The concept of selling domain names might be a bit difficult to wrap your head around with, but it’s really simple once you understand the process.
Here’s a short and easy guide on how to sell domain names for profit.
How Do You Start Selling Domain Names?
A domain name is a web address that’s typed into the URL or http field in a web browser.
An example of a domain name is money.com, makemoney.net or coupons.uk. In the world wide web it’s like a virtual space, or a virtual real estate if you will.Buying a domain name is like owning a piece of virtual real estate on the internet. You stake your claim and will own that ‘piece of land’ and wait until somebody comes along and wants to buy it. Along the way, you pay a nominal ‘maintenance’ fee to keep the ownership.Some domain names are more valuable than others. Think of it as real estate (again), where properties in posh neighborhoods and developed cities are more expensive than those located in the suburbs.
When buying a domain name you’ll want short and easy to remember ones as they tend to be snapped up faster. You can either hold on to it without doing anything else, or take a more difficult route and establish content until the site gains significant traffic (visitors).
Is Domain Flipping a Viable Source of Passive Income?
When doing some research about buying and selling domain names for profit you may have come across people questioning the process and its legality.
There are groups or communities who say that domain flipping shouldn’t be allowed, but there are no legislation or regulation that says otherwise. Therefore, domain flipping is not illegal and you’ll be able to make some money as long as you’re smart and lucky enough that a person or company will want to purchase it.When selling domain names you’ll want to keep an eye on the following:
Your Whois.com information. Update it often and leave several contact numbers and an email address.
Put up a ‘Site for Sale’ sign plainly and on the front page.
Change the ownership in your name.
Don’t put up content that may attract companies.
No trademarked product, brand or services.
Get a domain name broker to finalize the domain sale, and have a domain transfer tool handy.
Domain reselling is certainly a viable source of income as long as you’re willing to do some research and keep up with the trends.
Choosing the domain suffix is the first step to purchasing a domain. The most common suffix or domain extensions are .com, .org, .net, .co.uk, .me and .co.us, among others.Where to Start Selling Domain Names
Domain name owners can play the waiting game or they can go to a domain auction platform.
Should you choose to do the former, you must make sure that your domain is visible and that you have the ability to set a transfer when the price is right.