In the last 3 years, the market for domain brand names has gone down a bit and people are no longer making the money they were before the economy took the dive of 2008. That does not mean that you can’t make money off domain names anymore. It only means that you will not be making as much… right now. Making money with domain names is still possible now.
Patience Is The Name Of The Game
When it comes to making money with domain names you need to have patience. A domain name may be sold within a couple of months after you bought it, but in reality unless it is an amazing domain name you will probably have to wait a little longer than that. Some domain names may take a little longer to sell than others, but you should not become frustrated by it. Park your domain, let people know that you are selling it and wait.
Have A Vision
So what are the things you need to start making money with domain names? You need patience as stated before. You will also need to have a vision of the potential of the domain name. When you start looking for domain names you should consider a few things like length of the domain name, characters that you use (including number), potential branding and the important question of “does it make sense?”
Making Money With Domain Names Using Forums
You also need to tell people that your domain name is for sale. How will you ever start making money with domain names if people don’t know that you have those names for sale? That means that you have to start working on getting the word out. First you should start visiting forums that have to deal with domain name ownership and sales. These forums will give you an idea of the value of your domains (don’t always listen to appraisals because not everyone is an expert) and you can also let people who are buying domains that they are available.
You could also visit websites that have to deal with the topic on your domain name. A lot of people are looking to get on the web and will jump at the opportunity to have a great domain name. In order to start making money with domain names this way, make sure that you leave a comment or start a tread telling people about it. If you have a good appraisal, then mention the appraisal amount and inform that you could part ways with the domain name for less than that.
Park Your Domain
One of the best ways to get the word out and make money at the same time is to park your domain. If your domain name has some residual traffic and you publish on forums, then you could start making money with domain names right away. Do not expect a big pay day from parking your domain name although you will make the reg. fee back in no time. Some websites like Sedo and Namedrive will park your domain and place it for sale. You could also build your website and place some ads on it while it sells.