Let's just take a quick glimpse at what we've done so far:
We've used www.wehavethem.com, www.DeletedDomains.com or www.namewinner.com to locate names that are about to expire or have expired.We've located consumer site names with a large amount of traffic in the past month. We've grabbed them either personally or using an automated grabber to ensure we get the names we want.
That whole process has taken you less then an hour. Just a quick search to locate a name and then register it. Easy. (incidentally if you are confident that a name you have purchased is valuable, it may be worthwhile securing the .com, .co.uk, .net, .org, .info forms of the name as well. That way no one can undercut you by bofering it cheaper. And chances are the buyer will want all five names. That means FIVE TIMES THE PROFIT!
Now it's time for the real exciting bit. Selling the name.
Once you have grabbed your domain name the simplest way to find a buyer is to register them in your name. This can be as little as £5 for two years. (.com names tend to be slightly more expensive the others). A simple search can put you in touch with tons of registration services.
Now your registered it's time to positively market your name. You can do this in one of two ways:
The Direct Approach - Making a direct approach to a buyer is a bit tricky. You could rent a mailing list of companies who are in the area your domain names are out and send them a simple sales letter. EG. If you had www.cheapplanetickets.com you would rent a mailing list of a travel agency.
Whilst this approach does work, it's both time consuming and if your sales letter isn't up to scratch your going to lose out.
So now to the way I do things - the lazy mans way to make fantastic money from selling domain names.
Using Brokers And Agents - Domain name brokers and agents will list your names on their books and try to find a buyer. They do this by either a fixed price or via auction.
As this business is fairly new ensure that you find an experienced brokers. Find out the following:
Their charges: ie commision, listing fee etc.
How many names are already on their books.
And what prices domains like yours are going for.
There is no limit on the brokers you list with if you want to increase the amount of people who see your offer.
I like to use www.sedo.co.uk or www.afternic.com. But many can be found via a google search.
You can also sell domain names on eBay. (They get just everywhere don't they!). Simply go to www.ebay.com and search for domain names. Be on the look out for any high quality names to buy as well. You see because this bsuiness is so fairly new people just don't realise the sort of money that can be made.
Once you've made the sale all you need to do is use your list brokers to act as a thrid party escrow service,. This basically means they will accept the payment for your name from whoever it may be you are selling to and then register the domain name to the new owner. All you have to do is sit back and wait for the funds to go into your account. It's THAT easy.
What Price Should You Sell At?
This is a vital aspect of this business. Pitch too high and you won't make a sale. So don't get too greedy. The price you get depends on the quality of the name, how much someone else wants it and how quickly you want to sell it. If your willing to sit back and wait for a big offer then that's fine. But if like me you want to make cash in the fastest possible time the key is to selling a name at a reasonable price and with a few names a week. It'll take a maximum of a few hours strat to finish per name.
The ideal affordable price range is in the rgion of £100/£500/£1000. At these figures people will be scrambling over eachother to get their expired names or the names of others. It's alot easier for a company to buy back from you at these prices then to either come up with a better name or try to rebuil their traffic at a new domain name.
Now remember that your overheads in this business are so very low. If you bought a name for £5 and sold for £500 thats a profit margin of TEN THOUSAND PERCENT!!!
There's so many reasons why I love this business.
The money to be made is incredible. Five domain names a week a would take you approx five hours. And if you even sold them at the minimum of £150 that's still £750 PART TIME.
I strongly reccomend you get into this business yourselves. It's simple, hugely profitable, and can be worked part time around a current job. Please. I ask just one thing of you. Try this idea once. Just once. It'll cost you just £5. When you see how easy it is then you can really go into it all guns-a-blazing! And if you found it wasn't for you what are you out? Just five measly pounds.
There's just one difference between those who achieve real success and those who float from day to day in relative financial obscurity. That's ACTION. So come on. Take that vital first step to making great money from home for just a few hours a week and see for yourself why buying and selling domain names is the opportunity of 2005.
All the best in your new venture.
About the AuthorJonathan Street is a master at making vast sums of money for very little investment.Direct mail, mail order, selling domain names, eBay...you name it - he's making money from it.He's also the author of "How To Make £5,000 - £10,000 A Month From Home". A book which he invites you to get for free from his ever popular web site.For FREE info and to get a copy of Jonathans book go to: http://www.millionaire-enterprises.com