Have you ever asked yourself these questions?
How can I select the right domains to flip?
What are the things to consider when choosing a domain name?
What are the essential elements I need to care about?
If you did not find a satisfactory answer to your questions, you are at the right place. You are just going to discover the exact things you should know.
Flipping domain names is certainly one of the most profitable ways to make money online. But you can expect success only if you follow the right guidelines or follow an expert who has already done it successfully.
Like every business, it also has risks involved. But depending on the amount of money you can expect to make, risks are simply nothing to care about.
You just need to know how to judge the quality of a domain and its value.
If the domain you want to buy meets all the criteria, you can make a quick purchase. Here are some of the most important factors to be careful of.
Of course, you can purchase any domain name of your choice and you may even be able to sell them. But if you remember certain qualities of a good domain, it will be much easier for you to make a sale.
So here are some of the qualities that make a good domain a Great domain.
1. Try to Make It Easy to Remember
Everyone loves to buy domains that are easy to remember. A domain that is easy to remember is easy to market and promote to people. So businesses would love to acquire only domains they can easily promote.
Nobody wants to build a company website using a domain that people would find hard to remember. So this is a very important point to consider.
Try to keep the names as short as possible. It really helps. Please do not buy domains that contain hyphens and numbers.
2. Find Only Keyword Rich Domains
A keyword rich domain name means a domain that contains the keywords matching the actual business. Suppose a businessman wants to build a mortgage related website, he would love to find domains that contain the word mortgage.
Or he would at least buy a domain that contains words related to mortgage like house payment, finance or interest rate. I hope you got the idea.
Since you are into buying and selling domain names, it would always be a good idea to purchase only keyword rich domains. Because these domains are easy to sell and it’s much easier to convince the buyers.
3. Buy Domains That are Brandable
Here you need to be a little bit creative about finding the best brandable domain names. I already talked about choosing only keyword-rich domains.
But you must know that there are domains that are sold for thousands of dollars. But it’s not for the keywords in them, but because they sound like brands.
If you visit BrandBucket, you would see how simple domains are sold for thousands of dollars and how these domains have been given a branded look.
Take a look at the below picture to have an idea.
The list doesn’t end here. There are thousands of domains like this. People really buy these domains and pay that much money to get the ownership.
Think if you are the owner of one of these domains, how much you can expect to earn. However, a simple domain name can be made look like a brand.
Be creative, promote the domains to the right people at the right place and make money. Do you need guidance? Here’s the course I always recommend.
So now you know the importance of finding brandable domains. Right?
4. Consider .COM Domain Extensions Only
You should buy .COM TLD as this is ideal for most businesses. If you are having a business online, most of the time your customers would assume that you are using a .COM domain, not any other extensions.
So most businesses would love buying .COM domains only. More than 48% of all domains that were sold last year were .COM domains.
You can even purchase several extensions and redirect them to .COM version using 301 redirect. But if you want to sell in a particular country only, consider country-specific domains like CO.UK for United Kingdom and CO.IN for India.
5. Judge the Right Value of the Domain
If you want to purchase expired domains, this is something you have to master.
Before you can start flipping domains, you should be able to judge the actual value of a domain. Because if you can’t judge the right value, you may even lose money. You may sell domains at cheaper price than it should be.
However, the real value of a domain lies in the number of backlinks it has and the relevancy and the quality of these backlinks.
Backlinks are simply links pointing to your domain from other websites.
Usually the more links a domain has, the more powerful it is. But it’s not all the time. Relevancy of linking sites matters a lot.
Also a backlink from within the contents is more powerful than a link from footer or sidebar of a website. How relevant is the content of the site and its quality matters. There are many online tools to check the backlinks of a domain.
I recommend Moz site explorer to determine the value of a domain. A bit of PA ( page authority ) and DA ( domain authority ) is always a bonus.
So if you are going to purchase an expired domain, try to make sure that you purchase only the best quality domains.
Even though the earning potential in this business is huge, you may even incur serious loss. Flipping domains has made people millionaires. But it’s possible for you only if you follow the right guidelines and some proven strategies.
However I am not here to scare you, but to really help you build a solid domain flipping business online. Because I know how powerful it is.
So now you know how to judge the actual value of a domain.
These are 5 most important things to consider when choosing a domain name for flipping. However, there are many things you would learn with experience. The idea is very powerful. So don’t forget to take action.