Distinct and unique domain names add credibility to a website from a business perspective instead of being simply interpreted as just another irrelevant site. However, what if the specific domain name that best describes a website is already registered in another name? It is not advisable to re-use the same name as copyright issues may easily render the domain unusable. Buying a domain name is practically the same as registering a domain name, say for a nominal annual fee, taking care to renew the registration within prescribed time frame as required, or to retain the name forever. New business websites that scour the Internet for suitable domain names can in fact strike an amicable deal to buy out an existing domain name from the current owner, at prices that are quite higher than the usual registration fees.
Buying or registering domain names can be accomplished with the help of domain registrars or domain brokers. Though web hosting companies offer free domain registrations, free domains are often registered in the name of the hosting company causing portability issues that arise on opting to switch service providers. The websites hosted on free domains sport several ads of the hosting company’s choice, which allow them to monetise the website.
Points to ponder upon before making the deal
Validate the credibility of the domain as well as the other party involved in the transaction (the re-seller or domain broker or the web hosting company).
Do not settle for domain names built around popular brand names even if available for sale as there may be copyright issues in future.
- Google for details on the domain and reseller for any comments or references from previous customers that may help clinch the deal.
- Do not discuss the deal, price, or ask for suggestions on the Internet, there may be a lot of people waiting around for this precise domain name.
- Do not get associated with banned domain names with infamous reputation as it is bound to affect the image of the new site to be hosted there.
- Never settle for the asking price, a bargain is sure to be favourable.
- Several free online tools such as Yahoo! Site Explorer, Adsense Sandbox and Dogpile can be used to evaluate the background of the domain names, their ad revenue capacity and in-bound links before making a suitable choice.