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tips The “Rule of 3” for Buying Domains as a Beginner

Spaceship Spaceship
When I started domaining about a year ago, I was sure that I would hit the jackpot! It's easy to get caught up in that dream when first entering the domain name business. I have sold a few domains since then, but more importantly, I have learned quite a few lessons about the business, many of which I learned the hard way. So, to help other domainers, I am sharing the methodology that I use to evaluate and buy domains!

The Rule of 3

1. Ask at least 3 people how each name sounds

When researching domains, it’s very easy to get caught up in your own thoughts. When you see a domain that you think could be great, you may overlook that others might not think it is as attractive. Whether you buy a domain for your own website or for resale, the response of others to the name will play an important role in its success. I like to test others’ responses to any name that I’m considering by asking three people what they think of it. I make sure that the three folks aren't domainers themselves and that they have a fair sense of brand names and business in general. If the name sounds good to others, then I think that indicates it has a better chance of success!


2. Research each name at least 3 different times

So you’ve asked a few people about your name and they thought it was at least decent. Now it’s time to do some research so that you can make an educated guess about the name’s value. I don’t recommend appraisal tools such as EstiBot.com to determine a domain’s value. I think it’s better to give your preferred search engine some exercise by doing your own research. Here are some of the things that I look at:
  • The name’s search volume
  • The existing projects and businesses using that name
  • That I will not violate any rules by registering the name
  • That I’m not cybersquatting
  • Whether there are existing SEO-friendly websites or businesses with similar names
  • Check past domain sales to see if any similar domain names have ever been valuable.
I like to research each name at least three separate times because some of the above variables may change over time, based on your location, or even with a new login to a search engine that tailors the results. Looking into the potential market before buying a domain can help you make more targeted and wise purchases.


3. Follow a 3-step domain checkout process

Ultimately, you are going to have to find out how much the domain costs and decide whether it is worth the price. There’s no surefire way to know whether it will be a good investment in advance. The decision to buy the domain name will largely come down to your intuition, and that can be improved over time as you learn more about what sells and fine-tune your intuition.

Here’s my three-step domain checkout process:
  1. Go to a registrar that has options for performing a bulk domain search. Don’t enter in your target domain name yet. Instead, enter a few similar names, especially ones that you think are valuable and might already be taken. While you're looking at these good domain names, listen to your intuition to tell you how your target name matches up with the domains that you've entered into the search box.
  2. Now, search for the domain name that you want. At this point, one of two things will happen. Either the domain name is taken or it is available. If it's unavailable, give yourself a pat on the back. You thought of a name that someone was willing to purchase for at least the registration fee. If the name is available, it’s time to find out how much it costs.
  3. Proceed to the checkout page. You’ll see the price to purchase the domain and the renewal price. This final step is your chance to consider the value that you expect to gain from this domain name against its purchase price, factoring in that you might need to renew it for a few years before it sells. Ask yourself: Is this an unnecessary purchase? Can I buy a better domain with this money? If your gut still tells you that it’s not the right purchase, listen to that feeling and move on. If the name feels right, you may want to go for it. You’ve done your research, and now’s your chance to find out if you were right about this name by registering it and seeing what you can make of it!

Bonus tip: By being in the domain name community and watching the trends closely, I can say that NamePros is by far the best place for a reality check! Read some beginner blogs with an open mind. They provide perspective. While all of the domain parking, auction, and sales websites are good places to buy and sell domains, at the end of the day they are businesses seeking profit. Looking at those sites exclusively can delude you into a false sense of how much your domains are worth. Visiting NamePros and other domain blogs is a good way to learn valuable information from helpful, knowledgeable professionals about their successes and failures in the domain industry.

Happy domaining!
 
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The views expressed on this page by users and staff are their own, not those of NamePros.
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Thanks for the insight PAL. Really helpful.
 
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Coincidentally,I bought a name thirdrule.com only a few days back.

Thanks for the info,I see you are from Delhi
 
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Coincidentally,I bought a name thirdrule.com only a few days back.

Thanks for the info,I see you are from Delhi
That would be a good name for a blog I guess.
Cheers! :)
 
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well done for the info. Cheers.
 
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Good article and insight. Thanks for sharing!
 
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@Vandesh what do you think of this name GlassH.com. I got it from deleted names and re registered it, though was 6 yrs old according archive.org analysis before expiration.
 
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@Vandesh what do you think of this name GlassH.com. I got it from deleted names and re registered it, though was 6 yrs old according archive.org analysis before expiration.

As you mentioned, the history of the domain is a bit messed up in Who is records. Although, a quick check on namebio.com for recent sales starting with glass would raise hopes for acquiring this domain name. GlassHoles.com sold for xxxx$. So this gotta be something. Yeah?!

But I would suggest you to visit this link -
https://www.ulprospector.com/en/na/...ium-Hexametaphosphate--Long-Chain-SHMP-Powder
The ® next to GlassH worries me a little. I suggest you do a little more research on that, if you're someone who is bugged by The Cybersquatting Demon.

Good luck :)
 
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When I accidentally dropped my own domain name as I did'nt had renewal fees in my pocket I came to know that someone can even re-register it and sell it here.

That is who I came to this forum.

2 steps I learned -

1) Keep your domain names with you as you are never going to sell it and enjoy its benefits. It is just some more zeros after some bank balance that you need in your life.

2) Don't ask others or trust others especially on domain name forums and domain name groups as they are domainers too and well no one will understand your situation so just try to drink and doze off.

Get up at 40 or 50 and get to some AA meetings. You can beat some AA bastards there if you don't like them. They won't bite you as they are already down and out. They are on bottom of the food chain hehe.

Anyway if you also want to be there then just behave and listen to their BS why they haven't touched alcohol in last 15 years and still are barking here about alcohol. LOL. Major drama. Drink sensibly.

Now 12 steps of domaining....

Actually I was kicked out of the 1st step so I don't remember it but yes that beer was tasty.
 
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Thanks Vandesh! i visited that link but doesn't seems to understand a bit of thing there as one who's not familiar with domain terms.
 
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Thanks Vandesh! i visited that link but doesn't seems to understand a bit of thing there as one who's not familiar with domain terms.
You really don't have to understand anything on the page. All you should get from it is that "Glass H" seems to be a registered trademark. So you should just be careful and do some research if you're not breaking any laws, since you already acquired the domain.
 
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as for trademark i checked before acquiring it. I contacted an attorney who specialized on domain issue, who advised i should go ahead with it.
 
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as for trademark i checked before acquiring it. I contacted an attorney who specialized on domain issue, who advised i should go ahead with it.
Then I bet you should have landed at least Xxx$, if not more :)
 
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1. Ask at least 3 people how each name sounds!

don't ask anybody

either you have a vision or not
if you think its good - go for it
 
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don't ask anybody

either you have a vision or not
if you think its good - go for it
The whole point is that sometimes, you are so caught up in your own head with a name, that you tend to make poor choices that you later regret. Holds true more for beginners, as mentioned in the post.
 
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The whole point is that sometimes, you are so caught up in your own head with a name, that you tend to make poor choices that you later regret. Holds true more for beginners, as mentioned in the post.


so what?

thats how you learn
 
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"fail fast" = way to success
 
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