If you have ever created a company, or a website, you will have had to purchase a domain name. Some people simply rent domain names from websites like GoDaddy, whereas others may purchase them outright for a one-off fee.
Over time, these domain names can often become unused or no longer needed. For example, you may have bought a domain name for a business venture that was unsuccessful. Alternatively, the business or website may have changed names and thus a new domain name was needed.
In instances like this, if you initially purchased the domain outright, you can sell it! This is a great idea and could land you with a lump sum of cash, instead of the domain simply remaining unused. In this guide, we look at how to sell domain names so that you can get rid of your unused URLs.
How to sell domain names
Step 1 – Find the value of your domain name
Before you can do anything, you must have an accurate idea of what your domain name is worth. You must find the relative value so that you can price it accordingly. Price too high and you simply won’t sell your domain name. Alternatively, if you underestimate the value of your domain, you could miss out on extra cash.
First, we advise looking at comparable websites and domain names. This should give you a clear idea of the competitive rate of your domain name is. You could look at competitor websites or websites that use similar keywords.
Next, consider using domain appraisal tools and domain sales history websites. NameBio, for example, has an extensive database that contains sales information on over $1.5 billion worth of domains.
Alternatively, you can use websites like Estibot or the GoValue appraisal tool. The GoDaddy GoValue tool, for example, shows an estimated value but also gives useful information like prices of comparable domains, and other similar domains available to buy.
A more expensive option is to get an appraisal from a domain name broker. These are experts who specialize in the trading of domain names. They should be able to give an accurate assessment of your domain name for a fixed fee.
Regardless of which method you choose, make sure that your estimates are as accurate as possible. This will make sure you sell the domain quickly, but also that you price it realistically.
Step 2 – Price your domain name accordingly
Now that you have researched similar prices, sales histories, and gained an appraisal, you should have a clear idea of what your domain name is worth. You can now price it accordingly. Exactly how you price it depends on the approach you wish to take and how you will list the domain.
Selling for maximum profit
Firstly, you may simply want to sell your domain name for as much as possible. In this instance, time isn’t a factor. You don’t care how long it takes, you simply want the most value for your domain.
In this instance, you could price your domain name higher than the evaluated price. For example, if you found that your domain was realistically worth £1000, you may want to price it at 110% of that price, or £1100.00. It may take longer to sell, but you can benefit from a higher sales value.
Selling as quickly as possible
In contrast, you may want to sell the domain quickly to reduce the hassle. Oftentimes people simply want loose ends like this tied up and sorted. You don’t necessarily care about the value – you just want it gone and transferred to someone else!
In this instance, you could price your domain slightly lower than the evaluated price. In the same example, instead of listing at £1000, you could list for 90% of the value at £900. This should hopefully result in a quicker sale.
Selling as a “Buy now” or “Make Offer” listing
Lastly, consider how you intend to sell the domain. Usually, marketplaces have two options – buy now, or make offer. A buy now price has no room for negotiation – it’s a fixed price. In contrast, someone can offer you less than a “make offer” price. In most instances, using a “buy now” listing will result in more value for your domain.
Step 3 – Create a landing page with a clear for-sale notice
Using a marketplace isn’t the only option for selling a domain name. You also want to advertise that your domain is for sale. The best and simplest way to do this is to create a landing page for your domain name.
When someone is looking to buy a new domain, one of the first things they do is type in the address in their web browser. If they see a generic error message, or a default WordPress message, there is no clear indication that the domain is for sale.
Alternatively, if they type in the address and are presented with a landing page that has a clear “domain for sale” sign, they immediately know they can purchase it!
The landing page doesn’t have to be complex. It should simply contain a clear message that states the domain is for sale. It could also include contact information or even a link to a marketplace listing so the potential buyer knows what to do next.
Step 4 – List your domain name on available marketplaces or auctions
It is now time to actually list your domain name. There are three common methods for listing and selling available – domain marketplaces, domain auctions, and active buyer seeking.
The most common method of selling a domain name is using a dedicated domain marketplace. These are online platforms dedicated to the selling of unused domain names. It can be a lucrative business and there are thousands of domain names for sale.
Some popular platforms include Flippa, Efty, Namecheap Marketplace, and eBay. These websites all have sections solely for the buying and selling of website domain names and have a great reputation. On these sites, you can typically create a listing for your domain that includes domain information, and your requested price.
The other main option is to use a domain auction service. This is essentially the same as a domain marketplace. However, instead of fixed prices, domain names are put up for auction. Users place bids on the domain name and the highest bidder wins.
GoDaddy Auctions is one of the best domain name aftermarket auction sites. There are thousands of domain names available and the website has over 900,000 unique users each month. This is certainly one of the best options if you want a quick sale and to process it through a reputable company.
Actively look for potential buyers
Lastly, you could also spend time searching for potential buyers. This is quite an easy process and could yield excellent results.
For example, let’s say your domain is “www.londonaccountants.co.uk”. You could use Google and local business listings to find potential accounting firms in London that may want to use this domain name. Once you have found suitable businesses you could then create an email template inviting them to purchase your domain.
You could include statistics about the domain, valuation links, and reasons as to why this could be beneficial for them.
Step 5 – Sell the domain and transfer ownership
Once you have a buyer, it is time to sell the domain, transfer ownership, and get your money!
Selling the domain
How you sell the domain depends on the platform used. We advise using a reputable service that includes a complete payment process and payment support. By using such a platform, there is no room for you to be scammed. Also, it ensures a smooth transfer of funds.
If you are selling directly i.e. to a business via email, we would advise using a third-party escrow service or a middleman. An escrow service gives the buyer a place to deposit their funds beforehand as a guarantee before your transfer the domain.
Once the sale is complete, you must transfer ownership of the domain name. This must be done properly as each domain name is registered to an owner. In most instances, you must complete this process using the original supplier of the domain name.
This will include getting an authorization code and in most instances, the person buying the domain must register an account with the domain provider too.
Sell Your Unused Domain Names Today to Make Some Extra Cash
We hope you have found this guide on how to sell domain names useful. As you can see, it is perfectly possible to sell your unused domain names or website. In some instances, depending on the circumstance, they can also sell for much more than you initially paid for them.
Instead of having unused domain names, why not make the effort to sell them instead? Hopefully, someone can make use of them to further their business, and you can get a nice cash lump sum for your effort too.
If this guide to how to sell domain names helped you, please recommend DigitalSupermarket!