Domain buying and selling is one of the growing markets in the World Wide Web. In the physical world, domain names are congruent to real estate properties. They serve as territories of the virtual universe. People who trade domains sell names which they acquire at a cheaper value and at the same time buy names which they think will increase value in the future. The difference that they will make from the process of buying and selling serves as their profits. People who want to make a living out of domain trading should be warned that the industry is still young and unpredictable. Before joining in the bandwagon, make sure of these 3 things to consider when buying and selling domain names.
- Domain trading is half-work and half-luck
Understanding the nature of domain names requires extensive research and training, and people who want to make this a career should prepare themselves to a very young and dynamic market. They should be equipped with skills in exploring the growing market, speculating on the future demands of web creators, and choosing locations through which they can sell the names.
The valuation of domain names is very unpredictable, and this can either be a good or bad thing. Sometimes you’ll think you’ve gotten a very generic and sellable domain name only to find out that no one is interested to buy it. Sometimes a multinational company will come up with a product whose name is exactly similar to one of your random domains and consequently express intention to purchase it in exchange of a five-figure sum.
- Domain trading is a profession
Whether you’re buying and selling names full time or part time, always remember that the activity is an emerging online profession and therefore demands credibility and professionalism. You will attract numerous buyers if you assume the position of an expert who knows the market very well. Like a real estate professional, you should have a portfolio of the domains you’re selling together with their individual profiles. Nothing will convince a buyer more than the impression that you know all the details about your domains by heart-their traffic statistics, their content histories, their pricing profiles, and so on.
To become a successful trader, you should immerse yourself with the secrets of the market by knowing industry experts, insiders, buyer marketplaces, online companies, and trading associations. As mentioned, the market is young and the community is still quite small so you should take advantage of the chance of knowing the key players of trade and learning how to be one of them.
- Domain trading is all about closing a sale
In the end, what matters most is that you have sold your domains at a much higher price and bought cheap ones to be sold again for profits. To establish a continuously growing customer base, you should make sure that all your transactions are done fairly, smoothly, securely, safely, and most of all absent of hassles. Choose the best escrow and domain names transfer service providers available to ensure that you receive and make payments efficiently and bestow and accept certificates of ownership quickly.