How to Sell Your DomainArticle Posted by Expert Author: Jesse Schwarz on 05/17/2013
Just as with everything else in life, things change. Sometimes we need to get rid of some clutter in order to make room for new additions. And the same is true for domain names. When a business changes its direction, the time may come to procure a new domain name for the company. But what happens if the old company's name was popular and attracted a lot of visitors and business?
Most often, domain names like this are worth money. And so instead of simply thinking of a new name and walking away from the old one, selling the name becomes an option. And this can either be done by the business owner themselves, or via a domain name broker.
Doing It Yourself
The first thing that will need to be done in the domain selling process is to let people know it's for sale. This will have to be done whether or not you are doing it yourself. There are many free and low cost advertising methods at your disposal for doing this, including social media.
You may find that creating a simple web site for your domain name offer is a good way to begin. All it takes is one page that has been connected to your domain name. And all that needs to be said is something similar to "This domain name is for sale. Please contact email@example.com for more information." If you've recently relocated your business from that web address, you can notify your customers using this page as well.
Even if someone gets in touch with an offer for your name that's a long way below your asking price, it's important to respond. Also important is keeping an open mind about the process; if this is your first time selling your own domain name, then you will benefit greatly by reading the experiences of others. Much information is available to help guide you through any rough patches you may encounter.
Even the best advertisers may have to wait awhile before receiving any enquiries about their domain name. This is true even if you decide to go with a broker to help you sell it.
Hiring a Broker
A domain name broker is simply a company who is in the business of helping domain name owners like you to sell them. But many don’t' know where to start with finding one. The good news is that finding a good broker is just like any other worthy product or service; with a little bit of research.
A good broker should have extensive knowledge and experience in all aspects of selling domain names. This means understanding the ins and outs of domain name valuations, how to find and connect with buyers and how to close the deal.
The broker you choose should have no problem being persistent about selling your name, and should be willing to work together with you as a team. Your goals should be the same: to sell your domain name for the highest possible price with the best possible terms.
Using an Escrow Service
Another available option to selling your domain name is to use an escrow service. This involves storing everything associated with the sale of your domain name into an escrow account which is run by a third, unbiased party. Once the deal has been completed, the third party's job is to release the funds and the domain name to seller and buyer respectively.
But one thing to note is that all escrow services will differ. Some may not transfer funds or ownership until certain conditions have been met. As well, there are many fly-by-night escrow operations who are also doing business. One way to avoid these is to not work with any individual who will only work with one particular service.
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