Do you ask the RIGHT questions when buying domains? My top 20 Right Here!

Afternoon Folks!
 

If you want to buy great domains you have to ask the right questions to see if it qualifies. If you don't ask the right questions it is virtually impossible to buy the right domain. What is the right domain? One that will be in demand in the future for starters. Some focus on the tools out there and that is all well and good. I would give that part of the equation the least amount of weight. That will change if you are focused on the future. So zero today may mean hundreds or thousands tomorrow.

 

Here are just some of my top categories.

 

1. Is it easy to spell? I mean EASY! The masses can't spell.
2. Is it easy to remember?
3. Will it look good on a billboard or in a commercial?
4. Will it pass the radio test?
5. Is it commercial or social?
6. Does it mean something just standing alone?
7. Can the domain go up in value by 100x? by 1000x 10,000x?
8. Is this a retail price or a wholesale price?
9. Are the other extensions taken?
10. Does it get ANY traffic or make ANY income consistently?
11. Is it a plural when it should be a singular? Or is it a singular when it should be plural?
12. Will there be mistypes? If you buy a .net and build it without owning the .com how much traffic will you lose?
13. If I decide I don't want the domain anymore is it good enough to be liquid?
14. Are there other related domains that would help or hinder?
15. Is this the best domain I can find for the money?
16. Can I use the money in a better way?
17. Does it add value to your overall portfolio?
18. Could you open a business around that domain name?
19. Is the traffic type in or is it coming from any other way?
20. Could you envision a large company using that domain in a national ad campaign?

 

These are just a FEW of the questions I ask and most take a split second to figure out. You need gut. The best way to build gut is guessing the traffic before you find out the actual numbers. If you master this, you will be way ahead of the curve. 

I still believe most great domains are bargains and priced between $500, $5000 and $10,000. I can't afford all the bargains out there. That is also why if you have large portfolios, dumping your crap is essential to survival. 10,000 names making no revenue is worth cutting loose and buying 80 $1000 names. There is about to be a glut of shit domains on the market. So the drop game is about to change once again. This one will be like peeing on an electric fence because anyone picking up those drops will merely be buying a liability at the worst possible moment.  

I am sure you have your criteria as well. Some are more focused. Some are more general. Some are with different extensions. How ever you do it, 2009 is a year where folks can not afford to make mistakes.  

Have a GREAT day!
Rick Schwartz