Do You Make a Living At Domaining?

[Poker]

Not luck, just skill. There is no such thing as luck.

Actually there is, it's just not a business model.

 

[atomic]

Misunderstanding initially...I apologize...

 

[hugegrowth]

For me it's a side business, nowhere near full time. If you have the right domains it could be full time, but I don't think there are many full time pure domain sellers. Even the big guys run registries, get a piece of a business with a domain sale (Candy.com), have websites (PalmSprings.com), or generate good income from domain blogging.

The bulk of the offers on my domains come in at $50 to <$1000. Most people want to pay that range, no matter what the domain is or how perfectly it suits their needs. Whether you accept an offer depends on a lot of things, do you need the money, do you feel the domain is really worth more, etc.. One general rule I have for myself is always counter offer with a higher price.

If you have the time I think it's valuable to learn to build webpages and sites, even basic ones. There are lots of site builders out there that are easy to use to build small to medium size information websites, for example. Blogger.com and Wordpress are easy ways to start blogs or can even be used for websites. Pick a topic you are interested in that way you will more likely stay with it. It also helps if your topic will appeal to a large audience or an intense niche audience, and is a topic that is somewhat commercial (so you can generate income with something like Adsense). Also, if you can put your energy into one project and do really well at it, as opposed to starting up many different websites, that is also a good idea, though hard to do.

 

[hugegrowth]

Forgot to add, even as a side business domaining always offers the potential for a full time or one time big income. Sometimes the stars can align for you if you've made some good decisions, or just gotten lucky. Look at the recent Whisky.com sale, where the broker earned a $300,000+ commission selling a domain that wasn't even his. I bet if you'd told him two months before that he'd earn six figures in 2013 with domaining, he wouldn't have believed it.

 

[Zenchi]

Thought I'd give a crack at answering your questions, I'm bored and up late editing invoices for the month.

1. Are you able to sell enough domains that you do not need to hold another job?
Yes I sell domains full time and now have my own small team. Originally I started like many quite "late" around 06/07 however I was not interested in buying domains for $20 flipping for $500 not that I would pass up the opportunity even today. I invested $X,xxx and researched my first domain purchase and then flipped it for 5 figures within a month. From that day I was sold that this is what I wanted to do. I still buy and sell my own personal domains but I find brokering a much more fulfilling option and this is my focus and what my business is set around. Being able to work on premium domains worth from 6 figures to 7 figures and secure sales for clients is exciting and enjoyable and it never gets old.

Making contacts with corporations and interesting individuals along the way being able to speak to people like Steve Jobs prior to his passing on a deal and CEO's of Fortune 500 companies is quite an experience and then to have them place you on their cell for followups feels great. Also sometimes I may choose to wake up at noon it's my own schedule

For my clients who hold greater premium domains that sweet spot can be entry low-mid $xxx,xxx to $1,xxx,xxx depending and it's a different ball game with commissions at 10-15% which is consistent life changing/job quitting funds for many to change occupation. Situations like the Whiskey.com sale happen a lot behind the scenes behind pesky NDA. With a good accountant, patience, knowledge of stock/dividends you can make your earnings that much better *wink*

2. In your experience, do you sell a higher number of hand reg domains in the $300-$600 range, and just try to sell more of them, rather than hold out for higher prices?
I avoid hand reg domains unless it's a diamond in the rough that dropped (and expired) this happens now and then and I've registered and intend to flip for at least $x,xxx. However my focus when it comes to ME acquiring domains to flip the quality must be fair and I need to believe it can sell for at least $10k or it's not worth my time. Still profit is profit if you buy for $30 and resell for $1000 within a few months even weeks you've got the touch.

For a newbie in my opinion the aftermarket is a better choice then going the hand reg route. Try to purchase quality names to resell high. Now how should one define "quality" well I'd be writing another novel to go over that and it would only be an opinion.

I have found $5k-$10k to be the sweet spot for many small medium sized companies if you investigate your targets long enough you'll see the trend. Many newbies seem to start very low and then get caught in the $100-$500 area again and again using it to buy more low end. Investigate your potential buyer more and work on negotiation skills for a higher reward. I stick to .com/net.org and 2 cctld's I'm comfortable with and prefer to buy "dropped" domains for backorder.


3. Do you think it is critical to develop sites? If so, would it be hard for a non-techie person to learn and how long do you think it would take?
I think if you are willing to learn development skills it can benefit your portfolio in the long run and at least earn your renewal fee per year and some spare change. Learn at least the basics as others have stated and much information you need out there is freely shared. I feel if you dedicate enough hours of your spare time you will be able to grasp the basics in 1-2 months and some services out there make it easy to bypass knowledge of deep coding thanks to word press etc.


To add;
I truly believe newcomers would do well to come in with a little money before hand, take some time to see how this business works and all the different cogs you can choose to oil. There's a lot of misinformation and just general bad advice that will have you stuck with 100 bad domains that you end up pricing for $100k and in the end leave you with a hobby that has you in debt.
Take a look at DNJournal (especially the weekly sales and not just the top 20), Read the forums read domain blogs and see if you can see what it takes to be a mover and shaker in this business.

Consider how much you want to invest to purchase some quality names not random hand regs. Avoid the .new gtld trend you'll see it again and again and you will lose money.

Know when to get out if this is not for you. It takes money to make money in this business and time but after awhile if you are not seeing results you need and don't even know what you're doing wrong maybe this isn't for you. Don't quit your 9-5 until you are convinced you are ready to commit and have made consistent BANK and even then maybe you shouldn't quit HA until that "day job" is becoming an annoyance and getting in the way.

