While the tangible real estate business seems to be bowing under the pressure of a global economic slow-down, the virtual real estate business seems to be doing better than before. This maybe simply due to the fact that virtual properties are so much easier to deal with. In that, there are no real properties, no banks, no credit and no papers to read or sign. Since domain names are equivalent to physical addresses in the cyber world, they have come to be known as virtual real estate properties. Whenever one registers a name, it’s just like registering a property, an address where you can be found.
A couple of decades back it was relatively easy to claim a property. There was enough for everyone around. With population growth and the increasing popularity of some places, it became harder to obtain a piece of land or a property. The same applies to the virtual world as well. Just the way people covet owning a luxury home on Beverly Hills or other such popular locations, people watch out for popular domain names which these days are getting quite difficult to find.
Many individuals and companies identified the potential in this business and have reaped enormous profits simply by picking up the right domain names for a bargain and selling them for thousands more when they saw a demand. Many started with an investment of just a few dollars and today are well known names in web space. If the idea of becoming a virtual realtor appeals to you, now is the time to start buying generic names. Get the dictionary or the Thesaurus if you will and find names that you know will bring you millions in the long run.
The other potential virtual real estate business which is no longer new is foreclosures. You can go to the databases of online registrars and you will find many foreclosed names. Most of them would be abandoned unknowingly and you can grab them before someone else does. Maybe you could even open negotiations with the original owners if they are interested in buying them back. Some registrars do give preference to their subscribers. As a member, you can have the option of being notified of available expired domain names.
At least, with the virtual world, you do not need to spend on gasoline or billboards to advertise your business. You don’t even need office space. With the virtual real estate business everything can be done online and you are able to reach millions in a matter of a few minutes with minimal investment and expenses. Look up the internet and you will be amazed at how this business has grown over the years. There are even guides available that you can subscribe to, to help you out. The good thing is, you do not need millions to invest. Names cost a few dollars only, at least the virgin names. But once it is owned by someone, you can expect the price to go up sooner or later.
