Here are four things every domain investor should strive to do in 2024.
1. Check your nameservers
I’ve been trading domain names for about 25 years, but even I sometimes drop the ball on this. I have a system for onboarding new domain names I acquire, but some fall through the cracks. Every time I audit nameservers, I find some domains that point to stale nameservers.
There are a couple of simple ways to audit your nameservers. If you keep your domains at just a couple of registrars, it’s easy to download lists or view nameservers from within your account. If you keep domains at many registrars, a simple tool like Watch Your Domains Pro can help.
2. Audit your pricing
When was the last time you checked your aftermarket pricing? I often “set it and forget it” and miss out on opportunities as a result. There are a few things I try to check with pricing:
- Check to make sure values shouldn’t be adjusted due to trends. Have some AI-related domains with the same listing price they had a few years ago?
- Make sure prices aren’t just above the $5k or $10k threshold. Here’s why.
- Lower pricing on domains you are considering dropping. If I price them below $1,000 and they don’t sell this year, I’ll drop them the next.
3. Renew domains in advance
Wholesale domain prices generally increase every year, and domain registrars pass this increase on to registrants.
Some of these increases are well known, such as when Verisign increases prices. It raised the .com wholesale price to $9.59 last year and has the option to increase it to $10.26 this year. You can bet this will happen around September 1. Other increases aren’t as newsworthy, and you might not know about them until after they are implemented.
But one thing is for sure…prices almost never go down. So, renewing your domains early helps you save money. It also prevents you from accidentally letting domains expire.
If you have the cash flow, I can think of no good reason not to renew domains early. On the off chance that the domain sells after you renew the domain early, the renewal cost is likely minuscule compared to what you sold it for.
I’m guilty of getting stuck in my ways. But the best domain investors continually test and find new ways to make money.
What are your New Year’s Resolutions I’ve missed?