written by
Joe Uddeme
How to Buy a Domain Name
How to Buy a Domain Name Owned by Someone Else
Negotiating a Domain Price
What is a Premium Domain Name & Why You Should Buy One
How to Choose a Domain Name
How to Value a Domain Name
Domain Names for Startups
How to Buy a .com Domain Name
Things to Watch Out for When Buying a Domain
Domain Name Investing
Buy & Selling Domains
Best Domains to Buy
Everybody’s heard of GoDaddy, whose services include quick, cheap registration of available domain names. In this post, NameExperts.com Director Joe Uddeme explores their other services – and whether they’re the right option for premium domain name buyers.
GoDaddy is the world’s largest domain registrar, with over 90 million domain names registered and counting. Thanks to never-ending marketing, the average person likely thinks of GoDaddy when they want to buy a new domain.
It’s common for people to visit GoDaddy, type the domain they want to buy, and see that someone else has already taken it. But GoDaddy doesn’t leave the user hanging– it suggests an alternative domain name or advertises its domain broker service, as seen in the image below:
The box on the right suggests an alternative domain to the one already taken, and the left shows a broker service and a ‘See More’ button to click on to get additional information. But what exactly is the GoDaddy domain broker service, and how does it work?
This article covers all that and more.
Key Takeaways
Domain brokers are professionals who specialize in buying and selling domain names. They’re the internet’s version of real estate agents, connecting domain name buyers to interested sellers for a fee.
It’s common for people to think of a domain name they really want for their business but find out that it’s already registered. If you fall into this category, GoDaddy offers a domain broker service to help you acquire a domain name from its existing owner. If you pay for the service, you’ll be assigned a personal domain broker to reach out to your target domain name’s owner, negotiate a sales price, and facilitate the domain transfer. Your identity remains anonymous throughout this process.
However, there’s no guarantee of getting the domain name you want. If the owner insists on not selling, GoDaddy can’t force them to say otherwise; this is where it gets interesting. The GoDaddy Domain Broker Service fee ($119.99 per domain) is non-refundable, and your assigned broker has 30 days to negotiate a deal.
You’ll forfeit the fee if 30 days lapse without your broker clinching a deal. But, if the broker successfully negotiates a deal, GoDaddy collects an additional 20% of the sale price before transferring the domain.
GoDaddy’s $119.99 non-refundable fee plus 20% commission is rather steep for small to midsize businesses. The commission is understandable, given that most domain brokers charge between 10% and 20%, but the initial non-refundable fee discourages smaller companies from using the GoDaddy Domain Broker Service. If you’re in this category, you’ll be happy to know you can choose alternative domain brokers that charge low initial fees or, if at all.
Name Experts is a good example of a domain broker service having reasonable fees. We can help you acquire premium domain names without hassles. Like GoDaddy, we find the target domain’s owner, negotiate a deal, and transfer the domain to you.
To make things better, we don’t have GoDaddy’s 30-day limit, which can force you to forfeit significant fees. If you’re a new business looking for a great name, check out our guide to securing a great brand name for your startup.
A domain broker protects your privacy during negotiation. The owner won’t know you’re the one who is interested in their domain. All they know is that someone represented by the broker wants to buy their domain, and they negotiate directly with the broker.
Without privacy, domain owners can easily exploit intending buyers, especially when the buyer is a well-known company with significant funds. An opportunistic owner can hike their prices if they discover the buyer is a prominent company, but seasoned domain brokers shield their client’s identity to prevent this situation.
Domain brokers are skilled and experienced digital property appraisers. Based on their knowledge and past deals, they know the optimal price for a premium domain. In contrast, you likely don’t know the optimal price and could underbid the domain, causing the owner to reject your offer or overbid and get taken advantage of. Handing the negotiation to a domain broker helps you save money even when accounting for the broker’s commissions.
A professional domain broker service makes buying a domain as seamless as possible. They handle the hectic negotiation process and arrive at a final price with the owner. Then, they handle the legal documentation required to take ownership of the domain. Lastly, the broker uses an escrow service to acquire a domain, escrow meaning the funds aren’t released until you confirm ownership of the domain.
Acquiring a premium domain name by yourself can be complicated and leaves you vulnerable to being cheated. However, domain brokers are experienced in closing deals safely and handling legal documentation in case of future disputes.
If you want to acquire physical real estate, you’ll offload the headaches to a licensed broker for a fee. The same applies to digital real estate– professional brokers make buying domain names painless.
