⏰TIMESTAMPS⏰ 00:32 – How does a domain name expire? 01:09 – How do I buy an expired domain? 02:13 – How do I buy a domain at auction? 03:44 – How much will a domain cost at auction? 04:13 – Are most people changing domain? 05:07 – Do I have to wait for the domain to expire? 06:06 – What does it mean to “park” a domain? 07:11 – What makes a domain name valuable? 08:04 – How do I start investing in domains? Buying and selling domain names is an exciting adventure that for some seems to conjure up images of finding a hidden pirate treasure or guessing the winning combination in the next Powerball. Stories abound of domains that were bought for $ 8 15 years ago and now sell for millions. Of course, that leads the more adventurous to ask, “How can I do that?” These five tried and true tips for buying and selling domain names for profit can help you become an expert. 1. Narrow your focus Think of some of the spaces that you are most familiar with and begin your search for domain names based on related keywords. It’s much easier to sell a domain that you know would be valuable to someone in a particular industry. Understand your audience and sales will eventually follow. You can keep a domain for 10 years before having to renew it and still sell it at a considerable profit. While you wait for it to sell, you can monetize the domain and add some SEO, which in turn can justify the cost to the buyer. 2. Find Names That Offer Real Value Imagine someone who would benefit from purchasing the domain in a space with which they are very familiar. If it were you and someone was trying to sell you this name, would it be beneficial for you to own it? Be honest. 3. Check domain availability Now that you’ve narrowed down the names you should probably buy, how do you find them? First, check if the names are available to buy as new records. If the names are taken (as many probably will), head to the aftermarket to buy from people who already own the names or who let them expire because they no longer plan to use them. 4. Evaluate the price Once you have a name in mind, how can you tell if the price is fair? For a buyer, if you see a MUST HAVE domain, buy it as fast as you can. That could mean bidding instead of waiting for the auction to end (if that’s a seller’s option). You may be able to avoid a bidding war and still get it for a price that fits your budget. For a seller, stay firm on the price, but also open your auction for bids above a certain price. Also look for companies with a similar domain or companies that want to acquire their domain because it reflects their brand. 5. Put your domains front and center It is important to be sure that you will be paid and that the buyer will get the domain name they paid for. Choose a place that has good ratings with recognized bodies such as the Better Business Bureau or a license from a trusted government source. This will make it easier for the buyer to pull the trigger on the domain purchase and know that they can trust the brand selling the domain. All of these things will help you be a smarter investor and make the most of your time and money. Patience and perseverance are key when buying and selling domain names. Buying and selling domain names is a skill in which you can become proficient. With these five tried and true tips, you’ll soon be on your way to making a profit in the world of domain names. The journey is what everyday entrepreneurs like you must follow in the pursuit of online success. Our experienced GoDaddy guides are here to guide you through all the steps, big and small, that you come across every day. ———- See other videos:
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