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Buying and selling domain names is one way that many people make money online. A lot of money can be made by many people by flipping domain names. In order to make online money with this method, you have to do more than just buy a domain name and quickly sell it. In order to make money with this activity, you have to work. Remember, don’t think that there is such a thing as making money online without having to do any work. In order to make it easier for you to make money online by selling domain names, here are a few hints.
Beef up your negotiation skills. A major component of being in business is learning to negotiate. No matter what you do, people buying from you will always attempt to get you to offer more for the same price, whether through additional products or services, or at the very least try to convince you to lower your prices. There are flippers who will refuse point blank to negotiate. While this is certainly a legitimate stance to take, we recommend that you learn how to polish your haggling and negotiation skills. Negotiating (or even agreeing to negotiate) with potential buyers will make them more likely to trust you and increase your chances of making a sale. You may even be able to apply those bargaining skills to increasing the size of your sale!
Create a strong listing description. If your listing description is good, you’re more likely to sell your domain name. Keep in mind, however, that a good listing includes more than just a price. Include any appraisal values you’ve been given. You could also list any traffic metrics or advertising revenue it has been bringing in (if it is attached to a website). Another great idea is to include descriptions of the types of sites that might fit those domain names. For example: carparts dot whatever is not going to do well on a beauty site. The more people know about the domain name the more likely they will be to actually buy it.
Make it easy for others to get in touch with you. Potential domain buyers want to contact the seller at least once before they make a decision to purchase the domain name. Most potential buyers will just research the Whois info for the domain name that they want to purchase. If your information is private and potential buyers don’t have any way to contact you, you may find it harder to make any sales.
Domain name flipping is a perfectly legitimate business model. This type of business has made lots of money for many internet marketers. Of course not all businesses that flip domain names are the same. The amount of money you stand to make is directly proportional to the amount of time you spend expanding your business.