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




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

  1. robb

    Nice post, and great to see you blogging on a regular basis again. I appreciate the thoughts of someone who’s been in the game for so long. Also enjoy your ideas on the economy and how it affects domains/investments. Keep it up!

    Reply
  2. jeff

    Rick,
    Thanks for posting your top 20 questions. I have a question reference your ireport.com sale. Did you seek out the buyer or did they find you? Do you have any suggestions for getting a domain in front of a large company?
    Thanks

    Reply
  3. ray

    totally correct!.. i used to be in domain business before as well…
    less domain with good quality is much better than more domains with less value.

    Reply
  4. Johnny

    Rick….I first started seeing domainers dump domains in mass on TDNAM in about October and it has been steadily increasing since then.
    There are so many fair to poor .com domains which if checked have every other alternative extension bought out. If you check the owners of those extensions they are usually domainers. Now, for the life of me I can’t figure out their sales model or PPC model b/c 99% of those won’t make money in PPC and probably most won’t ever sell either.
    My ultimate conclusion is that they just made bad investments and will have to drop domains like crazy to stay alive, unless they just have cash to piss away like fools.
    I agree Rick…. a tsunami of bad domains is coming. It may be so much work to wade through drop lists that it just won’t be worth the time. That time will be better invested elsewhere.
    .

    Reply
  5. Johnny

    Rick….I first started seeing domainers dump domains in mass on TDNAM in about October and it has been steadily increasing since then.
    There are so many fair to poor .com domains which if checked have every other alternative extension bought out. If you check the owners of those extensions they are usually domainers. Now, for the life of me I can’t figure out their sales model or PPC model b/c 99% of those won’t make money in PPC and probably most won’t ever sell either.
    My ultimate conclusion is that they just made bad investments and will have to drop domains like crazy to stay alive, unless they just have cash to piss away like fools.
    I agree Rick…. a tsunami of bad domains is coming. It may be so much work to wade through drop lists that it just won’t be worth the time. That time will be better invested elsewhere.
    .

    Reply
  6. Rob Sequin

    Great questions but regarding crap, how do you really know what crap is.
    I had Latitude.mobi but let it drop figuring it was crap.
    Then I read about Google’s new latitude on google maps. I figure maybe the domain is still in my account and can be renewed.
    Nope.
    Owned by Dell now. Dell who makes Latitude computers! They are talking about coming out with a phone. I hope they don’t call it the Latitude.
    One man’s crap is another man’s treasure.
    Can’t win ’em all.

    Reply
  7. Rob Sequin

    One thing to ask as well…
    Is this term a fad or a trend.
    A fad means it goes away. A trend means it is coming and will be something big.

    Reply
  8. Domain Blog

    Thanks for posting this useful list.
    I agree with each item, except I don’t place too much emphasis on type-in traffic anymore. I’ve seen so many sites do extremely well with a very brandable domain name that gets negligible type-in traffic.

    Reply
  9. Successclick

    Oh my god! I wish I had seen this post a week ago before I agreed to purchase someone’s domain portfolio of 2000 domains at only $60 each!
    I thought I was getting a good deal but now I can see that I blew $120k. Rick, thanks for showing me that if the domains I buy don’t fit your list above, then I’m up sh*t creek.
    Thankfully, I’m not that upset, it’s only a $120k loss. Peanuts… petty cash. I can sell the 2000 domains for $10 each and get 10% of my investment back.
    As far as your domain buying tips, I guess I should offer my domain”solarclothing.com” and”digitalmammogram.com” for $20 and dump it quick, because they only get about 100 uniques a month. I will ignore all the future trend articles stating that solar-energy producing clothing will be THE biggest fashion trend by 2012, and that digital mammograms will become the norm for breast cancer exams by 2010.
    And of course, any domain that doesn’t get”typein” traffic should be immediately discarded for cheap, because building it out as a brand on content development sites such as AEIOU, Evo and Whypark won’t make much difference in increasing the value of the domain, according to your advice.
    Dang! I need to learn the lessons of buying domains in 2001 to understand and monetize the value of domains in 2009!

    Reply
  10. used computers

    I have just had my second Dell. Thinking by spending £1500 this time I’d
    would get someting really good. It’s OK but that is about all. The keyboard
    didn’t light up when it came as per spec, so they sent a replacement part
    which my IT guy fitted.
    There are other issues but all Dell say arrgogantly is ‘they don’t supply faulty goods’
    Now they ignore my emails.

    Reply
  11. kitchen cabinets

    Hail to the domain king. Wonder how much he is making doing and naming them domains name.

    Reply
  12. Büyü

    Hail to the domain king. Wonder how much he is making doing and naming them domains name.

    Reply
  13. Weight Loss Pills

    I appreciate the thoughts of someone who’s been in the game for so long. Also enjoy your ideas on the economy and how it affects domains/investments.

    Reply
  14. Lyn

    Rick,
    I’d love for you to give examples of different type of names one should look for. In 2 or 3 word generics.

    Reply
  15. Top Domain Deal

    Thanks for the helpful article!As a new domainer (3 months old)I will need to develope some self dicipline in buying domains and your list will help me do that!
    Thanks again Rick!! It is always good to learn from the MASTER!

    Reply
  16. kumar

    I know its bit old thread but still, i need a bit of advise.
    I am newly entered in domain business.And still fearing to step into these business completely.
    the domain name howtoblog.com sold out for somewhat $900 yesterday at dynadot.
    I think that is way too much price for these domain name.
    I was just watching these domain name to buy for approx $200 to at-most $300 max.
    But it went for $900.
    What do you think ,is it fair price for these domain name.
    HOWTOBLOG.COM
    Just want your views on how much is it worth.
    Will its buyer get anything more for these domain name Anyday.
    My bet is No.
    Whats your bet.
    Please share your precious views

    Reply
  17. Ewan Domain

    Though I am new in domain trading, I agree that less domain with good quality is much better than more domains with less value. I enjoy your ideas on the economy and how it affects domains or investments. Now is the time to buy! Got an eye on a1domailsale.com. Keep it up!

    Reply

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