In the world of business investors are always trying to find new markets to tap. But, individuals today are sitting on a gold mine without knowing it. Domain names are a hot commodity and if the name is right some are willing to pay top dollar.

In 2004 3,813 names were sold for a total of $15 million. In 2005 those statistics jumped to 5,851 domain names being sold at a whopping $29 million. Now, imagine what three years has done. This is a growing business with much more potential. You may be sitting on a domain name you parked that others would be willing to pay top dollar for. And, the sell of domain names can be done independently with no to little effort.

In some cases, potential buyers will contact owners of domain names themselves. They will do this without knowing if the name is for sale or not. If interested, be sure to check out the company or individual and the price they offer is a good starting point.

There is money to be made in domain names. One individual bought a domain name for $7 and sold it a month and a half later for $1000. It is easy money and fun. Be sure to research those involved in the transaction though, whether it be a broker or individual or company purchasing your domain name.

There are a number of companies offering services to help those selling domain names. This is a fairly new market, so it is still growing and not much information on the success of sales is available. When you decide to use a broker you should follow a few easy steps.

First, visit the brokers’ web sites. Research the companies thoroughly to find one that may fit your needs.

Second, send an email explaining what you are looking for. Use the sites contact information. Explain thoroughly that you are looking to sell your domain name and what services you are seeking. Ask any questions you may have about the company and what services they offer their clients. When you receive replies note how long it took each company to reply to your email and if they answered your questions and provided the necessary information to make an informed decision.

Finally, choose a site after you receive replies from the companies and have had time to research each completely. If you are not impressed with any companies you received information from remember you can always sell your domain name independently.

Selling your domain name should not be too stressful. If you have no luck with a broker there are always other avenues to consider.

When buying or selling a domain name value is one of the most important aspects to consider. There are several factors involved in deciding the value of a domain name.  Length, spelling and using .com in the name are just a few of the selling points.

If, by chance, you have received unsolicited offers for your domain name you have two advantages. First, you know there is some value associated with the domain name. And, two you have a starting price for the sale of the name.

Rule of thumb is generally the more words in a domain name and the less it is worth. However, common two word expressions seem to bring a larger price than rare one-word expressions. Even three-word expressions can be worth more than a rare one word if they are common.

Spelling is another key when selling your domain name. For example if a domain name is spelled urdomain.com versus yourdomain.com the incorrectly spelled domain is far less valuable.

Selling a domain name can be profitable and even fun. But, there are keys to getting the best price out of your domain name. Research first and look into what would be a good starting price. Spelling is key, common expressions are best and .com will give you top dollar.