As the domain broker, its commonplace to assist clients with the entire acquisition process including: contacting/locating, negotiating, escrow and transfer of the domain name asset. The buyer understood the advantage of adding a qualified domain broker to represent their interest.
The seller was one of those control freaks who needed to oversee and micro-manage the process. Multiple times sending correspondence to the buyer instead of the domain broker. At one point, the seller had to be asked not to contact or reach out to the buyer. All correspondence needed to go through the domain broker. The seller delayed the process by sending an authorization code directly to the buyer. Somehow, it wound up containing an extra character-and inevitably slowed down the transfer process.
Eventually, the transaction was completed and both buyer and seller seem content with the outcome. The buyer continues adding targeted assets to their portfolio.
The broker should always handle all communication on behalf of buyer and seller. They should be responsible for the entire process and effectively share updates accordingly. The process and flow is more fluid and professional, with many domain acquisitions completing transfer within 5-7 days.
Additionally, the domain brokers reputation and history should weigh heavily when selecting the appropriate domain broker for your project, or rebrand. The domain broker should add value, but also should remove any confusion for both buyer and seller. It’s extremely important that strong lines of communication are open and flowing…
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