Just like the song, ‘The Gambler’, domain name offers are indeed just like playing poker. Take into consideration, you get an offer on a domain name you own. In fact, the offer might blow you away at first. However, you get a little greedy and think it’s work more than that. As a matter of fact, you call their bluff and counter with an offer twice what was originally offered. As a result, the potential buyer walks away and is never heard from again.
Being that you didn’t take that first great offer that would have made you a nice profit, you’re stuck. To put it briefly, you now are holding onto that domain name for five years now. In short, you have paid $10+ in registration renewals, on top of the initial $7 to register the domain name. So you’re essentially in the hole for about $60 when you could have sold that domain for about four figures five years ago!
So how can you avoid this blunder in the future? Take a look at these bullet points that spell out when to hold and when to sell on those domain name offers.
- You aren’t going to build out a website project for that domain name, so a reasonable offer should tell you to sell.
- Be realistic. Case in point, you paid $7 to register the domain name, and you are offered $250, you should sell. UNLESS, the domain name phrase is trending and will likely continue to do so. Then you should field some other offers. If nothing comes along that you like, go back to the original offer and counter with a reasonable offer.
- No two domain names are the same. If you look at recently sold domain names and you register something similar, it doesn’t mean you’ll sell it for the same price. You need to take into account the keywords, and the way that domain name is structured that make it so valuable.
In conclusion, if you get a reasonable offer on your domain name, you should consider selling. To put it briefly, if you think their offer is low, ask around and get a domain investors opinion. As a final point, you can even check in with the discussion board at namePros and ask around.
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