It seems to me that the more specialized something gets the more complicated the jargon is used to describe it. Domain and website flipping are two that come to mind.
Could you tell me what either of them are if you had only heard the term before in passing? Probably not. But like most specialized terms they refer to something very simple. Lets take a look at domain flipping.
When somebody says that they flipped a domain, what they are saying is they sold it. Yes you can sell domain names. I told you it was simple. Some people, domain brokers, make a very comfortable livings flipping domains.
So now you know what domain flipping is, you can surely guess what website flipping is.
Just like you can flip a domain name you can do the same with a website. Website flipping is when you take an already developed website and put it up for sale. How much you can sell it for really depends on what the website has to offer. Does it have a large user base, years worth of content on a specific topic? The more the site offers the better your chances are to make good money off of it.
Think of it in the same way you think about buying a home. The more the home offers the more it costs.
While this is true for website flipping, it is another story all together for domain names. When you buy a domain name you don’t have to build it up. You’re not required to put content on the site to increase its value. Domain name flipping is less time and work intensive than website flipping. You merely need to find a buyer that is willing purchase the domain. There are brokerage companies that will aid you in selling your domain for a percentage of the profits or listing fee.
Some domain brokers make their living buying and selling domain names. They have portfolios that contain hundreds if not thousands of profitable domain names. Some domain names sell for several hundred dollars, others have been know to sell for well over 100,000 dollars.
So stop and think about it the next time you plan on buying a domain name. That $8.99 might just be one of the best investments you’ve ever made.
Interested in learning more about domain brokering? I have written other articles about this area of the Internet to help novice entrepreneurs learn about this exciting business. Visit http://iqbanq.com/1/domain-names for more information.