Cost is a critical consideration when choosing a domain broker, as choosing one whose services you can afford is necessary. The main drawback of the GoDaddy Domain Broker service is the non-refundable $119.99 fee. GoDaddy customers must pay this fee whether the broker negotiates a successful deal, which can be daunting to a small business. There’s also a 30-day cap, after which customers forfeit their fee if no deal is formalized.
In contrast, some domain brokers charge only commissions, meaning you’ll only pay when a deal is successfully negotiated. Some charge initial fees that are refundable if no deal closes. No matter what, you can find a more cost-effective deal than GoDaddy’s in one of many alternative brokers.
You can evaluate a domain broker’s credibility by checking their past deals. What high-value domains have they acquired in the past, and what do customers say about them?
The good news is that most domain brokers provide testimonials and general information about past deals. At Name Experts, we’ve successfully closed over $90 million in domain name sales, including premium domains like Link.com, 20.com, Monday.com and Connect.com.
Domain name acquisitions involve sizable sums you can’t risk losing. Hence, a good domain broker must utilize a secure payment infrastructure for both buyers and sellers. Payments processing platforms like PayPal, Wise, and Square make it easy to pay the required fees. We’ve also mentioned online escrow services, i.e., a third party that holds the payment and only disburses it to the seller after you confirm receipt of the domain.
Domain brokers are salesmen at heart. An ideal broker needs ample negotiation and persuasive skills. Some owners may be reluctant to sell, but a skilled broker can convince them to change their minds.
Remember, a broker works for two parties: the buyer and the seller. You might own a valuable domain you want to sell but don’t know how to find a buyer willing to pay your target price. A domain broker helps you market the domain to prospective clients for a fee.
Name Experts helps businesses buy valuable domains and domain owners to find interested buyers. Don’t hesitate to contact us if you’re in either category.
Joe Uddeme is Director and Principal of Name Experts, one of the world’s leading domain name brokerage services. He has overseen domain name sales and acquisitions totaling more than $150 million and is renowned worldwide as a go-to expert in buying and selling premium domains. Contact us at: [email protected]
Even the best domains can be snapped up at an attractive price if you follow the rules and get the timing right. In this blog post, domain name expert Joe Uddeme shares the top strategies domain brokers employ when securing high-value names for their clients.
Ready to start a business? Then get set to enter the world of domain name buying. In this post, NameExperts.com Director Joe Uddeme covers all the pricing information a newcomer to domain names needs to know. When it’s time to start your business online, securing a domain name is the first step. Regardless of whether or not your business is established, you can’t create a website without a domain name. If you’re like most business owners, you’re probably wondering how much do domain names cost? You might also have questions about how much time you should spend looking for the right URL or even how to buy a domain name. We’ve got the inside scoop on what you need to know. Your domain name essentially functions as your website’s address, so you want to make sure you have one that is simple and relevant. You’ll also want to make sure it’s easy to remember so that people can easily find you and your business online. With all of that in mind, it’s easy to see why some people are willing to break the bank to get the domain name they want. If your domain name is just right, it can greatly increase website traffic. Discover everything you need to know about domain names and how much they cost right here. Key Takeaways A beginner’s guide to domain names Pricing details for domain name buyers How a domain broker can secure a better price and streamline the process Pricing for Domain Names – the Inside Guide Ready to delve into domain names and what they cost? Let’s start with the basics: What Is A Domain Name You don’t want to shell out a ton of money on a domain name without first understanding what you’re paying for. We mentioned it earlier, but a domain name is the web address you type into a browser to bring up your specific website. It typically will start with https or www and will end with something common like .com. You’ll recognize some of the higher profile (read: high traffic volume) domain names like www.google.com or www.irs.com. Why Do You Need To Purchase One If you want to have a website, then registering your domain is absolutely necessary. There are three main reasons why you might need to buy a domain. 1. You’re building a website. You’ll most likely use a domain name that ties in with your business name or utilizes keywords that are related to your company. This is a non-negotiable part of the business world – you need a domain name. 2. Another reason you might register a domain name is when you’re considering starting a business or website. If you have a great idea for a business or a website, then you might want to jump on registering the domain you want. Stake your claim before anyone else comes along and takes it before you’re ready to execute. Check out our guide to finding a great brand name for your business. 