Domain flipping experts believe that once you buy a domain, it is considered hot property, which means you will have to go through the trouble of picking the right opportunities at the right time to seal the deal. To become a successful domain flipper, you need people with marketing expertise as well as research, negotiation and networking skills. Now here is something you need to understand when it comes to flipping domains successfully — just because someone spends an enormous amount of money on a domain name does not necessarily mean they will throw big bucks to get a similar name too.
Never base your domain flipping strategy on such assumptions because that rarely ever happens. Every domain name piques the interest of the buyer due to a unique reason and the sale that follows is just as unique as the reason why the buyer wants to spend a huge sum of money on that particular domain name.
Just like any other field of business, you need relevant experience to become a successful domain flipper. Buying domain names and then selling them at a higher rate is not a piece of cake.
How To Sell A Domain Name | HostGator Blog
You need to stay under the radar for at least a year and learn everything related to domain flipping before you can start selling domains for a profit. In the beginning, you will make several major blunders like losing money over useless domain names, missing prospective deals and much more; but slowly, you will get the hang of it. The road to flipping domains for sums is not easy; you need to climb a steep learning curve before you can become a pro.
As discussed before, you will have to put in a considerable amount of time and effort in order to sell a domain name for profit. Hey, the possibilities are endless when it comes to domain flipping so do not think that all profitable domain names are already taken. At this time, almost 90 million. COM domains have been registered, so people tend to think that there are not many good domains left.
That is not true since you still have the opportunity to incorporate two or three word target keywords. Also, you can still explore new avenues with domain names that have never been used before or are about to expire anytime soon.
Such domain names inevitably make their way into the marketplace again where you can get hold of them. You can easily get hold of such domain names by using advanced tools for filtering and research. But once again, this statement holds no water.
Indeed, GoDaddy is perhaps the cheapest and biggest domain registrar in the world of domain flipping so much so that people use the term GoDaddy with domain registrar interchangeably. This is because they run massive marketing and advertising campaigns that pique the interest of buyers. However, GoDaddy is not the only kingpin when it comes to the domain registration business. There are many other great places for buying domains with excellent customer service and security support like Namecheap, Domain.
Another point of concern is that many people feel that squatting or registering domains is unethical. This is because many web developers have a hard time finding relevant domain names for their projects since most of them have already been registered. Many corporate giants also frown upon the domain flipping industry because many domain names relevant to them are already registered. However, domain flipping is legal because buying domain names has been a legal practice ever since the internet came into being in the 90s.
Treat domain names as real estate property sold in the offline world. Many advertisers and marketers are concerned that social media will soon replace domain names completely and make them go obsolete.
This fear is even more real nowadays because many online businesses and startups are using the power of social media to connect to their target audience.
But if you just weigh the pros and cons of having a domain name for your business solely, you will see that having a social media profile is just not enough. You will also have to put in a considerable amount of time and energy to turn this idea into a profitable strategy as it is quite time consuming. Yes, domain flipping may require a great deal of practice and expertise but once you get the hang of it, you will be able to make quite a decent amount of money by flipping domains on a regular basis.
Below are some great tips for newbie domain flippers that you might find helpful. Just like any other business that you would normally startup, you must first know your budget.
In order to start a profitable business, take some time out to do financial calculations. It is always best to start off by investing a small amount of money and then move on to making a bigger investment once you are set in the field.
Selecting a profitable niche is very important when it comes to domain flipping. Having adequate knowledge in searching domain names is critical. It will help you with fishing as well as parking domain names. Carving out a niche for yourself will enable you to seek out prospective buyers actively who would be interested in the domain names you are offering. Before you park any domain names, you must focus on finding hot keywords that buyers would be interested in. The best way to make sure you get a good return on your investment is to pick a domain name with acceptable traffic, somewhere around 10, searches a month.
It is mind boggling how local search engine optimization has grown from a tiny market to a mammoth industry within a span of ten years or so. This is also one of the reasons why focusing majorly on local names is profitable. From doctors to pizza parlors to salons, everyone wants to see their business thrive on the first page of Google Search results with the help of target keywords.
