7 steps to sell a Domain name and make profit
Sometimes you purchased a domain name for your website but have no time or less time to maintain that, so you leave the domain unused. Also maybe your current domain name is no longer relatable with your website, and you would like to switch to a new one. Let’s learn how to sell a domain name that will help you make money online from these unused assets or even start a new business.
1. Park your domain name:
When you park a domain, you can reserve it for future use and also reduce the risk of cybersquatting. Here has an interesting thing to say, some domain parking services allow you to generate revenue by displaying advertisements on landing pages created for the domains. Those people should consider this practice who plan to create a business out of selling domains.
2. Check the value of your domain name:
Before pricing a domain name, firstly check that is it really valuable to the market? Because people are always interested to purchase a domain that has the potential to generate revenue in the future. This method will help your business to grow faster because there has a trust issue that which domain you are selling is valuable to the market.
3. Decide a pricing strategy:
After researching what your domain might sell for, now it’s the most important time to determine a pricing strategy. Naturally, there are two methods to choose from:
- Fixed Price:- In this pricing strategy, the price of domains is fixed. In this strategy, the seller sets a specific price for the domain, and an interested buyer can purchase the domain immediately without negotiating.
- Fixable Price:- This strategy is more effective than the “Fixed Price” strategy for selling domains. In This strategy, you’ll receive an offer from a potential buyer then, you can start negotiating until you reach the desired price.
Usually, it’s best to use fixed prices for lower-priced domains and flexible prices when selling a premium domain name.
4. Where to sell the domain name:
One of the important things to notice about where to sell the domain name is when you sell a domain name, you have to find the right marketplace. Below have some options for selling your domain name…
- Privately sell the domain name:- This is the shortest way to sell domain names without involving any other parties. To make a direct sale, create a landing page for the domain. Add a message “domain for sale” and consider including a domain portfolio, an inquiry form, and contact details so potential buyers can reach you. (A website builder- Zyro)
- Sell on an online domain marketplace:- Another way for your domain to find buyers is to register it on a popular domain selling platform. These platforms offer beneficial features like integrated escrow services and a user-friendly interface, and have considerable web traffic, increasing your domain’s exposure. To sell a domain, simply set the domain price in the domain manager of the preferred site. At Afternic, sellers can set a fixed price or hold an auction. On the other way, Efty requires setting fixed prices for sellers. (Online domain marketplace- Afternic, Efty)
- Sell on the auction sites:- a great way to generate interest in your domain is by selling domains at an auction site. In a typical online auction, a domain seller can make a listing and sets a starting price. Then, the high bidder wins and becomes the new owner of the domain. When you use auction sites, we recommend raising the domain’s price, preferably 5 to 15% from its actual price. (Online auction sites- Sedo, Flippa)
- Via a domain name broker:- When you sell a highly sought-after domain, a professional broker might facilitate the sale and help you to sell your domain name for the best price. In some cases, domain name brokers work on a commission-only basis, meaning they get paid based on the final sales price. Thus, before entering into a contract with a domain broker, check the terms and conditions and whether there are upfront fees. (Domain name broker- MediaOptions, Grit Brokerage)
5. Optimize the Domain Listing:
A well-optimized domain listing can attract the attention of potential buyers. Below have some ways to optimize your domain listing.
- Advertise the domain’s best features:- Show the important benefits of the domain to increase its price. Like, share current traffic statistics, how much ad revenue it generates every month, and if you’re also selling the corresponding social media handles.
- Banner ads Create:- Design a simple banner with a short text – the domain price and a call to action – that leads to your domain’s landing page.
- Update your information on the WHOIS record:- In a Whois record displays domain ownership information, including their name and contact info. By using a Whois lookup tool, buyers will be able to reach out and offer to buy the domain.
- Show the domain on social media:- Firstly set up social media pages for your domains then join domain selling groups, and network with other sellers. You should regularly post useful content and join discussions on those pages for more engagement.
6. To protect your domain name use an Escrow Service:
An escrow connects the buyer and seller and ensures that both parties agree to the transaction/sell terms. It refers to a trusted body that acts as a neutral third party.
Likewise, the buyer will only get the domain name after paying the settled amount to an escrow account. Also, the seller will get the money once the buyer confirms they’ve received the selected domain.
You could get a free escrow service if you’re selling the domain on marketplaces/auction sites. On other hand, you may need to purchase an escrow service separately when dealing with a direct sale.
There are some online escrow services available online, like Escrow.com.
7. Transfer the Domain Name:
After the payment confirmation, the transferring process of the domain to its new owner will initiate. However, before initiating the transfer process, make sure that it fulfills all basic process requirements.
1. More than 60 days must have passed since the domain registration or last transfer.
2. It’s not possible to transfer a domain name to a new registrar if you changed the registrant’s name, organization, or email address within the last 60 days.
3. You just need to enter the domain name along with the EEP status code from your current provider and confirm the transfer.
At AtoZServer, it’s easy to transfer a domain from any registrar but it varies depending on how and where it is registered. This process usually takes from 4 to 7 days.