A Few Novice Domain Questions

[scwebsites]

I'm keen to learn more about this industry. Whilst I have always been very successful developing and selling websites, I'm a complete newbie to domain buying and selling, and I'm keen to dabble a little...

Is there still money to be made in domains for the newbie? Or is it the case that existing pro domainers have the market wrapped up?

Is it still possible to make good money on a newly registered domain, or are all the good ones gone? Surely with all the pro domainers, and all the tools they have, all the valuable domains are gone.

I have thought domains are great, only to be told later that actually they are not that good. Likewise I see domains that look terrible sell for thousands on Sedo. How on earth do you work out what is good and what isn't?

How do I go about finding out what domains are dropping and how do I go about competing for them? I know about back ordering but I have been told that some people have the advantage over others when it comes to drop catching.

If you were not a pro domainer, knowing what you know now, would you still get into it, and how would you get started?

 

[Bailey]

There's still money to be made in domain registrations today - just not to the same ease and frequency you could register say 5/10+ years ago. But even then people made lots of mistakes and ended up with worthless domains.

You do need a "skill-set" at the end of the day, In order to apply several strings at once - so to speak. There are individuals on here that apply there abilities with SEO/building etc with their knowledge of "What works".

Fortunately for me it's a 'commercial awareness' that seems to be my area of "expertise". I just don't believe you can put it down to luck and timing anymore and certainly not 'Guess work'

 

[Edwin]

If you're good at developing and selling websites, why not stick to that? It's a perfectly valid way to make a return, just from a slightly different perspective than "pure" domaining. But the distinction shouldn't matter - the key thing is that you already A) sound like you know what you're doing and B) are making money at it

It's not clear that the path to riches will be any easier from a domaining perspective, since you'll be entering a very crowded market and competing against people with varied skill-sets, some of whom have a huge amount of experience in the domain industry already. I'd guess there's far less competition in doing more of what you're currently doing successfully!

 

[scwebsites]

Hi Edwin

I completely agree and I would never stop doing what I do. I'm just thinking about domains in a different way these days, and thinking I may have a go at buying and selling a few. There was time when I felt registering a domain you didn't want to build a site on was immoral lol.

 

[Whibs]

If you're good at developing and selling websites, why not stick to that?

Your skill set adds value to a domain, i reg/buy domains and sell them as i do not have your skills - I want to learn them as there is nothing better to prove the value of the domain you are selling than the project that works and the easiest way to get the right price is by providing that finished product.

Proving to a buyer that a domain has value is a lot easier when they see what they could do with it rather than what one says might be achievable.

Look at this competition to reg a domain and sell it..... admittedly it is just a bit of fun but regging and reselling is no easy job.

 

[scwebsites]

Perhaps I should try and work with some domainers who do not have web dev skills, work out a deal where I build and develop sites on their domains and take negotiate a cut of the sale price. Food for thought.

 

[lancsman]

scwebsites,

You could well be knocking at an open door on that idea.
I do not know how common such an approach is in these circles.

Development is definately my biggest weakness - no experience at all - and something I recognise I must address.

At the moment I am still learning and researching - with a few domain names I intend to registers.

The plan would then be to learn Wordpress to a level where I could at least put together something reasonable, that (as Whibs says) can demonstrate the value in a domain name.

I wish you well

John