How to Resell a Domain Name for Extra Cash

Making extra money in the domain name business takes patience and the ability to find and register sought-after website names. Registering names that become popular, or easy to remember, may bring in large amounts of cash. Often, having a name that a company desires earns extra cash to buy the next set of domain names that you can sell. Knowing what to expect when reselling domain names makes the process profitable.

Instructions

1. Determine the domain name that you want to register. Check on the registration site to see if the name is available. This also helps determine the demand for the domain name.

2. Decide if you want to sell your domain privately or through a broker. Private sales work well if you know the person interested in buying the domain name. A broker charges a fee, but also protects your investment if you do not know who is purchasing the domain name.

3. Set the price on the URL. Do not expect a million-dollar sale. Each domain has a different value.

4. List the domain name on an auction house site or with a broker to advertise its availability for sale. If you don't want to use a broker, invest in an escrow account to protect the transaction. Once a buyer agrees to the purchase, settle payment details and arrange for the transfer of the domain name rights.

Tips & Warnings

• Cybersquatting on a common domain name to get extra cash is seen as unethical and is frowned upon, but not illegal unless the name is trademarked.

• Be aware of scams and unethical buyers who want to steal the domain name without paying for it.