Quick Guide for Buying and Selling Domain Names
How to build your brand, get traffic and sales by using this guide to buying and selling domain names.
When choosing domains and hosting for your site, it is wise to think of the process as buying a new house. Your domain will be the address of your website and the hosting service will be its home. At the end of the day, this information will influence how many visitors you get and the amount of sales you end up making. If you are having trouble choosing the best domain name for your website, you can always make use of expired domains.
Expired domains are those domain names that have not been renewed for more than 30 days. You can bid on them in domain auctions. All in all, before you start searching the market for your ideal domain name, there are a few things you need to understand.
Types of domain speculation
Domain speculation is simply the art of judging the value of a domain name you are about to buy. This is a very important practice when buying expired domains. You ought to remember that the reason why most people abandon their domains is because the domain names have either been banned or have proven effective.
There are basically two main types of domain speculation. The first is that of people who buy domains to build websites around them. Some will even flip the old website so that it becomes their own with their own unique content. The second group of people is that which buys the domains and sells them independently with no website attached.
It is important to understand the two types of domain speculations before logging into an auction. Your needs will help you know what you really need from a domain name in order to achieve your online goals.
How to obtain a domain name
It is easy to find a domain name but it is more difficult to find a domain name that will actually be profitable. There are numerous factors that determine the value of a domain with the major factors including memorability and search engine optimization/keywords. In addition to that, the domain name has to be related to your business.
Auction sites give the best opportunities to purchase great domain names that are valuable. This option is great because first, any domain that has been listed on the auction was purchased and has hence been researched for its potential benefits. Second, most of the expired domain names still retain their search engine optimization attributes that were built by the previous owner.
More often than not, recently expired domains still have quality backlinks which can help you achieve better page ranking. It will hence give you instant search engine optimization gratification with the least amount of effort. Simply put, finding the best domain auction is the fastest way to find and obtain quality domain names.
How to sell a domain name
Acquiring the best domain name is simple. The real work starts when it comes to finding the right buyer. Again, auctions sites offer the best ways to find qualified buyers that are really interested in the domain you are selling. You can also make use of online forums. Auctions and forms eliminate the stress of creating demand for your domain on yourself.
Forums work best in advertising domains that are related to a certain niche. You simply place a link in the signature of the posts you add. This will speed up the process at which you sell the domain. Webmaster forums are the best to advertise your domain names.
Be patient
More often than not, it takes weeks and even months to sell domains especially those that don’t have a website attached. Therefore, you should not be discouraged if it takes longer than expected to sell your domain name. Instead of focusing on selling one domain name, sell volumes and over a longer period of time.
Do your research
Whether you are buying a domain name for personal use or to resell it for profit, you must always research before buying it. As aforementioned, most of the expired domains available are not worth investing in. Some of them have been abandoned not because the previous owner lacked money to renew them but because they were banned.
It is up to you to do background checks to ensure the domain you are about to buy is of good quality. You should research to know how many properties are in the same area as this will have an impact on your success during actions. For example, if so many people are selling similar domains, getting a good price for your related domain will be difficult.
How to outbid the competition in an auction
Now that you know how to purchase and sell domain names, it is time to look at some of the ways you can outbid the competition.
Conclusion
Finding the best domain name matters a lot regardless of whether you are a reseller or not. Do not be in a hurry to purchase just any domain name that comes your way. Think of it as your home’s address. The right domain name should have great page ranking, a great reputation, be SEO optimized and should also be related to your business.
