You may have come across the term “domain flipping” before, but what does it involve? Domain flipping is the process of buying a domain name for a low price and then selling it for a higher price. It’s a bit like property investing, except with digital real estate!
If you’re thinking of trying your hand at domain flipping, read on for these 5 simple and essential tips on how to sell a domain name for profit.
1 – Find Out your Domain’s Value
Before you can sell a domain name, you need to know how much it’s worth. There are a few things to do:
Length:
Consider the length of the domain and its extension. Generally, shorter domains and domains with popular extensions are more valuable than more extended domains with less popular extensions.
Use a Domain Valuation Tool:
For this purpose, you can use tools like Estibot and GoDaddy Domain Name Value Calculator. Just enter your domain name into the tool and it will give you an estimated value.
Look at comparable sales:
If you know of any other domains that have sold for a similar price, this can give you an idea of what your domain might be worth. You can search for comparable sales on websites like Flippa and Sedo.
Get professional appraisals:
You can get professional appraisals from companies like Sedo or Afternic. They will usually charge a fee for this service, but it’s worth it if you’re looking to get the best possible price for your domain.
2 – Fix a Price for your Domain
You’ve decided you want to sell a domain name. Congratulations! But before you start counting your cash, you need to set a price for your domain.
Here are a few tips to help you set the perfect price for your domain name
The length of the domain, the number of characters, the extension (e.g., .com, .net, etc.), and the overall desirability of the domain all play a role in setting a price.
Consider the potential buyer. When setting a price for your domain, it’s important to consider who the potential buyer might be. What does the domain name mean to them?
If you’re selling a domain that’s related to a particular industry, chances are the buyers will be companies in that industry who are willing to pay top dollar for a relevant domain name.
3 – Best Domain Listing and Auctions Sites
To sell a domain name, you can choose different options, listing your domain on a listing site or auction site or contacting potential buyers directly.
Auctioning off your domain name can be a great way to get the highest possible price for it. You’ll need to create an account on each of these sites and then list your domain name for auction.
For auction you can use:
The most popular listing sites are:
if you’re looking to list your domain for sale quickly and easily choose Afternic. Sedo is a good choice if you want to get the best possible price for your domain.
You can also contact potential buyers directly. You can find potential buyers by searching for companies that might be interested in your domain, or by advertising your domain on social media or forums.
4 – Protect Your Payment Through an Escrow Service
When you are ready to sell a domain name, it is important to protect your payment through an escrow service.
An escrow service is a third party that holds onto the money from the sale until both the buyer and seller have fulfilled their commitments. This protects both parties if something goes wrong.
The first step is to set up an account with Escrow.com. After this, you will be able to provide the buyer with your account information so that they can make the payment into your account.
After payment has been made, Escrow.com will hold the money until buyers confirm that they have received the domain name from you. Escrow.com will release the money to your account upon confirming that buyers have received the domain name.
5 – Transfer Domain to New Owner
Once you’ve found a buyer for your domain, it’s time to transfer the ownership. This process is usually pretty simple and only takes a few steps.
First, you’ll need to unlock your domain. This can usually be done from your registrar’s website. Once your domain is unlocked, you’ll need to get the transfer authorization code from your registrar. This code is sometimes called an EPP code or transfer key.
Next, you’ll need to contact the buyer and give them the transfer authorization code. The buyer will then initiate the transfer with their registrar. After the completion of the transfer process, the domain will be registered in the buyer’s name. That’s all there is to it!
After you’ve transferred the domain. It’s always a good idea to follow up with the buyer and make sure they’re happy with the purchase. This helps to build goodwill and could lead to repeat business in the future.
FAQs
How Much Money Can You Make from Selling Domain Name?
Selling domain names can be a profitable effort, but how much money you can make depends on many factors.
The most important factor is the value of the domain name itself. A domain name that is in high demand and has a lot of traffic will be worth more than a generic or less popular domain name.
The second thing that takes an effect, is the price you paid for the domain name. If you purchased the domain name for a low price, you will have more room to negotiate when selling it.
The length of the sale process and the payment method you use will also affect your profit.
How do I Transfer my Domain?
1. Choose a registrar
2. Check the WHOIS of the domain name to get the current owner’s contact information
3. Email the owner and make an offer
4. If the owner accepts your offer, they will send you a bill of sale
5. Pay the owner for the domain name
6. Update the registrar information to reflect the new ownership
How much does it cost me to transfer a Domain Name?
The cost of transferring a domain name can vary depending on the registrar you use and the TLD of the domain name. On average, it costs around $10-$15 to transfer a .com domain name and slightly more for other TLDs.