Buying and selling domain names is probably the best online business available on the internet today. It involves minimal capital investment and it's almost risk-free. Here are some guaranteed simple steps to thrive in this profitable business:
1. Do your research first before registering any domain names. Junk domain names are useless in this business. So, research for domain names that are:
a) Easy to remember
b) Niche market specific
c) Generic or popular English words
d) Free from infringement
e) Short words
f) Keyword phrase rich
2. Market registered domains. Hundreds and thousands of domain names are registered daily. Therefore, to be able to sell, one should aggressively market their product in major websites with auction, featured or prime listing. Create buying desire and awareness in the thoughts of your prospects.
3. Evaluate your domain name properly. You need to check and compare the price expected from your domain name by comparing it with similar names already sold in order to avoid being short change or lose an opportunity to sell for more. Or, you can invest in appraisal and get your domain name appraised by a professional. An advantage of this is that it gives you an idea of how much should you be willing to sell your domain name for.
4. Develop it. You can also increase the market value of your domain name by developing and increasing its traffic over time and developing a website on it. This way, you can sell it for a much higher price than selling it outright.
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