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How To Not Lose Money When Selling Your Domain Name

Posted by on 03 January 2013.

When it comes to domain names, there are a number of methods that you can employ in order to be profitable. There are many people on the web who purchase domain names in advance, in the hopes that in the future, those domain names will be sought after by another entity. The hope is that these entities will also be willing to pay a substantial bit of money for them. Therefore, by purchasing domain names wisely, a person can potentially just sit on the domain name and make a bit of profit out of it.

The choice of which domain name to purchase requires a lot of thought and research. Also, once you have purchased your domain names, there are several methods to sell your domain names that you can choose from.

Selling a domain name

There are two ways by which you can sell a domain name. You can choose to sell the domain names via domain name auction websites, or you can use specialist websites that facilitate the selling of domain names.

The first option is for those users who are willing to wait. On domain name auction websites, you have to have the time and patience to wait for people to come in and to bid properly for the domain name that you are selling. The more you wait translates into a higher chances that you’ll hit the selling price you want, as long as it’s reasonably priced.

On the other hand, using websites that facilitate the selling of domain names is an easier process. All that you have to do is to submit your domain name to them and they will find you a buyer. However, these companies will charge a fee for their services, which is normally a percentage of the total selling price of the domain name.

Promoting your domain name

A domain name is sold like any other product or service. Therefore, it is important to make sure that you properly promote it so that you are able to attract as many potential buyers as possible. Good promotion will also allow you to get a great price if you are thinking about auctioning off your domain name.

Negotiating with Interested Buyers

When you are selling your domain name, you will be contacted by a number of interested parties. It is important to engage them properly if you want to get a good price. Many parties will inquire about whether it’s possible to have your asking price lowered. Rather than ignoring these queries, you should provide them with information regarding the value of the domain name and why you are opting for the price that you have set.

Transferring a Domain Name

Once you have found a buyer and agreed on a price, it is important to transfer the domain to the buyer as soon as possible. If you are using a company like Escrow for the transaction, you should know that they will hold the funds in escrow, and will only transfer the funds into your account when you have transferred ownership of the domain name. If you are in the business of selling domain names, then it is all the more important for you to conduct your deals in a professional manner and transfer ownership of domain names promptly, in order to get good ratings.