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Making money from domain names

Posted By: Martin21 Taylor20 | Posted On: 2007-10-13 | Article ID: 30660

How to Buy and Sell Domain Names like a Pro.

Ever considered speculating on Domain Names? Or maybe you’ve failed to turn a profit from a Name you had high hopes for? Well don’t beat yourself up, just stay with me because I’d like to share a few thoughts that I know will interest you.

You’re already aware that obscene amounts of money are made from Domain Names. You know that every month names once purchased for as little as $12, are changing hands for amounts ranging from $25 (100% Profit!) up to 5 figures sums, and frequently six or even seven figure fortunes. And I’m not referring to sales of websites, just Domain Names on their own. (Not only dot com’s, but also .net’s, .org’s, .info’s, even .biz names, plus many national extensions like .us, .de etc.)

Now, lets digress, does the following sound like any one you Know?

He dedicates an hour to thinking up a domain name that’s bound to appeal. Armed with credit card, he eagerly Googles up a Registration Service.

Discovering the domain name is already registered, he quickly comes up with several less appealing variations, at last finding one that’s available to register. Cost $15. Job done, he sits back to contemplate a massive profit expected imminently.

Days drift by, then weeks, then months. No one materialises with an offer. Not to be deterred, he gets pro-active and offers the domain on eBay for $999.95 (Worried that his asking price maybe too low). One week - plus one $6 bid - later, scratches head, rubs chin and wonder’s, what next?

Staying positive, he reads a few domain articles, but is now developing a sneaky suspicion that either this Domain Name business aint all it’s cracked up to be, or some vital knowledge is missing. Decides to put Domain Speculation on hold, and turns his attention to other matters.

OK. Maybe our apprentice speculator was a little more scientific about things, but you get the message.

I’ve owned close to 1000 Domain Names and, to be honest, I too got it badly wrong. No - lets be honest - horribly wrong! In fact, it’s cost me an horrendous amount of cash. Only recently have I begun to see where I went wrong.

I now realize that the whole process is one demanding a professional strategy, e.g:

• Decide whether to acquire for income, short term re-sale, or income plus capital appreciation.
• Buy Domain Names with just a few, carefully selected, niche’s in mind.
• Use key-word searches to generate Name ideas that truly reflect what those in your chosen niche/s are seeking.
• Choose whether to search for unregistered names (hugely time consuming when it comes to finding quality names, most of which have been registered) or look to buy in the secondary marketplace, where you’ll pay more, but maybe stand a better chance of acquiring a valuable asset.
• Locate the right Registration Service. (Low Registration Fees, plus availability of additional services you may want to utilise)
• Know what you’ll do with your Domain Name once you’ve acquired it, e.g:

? Hold on to it
? Park it.
? Lease it (A much overlooked option).
? Create a website to promote it, and simultaneously generate some revenue.
? Offer it immediately to prospective buyer’s active in the niche you’ve chosen.
? Offer it on a Secondary Market Site (like Sedo)
? ‘Talk up’ the name on Domain Forums to try and generate interest.
? Offer it to a Domain Name Portfolio Owner. (i.e. a corporate entity that control thousands of Names).
? Offer it on a specialist or general Auction Site.

And that’s just the beginning. You could target recently expired domains to exploit the traffic they still get. Or use services that specialise in catching ‘dropping names’, i.e. where owners no longer want to renew registration (or have forgotten their domains are due to expire).

The good news is that, when it comes to domain names, there are many avenues to explore and exploit.

There are great publications that tell you exactly what to do. There’s excellent, modestly priced, easy to use software to make the whole process faster, easier and, potentially, more profitable. TIP: Even if you decide you don’t need these tools, at least check out the sales spiel, which often lets slip some top tactics used by the Pro’s, and reveals a few excellent tips at the same time.

Don’t give up on making money from domain names, just start thinking smarter, and get the results you deserve.

 

Article Source: http://www.articlecell.com

About The Author
Martin21 Taylor20

Martin Taylor is the author of this article on Domain Name Resources. Find more information about Domain Name Tool Kithere.



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