We all know what is a domain name. If someone thinking to start an online business, then he/she purchases a domain name and then starts building the website to do online business.
But after a time period, some of them decides to close down their website due to unforeseen circumstances and get stuck with a domain name, unsure of what to do with it. If you are also facing the same situation, you can simply sell your domain name to make a profit before ending up with your online business.
Over the years, domain selling becomes a profitable business. Some people took this domain selling process as one of their hobby’s. But it’s not that easy to do. We always suggest you choose a good domain name before you are planning to start your own online business. But why? Because, at the end of your online business, you may need to sell your domain name and at that moment, if your domain name is really good and high quality, then you can sell your domain name at a high price. Not to mention that there are plenty of things to consider, from determining the value of your domain and places where you can put it up for sale, to actually figuring out how to transfer the domain to the new owner.
But don’t worry, because today we are going to guide you what to know if you want to sell your domain successfully.
How To Sell Your Domain Name
Please read this article about how to choose a domain name for your online business. Then continue reading this article.
- Determine the Value Of Your Domain Name
Before listing your domain name for sale, you will need to do proper pricing of your domain. A lot of domain sellers think that setting overprice will be profitable for them. But no! They are wrong.
- Is your domain a .com, or does it have some other random suffix? A .com domain will carry a higher price.
- Is your domain name short? Or does it contain a lot of words? Shorter domains tend to sell for a lot more.
- Is your domain easy to spell? Or have a common abbreviation? Domain names that include common words or regular abbreviations will fetch a higher price.
- Do you have hyphens or other elements in your domain? Domains that contain fewer words (preferably even one), and don’t include hyphens will sell for much more.
2. Let Everyone Know That You Are Selling Your Domain
The best way to announce that your domain name is up for sale is to attach a “For Sale” sign on your website. Let me tell you how it will help you to get your domain sold faster. Whenever someone lands on your site, they will know that it’s up for sale. Also, make sure that they will have a way to contact you. For example, create a contact form mentioning that you are selling this domain name.
Creating a separate landing page is also a good way to attract buyers to your domain. When searching for a domain name to purchase, potential buyers will often type the name directly into their browser to see if it is available or check what the existing website is about. With NameSilo, you can create a customizable ‘for sale’ landing page for your domain which will provide buyers with all the information they need. You also get to choose the type of template you’d like to use, background and font colors, and how much text you’d like to add to it.
3. Make sure your contact information is public on the WHOIS directory.
Most people don’t want their contact information publicly listed online. However, when you’re ready to sell a domain, this is the time you DO want your contact information available.
Let’s say someone searches for a domain name to purchase, but you already own it. If they can find your contact information in the WHOIS directory, they can contact you directly and offer to buy the domain name from you.
You can update your contact information through your website host or read more about how to update your contact information on WHOIS.
4. Prepare Your Domain Listing.
Once you’ve chosen your marketplace it’s time to optimize your listing. A lot of sellers just upload their URL and call it a day. However, you can maximize your chances of selling your domain by making it more attractive.
For example, does your domain have any existing traffic? Does the domain have considerable age? Does your domain have any existing authority?
By highlighting the current and potential value of the domain you can help to justify the price and make it more attractive to buyers.
5. Use an Escrow Service to Receive Payment.
One way to safeguarding the selling of your domain is to use an escrow service. This will help you avoid being scammed or tricked by a potential buyer.
An escrow service will act as a neutral third-party that will safely hold and process the funds.
Some selling platforms like Sedo have a built-in escrow process for every transaction done through the site. This will take a percentage of the final price, but safeguarding your domain is well worth it.
6. Transfer the Domain.
Finally, it’s time to transfer your domain to the new owner. The process you use will differ depending on how you decided to sell your site.
However, the general process is outlined below:
- The seller will submit the authorization code to start the transfer process.
- The seller will then transfer the funds from escrow once the transfer is completed.
- There might be restrictions on the amount of time the funds must stay in escrow, so double-check this before you initiate the transfer.