10 Tips and Strategies in Buying Domain Names

An effective domain as a general rule must be easy to say, spell and remember. The only thing that's not easy is buying domain names which is rather quite tricky, where you may stumble across many downfalls while trying to secure one, especially if what you want is of premium worth. You don't have to learn it the hard way with the aid of these highly valuable, proven negotiation tips already streamlined for you:

1. Find out who the original seller is and do your research

When you see a domain name that you like to acquire, use whois records to check for contact information of the registrant. You may also check if the domain is being indirectly held through a legal or holding firm. The firm or trust may forward your interest to the real owner, or provide contact details when you ask them.

2. Take a quick look at the website to determine your approach

Check out the website in a browser and see what is displayed. It can show a fully-developed site that already belongs to a company. In this case, it is best to move on and search for alternative names. Sometimes the page will show a 403 or a 404 error, which means the owner has not put up any content or a web page. Other times, the website will prominently display a "not for sale" banner, or a sign that says "this domain is for sale". This is a good signal to proceed with the negotiation.

3. Widen the net and consider alternative domain names

You may have to be flexible enough in the case that acquiring that specific domain is simply not possible. Maybe the owner does not wish to sell, or maybe the owner wants an impossibly high price for it. Getting a domain name that varies slightly, a plural version, or other different terms may also work fine for your purpose. You may just find a great alternative domain name for just a fraction of the cost.

4. Check profile availability in social media

Your soon-to-be domain will be your own distinctive brand. Therefore, it will definitely need to be connected with social media platforms which are the perfect places to promote your name. Ensuring that the profile is available in big impact services such as Facebook, Twitter, Linked In, Instagram, and Pinterest will give your company much more recognition.

5. Decide on your identity: Hide or Reveal?

Now this step entails your discretion on what you prefer. Primarily, owners of high-priced domains most likely get tons of inquiries including blunt emails. Hence it is preferable to make an impact by being unique and genuine to be a better candidate of closing the deal. Some prefer to hide their identity, maybe for being famous or any other reason, but the best course here is to do it instead through a lawyer or broker to remain anonymous, rather than give the seller the impression that you are trying to be discreet in a way that impacts the negotiation.

6. Start off negotiations with a reasonable offer and be professional

Owners may just ignore you if your initial contact with them starts with a low-ball offer. It insults the seller and you will never get a chance to make a higher offer. A fair deal for both parties is the best way to start things off, and this shows the owner that you are serious in buying the domain.

7. Be patient and do not rush the deal

Purchasing a domain name takes time and effort. Do not be frustrated if the initial offer is countered immediately. As long as there is an open line of communication, there is still a chance to close the deal. Agreeing upon a mutual price is an art and there are many other factors to consider. Do not be afraid to walk away from a potential deal and try to check in with the owner again- they may have changed their mind and agree to your price.

8. Set out a price range for best results

A wide price range gives lots of room for additional negotiations rather than a single price. The owner and seller will appreciate it and they will be more comfortable in considering what their domain price truly is worth. This is a great tactic to try, especially in the domain name market to get a feel for what the seller thinks the domain is worth.

9. Talk in person or over the phone

Email communication does bring great convenience, but can convey disparate messages and give words various meanings. Talking face-to-face or speaking over the phone, if the seller permits, makes it much more personalized and let you have a better approach. This way, you would also somehow understand the seller's motives and the factors behind the domain price.

10. Secure the deal before proceeding with the transaction

Once you both arrive at an agreement with the price, the next step will be to ensure your protection. A domain name is a virtual sale and you may want to have something tangible to have the transaction covered. If politely asked, surely you would be able to come up with a purchase agreement and go through utilizing a secure service for wire transfer.

Having the essential negotiation skills in buying domain names altogether make a worthy investment, since now you've got what it takes to come up with a great deal. The knowledge you acquire turned into efforts will get you that premium domain which will pave the way for people to find your brand. This allows you to build an established virtual presence, giving you a perfect jumpstart for a successful start-up.