There’s a huge and thriving business going on right before your very eyes on the internet and most people probably aren’t even aware of it. They aren’t aware of it, that is, unless they’ve ever decided to start a website and found that while the domain name they wanted had no site attached to it, the domain name was already owned by someone else – and could only be had for a price.
Enter the world of domaining, or selling website domain names to make a profit. Anyone can do it, but these handy tips will help get you started on the right path from the start.
Do Your Homework First
Just because anyone can register a domain name doesn’t mean that you should go out and start purchasing them all willy-nilly. Instead, take time to do the proper research on domain names that are likely to sell for a higher price than you bought them. Read, watch television, and surf the internet (hey – you do all of that anyway, right?) and pay attention to what’s going on and the kind of topics that would make for potentially good domain names.
Figure Out Your Purchase Strategy
Will you only create and purchase brand-new domain names, will you seek out domain names that have expired and pick them up, or will you build a portfolio that consist of a combination of the two? They’re all great strategies for finding excellent and profitable domain names. Keep in mind that purchasing expired domain names will cost a bit more than coming up with ones of your own, but it’s a fantastic way to come up with truly high-quality prospects.
Pricing Is What the Buyer/Seller Decide It Will Be
Selling online real estate isn’t like selling a brick-and-mortar house. There are virtually no ways of coming up with price comparisons for a website. You demand one price, the potential buyer comes back with another, and the two of you work to come to an agreement. That’s the way it’s done – and sometimes making a nice profit simply comes down to finding the right buyer.
Now that you have some pro tips under your belt – congratulations! You’re ready to get started with your domaining venture.