There's always need for a great domain name. So if you have one, you can sell it.
But apart from that, you can sell your domain name and put some cool cash into your pockets, and sometimes plenty of it.
In the world of domain name selling, getting a cut of the pie isn't for the very lucky few. If you have a domain name, you can sell it.
And that's because whether you know it or not, it also has a value too.
This post will talk about what you need to know should you decide you want to sell your domain name for a price. And so you will learn about
What is a domain name
Why you'd want to sell it
What the real value of your domain name
What is a domain name
Finding any website on the internet requires you to know its website address. This website address is what is termed the domain name. It is a string of letters, numbers or a combination of both,
that you type into the search bar of your computer's web browser.
Once you type in the domain name and click go, you will be redirected to the home page of the website you searched for.
The domain name can be compared to the physical address of say your business activity, if you have one, or your home address. It's importance cannot be underestimated
because of the fact that without it,
it would be difficult searching for your favorite websites using for example, the IP address alone, which is a set of numbers that you might forget quite easily.
Here is what a domain name looks like
Domain name: yourwebsite123.com.
In your web browser the URL will look something like this
URL: https://www.yourwebsite123.com
or https://yourwebsite123.com
Having a domain name means you already have a website or blog that is up and running. If you are just starting out
and don't have any of these, then the first thing to do is to choose a domain name for your website or blog and register it. Coming up with a name is something
most people find difficulty doing. And that's because coming up with a befitting name for a site takes a lot of thinking and consideration as it is expected that a domain name must have certain characteristics which are that,
It mustn't be too long
Have you ever found yourself in a situation where you were trying to spell the domain name of a website correctly because it was too long?
Something like yourmumadeamistake dot com type of name? As you can see, your mum made a mistake is quite long and can be
subject to spelling errors when joined together. In most case the spelling error can come from similar letters like mum and made. Joined together it could be
mummade or mumade. This causes some kind of confusion when typing the domain name into the search bar as you are not sure if there is a double letter M or just one letter.
And so for best practice use a short to medium-length name.
It must be easy to type into the search bar without difficulties
Search engines are becoming more and more sophisticated and so typing a search word into the search bar will automatically bring up search name suggestions as you type.
This means you will eventually land a search result with a plethora of different suggestions that may not match the exact name you typed
if the name is for example spelt differently like expresso and espresso. This difference might confuse your audience.
It must be easy to remember
A domain name like the example above, yourmumadeamistake, might be hard to remember for the many searchers trying to find your site. This is
because it is quite long making it a bit difficult to memorize. A good idea would be to shorten it and make it catchy.
It must contain the keyword that relates to your business
Your business or whatever your site/blog is about is key to getting getting targeted audience. The very keyword that embodies the purpose of your site should be in your domain name
and that is because keywords are what people type into the search bar so they can find products or websites.
It must also contain a popular domain name extension like .com
There are so many domain name extensions such that it would be easy to just choose any one extension and go along with it. But if you want your domain name to sell,
using a popular extension is your best bet. And by far the most popular is the .com extension even on a global level.
These are just a few of the characteristics a good domain name is supposed to have. And so if you have difficulty coming up with a good domain name
you could try an online website name generator free that can help you search for a name for your website or blog.
The name you choose is what you will associate with your website or blog. It will represent your online presence.
Why you'd want to sell it
There are so many reasons why you'd want to sell your domain name. it is one of those thing that can happen.
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| image courtesy pixabay.com |
And one of the reason might be that you are no longer using it. In most cases this can happen when you quickly buy a domain name for your website or blog, and then much later come up with a catchy great name that you'd want to use to replace it.
Here are just a few other reasons
You can't develop your site
The idea of building a thriving blog hit you and you decided to purchase a domain name. But then you are immersed in other projects that are taking up much of your time. And so you
don't have the time to focus on developing the site.
You have registered several domain names that you aren't using
Over the years due to projects you dreamed of starting, you registered catchy and interesting domain names which you thought were
simply great and incredible names, probably with the idea to build them into profitable brands. If you still have them you can sell them for cash and make a profit.
You want to move on with a new name
You have a site that has been up and running for some years now. But moving ahead, you want to give it a new identity that is in line with the changing times.
And so you opt for a new domain name to replace the existing one.
You want to go into a complete different business or niche.
Sometimes having had success in one business or niche, you decide to try something new to show that you can have the same and equal success in the new business.
At times you may not have the success you hoped for even though you invested heavily into building your site. You may decide it is not worth continuing but trying something different.
What the real value of your domain name is?
If a domain name has a monetary value, you would be curious to know how much value your domain name has. But how do you know the real value of your domain name?
How do you measure its value and come up with a price tag you'd be happy with? Well it might surprise you to know that there is no precise indicator that tells you this is how you measure the value of a domain name and come up with a price.
While this sound like bad news, the good news is that domain names can sell for hundreds of thousands of dollars, and even more. See the list of some of the
highest prices paid for a domain name.
Selling a domain name is a business transaction between you the seller and a potential buyer. And any serious buyer will want to look at some important key factors when deciding to buy your domain name.
These are features that are considered important. The following five below are considered some of the important ones.
1) The domain name extension
This is the part of the domain name that comes after the dot and is an important factor. If you are familiar with the .com extension then you already know how popular it is as compared to other extensions like .net, .org etc.
Any buyer would be happy with a .com extension more than any other extension.
2) Traffic
A site that generates a lot of traffic is a welcome treat for any buyer wanting to buy a particular domain name. Having a lot of traffic means it can be monetized quite easily by the new owner
who can always count on existing traffic.
3) Length of time
How long has your domain name been in existence? If it has been around for a long time then surely it has been indexed by search engines. And so the number of years plays an important role in
determining the price you'd attach to your domain name. Of course the more years you have had your domain name, the higher its value will be.
4) Shorter names
A lengthy and confusing name for a business concern isn't something any buyer would be happy to spend money on. And on top of that,
the name itself is not quite attractive or is something that will stick in the minds of people quite fast. Shorter names carry more value in terms of selling price
due to their being short and easy to remember.
5) It can become a brand
That domain name you are not using might just be what a potential start-up business is looking for to name its company. if it sounds good and fits the ideas the start-up company has in mind,
then you could strike a deal and cash in on it.
Conclusion
If a domain name has a certain value, check to see if your own domain name has at least the five features listed above. The one thing you don't want is to be told by a potential buyer is that
your xyz domain name is worth less than the price you want to sell it for. If you are unsure how to price your domain name then you can always use the help of an online
Domain name and value appraisal service to get a rough estimate of what it is worth. Domain name appraisal service
gives you a preview of the value of your domain name using certain algorithm calculations.
If you want to make some cool cash selling domain names you no longer use or have not used then you can check their value online. See how much you domain name is worth
using this free online appraisal tool to have a clear idea of how you are going to price your domain name. In the end all it boils down to is trying
making some cool decent cash selling domain names you don't use anymore.
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