Ways on How to Make Money from Buying and Selling Domain Names
Another great idea on how to make money through buying and selling from the comforts of our homes. It is through domain name flipping. With this kind of business in mind, we need to know where to get the best ones. And, the marketplace to sell it.
But before moving forward, let us define what domain flipping is.
It is the act of buying an item at a lesser cost and selling it with a markup.
Now, getting a better picture, aren’t you? Yet, before jumping into that nice idea running through our head. Take a pause and ask yourself these following questions:
Where is the best marketplace to buy good domains?
Where are you going to sell it?
How can the domain be transferred to the buyer?
For how much are you selling a domain name?
How will you handle trademark issues on this?
Yes, ALL buying and selling businesses are potential to earn you profit. But you need to make right strategies to make it work and profitable. So, those questions above are very important and will serve as your map towards success.
Read on to know the steps towards this profitable business.
Steps to Earn Profits from Domain Name Buying and Selling
Step #1: Learn how to buy domain Names.
This is the first thing you will have to master. Be knowledgeable about where are the best sources of the good domain names that you can buy and trade later on. The reputation of your supplier matters. As you won’t like to end up getting something unsaleable.
Search the domain name that you have chosen. Then, if it is available, you can buy for a few dollars per annum.
In an event that the chosen name is registered to another person, find the owner to know if they will sell it.
Other domain names became expired for several reasons. These are also good items to buy once it is open to being resold.
- You cannot buy a domain name if it has been trademarked by a company.
- Never use a company or person’s identity to buy that domain.
Step #2: Selling
Marketing your domain name is the best way to have it sold. So the good avenue is to place an ad on the landing pages of your website. By then, any potential and interested buyers can contact you.
Yet, the best way to let others know that you are selling your domain name is to have it listed on marketplaces. This is platforms intended for domain selling. If the domain registrar where you have bought your domain has a marketplace. Then, list it there as well. To name a few, you can check NameJet, Flippa or Sedo.
Tips to sell your domain name:
- Give a fixed price for each domain name.
- Or you can set up an auction and invite interested buyers and the highest bidder will take the name.
- Make a decent deal to potential buyers.
Step #3: Transfer of domain name ownership
This is an important step. To keep you away from future undesirable events of ownership issues. You need to know what you are getting into to make this task easy. For security purposes, you need to complete this process in only one phase.
Here is your quick guide for the transferring procedure:
#3.1: There must be an agreed finalized term with the buying party.
#3.2: Double check in the length of the time left you got on your domain name.
#3.3: Let the buyer set up an account with the registrar with the domain name registered.
#3.4: Change applicable settings.
#3.5: Let the buyer submit the transfer request.
#3.6: Accept and finish the transfer supplication.
Read How to Transfer a Website Guide, for the detailed and step by step process.
The principle behind buying and selling domain names is so simple. We get it at a lower price and sell it at a higher price. Then, we profit. Yet, with the basic knowledge of business, it is, all the same, it needs familiarization and skill.
Domain name selling started with the creation or buying an old, existing or expired ones. But by the time you are going to sell it, make sure that it is in its best condition. Reaping small or big profits will always boil down to good ethics and practices. And, it makes this business even better.