Selling a domain name is easier than you think, especially if you use the right online marketplace platform to help you do it. You might be considering selling a domain name you’ve used for years, such as a blog or e-commerce shop, or you could own multiple domain names that you are interested in flipping for a profit. Whatever your reasons for selling a domain name, this guide has everything you need to help you do it. Before explaining how to sell a domain name with step-by-step instructions, we’ll take a look at a few frequently asked questions about domain names and the process of selling domains. Are you ready to make money online? Let’s jump in and profit from selling domain names.
What is a domain name?
A domain name is just the name of a website. It includes the name of the website (e.g. “Google”) and the TDL or domain name ending (e.g. “.com”). It does not include the “www.” portion of a web address, or any extensions that come after. In order to differentiate domain names from URLs, you can think of a domain as the name of a website, with each URL under that domain taking you to a specific page on that website.
For example, the domain name of Exchange Marketplace is exchangemarketplace.com, and to access the Exchange Marketplace Blog, you enter the URL “www.exchangemarketplace.com/blog” into your browser. To find dropshipping websites for sale in the Exchange Marketplace, enter the URL “www.exchangemarketplace.com/categories/dropshipping-websites-for-sale” into your browser. Both of these URLs exist under the same domain, but lead website visitors to different pages under that domain.
If you want to claim a domain for your own, you have a couple of options. Whichever option you choose to do will probably depend on the type of website you’re looking to claim a domain for. If the website is a personal website and you want the domain to be your name, you can easily use a domain registrar to claim “[your name].com” or a similar domain — if you have a common name or the domain has already been claimed, you can try using a different TDL like .net to see if you could claim that domain instead. If you want to own an e-commerce or business website domain name, you could use the same process of coming up with and claiming a domain for it, or you could purchase an already-existing domain from a website-selling marketplace platform like Exchange Marketplace. Using Exchange, domains and the e-commerce businesses attached to them are sold for profit by business owners. The buyers not only purchase the domain name itself, but also the business that comes along with it.
Why sell a domain name?
There are three key reasons to sell a domain name: to make money online, to flip domains as a strategy, and because the domain you’ve purchased is an asset which has appreciated in value.
1. It’s An Income Source
There are plenty of reasons to sell a domain name, but the main reason why most people do it boils down to making money online. A domain could be listed for sale because the person who owns it has been using it to make money as an e-commerce business, media website, or other online venture, but they no longer have the time to manage that business. Instead, they decide to make a profit off of selling their domain name and the business along with it.
2. To Flip Domains
Some business owners grow online businesses for the express purpose of eventually selling the domain for a profit. Other people claim domain names that they think will be popular or in-demand in the future, then sell a domain through a process called domain flipping. If you’re looking to get into domain flipping as a side hustle to make you a little bit of extra money, keep reading this blog to learn how to do it. You may be surprised to learn how much money you can make simply by selling a domain name.
3. It’s An Asset
Another reason to sell a domain name is because you’ve purchased it as an asset. Some names are considered high value such as single word or letter domains. Some people park those domains for a few years until it’s the right time to sell, such as seasonally or because it’s value has increased.
Can you sell a domain name for a profit?
Yes, you can sell a domain name for a profit. How much of a profit you make on your domain will depend on its value to buyers. For example, if you can prove that your domain name and corresponding e-commerce website generate a profit for you each month, then you’ll be able to sell your domain for a price corresponding to your monthly net profit with the help of a domain flipping or business marketplace website like Exchange.
For example, take a look at the price of the domain name directaudios.com, listed for sale in the Exchange Marketplace. With an average monthly profit of $1,000, the domain name’s owner has listed it for sale at the price of $500.
Compare that listing price to the price of a different Exchange Marketplace listing for the domain name more4motion.com. This domain name’s owner has listed the price as $710,000, significantly higher than directaudios.com, however, when you look at how much of a monthly profit is generated using this domain, you can better understand the difference in pricing. This is not, however, an exact determination of value for a domain name — other factors such as website traffic and advertising data can also impact the price of a domain, and thus the profit you could make off of selling it.
Another factor impacting the profit you can make off of selling a domain name is whether you list it using a fixed-price or auction-based pricing model. There are benefits and downsides to either model. If you use a fixed price, and refuse to budge on that price, it could take you much longer to sell the domain, especially if you created your listing at a high price. However, using a high fixed price will ensure you maximize your profit. If you choose to price your domain name by doing an auction-based pricing model, you’ll probably be able to sell your domain name more quickly, but the price will depend on how the auction goes, and you might risk having to sell it at a lower price, generating a smaller profit.
