Buying and Selling Domain Names is big business, with over 3 billion people using the internet there are opportunities for people to create content, meaning there is an opportunity for you to make money by buying domain names they may want, so we will be going through how to buy and sell domain names. It is a very competitive market and you need to know all there is to know to be successful and make it into an online business.
What is a Domain Name?
So, what is a domain name??? Well some will get confused and think it is a website, but that isn’t the case. A domain name allows you to have a website on it, you can’t have a website with a domain. For example, the house you live in is on land. The land is the domain; the house is the website. if you took the house away, the land would still be there and could still be sold. There wouldn’t be a house without the land.
Therefore, if someone wants to build a website with a specific web address, and that domain name is already owned by someone else (you) they would need to purchase it off you to build the website they want.
Domain names come in a variety of types, .com, .org, .net, .info. There used to only be a select few but now there are a multitude available depending on the type of website it is.
What do you need to know, and be Successful?
There is a risk attached to this type of investment, as they are no guarantees it will become a successful revenue source, as it does depend on whether there is a demand for the domain names you buy.
Ok so, there are some legalities with domain names, you cannot use someone’s name as a domain name, for an example you couldn’t take the name of an author and create a domain and hope to sell it to them, the same with company names or trademarks.
To be a sound investment, you need it to be 3 things:
- Keyword/SEO Optimisable (learn more here)
When someone starts an online business, and wants a website they will want it to be those 3 things, someone who visits their site and likes it, the name will be memorable for them to comeback to.
Relevant to the niche/content they are targeting.
But the last one is key, they want their website to be able to get to the top of the search engines, otherwise it will never be found.
You need to consider these before going and buying a job lot of domain names hoping they will sell, without doing some keyword research on the domain names (check out my Jaaxy Review for more details).
There are 2 ways you could take with buying and selling domain names
- Buy a domain name, build a website. get it established and then sell it. Find out how here
- Buy domain names and then just sell them.
Both are a viable way of making money from them. The first one will mean it will be worth more, if it is memorable, relevant and optimised for search engines.
Domain names can take time to sell as well, so don’t be downhearted if they do not sell straight away.
Most traders in domain names buy them by the hundred, but this will depend on your budget, you can succeed by buying just a few. My advice would be do some research and make sure they are relevant to the target you are going for.
Where can I go to Buy, and Sell them?
There are several domain registrars online, as an example GoDaddy offer an auction site for domain names, where you can register and buy and sell them. But there are also:
- CP web hosting
There are hundreds, so my advice would be, doing some research into them prior to signing up with one, I will be reviewing them in the next few reviews and updating this post.
Remember the 3 key things about domain names, it needs to be memorable, highly relevant and is SEO optimisable to stand a chance of someone wanting to buy it.
Have you Thought of an Alternative?
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If you have any questions, then please leave a comment. I would be more than happy to help.