The best way to pick winning local domain names is to search for them at places like GoDaddy and Namecheap. Yes, buying existing domain names can be profitable too. Existing domains with a potential for profit can be found using Sedo. Make sure you pick domain names that have good traffic, backlinks and Google PageRank under 17 characters. Also, steer clear of existing domain names containing special characters or numbers because they are not likely to be sold. Picking domain names by typing in relevant keywords on Namecheap has become increasingly popular.
If you want to buy and sell domain names professionally, try using Millionaire Society.
How To Earn Money Buying and Selling Domain Names
Once you have found the domain name of your choice, you can log onto Alexa. Many top-level domains, or TLDs, out there have the potential of being sold at top dollar rates. All you have to do is conduct thorough research in order to find all the good domain names you can park. Even though generic domain names are usually taken, there may be some unregistered domain names. GoDaddy, Namecheap and Flippa. The process will differ from selling a websitehowever. Below we cover the process of discovering the value of your domain name and hopefully selling it for a nice sum.
A lot of people end up overpricing their domains and wonder why they never have any interest. Spend time researching what other related domains have sold for. You can use the tool Namebio to determine what other similar domains have sold for. You can use them as a general indicator, but not as a true measure of value.
If they can find your contact information in the WHOIS directorythey can contact you directly and offer to buy the domain name from you. You can update your contact information through your website host or read more about how to update your contact information on WHOIS. A lot of sellers just upload their URL and call it a day.
However, you can maximize your chances of selling your domain by making it more attractive. For example, does your domain have any existing traffic? Does the domain have considerable age?
Does your domain have any existing authority? By highlighting the current and potential value of the domain you can help to justify the price and make it more attractive to buyers. One way to safeguarding the selling of your domain is to use an escrow service. This will help you avoid being scammed or tricked by a potential buyer. Some selling platforms like Sedo have a built-in escrow process for every transaction done through the site. This will take a percentage of the final price, but safeguarding your domain is well worth it.
The process you use will differ depending on how you decided to sell your site. Learning how to sell a domain name is a lengthy process, but one that could be potentially financially rewarding. After veting my list for a while, I knew I only had a budget to buy 2 domain names. So I limited my selection to the very best.
Sad Fact: You have to renew your ownership of domains every year. You have to let people know you have it for sale and how it can benefit them. They take so much because they are providing the audience that is actively looking for buying and selling domain names. Sometimes not at all. Not many people make buying and selling domain names a full time business. A lot of people who are regularly buying and selling domain names have a portfolio of hundreds of domain names.
How To Earn Money Buying and Selling Domain Names
We covered a lot, what is domain flipping, some crazy success stories and step by step guide to buying and selling domain names. This is something you could totally start right now as another way to make money.
The fun part of this is the potential to discover those hidden gems like hotels. I can be on the lookout for website domains in upcoming trends. Nice article guys! Another article idea that is related would be buying expired domains and either trying to resell or pickup where the previous owner left off and build a profitable site. After looking over the auction sites of some of these domains, I could totally try that for an affiliate website or as you say build our PBN.
Thanks for the great review on domain flipping. I could definitely see myself getting into domain flipping down the road. I constantly find myself thinking of domains that are probably worth buying. But the way you have presented and analyzed which keywords get the most page views makes it more like long term investing.
I also never considered trying to market the domain names or that Adsense money could be generated. Thanks for sharing and good luck with your domains!
Find out, most of them are taken, but not all. Maybe a joke page for ReallyFunnyJoke. I could totally do this!
Best Way to Buy the Right Domains to Sell for Profit in
Very interesting article — thanks for the details and sharing how you bought two domains. It will be interesting to see how it goes! Good luck! Hey Wallet, excellent write-up. I never knew that this simple term has lots of potential within. I am going to bookmark this and would definitely give it a try. Thanks a lot man. Happy new year. Happy New Year!