So you buy a domain name and you feel like a rock star thinking you just got your hands on the best domain name ever. Then it hits you… how do I even sell this domain and make money on it?
The concept of selling a domain is quite simple but actually executing it will require you to understand 2 very important domain selling methods.
The 1st Domain Selling Method – Using A Domain Name Broker
One of the most common and hand free ways to sell your domain will be using a domain broker who has some great buyer and investor contacts as well as experience in selling domains. In our case interesting enough, this was the method we use when we sold our very first domain name!
So the way it played it out was very simple we bought the name over at Godaddy Closeouts for about $12 (+ renewal). Once we had the name we had no idea what to do when it came to selling it. We were not experienced with auction sites or marketplaces in regards to domain names. We had a bit of experience with Flippa because we sold some websites on their a few years prior. But domain name only sales are a different beast altogether.
We kept getting emails from a newsletter and they wrote asking for people to submit names to sell and they would take a commission once the name sold.
Believe it or not, the first name we ever sold was a .org!
It turned out to be a great success as we were able to sell it within a couple of weeks and made over 10 times what we paid for it. We were so excited since it was our first sale after all. It didn’t hit us till later that we could have made a lot more profit by selling it on our own (the broker took about 50%, horrible fees yes I know but its in the past).
The 2nd Domain Selling Method – Auction/Marketplace Sites
I’m sure many of you are familiar with this way of selling a domain and you have probably heard of sites/market places like Flippa, Godaddy Auction, NameJet, Sedo and many more. For the next 3 domains we sold, we decided to take advantage of some of these market places and also one sale ended up coming from someone reaching out to us (inbound inquiry).
Let’s Not Forget Sites Like Namepros.com
A very memorable sale we had was actually a .net that we tried to sell in Flippa and did not get any hits, on Godaddy Auctions and no results there either. We had about 3 weeks before the domain was going to expire so we decided to try to list over at NamePros Auctions. We noticed a lot of auctions getting lots of attention in their auction section so thought we might as well give it a try.
We put it up and within a week we made a low $xxx sale. Pretty awesome on a domain that could not sell anywhere else. NamePros is an awesome place to learn all about the domain industry but they also have some great sections where you can buy domains and put your domains for sale, make sure to take full advantage of that. We made a video all about how great NamePros Auctions are check it out!
Additional Methods and Selling Techniques
One of the most important techniques we use is put a this domain is for sale sign on all our domains, this way if someone is interested they can just send us a message with an offer for the domain.
Personally, having a parked page with PPC ads everywhere can distract someone who may WANT to purchase a name. They could assume its a spam page. Theirs a lot of things the human mind could think, that’s why we like to have a BIG sign letting them know the domain name is for sale and give them an easy way to contact us.
By using method #2, we were able to make some good profit on several names in the past months and we break it down a bit more in our post Flipping a domain in 5 days for 10x what we paid. Of course, this does not make it better but it is our preference going forward as we continue to learn to sell more effectively. And that’s what this blog is pretty much about, to share with you what we’re doing and what may and may not work.
Thoughts & Suggestions
You will be able to sell your domain by using either method as I mentioned before it really comes down to your preference and also the type of domain you have. One thing I definitely encourage especially starting out is focus on gaining small wins in profit and celebrate those wins, preferably Tacobell style! This will help you stay focused and keep going in both buying and selling domain names.
Image credit : Point 2