Hello,
This topic is designed for those new to the world of aftermarket domain sales, providing a comprehensive introduction.
What are the first steps to getting involved in aftermarket domain sales?
How does the process of transferring a domain work?
One of the most common errors is insufficient research before purchasing a domain, neglecting to understand the market, the value of similar domains, and the potential demand for the domain. Beginners often overprice their domains due to overestimating their value, deterring potential buyers with high listing prices. Ignoring current trends and popular keywords can lead to purchasing domains with little to no demand. Impatience is another issue, as domain flipping takes time, and beginners often sell their domains at lower prices due to impatience.
Maintaining purchased domains is crucial, including renewing registrations and avoiding blacklisting. Poor negotiation skills are common, with beginners often accepting initial offers without attempting to negotiate a higher price.
Additionally, legal considerations such as trademark infringement are often overlooked by beginners, potentially leading to legal issues. Success in aftermarket domain sales requires patience, thorough research, and a comprehensive understanding of the market.
The process of transferring a domain typically involves the following steps:
Unlock the Domain: The domain must be unlocked at the current registrar. This is usually done through the domain management interface.
Obtain the Transfer Code: Also known as the EPP code, auth code, or transfer key, this is a password for the domain. It is provided by the current registrar.
Initiate the Transfer: At the new registrar, you will initiate the transfer process. This typically involves entering the domain name and the EPP code.
Authorize the Transfer: The new registrar will send an email to the administrative contact for the domain (as listed in the WHOIS database) to confirm the transfer. The email will contain a link to authorize the transfer.
Wait for the Transfer to Complete: The old registrar will release the domain, and the new registrar will pick it up. This process can take up to 7 days.
Lock the Domain at the New Registrar: Once the transfer is complete, the domain should be locked at the new registrar to prevent unauthorized transfers.
Engaging in the aftermarket domain sales process involves several essential steps. First, it's crucial to conduct thorough research and educate yourself about the domain aftermarket industry, including domain valuation, the factors that contribute to a domain's value, and the legal aspects of ownership and sales.
Additionally, setting a budget for domain investments is vital, considering the inherent risks. Finding potential domains can involve searching for expired or undervalued ones on auction sites, expired domain lists, or by contacting owners directly using tools like WHOIS lookup. Upon identifying a domain of interest, purchasing it through an auction site or negotiating a direct purchase with the owner are two common approaches. When it comes to selling domains, listing them on domain marketplaces or directly reaching out to potential buyers are typical strategies, often requiring negotiation.
Finally, once a domain is sold, transferring ownership to the buyer is necessary, involving tasks such as unlocking the domain and providing transfer codes. It's important to keep in mind that domain flipping involves risks and demands extensive knowledge of the industry, including legal considerations such as the potential for trademark infringement.