As the domain names have become affordable for everyone, we all have the habit of purchasing impressive domain names and never using them. If that is the case, how about getting rid of the unused domain names by earning some money? For this, it is crucial to have complete knowledge about the procedure of selling the domain names. With a bird’s eye view, this process might look very simple to you however until the domain trader is aware of the entire process, it’s not that simple.
In this article, we are going to feature information about selling a domain name. This information is going to prove beneficial to every domain name owner. The steps for buying, negotiating for the best price, finding a safe payment system and sealing the transactions are also mentioned.
How Do I Sell A Domain Name?
For selling a domain name, you must know how to price it. Many sellers are not good at selling the domain names in the marketplace just because they overprice the domain. As a result of this, they lose the possibilities of selling the domain names. The buyers who are experienced will never try to bargain unless you have an extremely unique and rare domain name. Thereby, it is crucial for a seller to understand the true value of the domain name. What price will he get from the buyer? What suffix should be used? For example, the .com domains have higher possibilities of getting sold. Similarly, .info, .net, .org and .in domains are great when it comes to making a decent profit.
Selling the domain names no one has heard of is a difficult task. The short domain names have the highest value as they are rare and easy to sell and they get a great deal of profit. The domain names that have an easy spelling attract the buyers thereby providing the sellers with a good opportunity to make a profit. Sellers should identify the premium domain names. Domain names having dictionary-singular names are the hottest trends on the internet. Buyers are prepared to pay a huge sum of money for purchasing them. Short domain names are more likely to get the buyers as compared to the long ones. It is also crucial to note that the unhyphenated domain names have more value. Also, the product-related domain names provide with a huge earning opportunity to the sellers. Once a seller has some degree of knowledge about the domain name, he can start looking for buyers.
Where To Find Domain Name Buyers?
Once you have taken the decision to sell the domain name, the next step is to find the best market to sell it. The best approach is to contact the buyers directly. If you are in contact with someone who deals with domain names, contact that person without any middleman, in this way there are greater possibilities for the seller to make profit as he will not have to pay the charges to the middleman. Another great way of locating the buyers is selling on auction websites. You can list your domain name on these websites. Find a reputed website where brokers deal with a wide range of domain names.
Negotiating With A Buyer
Once you have finalized the marketplace where you wish to sell the domain name, the next move is to grab the attention of the buyers. The most important thing to be noted is that the buyers always prefer dealing with the sellers who have a professional approach. This is the reason why sellers must have in-depth knowledge of the domain name that they are selling. It is also crucial to keep a track of the incoming traffic that the domain receives and the expiry date of the domain as well. The seller should also give a clarification if the domain name is earning any money. This will help in specifying the correct value of the domain name in the market.
The sellers will come across some buyers who are hard to crack and these buyers will quote an extremely low offer. In this case, provide an explanation to the buyers about why the domain name is worth a higher value in comparison to the quote. If the potential buyer is not in agreement, just move on to the next buyer until you get the best, don’t settle for anything your domain is not worth of. Once the deal is finalized, use the best mode of payment for completing the transaction.
Secure Domain Escrow (Guarantee) And Its Benefits
While selling a domain name, you don’t want to be a target of failed transactions or being tricked by the defaulters. It is crucial to secure your transactions through a domain transfer and escrow service. The escrow service is highly favorable because the buyer has to pay the money at a trusted source before the purchase. The transactions between the buyer and the seller are done through a secure domain transfer and escrow process. As a result of this, the complete transaction is safeguarded for both the parties along with the incorporation of a third party.
Seal The Transaction And Get The Payment
It’s time to transfer the domain name. Every website has its own process for domain transfer. Generally, the sellers have to submit an authorization code in the domain-selling website, this will initiate the transfer process. Once the transfer process is done, the seller can proceed in terms of transferring the funds to his personal account. If you are using an escrow service, make sure to check the minimum number of days the amount must be kept in the escrow account before completing the transaction. You can also use Wire Transfer or PayPal for transferring the money. There are some limitations to PayPal with regards to some countries, it would be better to have a look at the PayPal country regulations before proceeding.
Hope this article makes it easy for you to sell the domain name. It’s all about knowing the right thing and taking the right action at the right time through the right sources!