Beginner’s guide to selling your unused domain names

Beginner's guide to selling your unused domain names (2)Most people have grown the habit of getting good domain names and eventually fail to use them. This is a bad habit since you will be wasting the domain name yet you can trade the domain name for cash. Sometimes, this process might sound easy for in real sense if you are not a professional domain name seller, then it can be difficult getting a buyer for the domain name.

In our post today, we are going to demonstrate to you how you can sell a domain name you have been wishing to sell; take you through a step by step tutorial on how to find a buyer for the best prices and on how to find a secure payment system and seal the transactions. In case you have any comments, please, let us know in the comments section.

How To Sell a Domain Name?

In order to be able to sell your domain name, you should be able to know how to price it well in order to attract potential buyers. Remember overpricing often leads to underselling. Experienced buyers often know what they are looking for hence you need to understand the importance of having a good domain name and what amount of money you are likely to get from the buyer. Remember also the suffix names of the domain matter in the sense that .com is likely to sell faster and bring in more profits than info names. At the same time, .org and .net in domain names are the best names or make a good profit.

It is also quite hard to sell names people are not familiar with. Short names have the highest value and easily sell bringing in substantial profits but they are rare. Basic and common domain names which are relevant also strike a lot of interest amongst buyers. Names that are easy to spell are also likely to attract more customers hence more profits.

Sellers should also be able to identify premium domain names. Good examples of premium domain names include dictionary names. A domain name with a dictionary singular name does well in the web and most buyers are willing to pay more to purchase them. Names such as askme.com or search.com are likely to attract more buyers than long domain names.
Unhyphenated domain names also have more value and so are product related domain names. The moment the seller has some degree of knowledge about the domain, he can start searching for buyers.

Where to find the buyers?

Once you decide to sell a domain name, it is important you look for the best market to sell it. Look for your potential customer secretly and if you know any buyer who deals with domain names, contact him or her without going through the middleman as the seller will eventually make more profits without the presence of a middleman.

You can also resort to sell your domain name on an auction site. Some of the good auction sites include Ebay.com and Afternic.com. As for individuals with premium domain names, they can become members of GreatDomains.com and list their domain names there. This site has a good reputation as a domain name market. Sites such as Sedo.com have their own selling program and this same site celebrates having the largest marketplace in the world with a long list of the most expensive domain names in the market.
Moreover, it also has a safe and secure service for domain name buyers and sellers.

Engaging and negotiating with the buyer

The moment you are done with finding a market place for your domain name, the second thing to do is trying to capture your potential customer’s attention. Remember, buyers will only go for sellers who have a professional approach towards their merchandise.

Therefore, sellers need to have a good knowledge of the domain name they are selling. They should be aware of the kind of traffic the domain name attracts, the expiry date, whether the domain name attracts any money and how much. This will be a good evidence of the value of the domain name in the market.

There are buyers who are difficult to convince and most a times they will even quote a lower price. Do not freak out and try to explain to them why you are selling it at your current price.
However, if they become adamant and refuse to change their price, then move on to the next customer. Once you have found a ready buyer, the next step will finding the best payment method for the transaction.

Secure Domain Escrow Service and Its Benefits

Selling a domain name can be tricky hence the best way to go by it is by taking up the help of a secure domain transfer and escrow services. This system is highly beneficial in the sense that the buyer has to first deposit money at the trusted source prior to purchase then the deal between the buyer and the seller takes place through a secure domain transfer escrow service. This makes the transaction safer for both parties with a third party to witness it as the neutral party.

Domain name sellers are often advised to use Sedo.com to list their domain name. The advantage of this is the mandatory escrow service which accompanies every transaction. This site often charges the seller a commission of 15% for every transaction or a USD 50. Whichever is higher for the domain name appearing on the site. However, the sellers who are not willing to list with Sedo.com but would also like to use their escrow service are expected to pay the minimum value of USD50 or 3% of the transaction, whichever is higher.

Take note that escrow services are very good and effective but for domain names that are priced highly. For those priced low, using this service can lead to losses.

Close transaction and get payment

After you have sold the domain name, you will be required to transfer the domain name. Different sites have different means of transferring the name. Domain selling sites require the sellers to submit the authorization code which is going to initiate the transfer process. Once this transfer is completed, the seller can now transfer the funds from the escrow account to his personal account. Ensure you check the minimum number of days the funds can stay in the escrow account before the transaction is completed.

The moment the funds are due for release from the escrow account, you can now transfer the money through wire transfer or even through PayPal to your own personal account. Ensure you counter-check PayPal’s country regulations before you use it since in some countries, it is disadvantage.

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