General

Tips to Sell Your Domain Names Successfully – Part 1

Posted on by Ned
19
Jan

So you’ve purchased what you think is a cracker domain name, and now you want to sell it for big bucks.

Or you’ve had a domain name allied to your business – or a proposed future side hustle. But now, for whatever reason, you’ve changed plans.

There are several other scenarios, but in my experience, the above two cover most reasons for wanting to sell.

Listing on a domain name marketplace (even Profit) doesn’t guarantee a quick sale.

So we thought we’d put together some tips on how best to help yourself. This is based on our over 20 years of experience in the Aussie domain name market.

Five key steps in selling your domain names:

  1. Pricing your domain name right
  2. Marketing and Outreach
  3. Negotiation
  4. Payment
  5. Transfer to the buyer

Part 1 – Pricing it right

This initial step is probably the most important one of all.

You have to do some research to get a detailed understanding of past and present market conditions. e.g. sales evidence of similar domains.

If you price it too low, you’ve potentially left money on the table. Conversely, you will probably be ignored or laughed at if the asking price is ridiculously high!

My best advice is “don’t fall in love with your own domain”!

Here are some of the key insights to guide you:

  • Understand the market: Like any piece of real estate, location matters – even in the digital world. Consider the latest trends; catchy, short, and simple domains often attract higher bids. Look at similar domain sales to get a feel for the going rate. You can check out some sales evidence here on Profit.com.au.
  • Appraise your domain: Determine your domain’s worth. Multiple online services can help you gauge the market price of your domain based on factors like length and keywords. However, most of these are overseas companies that don’t have a feel for Aussie domains.
  • Be realistic: While it’s essential to make a profit, overpricing might deter potential buyers. Remember, your domain’s worth is ultimately what someone is willing to pay for it.
  • Pricing strategy: If you’re flexible, consider setting a range or a ‘make an offer’ approach. It can create an open negotiation environment encouraging potential buyers to reach out.
  • Consider your domain’s potential: Recognise the growth prospect of your domain name. A domain related to emerging technologies or trending sectors may have more potential, justifying a higher price tag.

Want to comment?

If you wish to comment or ask any questions, you can do so here on LinkedIn.

Coming up next week – Part 2 – Marketing and Outreach

If you’re not already a subscriber, please click the button below. This way you don’t miss any articles!

You can opt-out at any time.

 

GET UPDATES ON NEW ARTICLES!