The buying and selling of domains can be a lucrative business for some people. If this is your first time purchasing a domain from the owner, you need to understand the process to avoid making mistakes that could cost you money.
1. Be Confident In Your Decision
Purchasing a domain from an owner is usually done when it is a domain that his highly sought after or the domain already has significant notoriety and traffic. Since the cost of these domains can reach thousands of dollars, it only makes sense to be confident it is a domain you truly want for many years. If you simply want the domain and do not have realistic, long-term plans for the domain, such as operating a store or taking over ownership of the website, the purchase may not be worth the investment. Additionally, if a domain name is popular and you want to revamp the same, such as connecting the domain to a different type of business or re-branding it, you also have to consider whether it will hurt your business ventures.
2. Think Twice Before Buying From The Owner
Buying a domain directly from an owner has several risks. Ultimately, a successful purchase will mean there is less money spent on fees, and it is more attractive to the owner because they can make a better profit. Since there is always the risk of being scammed, you should do everything possible to protect yourself. When you contact the owner, attempt to contact them via the contact information listed in the WHOIS registry.
In many cases, this information is kept private, so you might want to use contact information on the website, assuming the domain name you want has a website. If you are able to communicate with the owner and strike a deal, only pay through reputable third-party, such as PayPal. Both the buyer and seller have protection, so it is a favored channel for any business transactions. Make sure you keep any correspondence with the owner, so you have a record of your conversations.
3. Consider A Domain Broker
A domain broker will give you the best level of security when purchasing a domain from the owner. Since the broker works on your behalf, you will need to pay a non-refundable fee. The fee is non-refundable since they cannot make any guarantees about the purchase. In some cases, the owner cannot be contacted by the broker or the owner may not be willing to accept your price.
Buying the domain through a broker allows for a secure transaction, so if you pay for the domain, you can feel confident you will successfully have the domain transferred to you. Although the costs associated with a domain broker will be a little higher than attempting to purchase the domain on your own, the added peace of mind is well worth the price.
Buying a domain from the owner can be worth the expense and effort in some cases. Using the appropriate channels for a safe transaction can help you avoid significant losses. For more information, contact your local domain name services.