unixbro-patty
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First let me say this is a global business. The internet is worldwide. So everybody involved will have different ideas on what a domain is worth. Domains that can be very huge i America may not be so useful in for example lets say England. Also a domains worth is valued on what the owner can do with the domain. Your local car mechanic cannot use a domain thats centered towards realty and your realtor can't use a domain centered towards mechanics.
Build a niche or a bunch of niches when buying domains. Only buy domains that you know you can sell. Also (I'm going to get flamed for this I know it LOL) only buy domains that have your countries extension on it.
My secret to my success in this business is I only buy domains that are usable in my country. I don't buy the .ws .in or any others. Why ? because I can't market them to prospective buyers. I see many people buying domains they have no clue how to use or market. To me this is a waste of time and resources. Time is money and to make a good living in this game you need to spend both wisely.
For example are you a realtor getting into domaining as a hobby? Then most likely you would buy realty related names as you know the business inside out you have a better chance than I do of marketing a realty based name.
Make sure your not paying to much for a domain. Make sure your budget can handle your purchase. Don't buy a domain name because it sounds cool and you think you can make good money off it. Instead buy a domain name because you know you can market it and make good money off it.
When you purchase a domain make sure you know you can be sitting on that domain a while till a good offer on that domain arises. Some domains I have owned for a few years. I will keep them in my inventory till I sell them because I bought them knowing their potential.
Overinflated traffic: This comes up alot. People sell domains claiming to have 5000 hits a day making $100's of dollars. But they are offering you this domain for $59.95 because they just don't want it anymore. Trust me folks if the domain is really making that much money without the owner inflating the numbers he wouldn't be selling it to you so cheap. Ask to see his stats. Make sure you look at the refferers. Are 90% of the refferers from namepros? This happens alot the domainer buys the domain then spams it in the forums and chat room numberous times. This to them is traffic. However when you buy the domain and you don't spam it everywhere the traffic dies and you have no clue why.
The above to me is a clear example of theft. Many will claim I'm wrong because thats how they make their money selling domains. You be the judge of that.
Developing sites: Developing a site for resale is a great way to boost the value of a domain up. Many domainers use premade scripts and thats great. But please add something unique to your site. If we all use say the same joke script for our joke sites then google will not rank our site higher than the others because we will all have the same keywords and design. Developing a site takes time patience and sometimes money depending on your inventory. Take the time to develop something different into your premade scripts. Your search engine rankings and your paycheck when you sell the domain will show your work.
Forums: God this one urks me to no end. How many people here pay people NP$ to register and post to a forum. Yes this is a great way to get a few posts but don't think these people are sticking around. Find creative ways to populate your forum correctly with members who want to join your site and will be around your site for the long haul. Newsgroups are full of people that will join your site. Don't just spam a newsgroup either that is spelling disaster for your site. Join the discussions in the newsgroup and make freinds. This way you can get them to join your site and have fun at the same time.
I hope this article can be of use to the people struggling in this bussiness. Everything I suggest in the articles I write is how I run my business. So everything is already proven to work.
Good Luck in Domaining
unixbro
Build a niche or a bunch of niches when buying domains. Only buy domains that you know you can sell. Also (I'm going to get flamed for this I know it LOL) only buy domains that have your countries extension on it.
My secret to my success in this business is I only buy domains that are usable in my country. I don't buy the .ws .in or any others. Why ? because I can't market them to prospective buyers. I see many people buying domains they have no clue how to use or market. To me this is a waste of time and resources. Time is money and to make a good living in this game you need to spend both wisely.
For example are you a realtor getting into domaining as a hobby? Then most likely you would buy realty related names as you know the business inside out you have a better chance than I do of marketing a realty based name.
Make sure your not paying to much for a domain. Make sure your budget can handle your purchase. Don't buy a domain name because it sounds cool and you think you can make good money off it. Instead buy a domain name because you know you can market it and make good money off it.
When you purchase a domain make sure you know you can be sitting on that domain a while till a good offer on that domain arises. Some domains I have owned for a few years. I will keep them in my inventory till I sell them because I bought them knowing their potential.
Overinflated traffic: This comes up alot. People sell domains claiming to have 5000 hits a day making $100's of dollars. But they are offering you this domain for $59.95 because they just don't want it anymore. Trust me folks if the domain is really making that much money without the owner inflating the numbers he wouldn't be selling it to you so cheap. Ask to see his stats. Make sure you look at the refferers. Are 90% of the refferers from namepros? This happens alot the domainer buys the domain then spams it in the forums and chat room numberous times. This to them is traffic. However when you buy the domain and you don't spam it everywhere the traffic dies and you have no clue why.
The above to me is a clear example of theft. Many will claim I'm wrong because thats how they make their money selling domains. You be the judge of that.
Developing sites: Developing a site for resale is a great way to boost the value of a domain up. Many domainers use premade scripts and thats great. But please add something unique to your site. If we all use say the same joke script for our joke sites then google will not rank our site higher than the others because we will all have the same keywords and design. Developing a site takes time patience and sometimes money depending on your inventory. Take the time to develop something different into your premade scripts. Your search engine rankings and your paycheck when you sell the domain will show your work.
Forums: God this one urks me to no end. How many people here pay people NP$ to register and post to a forum. Yes this is a great way to get a few posts but don't think these people are sticking around. Find creative ways to populate your forum correctly with members who want to join your site and will be around your site for the long haul. Newsgroups are full of people that will join your site. Don't just spam a newsgroup either that is spelling disaster for your site. Join the discussions in the newsgroup and make freinds. This way you can get them to join your site and have fun at the same time.
I hope this article can be of use to the people struggling in this bussiness. Everything I suggest in the articles I write is how I run my business. So everything is already proven to work.
Good Luck in Domaining
unixbro
