With more than 140, 000 websites being built every day, demand for domain names has gone out of the roof. It’s pretty hard to find generic Top-level domain names (.com, .org, and .net) that are not registered. If you get lucky to find one, the price will instantly blow you out of the water. This is why domain name registration may not work if you want a high-value domain name on the cheap. The only option is to buy a domain name. Many domain name owners list their domain names for sale on domain name auction platforms, and you can get a cheap domain name there. Here how:

Go on a research spree on domain name marketplaces to buy a domain name that’s competitively priced

The best place to get cheap yet valuable domain names is in domain name marketplaces or domain name auction sites. The best sites to research in include GoDaddy, Namecheap, or Domain Monkey. Although domain names are available at premium prices in these marketplaces, you can get a pretty good domain name if you go into a rigorous and consistent research.

Get in touch with the domain name owner to buy a domain name you like

If you find the right domain name, get in touch with the domain owner ASAP.  Most domain name marketplaces allow domain owners to list their contact information along with the domain name. Take advantage of that and contact them immediately before someone beats you to it. If you don’t find the domain owner’s contact details, head to the WHOIS directory. You will find them there if the owner hasn’t made them private.

Diligently negotiate with the owner about your intention to buy a domain name

Adopt the right approach when contacting the domain owner to purchase the domain name. Don’t go deeper into details of why they are not using the domain. While it’s good to get comprehensive information about the domain, the owner might construe it as mockery, and they might refuse to sell you the domain. Be professional. Only ask questions relevant to the domain name. It’s possible the domain owner might want to know who you are and what you want to use the domain for. Tell them, but do not disclose too much information about yourself. Then negotiate a good price from the one listed on the domain marketplace. If you have a good personality and negotiating skills, you can get the domain at a reasonable price.

Have price option and the final price you’re comfortable with

When you go into a negotiation, make sure you go with options. At this time, you must have gone on a research spree and seen various competitive domain name prices. Those prices should act as your benchmark when negotiating with the domain owner. You should also keep your budget in mind. You should have the maximum price you’re ready to pay when the owner becomes a hard negotiator.

Protect yourself after reaching an agreement

Payment protection is a critical aspect of online commerce. Not everyone out there is genuine. Corn artists have infiltrated the domain name business and fleecing unsuspecting customers their hard-earned cash. This is why you need a payment protection service before you release payment. Most domain name marketplaces offer convenient payment systems to secure your domain name upon payment. If you choose to transact off these domain marketplaces, be sure to use the Escrow service. This service will hold your money until you’re satisfied with the product. The money will then be released to the domain owner upon your approval.

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