For first-timers, it’s super difficult to sell a domain that you have owned for a long time. If you are also a first-timer, you don’t need to worry at all, as you have found the right spot for a guide.
First, we share a complete guide to buying a perfect domain for your website, and now it’s time to sell your domain.
So, let’s get straight into it:
Things to Consider Before Selling Your Domain Name
Before going towards the step-by-step procedure of selling your domain name, there are two main things you need to spend some time on:
The Value of Your Domain
Things you need to determine to know the value of your domain are:
- Traffic on your domain
- Value of keywords (whether they are SEO-friendly or not)
- Type of TLD (as every TLD has a different value)
- Length (shorter domains can even get millions of dollars, for example, floor.com was sold for 3.1 million dollars)
Understand your Goal
Your goals for selling your domain name must be realistic. You need to know that you will not just seal the deal on the first day of millions of dollars.
Where to Sell Your Domain Name?
Selling the domain yourself is almost impossible, so it’s always better to go for a third party that will take its commission but will eventually save you time and money.
So, here are our top picks:
1. Sedo
It’s a brilliant option for those who want a reliable marketplace but also does not want to pay extensive commissions. Sedo doesn’t charge anything for listing and charges 10% to 20% commission which is quite commendable.
2. GoDaddy
GoDaddy has a company named ‘Afternic’ that’ll help you sell your domain name in next to no time but will charge a 20% commission. Moreover, listing your domain here is completely free.
3. Flippa
Use Flippa if you are going to sell domain names every now and then because it will charge for listing according to packages (up to $500). The commission will only be on successful purchases, which will just be $5. Almost no one goes for it for just one domain name.
Step of selling your domain name
1. Park It
Before selling it, you need to park the domain somewhere that’s safe. Because of the time in which you are looking for a buyer of your domain name, it’s not under any registrar’s safety.
You might get attacked by a hacker or cybercriminal who can easily take your domain. So, park it somewhere by paying a few bucks.
2. Assess Similar Domains
After parking, you need to assess domain names that have similar things to yours. You already know the value of your domain, so this part is not that difficult.
The search for domains with similar names as yours. For example, if your domain is ‘something.com,’ you can try improvising by adding any alphabet or number in it to search for similar domains.
You can try these sites to know the value of different domains:
3. Choose the Right Pricing Strategy
You can either go for:
- Fixed price
- Flexible price
If you are confident about your domain’s value and don’t want to compromise on its cost, go for the fixed price option. Otherwise, the flexible pricing option is still there.
4. Pick where to Sell the Domain
You have three options in this case:
- Selling domain yourself
- Going for a marketplace
- Opting for an auction site
- Sell via domain broker
Going for an auction site is the best option here, and you can try the three sites we mentioned earlier.
5. List the Domain Perfectly
Listing matters a lot!
If you have listed your domain perfectly with the best optimization, you will sell the domain name at a better price.
Here’s what you need to do:
- Showcase its major benefits: Note down the main points of your domain name that why it is better than other domains. After that, only advertise those features of it. They can be either its monthly revenue, monthly traffic, or anything good.
- Use WHOIS: It’s probably the best thing you will do to optimize your domain listing. WHOIS makes things super easy for you and your client as well. Moreover, it’s a trusted brand, so it will make a difference surely.
- Create an Ad: It might seem that this thing will waste money, but it will not. Because listing costs you money, and if you advertise your domain listing, it will eventually save time and money.
- Use Social Media: If creating ad seem expensive to you, you can try social media platforms like Facebook. Join different domain-related groups and pages and advertise your domain listing there.
6. Protect Your Domain With Escrow
Escrow.com is super trusted and reliable!
Always make payment with it. It’s the safest payment method which means that you never need to worry about scams and stuff with it.
Moreover, auction sites like Sedo or Afternic offer free service Escrow; otherwise, it charges some dollars.
7. Seal the Deal
Transferring a domain will be super if you opt for a reliable brand or site. For that, you can check out its reviews on trusted sites like Trusted Pilot.
Don’t panic if the process is taking time, as it usually takes 7 to 10 days, depending on the third party!
Conclusion
The final verdict is that you are now completely ready to sell your domain name as we didn’t just tell you about the procedure to sell a domain name but also many different important things you must know.
The Ultimate Domain Name Suggestions Tools
Yes, you can!
But as in this case, you don’t just have to sell one domain name, so you have to have much more information to create a proper business model.
Yes, you can!
But no one is going to believe you unless you are a reputable business and connected with ICANN. If you know someone and sell the domain to him in person, it’s the easiest thing to do. Otherwise, in a world with tons of reliable domain registrars, strangers will never trust you.