Buying Domains Today That Make Sense To Me To Flip For Profit Later

Domaining seems to be a game of chance lately at how I monetize my daily activity. Certain windows open and close in life, businesses and ventures go up and fold while others breathe profit & take off running. The money in my bank account influences my drop catching strategy.  I often compare domain names to small relationships. Eg, a girlfriend I can lease for a year or X amount of years if I like her.  I like to put away all my emotion and clearly look at a domain name. This helps to flip domains and turn a decent profit.

It seems like the same dating & marriage rules apply to a domain name. You clearly have to ask yourself.. Can I see myself with this domain 5 years from now? How about 20 years from now? Is it Mrs. Right or is it Mrs. Right Now? why am I hoarding hundreds of domains I have no connection with? Does it make me feel better to have a financial backing in worthless domain registrations? Why aren’t I a millionaire like I felt i would be if that domain had done this or that for me or sold for seven figures?

The issue at hand is that while domains are liquid assets, the price still lies in the buyer’s eye. If there is an interest for a domain name you own, how do you handle the sale? The best advice I can give is to give the domains you sell a solid price. Trusting in  valutations and previous sales may sound good, but how can you connect with your buyer at a price that suits him or her well? Most buyers are newbies and don’t want to learn about DNS, hosting, additional web design / development and don’t care what a domain registrar is.

So this post will go on to mention things to avoid and things I like to look at in determining if a domain hold resale value.

Things to avoid if you want to sell domains:

  • Quantity of domains you hold under your belt will never compare to the quality. I’d rather have a handful of good domains versus a boatload of worthless domains.
  • The domain extension matters. I try to invest in .com domains only. Lesser extensions will not yield as big of a sale as you’d expect.
  • Don’t under-price your domains. It’s ok to dream up a big price. Don’t leave money on the table.
  • Follow through on your sales & inquiries. Don’t let time slip between an inquiry or offer to counter. Engage quickly & accurately.
  • Do not use domain privacy in your whois records. Place a valid email in your domain’s whois so people can contact you easily.

Things that help me sell domains quickly:

  • Price is key. try to nail down a good price in your head or on an offer page & stick with it.
  • Having an email that reaches me in the whois record for each domain.
  • Setting a BIN (buy it now) price on a sales lander page or parking page.
  • Easy payment & checkout / escrow capabilities.
  • Developing the domain in wordpress or other platform.
  • Posting my domains for sale on an outlet domain. For example, I am working on orbitnames to showcase the domains I own & want to sell.

The best tool I find in acquiring & selling domains is Google. Google provides a fast way of determining if a domain holds value. If you find longer domains that hold your domain in it, then it may be a good sell. I would recommend to stay away from these items in selling your domains:

Things to avoid in selling your domain names.

  • Domain Appraisals.
  • Bulk Email / Spamming such as leadrefs.com & estibot’s lead generation service that provide cookie cutters.
  • Setting your prices too low. Always aim for the stars.

I hope this helps fellow domainers in selling their domains names for big bucks. Never forget that sometimes setting a higher price is ok & it does work. If anything, work with the customer in setting a price you are both comfortable with.

Following these experiences will hopefully assist you in putting your domains for sale & securing a sale for your domain names.

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5 Comments »

 
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  • “Setting a BIN (buy it now) price on a sales lander page or parking page.”

    I think setting BIN makes the potential buyer go away. I would suggest to keep it simple and let the buyer come to me. At least I would get the email ID of interested party so I can be in touch with him anytime.

    “Developing the domain in wordpress or other platform.”

    I would NEVER develop a domain if my intention is to sell because most of the response come if my domain is parked and clearly mentioned the domain is for sale.

    “Spamming such as leadrefs.com”

    I would say it depends. If we use leadreafs without seeing properly to whom we are sending email than you are right. If one is cautious while selecting the email ID by knowing who the buyer is (whether it’s end user or reseller) than it’s good to use this site. I recommend others to use NameDroppers.com which is quite similar service to leadrefs but doesn’t give out email ID’s.

  • admin says:

    Hello Abdul,

    Personally, I find that setting a BIN price helps motivate the buyer to purchase the domain. It may be luck at my end, but in comparison to not setting BIN pricing, I find that domains with BIN prices sell better.

    It may be that I have wordpress themes setup that are for sale landers. I use fantastico to automate the wordpress install, so it creates the install on the fly in seconds. I then apply my for sale landing page which educates a potential buyer about the pricing & purchase information on the domain.

    I agree about leadrefs, you really need to do the manual work to weed out the good leads from the bad. Usually I find myself just using google & I end up calling end users on the phone who usually don’t have a website, but appear on YELP or other search results. So that is why I mention staying away from such services. If you are going to do the work yourself, you’ll find that you can find a lot more leads on your own with manual work than leadrefs or other services can provide.

    Dan

  • Tommy Craig says:

    Hi All,

    In my opinion, I think it depends on what the buyer thinks about BIN, I mean all buyers are not the same. I’m not saying that I am against with Abdul but what I am trying to say is that it doesn’t apply in general. Some buyers consider the idea of BIN while some doesn’t.

    domainka.com is one of my known source of buy and sell domains and I see lots of buyers and sellers are negotiating with them.

  • admin says:

    Hello Tommy,

    I understand not all buyers are the same. The BIN (Buy It Now) will not appeal all buyers, it’s a lot to do with luck in general IMHO. I am not familiar with Domainka.com – but it doesn’t look like something that’s going to compete with SEDO.

    Dan

 

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