It is essential for owners to price their domain correctly before selling it. Even if they have no immediate plan to sell their domain names, they should update the price according to what is prevailing in the market. While some people know the ins and outs of the domain pricing process, many make miscalculations when deciding on a website domain price.
Here are some of the mistake owners make when deciding their domain price, and ways to avoid them.
- Most Common Mistakes
- Using hyphens or numbers in the domain name. People hardly remember the punctuations while typing the URL (Example: i-love-Father.com or loveme4ever.com)
- Having an ambiguous name (Example – molestationnursery.com for Mole Station Nursery). Analyze your domain name carefully and consider asking 2-3 people because this may miss your attention.
- Using words that have different spellings (Example: thetipsytraveler.com vs thetipsytraveller.com)
- Choosing a name close substitute to already popular domain. You will have a hard time ranking in search results. (Example: DomainsBuy.com vs BuyDomain.com)
- Not Considering the Length of the Domain Name
When it comes to buying and selling domains, the length of the name matters. The shorter the domain name, the greater its value, generally speaking For example, www.home.com might be worth more than www.everythingforyourhomehere.com.
- Not Considering the Age of a Domain Name
Domains that have been around for quite a few months or years rank higher on search engines. Thus, many buyers prefer older domains names. Even if you are looking forward to flipping domain names, it is recommended that you keep the domain name for at least a month or two before you flip it. This helps you fetch a higher value.
- Ignoring Website Development and SEO Efforts
When you have a website built on a domain, the valuation is increased. Also, if you have invested time, effort and money on SEO, this is also likely to increase the value of the domain. Pay attention to SEO effort and ranking when pricing your domain.
- Pricing Without Doing the Research
Before setting a price, it’s important to first do your research and find the best place to sell domains. Determine your domain’s worth and seek out domain price comparisons. Without researching portals where you can trade or sell domains, you may end up undervaluing or overvaluing your asset.
- Overlooking Usability and Demand
When considering the domain name you want to sell, determine its use and the industry that is the best match. Also, figure out the demand for it in that respective industry. Both of these factors will help you with a domain price check and determining a proper value.
To Sum Up
Domain name price and availability are the two most important criteria for every domain buyer. Remember to choose a name close to one that is already popular so that you will achieve better SEO results. Keep your domain for some length of time to increase its value when you are ready to sell. Do your research so that you can find a reliable portal frequented by buyers and sellers and get a sense of what the market will bear before you set your price. Following these tips will help you set the appropriate valuation and gain the best price for your domain names.