BY AURELIA MITCHELL DURANT Globalization has become a reality for the planet. The very loose and fluid definition of globalization is summed in an often-quoted quote by former Secretary-General of...
Originally posted 2016-07-18 14:48:44.
By Toshia Smith | www.amdlawgroup.com
In an interview with Flippa.com broker Ali Zandi, the domain seller explained how Flippa works and how the ordinary consumer can navigate the domain name market. Zandi started out as a novice domain seller earning a couple thousand in revenue. He then found his way to the title of senior broker at Flippa based on his successful portfolio that reached around $400,000 in revenue just a few months later. Based in Hawaii, Zandi is also the founder of the domain name blog Zandibot.com. Through the course of the interview, Zandi provides tips and techniques domain sellers can employ to reach their highest potential profit through Flippa. Flippa can be described as a market for the buying and selling of domain names; the Ebay for websites, if you will.
Zandi states that he would start off as a domain seller by limiting himself to 10 to 20 domains that he had to sell within 30 days. This ensured that he did not stretch himself thin in the market and that he would reach maximum profit by focusing on those domains alone. In total, Zandi has sold around 300 domain names and puts his profits well within six figures. He describes it as an entrepreneur’s market, as digital real estate. Like a normal retail store, buyers on Flippa are diverse. Though buyers are most likely investors, some are quite often the average joe. The domains are priced according to the market.
Zandi offers some advice in stating that .io domain names sell well because, in the tech world, .io is synonymous with computer programming. He states that the biggest job of a broker is to find the right seller, one who is reasonable enough to sell for a profit. He has to constantly negotiate with sellers to bring them to terms with the reserve they are willing to sell their domain for in order to make a profit. What differentiates Flippa from other domain name sites is that on Flippa, it is much easier to get visibility to buyers. However, a broker must remain an active seller by reaching out constantly to the market.
In the course of the interview, Zandi gives a tutorial on how to sell on Flippa. As opposed to other domain marketplaces, Flippa allows sellers to write sale letters and descriptions. He explains that the more words placed in the domain name, the more limited its use. For example, a domain name of CheapApartments.com is more limiting than Apartments.com. Users of Flippa may also negotiate post auction with buyers and bundle domain names. Furthermore, not only can users watch auctions, but they may also “follow” sellers to see what strategies successful sellers are employing.
Image Link: http://gossipminds.com/finance/the-advantages-of-selling-domain-names