We have all heard stories of people making tons of money selling domain names. Someone bought a domain for a few hundred dollars and then sold it for tens of thousands years later.
While these stories are not as common as they used to be, you can still make money selling domains. Some people still invest in domains hoping they can sell for a profit later. Other people might buy a domain for a business idea or some other reason and then decide to sell later on.
A domain name can be an incredibly valuable asset. Businesses and other organizations might be willing to pay a lot for the right domain. If the domain is the same as their name or fits their identity, it can be valuable for branding. For others, it might be a critical part of their digital marketing strategy.
Selling a domain can be a way to make money, but you need to be careful. You will need to find buyers, and you want to make sure you get a fair selling price. Check out the following tips for selling a domain name.
Assess the Domain’s Value
Performing a valuation on a domain can be difficult. You will find a lot of sellers who either overvalue or undervalue their domains. Undervaluing is obviously bad, but if you set the value too high, you might never sell the domain.
Several factors can affect the value of a domain. The first point is the body of the name. Most buyers want something snappy, memorable and relevant to their online property. The length of the name is also a key factor. Shorter domain names with fewer words tend to draw higher prices.
The suffix is also important. If you have a .com, it will probably be more valuable than the same name with a different suffix. This isn’t to say other suffixes can’t be valuable. It just depends on the domain name, the suffix and the needs of the buyer.
Even with an understanding of these factors, it can be difficult to value a domain you own. You could consider domain appraisal services as a way to ensure an accurate value. A domain appraiser will consider all factors and return a reliable value for the domain.
Attractive Selling Points
There are other factors that could increase the value of your domain while also making it more attractive to buyers. Beyond the general points like domain length and the suffix, the domain might have unique features that make it more attractive.
For example, the age of a domain can help it sell. Older domains tend to perform better in search engines, so businesses might be willing to pay more for the enhanced online presence.
The value and attractiveness could also increase as a result of the asset being built up over the years. If you were using the domain and developed strong traffic or a good reputation, it could make the domain a more valuable asset.
Complete Your WHOIS Information
It is understandable if you were reluctant to have your contact information out there and available to the public in the past. You owned the domain, but you might not have wanted people contacting you or associating the site with you as an individual. Now that you are trying to sell, it might be worthwhile to add your contact info to the WHOIS listing associated with the domain. That way, any person or business interested in buying the domain will be able to reach you.
In simple terms, WHOIS is an internet directory that can show you information about the ownership of a domain. People can go to the site, type the domain in a search box, and it will return ownership info. However, the organization that runs WHOIS does not maintain the records. They rely on registrars and other domain businesses to submit accurate information.
Consider Selling Methods
Picking a method for selling your domain can be difficult. In theory, you could advertise your domain yourself and execute a private sale. That could be a way to save money and cut out some of the middlemen. With that said, it isn’t as easy as it sounds. Finding buyers can take time and effort as well.
Most sellers will choose to use a domain marketplace to assist with selling. Another option is to work with a domain broker. If you have a high-value domain, a broker will be able to advise you on strategy. They will help you find potential buyers that may be interested in the domain, and they can also negotiate the price.
As a final tip, take your time. If you don’t need the money now, you should be willing to wait. You should also be willing to turn down lowball offers. Some buyers may try getting you to lower the price hoping you will just want to sell. If you know the value of the domain, stick to it.
