How to Sell Your Domain Names and Make Profit
Do you want to sell your domain names? Possibly, you registered a domain name for your upcoming big business idea that didn’t work out. Or you might be a domain investor who purchases domain names with the aim of selling them to make a huge profit.
Every month, people sell tons of domain names having worth of millions of dollars to those businesses willing to launch a website using these already-acquired domain names.
So, if you have a few domains to sell, read on our post to get an overview of how to sell your domain names to make a profit
How to sell your domain names
1. Organize your Domain Inventory
It all begins with understanding your domain inventory which comprises of the domain names that you want to sell. Probably, you’ll have some domain names that you use for a site or email address and certainly don’t want to sell those.
You might also have a few domain names that aren’t in your use currently but you don’t want to sell them. Or, you have a domain name registered in the name of your loved one or it represents your business service that you aren’t willing to give up on at present.
Read more: Top 10 Tips to Find the Perfect Domain Name
If any of these fit your situation, simply set those domain names aside and look at the remaining ones in your portfolio. These are the domain names you want to sell, assuming that you can get the amount you want for them.
Start by creating a list in the spreadsheet like Google Sheets or Microsoft Excel. Enter the domain names in one column and to keep everything well-organized, enter the expiration date in the other column for keeping the track.
2. Assign the Right Price
Once you have the list of domain names ready for sale, it’s time to define their prices in your inventory.
Setting a price isn’t compulsory. You can add domain names without their prices and allow people to make an offer on them. However, setting a price for your domain names can be favorable many a time.
Here are some of the benefits of setting a price for domains in the list:
- You can go through the pricing exercise once rather than each time a person inquires about purchasing a domain.
- Some domain names marketplaces syndicate your listing to different registrars and websites in case you have listed a price. This way, your domain gets more publicity and the chances increase that they will sell.
- There is no need to respond to the potential domain buyers who are unwilling to pay the defined price. Suppose if you list the domain for $1000 and somebody can only pay $100. Then there is no point in accepting the unrealistically low offer.
- Buyers will buy domain names quickly without any negotiation. This results in saving the buyer’s and seller’s precious time.
Read more: Top 20 Most Highly-Priced Domain Names
Most of the time, setting a fixed rate on lower-priced domains and leaving your favorites unpriced is quite justifiable. You’ll find different pricing scales everywhere. But many of the domains get sold for less than $3000. If you think you have some valuable domain names, you are free to set those aside without defining a price. Start assigning prices to the rest of the domain names.
Understanding how to set a price to your domains isn’t something easy-peasy. Since all domain names are unique, it is not simple to assign prices like we do when pricing a house using the average price per square foot.
If you are a novice in this industry, it is better to spend some time to figure out how domain names are sold. Below are some of the reliable resources:
- DNPric.es and NameBio.com provide searchable databases of former domains sales. Find the domain names with your keywords to see how much they have sold for back then and use this as a reference guide.
- Automated domain appraisal tools like Godaddy Domain Appraisals or Estibot should be taken as something not completely right. However, they are useful for determining which domain names are worth more than others. They use various factors for determining valuations. Including the availability of a domain in multiple extensions and keyword search volume. Use these metrics when you price your domains.
- A forum named NamePros is for domain investors where you can find several people ready to assist you in determining the best price to ask for domain names.
Read more: How to Get Started with Domain Investing
Setting prices for your domain names can become interesting once you understand the market for domain names.
As soon as you figure out the prices, include another column in your spreadsheet and assign how much you want to sell every domain for.
3. Leave Domains with a Message and List
Remember that your list of domain sales is useless as long as people don’t realize that those domain names are for sale. This would be like attempting to sell your car without bringing it into people’s knowledge.
It is essential for leaving your domain names with a message that says it’s available for sale and listing them on some important marketplaces.
This process is quite simple. When leaving a domain with a message that it’s for sale, people interested in that particular domain while typing it into their browser will know that the domain name can be purchased and they end up contacting you.
Many services are available that helps in parking domains with “for sale” messages, of which the most popular are Dan.com and Efty.com.
As most of the sales originate when people type a particular domain to see its availability. It is also important to make your domains appear in front of people when they search for a domain at the domain registrar to see if it is available or not.
In such a scenario, domain name marketplaces like Afternic are quite helpful. When you put a domain for sale on such a platform, you have the choice of having the services syndicate your listing to registrars where people register domains.
For syndicating your domain names, it is important for your domain name registrars to be a part of the marketplace’s network. If a registrar presently works with Afternic, any domain registered can be syndicated through Afternic’s Fast Transfer network.
Also, both Sedo and Afternic offer parking pages for free and take a share on every domain sale instead of asking for the registration fee, indicating that it is free for getting started.
Once you have set the price for your domain names and added them to the list for sale. It is time to chill out and see the money piling up. Right?
Well, not exactly. Selling a domain name takes time depending on the number of domains one has. People with a huge inventory of domain names normally expect to sell 1-2% of them a year. Therefore, if you have nearly 100 domain names, you might sell 1 to 2 in a year.
Read more: Top 6 Important Domain Name Trends in 2020
Don’t be despondent if you only have a few domain names to sell. It feels wonderful when you see a domain giving you thousands of dollars when it gets sold. You’ll understand everything about how to sell a domain name and in no time, you’ll be amongst the top domain investors.