I am a bum marketer to the core. I don't really understand a lot of the technical issues. I mostly just follow a plan over and over and manage to earn a living. I do think though it's time for me to learn more and take this to the next level. I don't really understand Domain Names. I just register them with Godaddy and that is all I know. I forward affiliate links, sites, etc to them because that is what I was told. Recently I have been contacted by persons wanting to purchase some of my domain names. If they are just registered with Godaddy I don't own them right? How could I sell them? I am Confused. If anyone could shed some light on this, I would be grateful.
GoDaddy is just the "registrar" who holds it in YOUR NAME for you. You are free to sell it to anyone you choose, GoDaddy will even list it for a fee. There is a transfer domain feature in the GoDaddy control panel. You can also just log in to GoDaddy and change the owner details. The legal issues vary but if you trust the buyer no real contract is needed. GoDaddy has help pages on the subject and the web is full of info on it. I transfer a lot of sites with no paper work involved other than a check. Intellectual properties like logos and such should have ownership agreements. A simple example, I hosted 4 resorts for one owner who sold each to different buyers. I managed his GoDaddy account so transferred each Domain Name to the new owners. They just have to "accept" the transfer and it's done.
Thank you, so let me see if I understand this. I registered a domain for 5 bucks. Someone can pay me a grand for it and all I do is transfer it to them through godaddy and I am done? If this is true, then this apparently is yet another way to make money on line?
There are businesses who do nothing but buy and sell domain names. You can find expiring names that have high traffic counts and flip them. Some people buy them just to re-direct the traffic the domain gets to their own site. It's a cut-throat business you can lose money on if you get greedy. There are lots of sites you can list auction style like Afternic. GoDaddy has an auction service for them also, for a fee. I've even sold some on eBay in the past, content and all. By all means go for it if the name earns you less than the offers. On the other hand, you might want to wonder why the next guy wants it... you may be overlooking a way to monetize it yourself like they plan to do.
