Domain Name can be sold in a variety of ways. This article will help ease off the process of selling a domain name and show you the steps you need to take.
Ah, if it isn’t the exciting world of Domain Names! A world of its own…
A domain name is something very important for your site – because it is likely one of the first things people notice before they scroll through your web pages. But finding a domain name can be both easy and difficult. Many users tend to trip on the wrong domain names, and they end up being sorry for buying it. Maybe you are just a domain owner who has developed their website and want to move to a new business? Or maybe you want to sell your already developed site along with the traffic that enters in it?
Either way, if you are in the market for selling a domain name, we have made this instructive article that will help you find out which is the suitable way for you to sell a domain name and what are the main points to look for when selling a domain name.
What Are the Key Factors in Selling a Domain Name?
There are several key factors that will play a big role in the process of selling a domain name. We have prepared short descriptions for each factor, so that you are prepared to form your choices when selling your business.
Factor Number 1: Your Domain Name Components
There are several components when selling your domain name that are in the name itself and bring value to potential buyers. You can look at them as your strengths and weaknesses. Some domain names may end up losing a lot of money if they are the “right” ones. Here are the main factors to look for when you formulate the price based on the name:
- The Domain Name Length – Shorter is easy to remember and convenient to type by the user but way more difficult to find when it comes to Google ranking criteria. The more unique it is and the higher demand it has in the name, the more valuable it is.
- The Domain Name Keywords – If the keyword is better, for example you have a “How to fix your car” site with guides and your domain name is “howtofixacar.guide”, then you will definitely sell it for a much higher price than something that is not related to what users are searching for in a particular field or industry. This helps your site get a better ranking so that more users can visit it.
- Brand – If you have a brand that catches the eye in your domain name and is easy to remember, this can turn quickly into your one-time cash cow. This is because people remember brand names, especially if they are short, catch the eye, are “click-bait”, are easy to type in and are very unique.
- The Domain Extension – The domain extension is very important because research shows that all the domains that end up in .com are the most sought after. But then again, be advised that these domains are also more difficult to find, so if you have a good domain name that ends in .com, be advised that it can catch the eyes of brands and people who can give millions for it. One example for this is domains such as voice.com (sold for $30 million in 2019) and hotels.com (sold for $11 million in 2001), which are basically cash cows for money; this is why they got sold for such a price.
Factor Number 2: Evaluate Your Domain Name’s Worth
This can be done by examining the following criteria of your domain name or have an expert to do that for you, which will cost you money. Nonetheless, paying an expert might turn out to be quite the investment. Determining a website value can also be done by checking the competition in the same field in other websites, like Flippa.com and GoDaddy.com – huge domain name marketplaces. So, here are the factors that play role in evaluating your domain name’s worth:
- Age of your domain – the older, the better In SEO terms.
- Traffic of your domain – higher traffic equals higher price.
- Brand – if your brand is clear and well established, the price can increase significantly.
- Domain name letters – the less letters, the more expensive the domain.
- The Competition – you really need to know the competition in sites, like Flippa.com and GoDaddy.com and their criteria and price for selling their domains, compared to yours.
- Domain Validation Services – services, like Estibot can provide informaton about your domain that can help you et your price. Other such sites, include Sedo, Domaining.com, Free Valuator, MySiteWealth, Epik, Website Outlook, DomainIndex.com and others. They are all here to show you information in details about your site that can help you set the right price and know your worth, ranking and so on. You can also use the information you found out about your website to type it as pluses in the description of the offer.
What Are the Steps to Sell A Domain Name
Now that you know what is your website “made of” and if its expensive or not, it is time to get to action. Here are the steps to sell a domain name.
Step 1: Set Your Domain’s Exact Pricing.
Use all the tools we gave you above to determine your price.This will help you a lot. If you happen to have a VIP and premium domain name, the price can easily go 5 figures and above.
Step 2: Choose where to sell your domain.
There are many reputable sites that can sell your domain. Refrain from random posts to sell your domain on third-party marketplaces and always choose a reputable and legitimate one. Here are some that can really help you get the best out of your site and some that you can trust as well:
- GoDaddy standard selling.
- GoDaddy Actions (for website auctions).
Be sure to be active with your offer. Most sites offer ways to privately contact you and be communicative and descriptive with your potential buyers – this is a sign of good trust. Also read the reviews of the buyer if he is a correct trader.
Step 3: Make sure you get your money via safe transfer.
This Is very important, even if your site is not so expensive. You should try using an Escrow account. Most marketplaces work with such and they are a modern and safe way to set up a deal and know that your transaction is safe. The main advantage of Escrow is that the buyer will not get your domain name unless he transfers the complete ammount of money and then the Escrow account makes sure that the money is ‘in your pocket’.
Here is how an Escrow transfer works:
1. The one who sells the domain will have an authorization code with the transaction which will be submitted to start the deal itself.
2. The funds will be transferred from the buyer account to the seller account after being confirmed that the transaction is not a sham by Escrow security.
3. The seller will receive the rights on the domain name.
Tip: There could be some borders as to how much will it take for the money to stay there, so be advised to keep constant communication with the buyer during the time of the deal.
Conclusion on Domain Name Selling
Selling a domain name could be a pain, but with few simple tools, you can make a huge profit from it. More so, there is the business of domain name flipping – to buy a domain and then resell it at a higher price as time and new technologies progress. But some important factors should not be skipped – to know your domain’s worth and sell it in a secure manner, so you won’t get tricked or scammed.
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