly. It can provide valuable information that helps you to get a domain name.
Step 2: Try To Set a Price For Your Domain
Most of the domain names sell in the three to the four-figure. If you already have a premium domain name, you can lower the price in the case to gain interest. A fixed price strategy is to create an idea for people. This could be a great strategy to use for people asking for fast sales.
If you already have a premium domain name then you can command 6 or 7 figures. You are now in a good position to set a price.
Step 3: Landing Page Indicating That Your Domain Is For Sell
While buyers choose the domain of their choice. They will check the domain in their browser if it’s available. creating a landing page on your website can lead you to close a deal.
There are many creative ways to locate buyers on such landing pages. Make sure you create the landing pages for every domain you sell. Most of the landing pages have inquiry forms. This allows clients to gather information.
Don’t ignore the value of interpersonal communications while closing a deal.
Step 4: Try To Choose An Avenue To Sell Your Domain
Many sellers do enlist domain sites with person-to-person to sell. You can these domain marketplaces. Those are Afternic, BrandBucket, NameCheap, and Sedo.
GoDaddy auction is the most popular domain auction site around. You can encourage buyers to contact you for further information. Let them have entered their bid on the auction site. This is true that many of the auction sites charge a commission from the selling price. But this will be worth your peace of mind.
Most marketplaces have a review feature. Read out the seller’s reviews on the buyer. This will give you an idea about the seller and whether he/she is trustworthy or not. Don’t go further with the deal, if you are not sure about it.
Step 5: Use a Service To Transfer Funds
If you want to transact a large amount of money. Then you should hire an escrow service. Go for research on the marketplace auction site you want to use. If that doesn’t own escrow service. You should hire one yourself. Escrow service makes larger money transactions more secure. Because the buyer will not receive the domain until full payment has been made.
Escrow service is a broker between you and the buyer. An agreement containing the details of the sale will be great. The buyer will then submit the payment to an escrow account which then will be delivered to you. You should contact the domain registrar and transfer the domain to the buyer. And lastly, the buyer confirms to escrow service about receiving all rights.
If anyone fails on their part of the agreement. The escrow service contains all the details of the transaction. This can be used as a piece of evidence for further actions.
