Buying and Selling Domain Names – Common Myths and Misconceptions
By now, you know that domain flipping is the act of buying and selling domain names when done in the right way, it can be highly rewarding and profitable. However, even this venture is associated with myths and misconceptions.
Many people think of buying and selling domains names is a scheme to get rich quickly. But little do they know, it takes a lot of hard work to be successful. It is time to bust all the myths and focus on the positives of your domain business.
Some of the most common myths and misconceptions are:
.com Extensions Are Expensive
Today, .com extensions are stigmatized. Yes, they are at the very top of the food chain but these extensions do not come with their concerns. Many domain buyers believe that all of them are taken as they have been in existence for a very long time. They can also be bagged from the most popular portals. You simply have to log in and you will surely find one
GoDaddy is the Number One Domain Registrar in the Business
Granted, GoDaddy is a reputable domain company that has been in existence for quite a long time but it is not the only domain registration website. There are plenty of these on the internet and they are all at your disposal. Different registrars’ offer a high level of security and the best customer service. You do not have to worry about any of your private information being compromised.
All Good Domains Have Already Been Taken
This could not be further from the truth, nor should it limit your buying and selling domain names. With millions of domains being registered on a monthly basis, buying and selling domain names is highly lucrative. But all good domain names have not been taken. In fact, there are thousands more to be discovered. There are plenty of two word and three word domain names that have incorporated your keywords. An unlimited number of domain names keep coming to the market.
Finding a good domain name can be easy, specially when you user great tools like Domainer Elite Pro. Checkout their trial offer, and generate great domain names that awesome for selling and buying domains.
It is Unethical to Register Multiple Domains
If anything, registering more than one domain name is the best way to go. There is nothing unethical about it. Just because some entrepreneurs want to have one domain name does not mean that your options are limited in any way. You are free to buy or sell as many domains as you want.
.com Domains Rank Higher Than Any Other Domain Extensions
This is an untrue myth that is floating around the internet. While .com domain extensions play a role in Google search Rankins, they are not the only extensions that can rank highly. Other extensions are also prioritized. Extensions like .net, .org and the rest compete with.com on a level playing field.
Social Profiles Will Replace Domain Names
Social network portals may be taking over our lives but they are not going to knock domain names any time soon or ever. While it is believe that businesses will not want to build websites anymore because of social media connections, the benefits of having a professional and independent website outweigh this.
Buying and Selling Domain Names Can be Done Passively
Flipping domain names is not a passive venture. It certainly requires all if your time and attention. You cannot just buy a domain, list it in an aftermarket site and forget about it, waiting for your profits. Domain flipping is not only about listing domain names and waiting to sell them. You need to be involved in the buying and selling process .The right negotiation skills also come into play.
The Domain Flipping Business Can Be Mastered Within a Few Weeks
Flipping domains is not a hobby that can be mastered in your spare time. Do not fall for this marketing gimmick. At least to master. It, you would require one year to master the best domain flipping tricks. There are many mistakes that you will make during this time. This is not a quick method that will get you rich. You need to put in the work to see the returns.
A Single Sale Every Month is Good Enough
Buying and selling domain names is not child’s play. You have to take your time in order to successfully learn the trade. Serious domain flippers aim for as many sales that they can get every month, not only one. Ideally, working for up to four hours per day should give you the momentum that you need.
When You Register A Domain Name, You Become The Sole Owner
Once you register a domain name you gave the right to use it for a specific time period but it does not solely become yours. If you do not renew the name then it will expire and another buyer will have it.
Without A Website, You Cannot Own Domain Name
You do not need a website to have a domain name. Park your domain and it will give you the high quality returns that you deserve.
A Registered Domain Name Comes With A Website
Forget about two for one offers. You will not get a domain name when you register a website. Instead, you will only have rights to the website. You can simply use the name with a web hosting service. There are many domain resellers who provide free hosting services.
Domain Registration Increases SEO
This is certainly not true. Google has introduced stricter ranking rules and domain registration is not one of them. Some factors that affect SEO include search engine result page (zero) and click through rate (CTR) but not domain.
Domain Names Are Expensive
While ignorance is bliss, it is certainly time to be more enlightened about domain names. Buying and selling domain names is not an expensive venture. If anything, it is highly affordable to most people. Do not limit yourself from getting a domain because you assume that you cannot afford it. Research on the most affordable domain names for you.
Good domain names are not easy to come by. They are also hard to find. In other words, acquiring them is not easy. But do it the right way and a few years down the line, you will be grateful for this decision.