Buying an already registered Domain Name

Domain Name

Choosing a domain name can be a bit more difficult than it appears at first glance. You have to choose between a searchable domain name and a brand-able one, find a popular top level domain and be creative enough to come up with a short and catchy name. Of course, you may not be inspired from the very beginning or you might just discover that another entrepreneur has already thought of the name you’ve been so thrilled about. Here you have a few tips on domain name registration you could use if you want to register a domain name that has already been taken.

You’ve done the necessary research for a domain name and now you want to buy it. Well, there are a number of situations you can encounter.

1. Your domain name is available

Should this be the case, just buy the domain name and you’re done. Always go for the well-known registrars and make the registration information public. After you make the purchase, make sure all your details are correct on Whois.com.

2. Your domain name has a website

But what do you do if the domain name you’ve chosen has already been registered? Check whether there is a website attached to the url or not. If there is, check its functionality, check when it was last updated. If you find the website dormant, go ahead and find the owner’s details on Whois.com. You just need to work on your negotiation skills a little and you’ll probably convince them to resell. From my experience, I can tell you that you’ve got a 60% chance of success with a dormant website.

3. Your domain name redirects you to a reseller or a market place

Now, you have two possibilities when it comes to market places. First, you have websites like Buydomains.com. Here, the negotiations are carried out by agents and not the domain owners. Second, you have websites like Sedo.com. Here, you interact with the domain owner and the bidding process is much more transparent. But the bottom line is that these websites are there to make money, so you should be prepared to pay a premium for a domain of your choice.

But how much is the premium? You can attach a value to the domain using a lot of tools. Some of them can rate it even if there’s no traffic to it. You have Domometer and Domainvalue.congland, for instance, which are quite useful. Then, you have Valuate, Urlappraisal or Siteprice and many others.

You may get a different value for the same domain on each of these websites. So let them give you a direction rather than a closing bid. You can also share these numbers with the domain name owner and make everything transparent. Watch out for domain name front runners. Never ask for a public opinion about a domain name that you are planning to buy. Domain name front running is a full-time business of snapping domains before you can buy them.

Domain name leasing

So you’ve completed your lookup and chosen a domain name. Now, you have to ask yourself whether your budget supports it or not. If it doesn’t, try domain leasing. However, you should be fully aware that it has a few drawbacks. For instance, you may not be able to sell the domain, the lessee may drop out of the deal, the domain may be too expensive to protect through escrow, the legal fees may be too expensive too or the value of your domain name may drop.

The more research you do to find a domain name, the better the decision you’ll make. Remember that the value of your business grows with the value of your domain name.

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