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Whether you are a professional domain name trader or an internet businessperson looking to sell you website, you want to get the best possible price for your domain name. To accomplish that you need to plan and be ready. Use the following steps to ensure the best price when you decide to sell your domain name.

Assess the value of your domain name. There are many factors to consider when determining the value of a domain. If you aren’t sure how to do this, there are companies that make these assessments for a fee. Probably the most important factors to consider are traffic, length of the name and whether it is a dot-com TLD. Research the market value for domain names in as many categories as possible such as aftermarket domains, sounding domains, secondary market domains, high-value domains, and top domains.

Keep financial reports and tax filings current and correct. Interested buyers usually want to buy immediately and will be put off if your information is confusing or they have to wait for a financial statement. If you have difficulty maintaining your records in a timely and accurate manner, you may want to consider using a CPA or a good software program for this purpose.

Consider the Market. Timing is everything. Pay particular attention to what is happening in your market niche and try to take advantage of peak times for sellers. Postpone selling if your market is experiencing a downturn unless you have no other option.

Avoid ambiguities. Correct anything that might seem unusual or confusing before you try to sell your domain name. Look at your site objectively. Eliminate complications, such as a mixture of revenue from more than one site. The simpler and cleaner your website is, the better chance of obtaining top dollar.

Be real in your expectations. Domains that sell for thousands of dollars are rare. There are tools available to help you accurately assess your domain’s value. Use one if necessary and price it accordingly. If you are in a competitive market, you may be required to accept a noncompete agreement.

Use a variety of strategies to advertise your intention to sell. A few possibilities are:

• List your site with an auction site or other marketplace.
• Approach buyers directly.
• Put a “for sale” sign on your domain’s home page.
• Contact your domain name registrar and ask about their sales tools.
• Make sure your intention to sell is extremely visible. Also, make sure all methods of advertisement contain multiple ways for prospective buyers to contact you, such as email, phone and chat.

If you follow the above strategies for selling your domain name, you will significantly increase your odds of obtaining the best price possible. Also, many of the strategies presented are helpful when buying a domain name.

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