How to Make Money as a Domain Broker
Presently, premium domain names are like hot cake in the domain marketplaces. So many domain buyers are willing to pay hundreds to thousands of dollars for premium domain names or short names. Due to this, investing in a domain has become a full-time job for some people. On the other hand, selling of domain names has become a part-time job for most people who see it as a way to make extra money. However, before entering into the domain business endeavor to know what makes up a good domain name. To make money as a new domain broker, you should firstly have domain names you want to sell. To do that, you can simply register your domain name with GoDaddy, Namecheap or any other domain registrar you desire. Note that you cannot just register any domain name that comes to your mind. Although most premium domain names are taken, you can still register some good domain names. One thing to bear in mind is the fact that your domain name should have its meaning. It is always good to register domain names that are affiliated with a certain industry. For instance www.properties.com, www.designs.com. Another factor to note is that your domain names should be as short as possible. Most domain buyers prefer short domain names when compared to the longer counterpart.
Once you have registered your domain name and you are ready to start selling your domain name, the next for you to do is to know how much you want to charge for the sale of the domain name. Remember that you are not the only one selling a domain name. There are other domain name sellers out there, so you have to compete against them in most cases. It is advisable that when setting a price for your domain name, set a price that is reasonable. Do not set an absurd price that does not fit with the domain you are selling. You can start by putting a low price. If you get many bidders, then you can gradually increase the price.
After knowing how much you are willing to charge for your domain name, the next thing is to get people who will be interested in buying your domain name. This is where the work sets in. If, you do not have private domain investors to sell to, you could use several domain marketplaces. This will help you get your domain name to the world. When choosing a domain marketplace, it is important to look for the one that favors you the most. Almost all domain marketplace charge a certain commission on the sale of every domain made. These marketplaces have commissions that could be sometimes frustrating as the commissions are mostly on the high side. However, it is important to read about each marketplace, their reviews, how much commission they collect on every sale and their payment method. Furthermore, is there any listing or auction fee attached? You should put into consideration these important factors. Having stated that there are some top domain marketplaces and some of them are:
Flippa: Flippa is a reputable online domain marketplace that allows registered users buy and sell their domain names, websites, and mobile apps. They just added an Amazon FBA feature for those who are interested, Flippa has a flexible cash out method for sellers and it also has a good payment method for buyers. Due to its popularity, more people are beginning to list their domains, website, and apps on Flippa hence for you to be seen by potential domain buyers, you may have to pay for the auction package of your choice. Overall, Flippa is a good marketplace that you can trust
Godaddy Auctions: Godaddy auction is also popular among domain buyers and sellers. It has a high traffic visiting the site to either list domains or bid on domains. Unlike Flippa, GoDaddy requires its users to purchase a yearly membership fee that allows them list or bid on domain names for free. It also offers a premium and featured listing to interested sellers.
Sedo; Sedo is another big name in the industry of domain marketplaces. Sedo has over two million members with over six million domain names listed.
When you finally decide on which marketplace to use, the next step is to register with such marketplace and list your domain. It is advisable to use more than one marketplace so that your domain can have maximum exposure to potential buyers. When you gave successfully listed your domain name, make sure that you respond to any inquiry on time.
Finally, with all these all you have to do is sit and wait for the bids to come in. When they do, you can choose the bid that best suits you.