And the domain name will end up sitting dormant in your registrar account for months, years, or even decades alongside an often growing family of other, unused domain names. These domain names don’t have to stay dormant; starting up a business is incredibly scary, but achievable.

Other reasons for owning unused domain names could be that you retired from or closed a business, decided to stop updating your blog or personal site, or acquired other companies over the years, with their domains.

If so, you’re probably wondering if these domains are worth anything to someone else and if yes, how you can sell your domain names?

A lot of you often see the need to register Domain Names whenever you have a great idea for a start up item, business, project or blog. But these ideas often never transcend into actual works.

STEPS IN SELLING A DOMAIN NAME INCLUDES:

* Determining the value of the domain name.

* Pricing your domain name.

* Making itt clear that the domain name is for sale with a For-Sale landing page.

* Listing your domain for sale on domain marketplaces.

* Selling your domain at auction.

* Finding a buyer with outbound sales.

* Hire a domain name broker.

One way to value a domain name is using a domain valuation tool. These tools are automated applications that typically assess your domain’s value based on its total search volume and the value of each search using networks like Google AdWords.

Another accurate way to value a domain name is to look at the sales prices of similar domain names. Platforms like Flippa and DNJournal provide a list of recently sold domain names, along with their final sale price.

Domains with a Buy Now price are times more likely to sell than the standard “make offer” domains. Another reason to choose this strategy is that a Buy-It-Now pricing creates a sense of urgency for buyers; if they don’t buy now, someone else might and they may lose out on the opportunity to own the domain name forever.

If you own a highly sought-after domain name and enjoy the process of negotiating a deal, there are several reasons to go with the “Make an Offer” approach instead of putting a fixed price on your domain. Receiving offers on your domain name will allow you to do some due diligence on the interested party and find out what their plans with the domain name are and how much they are potentially able and willing to pay to acquire your domain name.

When someone thinks of a domain name and wants to see if it’s available, what do they do? They type it into their browser. And if you don’t have a crystal clear “this domain is for sale” message on your domain name and an easy way for a potential buyer to contact you, you’re losing out on the biggest opportunity to sell your domain name.