Why end users should hire a domain broker
You hear the phrase, “leaving money on the table” and it makes your cringe. Time and time again, end users of domain names wonder if they are over-paying for their digital real estate. When negotiating a price for a domain name, the end-user should always use a professional to assist them. Here are 5 reasons why you should always hire a solid domain broker:
Protect your anonymity:
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.
Take the emotion out of the transaction:
The domain broker is a perfect 3rd party that is not emotionally attached to the asset, this plays a 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.
End users 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…
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.
Paperwork, Escrow and Transfer:
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…
In closing, Do your research and hire a broker that understands your needs. One that asks the right questions and can help you with a true fair-market valuation of your buy request.