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I'd say one of the biggest issues with most domainers is over-valuing their domains. This comes from inexperience, ignorance about markets and buyers, and ultimately being blinded by the desire to "Get Rich Quick" as they say.
Here are some tips to help navigate the murky waters of domains:
1. Reputation Matters
Most of the very large domain sales you see are from experienced domainers with large portfolios. Professional domains have built a reputation that makes buyers more comfortable doing business with them. Many of them have waited several years for this buyer to come around, and turned down countless offers to arrive at that price.
Don't expect to get Top Dollar if you haven't put in the work.
2. Check the public sales for your Keywords
A big misconception is that hot keywords will make it more likely to get a sale. Take "Meta" for example. According to Namebio, there's only been 107 public sales for keyword Meta over $5000.... EVER. That's all extensions, all combos, all domains containing Meta. What makes your Meta+whatever domain a top 100 out of all the Meta domains out there. Something to think about.
3. Hand-registering a bunch of Junk
Just don't do it. Learn what works, learn what sells. Invest in a GREAT domain.
Remember, 1 REALLY Good domain is better than 1000 crappy ones.
The last 3 domains I acquired were hand-registered, but that's because I know what's great. If you have to ask it's probably not good.
4. Appraisals mean a little, but not a lot.
Don't be so focused on automated appraisals. Number of Extensions registered matters much more than appraisals in my opinion. Appraisals are something to consider, but many 5-figure and 6-figure sales were appraised at $1600 by Godaddy.
5. Don't rely 100% on domains.
Domains should be just one portion of your overall business and investment plan. Don't rely on domains as your sole source of income. If you are making so much with domains that it's possible to full-time, then go ahead. But for most people, you will only get a few sales per year and it's not sustainable long-term.
Domains are a long game. It requires patience, sales and market insights, negotiation tactics and more to be successful. If you have other projects and side income, then you can play the domain game more effectively.
Good Luck!
Here are some tips to help navigate the murky waters of domains:
1. Reputation Matters
Most of the very large domain sales you see are from experienced domainers with large portfolios. Professional domains have built a reputation that makes buyers more comfortable doing business with them. Many of them have waited several years for this buyer to come around, and turned down countless offers to arrive at that price.
Don't expect to get Top Dollar if you haven't put in the work.
2. Check the public sales for your Keywords
A big misconception is that hot keywords will make it more likely to get a sale. Take "Meta" for example. According to Namebio, there's only been 107 public sales for keyword Meta over $5000.... EVER. That's all extensions, all combos, all domains containing Meta. What makes your Meta+whatever domain a top 100 out of all the Meta domains out there. Something to think about.
3. Hand-registering a bunch of Junk
Just don't do it. Learn what works, learn what sells. Invest in a GREAT domain.
Remember, 1 REALLY Good domain is better than 1000 crappy ones.
The last 3 domains I acquired were hand-registered, but that's because I know what's great. If you have to ask it's probably not good.
4. Appraisals mean a little, but not a lot.
Don't be so focused on automated appraisals. Number of Extensions registered matters much more than appraisals in my opinion. Appraisals are something to consider, but many 5-figure and 6-figure sales were appraised at $1600 by Godaddy.
5. Don't rely 100% on domains.
Domains should be just one portion of your overall business and investment plan. Don't rely on domains as your sole source of income. If you are making so much with domains that it's possible to full-time, then go ahead. But for most people, you will only get a few sales per year and it's not sustainable long-term.
Domains are a long game. It requires patience, sales and market insights, negotiation tactics and more to be successful. If you have other projects and side income, then you can play the domain game more effectively.
Good Luck!
