How to Sell Domain Names on GoDaddy
GoDaddy is the world’s largest online domain registrar which allows you to buy or sell your domain names. Before understanding the process of selling domain names, first, we need to have a basic understanding of the domain names and their importance.
Domain names are the names of your website, For example, www.YourDomainName.com. Every name is unique and different from each other. It not only labels your idea or dream, but it also makes people understand your business. The importance of having good domain names which can be memorized and learned easily cannot be denied by anyone.
Domain names should be easy and interesting having the potential to attract people to your website. They should be simple enough so that a common person can memorize it very easily.
With 17.5 + million happy customers and 76 million domain names GoDaddy is the world’s largest domain name registrar. Headquartered in Arizona it has more than 6,000 employees. They are a world leader in providing domain name buying, selling and web hosting. GoDaddy has become a popular name among small and medium businesses because they cater well to their needs and demands.
If you want an interesting, easy and unique domain name you can log into the GoDaddy website and purchase names according to the metrics you desire based on the public demand, and budget. The possibilities are almost endless now because of the new domain extensions. But if you are wondering about the process of selling domain names at GoDaddy then let’s understands the complete procedure for selling your domain names.
GoDaddy Aftermarket Overview
Domain aftermarkets are essentially the secondary market where domains can be sold and purchased after they have been deleted, dropped, or have expired. These expirations occur for a number of reasons, but no matter what the reason may be they are all related to the owner simply not renewing the domain name again.
Although I focus primarily on the domain names themselves, others try to snag domain names that have good search engine optimization ratings. These domains can have great metrics such as trust flow, domain authority, and page authority. When searching on a website like ExpiredDomains.net you can filter it to find only the highest quality names with great metrics.
The GoDaddy aftermarket domain platform hosts auctions for the reselling of domains for customers with an aftermarket membership. You can get a membership here for roughly $5. If you’d like to get to this page manually through your already established GoDaddy account you can use the following steps. When you open the GoDaddy website, you need to click on the domain category which will open into 4 sub-branches like Find a domain, Domain services, Auctions and Domain Investor Tools. The auction category includes next 4 subheadings i.e. Domain Auction, List a Domain, Tools, and Pricing. You need to click on the first category i.e. DOMAIN AUCTION and sign up for becoming an Auction member.
Once you become a member you can search for your own choice of domain names, for example, GoodIdea.com. When you type these letters in the search box you will be shown a list of domain names that are available. Sometimes the exact match .com that your searched for might be taken, but the website shows you a list of similar domain names matching your search criteria, or at the least containing some of the terms you may have searched for. You can get a match for your search like GoodIdea.co for example, in place of GoodIdea.com. Be aware that there is a very big difference in a .co and a .com domain name. Most people within the United States tend to think of .com as the domain extension by default when they hear about a website. Additionally, there is a possibility that GoodIdea.com could be available in the aftermarket via buy it now, make an offer, or an ongoing auction.
If the domain name is at auction the amount of time left for the auction to end is shown on the left-hand side besides the auction details. It’s always possible that more individuals can join into an auction. Therefore, you have to be quite aware of how many bidders are involved, and how much time is left in the auction before making a bid.
The Auction page also has the POPULAR SEARCHES box where you can choose from various options like featured, Most Active, Expiring, Ending Soon, Fixed Price, Closeouts and Bargain bin which allows you to target the domain names according to your needs and choice. You can also fix the number of return results. For example, if you want to want search result to come within 50 numbers, then you can set the option at 50. I have other articles about how to find domain names if you’re looking for that.
LISTING YOUR DOMAIN NAME
Once you have found a domain that you think you can flip for profit it is time to consider listing your domain names for sale on GoDaddy. In order to do this you must be a member of the auctions aftermarket. In this section I’ll cover how to sell domain names on GoDaddy.
- First, login to your GoDaddy account and click manage domains.
- Secondly, select the domain name from your list.
- Under the Buy and Sell tab click on the GoDaddy Auctions Listings.
- Next, select List a Domain and select the Listing Type on the right.
- After that I recommend selecting the Premium Listing option.
- Choose your price and confirm the listing.
Note: It may take some time for your listing to appear live. Normally it takes a few hours to one day.
LISTING TYPES – You can choose the type of auction you want to set for your domain name. If you want to attract more buyers then choose the premium listing with a make offer type of listing. I personally do a lot of buy it now auctions.
MINIMUM OFFER – Set the amount for your domain name that you want in any case.
CATEGORY – The type of category you want to use for your domain name.
DESCRIPTION – Add the details of the listing.
- Select from the 2 types of INCREASE VISIBILITY option.
- Select how you’d like to receive payments for your listing.
