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Every assoonas in a while, a domain name deal takesplace that sendsout shockwaves throughout the domain neighborhood. During the veryfirst half of 2024, for example, 3 domain sales have satisfied this basic, per DN Journal. These consistof Rural.com selling for $550,000, TP.com being purchased for $1.2 million, and Gold.com setting the year’s record after being acquired for a spectacular $8.5 million.
I can’t start to inform you how ecstatic I was when I understood that the three-letter, ultra-premium domain name I desired was offered for purchase. In my case, this was VPN.com, a domain I atfirst acquired for $1 million in 2017 in an acquisition that would modification my life permanently.
Looking back now, after effectively finishing hundreds of domain name deals in the consequences, I can impart anumberof pieces of essential recommendations to anybody who is looking to gointo the seven-figure domain name ownership club.
Related: 4 Reasons to Consider a Domain Name Change for Your Startup
Only fools rush in
Making a huge purchase is interesting, and it can often produce a fog in our minds when we get this delighted. It’s nearly like that giddy sensation you get when you understand you’ve discovered that brand-new automobile you want to buy and are prepared to total the deal.
First and primary, it’s crucial to take a deep breath and take your time.
- Large domain name purchases need some vetting. So, you’ll desire to take some time to discover more about the domain, its history, traffic volume and integrated SEO advantages, ownership, and so forth, well inthepast you make up your mind.
- Some domains might come with connected intellectual home (IP) that you can usage to your advantage, which is typically consistedof in the sale. You’ll desire to inquire about this and makesure that, if so, these associates are plainly specified in the purchase agreement.
- Conferring with the right legal counsel is vital, specifically if you strategy to cut a seven-figure check. So, puton’t gawk at having to drop some money on guaranteeing that your deal closes in a way that advantages you the most in the long run. It’s cash well invested.
Your broker matters
Who you usage as your broker matters a terrific offer. Not all brokers are equivalent, and larger isn’t always muchbetter here. Since these brokers cut their teeth on this market, having an experienced one on your side representing your interests in the acquisition is crucial from the start.
- Brokers comprehend the ins and outs of these deals and have the experience needed to aid you total them in a prompt way — while not neglecting any crucial information along the method that can possibly negatively impact the timeline or the last result.
- Most brokers haveactually vetted legal counsel and usage industry-standard agreements and escrow services to improve the acquisition and secure funds in transit.
- Many domain name brokerages likewise deal “Stealth Domain Name Acquisition” services that basically guard the identity of the purchaser (and often even the seller) to include an extra layer of personalprivacy to big deals. This is specifically crucial for brand-new enterprise-level brandname launches or protected celeb deals.
It’s like purchasing a digital piece of genuine estate
Dropping 7 figures on a domain name is comparable to