HOW TO BE SUCCESSFUL BUYING AND SELLING DOMAINS

There are many, many ways to make money online. One of the oldest -- and in some ways the most successful -- strategies is to buy and sell domain names. Domain names are like virtual real estate. Some are premium property on the Internet, and if you snap them up at just the right time and for just the right price, you can turn around and sell them for a hefty profit. Consider how much money you could have made if you had purchased the original Beer.com.

Making money buying and selling domains requires a lot of skill and a whole lot of luck. Here are a few tips for how you be successful buying and selling domain names:

Choose the Right Domain Name

Obviously, the most important key to your success in flipping domain names is to find the right domain to buy. There are a number of ways you can find a hot domain. Stay current on hot trends and register related URLs. Perform keyword research to find what niches are getting the most traffic, and purchase domains that are related to those niches. Follow market trends to learn what products and brands are hot, and purchase site names that are related to them.

Getting the right domain name requires a lot of research and even more luck. Sometimes, you just never know when your domain will become the next big thing. Consider the man named Kerry Edwards who had kerryedwards.com registered long before that political team campaigned for the presidency.

Create Some Content

Just like you need to stage a house, you need to set up a little content on your domain to show off what it can be. You don't have to set up a full-fledged website with pages and pages of content. A simple landing page that serves as a template for the site will suffice.

Make sure that your page looks as professional as a fully developed site. Your links don't have to go anywhere, but your design should look sharp, and your home page content should include a compelling argument for the potential for the domain.

Promote It on Your Network

E-mail marketing is one of the best ways to generate sales because you are marketing to qualified leads. You should work on developing a strong e-mail list that you can use to promote your domain sales and other products. When you are ready to sell a new domain, you can instantly connect with hundreds or thousands of leads who have already expressed an interest in your product, helping you to increase your sales.

List It on Reputable Auction Sites

There are many websites that exist solely to sell other websites. Flippa.com is one of the most well-known, but there are several others. Create a compelling listing for your domain on one of these sites, and use all the tools available to verify the site and to inspire confidence in buyers. Take advantage of listing options, as well, such as having your site featured, as these will help to improve visibility and increase sales.

Buying and selling domains is a great way to make money online, but you have to do your research and develop a strategy to help ensure your odds of success. As with real estate, buying and selling Internet real estate also requires a bit of luck and skill.

About the Author: Bridget Sandorford is a freelance food and culinary writer, where recently she’s been researching Miami culinary arts school. 

In her spare time, she enjoys biking, painting and working on her first cookbook.