- And finally, read the terms and conditions and if you agree with them select I have Read and agree click FINISH
As mentioned above the moment you confirm your domain name to be listed on GoDaddy page you would be asked to select the type of listing for your domain name auction. For getting more customers for buying your domain name you can choose the PREMIUM LISTING option.
You need to pay a different commission rate to GoDaddy for your premium listing depending on your final sale price.
According to the company, your payment would differ and depends upon several factors.
What are the Rates for Premium listing?
First, you need to know that all premium listings on GoDaddy are treated equally and measured at the same level.
Here are the rates:
- If your sale price of the domain name would be under $0-$5000 then your commission charges (CC) would be 20% of the amount or a minimum of 15$.
- If your sale price of domain name falls under $5000-$25,000 then CC would be $1000+15% of the amount over $5000.
- If your sale price of the domain name is over $25000 then the CC would be $4000+10% of the amount over $25000
THE PAYMENT HOLDING WILL TAKE AT LEAST 5 DAYS + USUAL TIMEFRAME FOR TRANSFER OF PAYMENT. IT WILL BE PAID THROUGH PAYEE THAT YOU HAVE CHOSEN AT THE TIME OF FILLING DETAILS. For example, it can be paid through a PayPal account.
There are other options like Electronic (ACH), Good as Gold and Check other than PayPal through which you can be paid for your domain name sale. All payment will be processed the same day excluding checks as it will take around a week to get processed and will be remitted in 1-2 days. I personally use PayPal for my payments when selling domain names
You also have to take note of the fact that if your payee account has a non-US address then it can take more than the usual 5 days. The 5 day rule is applicable only if you have a US address on your payee account. The Non-US account created after June 2014 will have a little different procedure of getting payment.
The rates for domain name auction @ GoDaddy
It will differ according to the sale price of the domain name.
- For under $5000 sale the rates would be same as mentioned above and payment holding period will differ a little. It will take minimum 5 days to 20 days (if the registration details are pending).
- For above $5000 sale, the difference lies in payment mode, which will be done through Escrow.com.
For those of you who do not know, Escrow.com is easily one of the most reputable services for securely doing transfers on the internet. If you ever wanted to sell directly to someone and avoid the GoDaddy commission fee you could do this directly through Escrow.com.
All the payments through GoDaddy and Escrow.com will be released after 5 days i.e. on 6th day and for PayPal and Good As Gold account, the fund release takes around 5 days.
How can you pay instantly and hassle-free using PayPal?
Follow these steps:
- When you are at the checkout gate after your purchase, click Proceed to checkout showing tab below the shopping cart.
- Log into toy our PayPal account, select your PayPal payment method and click Continue.
- Review your order and click place your order.
All of the backend process will be taken care of by GoDaddy. You do not need to worry a bit about your payment through PayPal. This option has been provided to make your purchase a hassle-free process and give you the experience of other regular shopping by you in your everyday life. The process of transferring the domain name from your GoDaddy account to a winner bidders will also be taken care of by GoDaddy as well.
This is a basic overview of the details of your purchase and sale of domain names on GoDaddy website.
The other important thing that could make your experience far better would be using search tools to find awesome domain names to resell in GoDaddy’s marketplace. I personally do this and teach how to do this in my domain course.
ExpireDomains.net is an amazing free tool to help you find your choice of domain names. But before we dive into learning about this tool, let’s go over a basic understanding of the domain name expiration process.
Why and How Domain Names Expire?
Whenever you purchase any domain name for yourself, it comes with an expiry date which needs to be renewed regularly before that expiry date. In general the standard time for you to renew a domain name is one year after the purchase date. If you do not renew your domain name before that specific date it expires automatically and becomes available for resale to other individuals in aftermarkets.
There are various reasons a domain name expires and one of the reasons as said above is non-renewal of the agreement. The others could be owner forgets about the renewal date or that they simply do not renew by choice because they no longer want, or have a further use for the to use that domain name. Some people forget to start the automatic renewal option and by mistake, their domain name expires. Some switch off the regular notification option and again do not get notified timely about the date of expiry and domain name expires. Other domains sometimes expire due to the death of the previous owner.
Regardless of the reason, every day tens of thousands of domain names expire. Many do not want them and they can be relisted for auction or sale. Expired domains could be of immense use if you know the value of backlinks and SEO. The other reason for choosing them could be if you think that is relevant to your website and if they were not used previously as a spam site. Many expired domain names are extensively used for SEO campaigns.
