Domaining: What is it?
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You’ll hear a lot of people in the internet marketing business refer to “domaining” at some point or another.
A lot of people out there simply don’t know what domaining is, so in this article we’re going to look at the definition of domaining, as well as some top tips for anyone who might want to try their hand at it.
Domaining typically involves buying a domain name that is perceived to be valuable – it then involves marketing that domain for sale until it can be sold on at a profit.
Different domainers take different approaches – remember that the bulk of “good” domains were bought up a very long time ago.
Finding a real gem that has never been registered is almost impossible – the process of domaining has evolved somewhat since those early days.
Various people who saw the potential of domain names bought lots of them and have sold them gradually over the years – so the chances are that you’ll have to bite the bullet and purchase a premium domain name from an existing domainer in the hope that it will appreciate in value further.
So here’s how domaining works: People buy domains that they think are worth money – they then sit around and wait for someone to buy that domain off of them.
Sometimes a domain can be picked up and newly registered and sold on for a large profit – this is very uncommon nowadays though as the majority of valuable domains have been registered.
Another way to make money is to buy domains from domainers and hold onto them even longer in the hope that they appreciate in value – domains are a long term investment, rarely will someone come along and flash cash at you for a domain, it’s usually a case of you having to find them.
Top domaining tips
Some people see the world of domaining as a place where you can “get rich quick” – this really isn’t the truth of the matter though.
Domaining involves a lot of hard work especially on the research side of things. It’s up to you to identify valuable domains that no one else has registered which is definitely not easy.
Here are four really simple tips for people thinking about starting out as a domainer:
- Stay away from trademarked domain names – lots of them are free because if you do register one, you could get into trouble with the trademark holder. For an easy life as a domainer, always check the terms you’re registering aren’t trademarked.
- Hold all of your domains with one registrar. Pick a registrar and stick with them – holding hundreds of domains with lots of companies gets confusing and you can quickly lose track of what’s happening.
- Be patient because domaining isn’t an overnight “get rich quick” scheme – it could take years for your domaining venture to become profitable.
- Know when you should sell – sometimes you’ll get a low offer for a domain you’ve held for years. Should you hold out for the price you want, or should you cut your losses and take the knocked down price? Every situation is different, but knowing when the right time is to sell is crucial to your success as a domainer.
If you think you’ve got what it takes, why not become a domainer today?