Best of luck with your continued journey.

 

[catchmesleeping]

1. I'm in growth mode, so I use income from sales to buy more domains Eventually I'll slow down, but this is not my primary source of income. I view it more like investing for the long term. I'll think about cashing out in 10 to 20 years.

2. I think it's important to get some sales early on, to validate that you're selling names that other people value. Domain transactions are pretty rare. Depending on the strategy they follow, domain investors might sell between .5 and 5% of their portfolio in a given year. If you have a 1000 domains, that would be between 5 and 50 sales. If you have 100, you might go a couple years before making a sale. When you're just starting out, I think it's really unhealthy to go too long before making a sale. You start to question yourself, and the strategy that you're following - so I would recommend taking some sales in the $300 to $600 range - especially if you were able to get them through hand-regs. You can then turn around and buy more names like the one that you just sold, and build up your portfolio that way. But, in the long run, you'll want to shoot for $2,500 and above with "make offer". Eventually the right buyer will come along who absolutely 'needs' the name you have. If you can handle the negotiations, that's where you'll make real money.

3. I minimally develop all of my names. Just a single page of content, including a "for sale" sign, on one of about 10 different templates that I reuse. I invest about 30 minutes per domain on this process. For me, it works better, however, I really can't say that what I'm doing is the best strategy or not.

 

[dcmstreams]

No, no, I joined DNForum September of last year. I have been domaining for years About 2 years full time and buying domains for about 4 years.

Not luck, just skill. There is no such thing as luck.

 

No, no, I joined DNForum September of last year. I have been domaining for years About 2 years full time and buying domains for about 4 years.

Not luck, just skill. There is no such thing as luck.

Teach me your skills!!!

 

[ulterios]

I definitely don't make a living at it myself. Making enough money to do it isn't my problem. I tend to buy or register new domains with intent to sell them, but then I start getting ideas to develop them into websites.

If I can get to the point of not getting all caught up in building sites, then I know I can. It's just a matter of getting that mindset.

I do tend to take on more projects, tasks, whatever, than I have enough time for. I would like to dedicate more time to domaining as it can be less demanding then trying to build a couple dozen websites and do everything that's needed with the.

 

[showdown]

I am new in domaining. As a self-employed, I hope soon to be able to make a living at domaining.

 

[ulterios]

I am new in domaining. As a self-employed, I hope soon to be able to make a living at domaining.

It's definitely possible to make a living from domaining, you just have to work hard at it.

Many people think that domaining is easy to make a good living off of. It's not as easy as people who aren't in the business or who are new to it think it is. It take lots of constant work, research, promoting, contacting, etc.

You can do it, but you just have to work at it.

 

[stuff]

It's definitely possible to make a living from domaining, you just have to work hard at it.

Many people think that domaining is easy to make a good living off of. It's not as easy as people who aren't in the business or who are new to it think it is. It take lots of constant work, research, promoting, contacting, etc.

You can do it, but you just have to work at it.

who do you promote? and who to you contact?
thanks

 

[ulterios]

who do you promote? and who to you contact?
thanks

Not who but what to promote. If you have domains for sale you can promote them by letting people know that they are available by getting the word out/promoting them. You can do that through social media, the domain marketplaces, developer/designer/domain forums and other websites.

As for who you contact, that would be prospective buyers. People who have a similar domain name, companies and/or people that might be interested in the domain you have. You can also contact people who have websites but have a poor quality domain and tell them you have a better one available. There are many things you can do.

 

[Dushan Savich]

1. Are you able to sell enough domains that you do not need to hold another job?

I am a full time domainer. I can live off of just domaining.

2. In your experience, do you sell a higher number of hand reg domains in the $300-$600 range, and just try to sell more of them, rather than hold out for higher prices?

95% of my sales are in this region. Domains are a commodity, and trade in the sub $1000 region presents the bulk of domain sales. I can not afford to just pick some premium domains and wait. Just like with any commodity there are long term and short term investments and I do quick flips. Hats off to everybody who got in early, but there is money in "medium quality" domains and its what realistically the majority here do. Very few of us here own premium domains that will sell for six figures.

3. Do you think it is critical to develop sites? If so, would it be hard for a non-techie person to learn and how long do you think it would take?

Google is out of the equasion for me, I just flip domains, the effort I would put in to developing a domain name would bring me more money if I focused on just flipping domains.

 

[DomainManner]

1. No. But I'm not sure I would want to do domaining full-time.
2. It depends on your portfolio. If you have premium domains, you will want high prices but there will be fewer qualified buyers. If you have average domains, you will price them accordingly.
3. No. Selling domains is completely different than making websites.

Very few domainers are making a living on domains. In fact, the majority of domainers are losing money.
This is an extremely ambitious goal. Those who actually make a living on domains either started early or they have been doing it for a long time, they have amassed large portfolios (quantity + quality) and scaled up.
They also share a common trait: they have worked hard and they are very dedicated.

I think it's not a real job, it's an investment. It's probably easier to make a living on stocks but it's not for everyone. It's the same with domain names.

very good advice to every domainer. most of the domainers are losing money. try to think about that you registered a bunch of domains which cost a lot of money. but you have to wait them to be bid by the passers-by. they would like to give a lower price that what you wish and probably leave away. most of the money and time would have to be a waste in the end.

 

[TheLegendaryJP]

Yes
No
No