When I read Ron Jackson’s weekly sale report, I see at least one or two domain names that sold at a price I would classify as a great deal, and occasionally, I see a name that I wish I had bought for that price. When I see those types of deals come across the wire, my immediate thought is usually something like “shoot, that buyer got a great deal. I wish I had known about it.”
I want to share three tips on how you (and I) can reduce the number of times this happens and score good deals. They may be common sense to some of us, but a reminder is always good because great deals happen on a weekly basis, and being proactive about finding them is what is needed in order to score these deals on our own.
Tip one: Each day, people list domain names for sale on aftermarket websites such as Sedo, Afternic, and Aftermarket.com. In my opinion, the majority of domain names listed for sale are overpriced, with the owner hoping that the perfect buyer with a pocket full of money needs a particular domain name. Sometimes I have found that domain owners are more interested in selling quickly rather than optimally, and their listed price is very fair. If you search through the newly listed domain names, perhaps you will find an anomalous well-priced listing.
Tip two: Each one of us has some sort of expertise in a field beyond domain investing. Some people are professionals in other business, and others have become quite knowledgeable about another field because of a hobby or special interest. Others have become experts in a particular field due to our domain investments or sales. Whatever the case may be, you should use that knowledge to find great deals in a specific vertical. If you are an expert in the legal field, have a look through the legal category in each domain marketplace. Try to spot excellent prices on domain names you think are valuable. Use your knowledge to score a great deal others may miss. For the best luck, search by newest listings since it’s likely that fewer people would have already passed on the domain name.
Tip three: Work with an account or sales representative at the company to have them find domain names for you. Give them specific topics and areas of interest, and let them know your parameters. Oftentimes, they are able to search their marketplace better than you can search, and sometimes they know of new listings or aggressive domain sellers. Meeting these people is easy. Call or email the company’s support team, or better yet, connect with the company at a domain investing conference. Reach out to your representative monthly (or whatever suits your needs) and ask them for specific types of domain names.
In order to get great deals on domain names, you need to be proactive. I’ve always thought that I make my profit when I buy a particular domain name. If you get a great deal on a domain name, you can optimize the sale price when you are looking to divest.
Always see something on DNJournal.com or in Namebio.com that I’m like “man I wish that I’d had that opportunity”. Every week.
Seems that domainers that are selling would be wise to read through your advice and flip it on it’s head too.
Don’t price and sell your names “in a vacuum”, without shopping the name around. Working a deal without asking around to see if anyone else may be interested is a damn shame for a seller. Sure sometimes you might have what you think is a slam dunk of a deal but you might have missed something. Doesn’t hurt to look around.
If you are selling a domain, before you make a final call on an offer, you can always email me and ask me if I’m interested. 🙂
Would be good advice for that poor ChatRoulette.com guy.
Flippa.com is the evergreen place for me to find good domain names.