Can you sell a domain name instantly?
No, you cannot sell a domain name instantly, but with the help of marketplace websites like Exchange Marketplace, you can come pretty close. Creating a detailed listing with accurate, up-to-date information about your domain name, what kind of website it houses. Exchange Marketplaces allows users to enter plenty of details including e-commerce inventory, advertising and traffic data, expenses, social media account information and more, enabling them to quickly and easily sell domain names.
Best place to sell domain names
The best place to sell domain names depends on the type of domain you are attempting to sell. If your domain name hosts a Shopify-run e-commerce business, your best bet is to sell domain names on Exchange Marketplace. Exchange makes it easy to list your domain on a website flipping platform where an interested buyer can browse and easily find everything they need to know before making a purchase. Each step of the way, the process is structured to help buyers and sellers avoid misinformation and accurately poray the value of each domain, while also keeping things easy, fair, and user-friendly for both sides. The process of listing and selling is actually pretty simple, and once a buyer is interested, you can easily transfer your domain name to them.
How to sell domain names
Now that you know all about domain names and the process of selling them, you’re almost ready to start making money on domain flipping using Exchange Marketplace. The process involves first finding the value of your domain, then gathering details about it, creating a domain listing, receiving a secure payment for your domain, and ultimately transferring the domain name to its new owner.
1. Find the value of your domain name
When selling your domain, it’s important to list it at the right price. Some people overprice their domain simply because they want to earn more money, but it’s important to remember that it’s the buyer who determines whether something is priced correctly. Listing the domain at too high of a price might result in no sales, whereas listing the domain at too low of a price means you’ll miss out on potential profit. Exchange Marketplace makes it easy to find the value of your domain name with its website valuation tool. Just enter as many details as you can about your domain for an accurate valuation. You can always adjust the price later, but the valuation tool will give you a good baseline to go off of.
One of the main factors in determining the value of your domain name is the monthly revenue associated with your domain. With Exchange Marketplace, the data is taken directly from Shopify, cutting out extra work associated with your domain valuation. Here is an example from OfficeStarStore of how your domain name’s revenue could be graphically represented in an Exchange Marketplace listing.
2. Gather details about your domain
When creating your Exchange Marketplace listing, the best practice is to include as much detail as possible in order to sell your domain to buyers. Make sure to describe what the purpose of your website is, any revenue streams, details about your inventory and other costs, how you advertise, and any other information that could give buyers a good picture of the value of your website.
For example, Rainbows of Hope, an e-commerce domain specializing in wall decor for baby nurseries, has an Exchange Marketplace listing that includes information about why rainbows are prominently featured in their products as well as details about their influencer advertising efforts.
3. Create a domain listing
Once you’ve decided what details you would like to include in your domain listing, it’s time to create it. All you have to do to create a listing in Exchange Marketplace is visit the Create A Listing page and enter your domain. Then, follow the steps as prompted, and you’ll be on your way to selling your domain name. Now, all you need to do is keep an eye on your listing to see when buyers take interest. You can promote your listing on various websites, forums, and on social media.
4. Receive payment for your domain
Now that buyers can see your domain name listed on the Exchange Marketplace platform, they can make you an offer for it. The offer might not be as high as your asking price, but if you get multiple offers it might be much higher. Ultimately, you decide which offers you will or won’t accept. If you accept, the buyer will get a chance to inspect the domain for sale, all aspects of your website, and other assets. Then, if everything looks good to them, the monetary exchange is carried out securely through Escrow.com.
5. Transfer your domain
After the money is transferred over to you, the domain must be transferred to the buyer. You will have to update the Registrar Information from your Shopify admin page to represent the buyer rather than yourself. If the domain for sale included other elements, such as an Instagram account or Google Analytics data, that information will also need to be transferred. After you finish this step of the process, you’re finished — all profits and expenses that had to do with your domain are no longer your responsibility and now belong to the buyer.
Learning how to sell a domain is easy when you have an online marketplace platform like Exchange Marketplace to help facilitate it. If you think it’s time to sell your Shopify e-commerce store domain name, Exchange Marketplace is the perfect place to do it. You might make a hefty profit off of your first sale, and decide to make domain flipping your permanent side hustle. Remember to accurately estimate the value of your domain, include as many details as possible in each listing, and ensure your transaction is carried out safely and smoothly using all of the tools provided by Exchange Marketplace.