- Welcome to The Journey!
Today we're gonna talk about
how to list domain names for sale.
Hey I'm Emma and today I'm joined
with our special guest Joe.
Joe, take it away, tell the viewers at home
what you're all about.
- Hi, I've been helping people sell domains with GoDaddy
for over 10 years and I'm excited
to help anyone who watches learn how to sell their names.
- So some of you might be able to relate to this at home.
You have a domain name that you no longer need
but have you ever been curious
about how much it could be worth if you sell it?
I mean think about it,
like you decide you no longer wanna have your business.
I remember my family went through this
when they had a cafe in Indiana.
You don't just forget about
all the things inside the business.
You could make a lot of profit off of everything
that made that business, the equipment, and sell it.
Similar to domains right?
- Yeah that's right and that's a great point to bring up.
A lot of times people think about their business
to sell that when they're done
but they don't think about the domain,
the digital property that they own and that has value.
Or you might have bought a name
and thought of a great idea that you wanted to get started
and get off the ground, like many of us do
and procrastinate and never do anything with it.
- Oh not me, I don't procrastinate at all.
What are you talking about?
- But that name might just be sitting in your account.
- Yeah.
- It's likely you're not the only person
that have thought of a great idea
that that name would be helpful for.
So why not put it up for sale?
People don't often think about the domains
that they have in their account that might be expiring,
that have value and they can list them and make money.
- I like that.
So how do you go about selling it then?
- It's really easy.
So if you have a name that you have with GoDaddy
you can do it right from in your domain control center.
There's an option to monetize it
and you can list it for sale.
One click of a button.
- [Emma] Awesome.
- It'll give you an estimated price
that you should sell it at,
you can click another button and put it up for sale.
- Oh so you can actually know
roughly how much you're gonna make before you sell it?
- [Joe] Right.
- And then you can make a good decision.
I like that.
I've done with my car before and realized,
oh yeah this makes a lot of sense to sell.
Now what if you're not a GoDaddy customer though?
Are there other places?
- Sure.
- Okay.
- Yeah, if you have a name that's registered somewhere else
it's just as easy to sell it at GoDaddy.
You can go to the auctions, or there's other companies
like sedo.com that you can go list your name, or dan.com.
So there's a lot of options out there
for you to list your name and most of them are very easy.
- All right, that sounds awesome Joe,
but before I even sell it, I wanna know,
I need some transparency here,
like how much is this domain worth?
Can I get those answers?
- Sure.
There's a couple of great automated tools that you can use.
GoDaddy has a valuation tool.
There's another company called Estibot, it's estibot.com.
- Estibot.
Sounds like a fancy name.
- It is, it's a fancy algorithm
and it tells you an estimate of what your name is worth.
And you can also look at a site called NameBio
and that has a bunch of historical sales of actual names,
so you can go look at comparable sales
and see if somebody had a name that was similar to yours,
what they sold it for.
And then you can also, you know, think about it yourself.
If it was your business you have an idea
of what kind of revenue that website was generating for you
so you can price it correctly that way.
- Oh that's a good point.
Light bulb, just realized what this reminds me of.
It's kinda like real estate right?
- [Joe] Right.
- So if you go to Zillow and you can see roughly how much
the house, your house, is worth
before putting it on the market.
- Yeah, that's exactly it.
If people think about their website as an address
it really translates over to real estate very well.
And when you look at comparable sales
you can look at sites like NameBio and see
not only similar names that sold,
but you can also see the dates.
So you can see similar timeframes.
- Ah, that's helpful.
- Just like on Zillow.
- Right.
- Where you could see, oh this house sold in my neighborhood
last week and this one sold three years ago
so maybe I should go with the newer, more up-to-date stat.
- Got it.
All right, so thinking back to my family's business,
the cafe, Emma's Cafe in Indiana,
I know the value of the business right?
That's clear.
And I know therefore the value of this domain.
- Right.
- But where do I go next with that
to know really where to sell it?
- So now that you know that your name's valuable,
you have an idea of how many customers come in
to your business and how much your business makes from that
and what it would be potentially valuable for other people
that have cafes to use that name for,
you can put a price on it.
And when you have a price you wanna go
and list it for sale somewhere right?
You wanna get it out.
- Yeah.
- The best way that I know to get it out there
is to put it on a site like Afternic
because what they do is they distribute that,
kind of going back to real estate with Zillow and the MLS.
When you list your house for sale
it gets distributed to all these other real estate agents
around the country.
Afternic distributes your name
to all these other registrars all around the world
so your name will show up on places like Network Solutions
or HiChina in China or Gandhi in India,
so you can list it in one place
and then it gets distributed all over the world
with the price that you set on it
and that gives you the biggest audience for buyers.
- Okay whoop, so someone anywhere in the world
could buy the domain emmascafe.com, my family's restaurant,
but does that mean they're then committed
to opening the business, Emma's Cafe?
- No, no not necessarily.
Domains have value in and of themselves.
So just like real estate,
where somebody might invest in an empty plot somewhere
that's close to the beach.
- [Emma] Ah, yes.
- Or good foot traffic, they might buy your name
knowing that it has value for other people
who want to open a cafe.
So just like there's real estate investors
there's domain investors, and they see names with value
and they'll hold those names and sell them to other people.
- That makes a lot of sense.
I always wish I had that knowledge,
especially living in southern California.
A few of my friends, they are in real estate,
they got ahead of what neighborhood's gonna be trendy
before it's trendy.
Buy that plot, it's worth more later, same with domains.
- Yeah it's the same thing.
People look all day long.
Some people make their living buying and selling
domain names by finding value that other people don't see.
- That's a wrap.
You just learned how to list your domain name for sale.
Joe, thanks for being here.
- Thanks for having me.
- Awesome, be sure to comment below, like this video,
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This is The Journey.