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So what is domain flipping? Domain flipping is the practice of buying website domain names and then selling them to someone else. The main goal of flipping domains is to make more money from the sale than you spent on your initial purchase. Flipping is popular in all forms of sales. For example, even moguls of real estate use flipping. Flipping domain names can be done as a side business, and that’s the nicest thing about it. The more you put into it, the more you get out of it, just like most business efforts. There are a couple ways to profit from the practice of buying and selling these domain names.
You need to improve your negotiating skills. A major component of being in business is learning to negotiate. The truth of the matter is that buyers will always try to get you to offer a lower price or to get more for the same price. Some of those flipping domains will not want to negotiate at all. We feel, even though this may be a valid position to take, that you are better off learning how to negotiation and bargain effectively. If you bargain with your potential buyers, or even merely agree to do so, you will improve your credibility in their eyes and thus increase the chances of you actually selling them something. You might even be able to use your negotiation skills to negotiate your way into a larger sale!
Appraise the domain name that you just purchased. Get an idea of how much value your domain name has by using the free and paid appraisal services. You may think that it’s a waste of time if you get a domain name appraisal. That is not the case. The main reason to get a domain name appraised is so that you have documentation supporting your asking price.
Possessing an appraisal makes it more difficult for people to argue about your price and say that the domain name is valued less than it really is. Thankfully, domain name appraisals do not have to cost a lot. There are even websites that will evaluate your domain names for free. Here you will all the info about Provillus.
Put your domain name on a website. Instead of simply keeping it, you can make a much larger profit if you can show that the domain name has been earning money. The truth be told, it is harder to sell a stand alone domain name than a website. Of course, building websites-even small ones-takes time. Instead of building a website for a domain name, it is easier to just leave it alone. Building a website might not be in your best interests if you are pressed for time. But on the other hand, websites do make more money than domain names. Selling domain names is a perfectly legitimate way to earn money online. Some people turn domain flipping into a full time business. There are others who keep it only as a hobby. You are in complete control of the amount of work and time you dedicate to this online earning opportunity. If you only want to make some extra cash that is fine. Conversely, it is definitely possible to turn it into a full time income!
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