How Search Tools on ExpiredDomains.net can Help you Find Awesome Domain Names
This tool gathers all the relevant information for you that you need to find great domain names for yourself. It uses the domain extension and allows you to search from hundreds and thousands of domain names before they get listed or released for public. This way you can have the upper hand for purchasing domain names of your choice before any others get to see them. Essentially, you are competing only against others who search for expired domains regularly who happen to like the same names as you do. ExpiredDomains.net supports 388 TLDs (from 1000 TLDs) like .Com, .Net, .Org and many more! Within my course I go into depth about utilizing search features to sort more thoroughly.
Once you acquire these domain names there is a waiting period for them to go into your GoDaddy account. Usually this period takes around a week or so. After that, you can place them for auction within GoDaddy’s auction marketplace and begin to actually earn a handsome profit by reselling the expired domain names!
TIPS TO SELL YOUR DOMAIN NAME
Have a realistic approach towards price expectations – whenever you put your domain name for sale try to have realistic expectations of what you could actually get for it. Expecting a high rate of return is good, but an over-expectation could lead you towards disappointment. This is something I see regularly within the domain name industry, and it is a big problem that leads to many people giving up. Always try to put a realistic price tag on your domain name and soon you will start to get offers and sales. I truly believe that sometimes taking slightly less and getting sales more consistently is better for your mentality in this industry.
Be active on GoDaddy’s platform or marketplace – it should be your duty to be active and aware after you put the domain name for sale. You need to continually check the details and respond to inquiries once you enlist the name for sale. Though you would be informed regularly by the GoDaddy’s side whenever you get a new offer or whenever you have new updates, you need to be self-aware and active on the platform. This will benefit you in the long term. Keeping track of expiration dates is also important as well.
You cannot list domain names which are expiring within the next 90 days. So be aware before listing your domain name on GoDaddy marketplace. At this point it is best to opt to sell on places like NamePros and eBay if you’re looking to avoid letting it expire and not getting anything for it.
Other Benefits of Selling Your Domain Name Through GoDaddy
GoDaddy provides helpful videos, answers to specific questions, and customer support. You can see the short videos on how to sell domain names or how to use your domain name to create an email on their website for example. If you are confused even after reading multiple sources for selling domain names on GoDaddy’s marketplace you are not understanding the process then you can also reach out to GoDaddy’s support agents via live chat or phone.
Join the discussion groups – You can connect with the hundreds and thousands of customers who are engaged in selling the domain names. If you are not convinced, if you have any doubt or you just want to have a meaningful discussion with any of the clients, then you can approach them very easily and just with a click.
24/7 customer care service – If you face any confusion or face any difficulty while selling your domain name, then you can pick your phone and dial the customer care number anytime and from anywhere. Their award winning staff would clear any of your doubts. The customer care service of GoDaddy is the best in business so you can rely upon them easily.
Articles to help you buy your domain name – Even if you buy a domain name instead of selling it, then you would get different articles that explain the easy process to choose between different of domains and help you choose your own best domain name. These articles are reader-friendly and can be understood by any man.
Various tools to help you sell your domain name – As explained above, you can use search tools such as ExpiredDomains.net to find the best possible available domain names to purchase for resale. Tools like Auction API, Auctions FTP Site, Multi-Bid Tool and Daily Gems are present on the GoDaddy’s website to help you through your domain name sale. For more information on the tools, you can contact the customer care service and find the usefulness of these search tools.
Commission charges are lowest – GoDaddy makes the selling of domain names very easy and very affordable. The commission fees are among the lowest in the business and it makes your listing of domain names possible under your budget. Additionally, you do not have any upfront costs when listing your domain name unless you want to add in extras to increase the potential of your website selling. This makes the auction marketplace a great low risk, high reward type of strategy.
The commission fee is probably the biggest factor in selecting your reseller market for your domain name sale. With 20% or more of your total sale being ate up by this fee it is important that you factor an additional 20% into your prices when listing the names for sale so you’ll actually get what you’re comfortable with when the domain sells. The big benefit of using GoDaddy is that they also take care of the transfer and escrow process for you. This makes the selling aspect quite passive once the domains are listed initially.
- GoDaddy is the largest online domain registrar and web hosting site.
- You can purchase or sell domain names by signing up for the auction membership and logging in as a member of the site.
- Selling domain names on the GoDaddy marketplace is fast and easy.
- You have to become a member and log in to the platform for putting your domain name for the sale or bid on domains that are currently for sale.
- You need to fill up the basic details on the page like Listing type, putting domain name, confirming it and then choosing the category for auction.
- A premium listing can attract customers quickly and easily and help you to get the expected price for your domain name.
- You will need to choose the payment receiving option account. A PayPal account can easily be setup and used for this stage.
- Lastly, you need to read the terms and conditions carefully and the press the FINISH button to have your name go live online.
- At this point, you will now have successfully listed your domain name for sale.