Best advice for New Domainers!

What is the best strategy a new domainer should adopt for selling domains in these times, when multiple TLDs prevail in comparison to the past?

The following perspectives can be addressed and stressed individually or collectively.

1. How to buy a good domain? Carefulness needed in doing so.
2. Buying and building the inventory- What reasonable inventory must be built for sustainability.
3. How to approach selling ? Build your own website, Knowledge and use of marketplaces- how to choose; should single or multiple be used, and so on.
4. Social media: Whether social media can help in promotion or marketplaces.

Share your invaluable inputs for the budding domainers here, so that they make no mistakes that the rest of the community has made.

Benefits ( My inputs) : We must address and help prevent more clutter in the aftermarket, which is already overcrowded. There are hoards of unsold and dropping domains each year, which is lot of waste of money, and only making the registrars getting richer. Also this has helped marketplaces fleecing the domaining community as a whole, by charging unfathomable commission without improvising or being responsible for putting all round promotional efforts in the interest of domainers by and large.

Thanks everyone for joining in and sharing!