Finding Your DomainTo start, you obviously need to have domains to sell. There are millions of domains already registered and finding the right ones to buy can be taxing. The first thing that you need to do is narrow down your focus. It is prudent that you start with what you know or what you are passionate in. There are various industries and niches that you can start investing in, but only go for what you are well knowledgeable about. Why should this be the case? First, you need to look at how easy it will be for you to sell a domain to someone in that field in which your domain will be under. The more familiar you are with the industry, the easier it will be for you to sell it.
After narrowing down on the industries and niches that you are comfortably versed in, the next step is checking on the availability of the domain. I can assure you that a vast majority of the domains that you will be searching for will be more likely than not taken. This doesn’t have to stop you though; the aftermarket is a great place where you can get those domains that are about to expire since the previous owners do not plan to use them.
The only way to know that you are getting a good deal is if you evaluate the price of the domain. Evaluating the price of the domain requires that you go through other similar domains and see their prices. This will give you an idea of whether or not you are getting a good deal.
Selling Your DomainAfter identifying the domains that you are interested in selling, the next step is getting your domains to the market. So where do you find the buyers for your domains? The answer lays in auctions, and there are a number of sites where you can put up your domain for sale. Choosing the right place to sell your domain should be done with tact.
You first need to establish the credibility of the venue. You don’t want to find yourself in a situation where you have surrendered your domain and you have not been paid or that your potential buyer does not get the domain name that they have paid for. With a credible venue, you can be confident that you will be getting the value that you have worked for.
Other than credibility of the venue you are selling your domain at, you need to check on the strength of their distribution network. You need to research into the potential buyers that your domain will be visible to. The higher the number of potential buyers, the better it is for you to use that venue.
Since you will already be familiar with the niche in which that particular domain can be used in, you can reach out to people you know and that will be interested in domains that you have purchased.
What To ExpectOne thing that is for sure is that it is not an overnight success story. Therefore, it will take some time for you to be able to make it a success in the long run. Look at domain flipping as a long term business and you can be sure to enjoy profits, no matter how big or small. By buying regularly and selling at a decent profit, you will get better and better and sooner than later you will get to enjoy higher returns.
As you have gauged from this article, it is easy to see that domain flipping is not a passive process. You need to constantly keep up by buying and selling domains which requires your time and energy especially when finding the buyer. This means that you need to work on your research, networking and negotiating skills for you to make the most out of the domain flipping business.
Like any trade, you will have to take time to learn and gain experience that you need to make you an expert. When you start out it will be easy to make a lot of mistakes, but with practice you can be confident of growing in the trade and you will know what domain names to buy and where and how you will get the best buyers. One skill you will need to learn is finding hot keywords. These keywords need to be interesting so as to have a great resale value for you. Generic names for instance would be great as they can be used to describe services or products. Another way of finding the perfect keywords is by joining geographic names with business practices. Such can be sold easily. Leveraging on events is also a great way to get domains that you can easily sell.
With that being said, it needs to be emphasized that domain flipping is not a passive business. Though this is the case, it is possible to get good returns from domain flipping. By keeping your eye open to trends around you and buying selectively in the areas that you are more invested in, the higher your chances of making this work for you as a business.