You hear the phrase, “leaving money on the table” and it makes your cringe. Time and time again, domain buyers wonder if they are over-paying for their premium domain. When negotiating a price for a domain name, the domain buyer should always use a professional to assist them. Here are 5 reasons why you should always hire a solid domain broker:
1. Protects your anonymity when buying or selling a domain name
The most common advantage to hiring a good domain broker is the protection of your anonymity as the client. Many startups and new brand managers attempt to make contact with the domain owner.
Most savvy domainers will do as much research on the contact to better understand their position and true level of interest. Some clients also mention using a “dummy” email address to make contact with a domain owner. Ultimately, your true identity will be known-hopefully it doesn’t come back to bite you. Using a domain broker keeps you one step away from the owner and your privacy intact.
2. Takes the emotion out of domain buying and selling
A domain broker is a third party and not emotionally attached to the domain name, this plays a big part on both sides of the transaction.
In most cases, the buyer is passionate and driven by a specific domain name or brand. They tend to show emotional impact towards the opportunity which can drive up the cost of the acquisition. In addition, on the sell-side; sometimes the seller acquired that domain for a specific use or has attached sentimental value to the asset.
A domain broker will help keep emotion out of the transaction and get the best deal for both parties.
3. Negotiates the best domain price
Domain buyers and sellers should focus on what they do best, and in most instances-negotiating the value of a domain name is not their strong suit. Leave this to the professionals who understand the fair-market-value of domains and whether there is a chance this transaction will occur.
Just because you have a motivated buyer, doesn’t mean the seller will be on-board…
4. Uses established relationships
Most reputable domain brokers and domain name professionals have long-standing relationships with some of the largest domain owners in the world.
A solid domain broker with a proven track record could potentially tap into millions of available domain names on the aftermarket and probably could secure your brand at a much better rate then going it alone.
5. Completes paperwork, escrow and transfer of domain
The majority of all transactions require a contract between buyer and seller and typically require many back and forth discussions on language and terminology. A well organized and professional domain broker will help with all aspects of the transaction.
They will have the ability to setup the escrow, and coordinate the entire transfer process on your behalf. How many end users understand the process of transferring a domain? Not too many…