Who knew buying domain names can be a lucrative business? MANY.
More and more people are beginning to stumble upon the fact that snapping up domain names and selling them is a great way to earn more money – kind of like real estate.
There’s a growing opportunity to purchase sought-after domain names and then proceed to domain name registration to reserve them for yourself.
How buying and selling domains work
You purchase domain names at the cheapest prices you can find and then afterwards sell them again with new pricing. Make sure that you’re buying brand new domains from a reputable domain registrar. Domains are cheap and you can buy brand new ones for $10-$15 for one year from a domain registrar.
Many of these domains may already have a lot of traffic and quality backlinks. Buying these domains at a reasonable price, therefore, gives you the chance to earn lots of money when you sell them.
How domains are bought
You can purchase domain names from a reputable domain registrar at sites like Crazy Domains, GoDaddy, Namecheap, etc. Simply search a domain name in the search box and if available, you can purchase it for a few dollars per year.
If you see a domain name snapped by someone else, you can try to contact the owner and see if they want to sell it. Many domain names expire in a year at the least if owners overlook or forget to renew them or if they’re no longer used.
You can then purchase these domain names when they become available to buy. To sum, you can’t buy any domain name that’s trademarked by a company. It will only end badly for you in the future if you steal a company or person’s name and buy that domain.
How domain names are sold
It’s possible to add in the landing pages of your domains that they’re for sale. The interested buyers can then contact you to negotiate. The most common way to get your domains seen by potential buyers is to list them on sites that specialize in domains such as Crazy Domains. Create a fixed price for domains that you want to sell or invite bids from buyers and sell it to the highest bidder.
The possibility of making a living out of domain selling
Some people make a living through this. Companies and people prefer generic names, so if you can find and purchase some generic domain names at a few dollars for each, it will be possible to sell them for a few hundred or even thousands.
While all this sounds great, it is still a good idea to begin with just a few handy domains. If you believe that your chosen name will be popular someday, it may be wise to buy them. With that said, it is crucial to know what types of domains you should buy and your available finances for investment before you proceed with domain name registration. Always set realistic pricing for the domains you want to sell.