In the video: 00:47 – Is .com still the best? 01:29 – Steer clear of THESE 02:00 – Making a serious offer 03:41 – Stay mindful of your manners 05:15 – When it’s time to buy 05:51 – What you can expect to pay Ready to grow your business? Let James give you a hand. Click HERE Download the PDF transcription Transcription: James Schramko here, and today I’m talking about how to buy a valuable domain. I’ve had lots of really good .coms in the past, a lot of two-word domains like SEOPartner, TrafficGrab, and KickingBack.com – some great domains that were already taken when I wanted to use them, so I bought them secondhand. “Be cool when you’re bidding.” CLICK TO TWEET Sometimes you’re lucky, you can pick them up at auction, and that’s great. You just got to remember to be cool when you’re bidding. Also, sometimes people have them for sale, and you’ll see a lot of these sites sitting on a broker’s site, where someone’s hoping to make a big profit. So this video’s just to help you to basically buy a domain at a better price. Should you aim for the .com? A few things here. Firstly, is .com still good? I think it is. I think it really is the king of domains, and it’s great to have the .com. If you can’t get the .com, sure there are other options. But you’re probably still going to be driving traffic to the .com version. There’s a few examples: Basecamp, LeadPages, ProBlogger – all of these sites didn’t have the .com at some point, and one of them still doesn’t, and it can be a real problem. If you want to get some basic information on how to value a domain, I recommend DNSalePrice.com. You can go and have a look at the criteria for what makes a domain valuable. Sometimes it’s how old it is. It could be how brandable it is. Avoid the trademarks And just on that, please don’t buy domain names that have trademarks applicable to them. Do a trademark search when you’ve got a great domain that you think you want to use, because if you buy someone’s domain that’s trademarked, for example if you bought iPhone.com, then you’re going to be told to stop using that domain, so it’s not worth buying that. Quite often, those domains are sitting, available for purchase, for an unsuspecting buyer. On making the right offer If you are dealing with a broker, then there’s a way to go about that. I’ll get to that in just a sec. If you’ve got a private seller or someone’s got the domain redirected somewhere, or they don’t seem to be using it, look up the Whois information and then contact them, and make a reasonable offer. Like a serious offer, not $50. Quite often, a two-word domain is going to cost you thousands of dollars or tens of thousands of dollars. So a good offer, like a thousand dollars, is a nice “Hey, I’m serious and I’m not wasting your time” type offer.
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