3. The third reason that people start to wonder how much domain names cost and start registering domain names is when they are investing. Domain name investing was really popular at the start of the internet age, when popular keywords were still available. Nowadays, a lot of domain names are already taken (read: what to do if the domain you want is taken), but domain investing can still be a great way to earn money. If you’re working with a broker who is managing your domain portfolio, you can find domains that have the potential for significant value and buy them now so that you can sell them for a profit later. How Much Do Domain Names Cost In general, you can purchase a domain name for $2-$20 a year, depending on discounts available and who you’re purchasing it from. Newer domain extensions, the part at the end of your address, like .app or .info might cost more, as they are newer on the market. We can break down how much domain names cost based on a couple of factors. Like we just said, the domain extension can increase the price – for example, using .com might be more expensive than .shop. Where you purchase your domain name is another factor. A reputable registrar might be less expensive than an aftermarket service or private seller. Additionally, if you choose to register for multiple years and elect to include domain privacy it can also increase or decrease the price of your domain name. You’ll find that the most expensive domain names will be the ones you’ll find on auction houses, through private sellers, or aftermarket services. Unfortunately, there are no hard or definitive prices for domain names, regardless of the avenue you choose to purchase from. The domain name industry varies, just like real estate. Sometimes it’s a seller’s market, sometimes it’s a buyer’s market – as our guide to domain name valuation illustrates. Scarcity, though, is what drives domain name prices to eye-watering levels. Add in desirabilty, and you have a recipe for domain name costs that can shoot through the roof. The most expensive domain name ever sold – cars.com – went for just a little short of a billion dollars. Make sure you consult a domain broker if you’re looking to buy from a private seller, or are looking to purchase a domain that is already owned. Brokers are experienced and can handle all of the ins and outs of the acquisition and negotiation process so that you get the domain you deserve at a fair price. Why You Should Consider Hiring A Broker As mentioned above, hiring an experienced domain broker might be the best idea to make sure you get the domain you want. However, for a readily-available name, such as parkmylimo.com, there’s no need – it’s yours from any of the registration companies for just a few dollars. If you can be flexible when the domain you want isn’t available, that’s another great way to snap up a bargain, too. Sometimes, though, you can’t proceed without a certain domain name. Even the mighty Tesla struggled to do what they wanted with the brand because they didn’t own tesla.com. They eventually bought it – after many years of negotiations and a price tag thought to be in the many millions. A broker with experience will know the market inside out. He or she will have a thick contact book, and their years of experience provide leverage when negotiating the best price for you. If going it alone, look out for hidden fees, discount scams, and even hidden costs in your written agreements. This is where having a domain broker on your side comes in handy. They know the lingo, they’ve negotiated before, and they aren’t emotionally invested, which means they just want to get you the best deal. Let a broker help you navigate this industry and help you determine what might be too good to be true. Sometimes, when a great domain seems really cheap, it might be because there are hidden fees when registering. A domain broker can help you choose a reputable registrar and find the right price. About the author Joe Uddeme is Director and Principal of Name Experts, one of the world’s leading domain name brokerage services. He has overseen domain name sales and acquisitions totaling more than $150 million and is renowned worldwide as a go-to expert in buying and selling premium domains. Contact us at: [email protected]
Got a business idea? All set to buy a domain name so you can start dominating online? Some domains are readily available – others, less so. Here is our step-by-step guide to buying your dream domain name. Option 1: buy a domain name from a domain registrar Choose a Domain Name: Perform a domain name search. Pick a name that represents your business or personal brand. Keep it short, memorable, and easy to spell. Choose the appropriate domain extension (e.g., .com, .net, .org). Check Availability: Use a domain registrar (like GoDaddy, Namecheap, Google Domains) to check if your desired website name is available. Select a Domain Registrar Compare prices and services from domain registrars. Understand how domain locks and transfer processes work, and familiarize yourself with renewal costs and web hosting services. Most domain registrars offer promotions of a free domain name with a year renewal to register a domain name. A few providers include: GoDaddy- web hosting company, domain name registrar and marketplace offering many domain extensions to find your desired domain. Namecheap- domain name registrar and marketplace, offering whois database search and domain name registration to register a domain name. Bluehost- web hosting service and domain registrar. Google Domains- no longer operational after signing a deal with Squarespace. Register the Domain Once you’ve chosen a domain name registrar, follow these steps: Create an Account: 1. Sign up with the domain name registrar. Do your research and pick one whose services you like. 2. Add to Cart Select your desired web address and add it to your cart. 3. Domain Name Registration Process: Decide how long you want to hold the domain registration. (typically 1-10 years). Auto-renewal is another option to own the asset indefinitely. Choose your domain name registrars wisely! 4. Enable Domain Privacy Protection (optional): This hides your contact details from public records for added privacy protection. 5. Make Sure Domain is Locked: To avoid unauthorized use or theft, make sure the domain is locked in the current registrar. 6. Pay for the Domain extensions Enter your payment details and complete the purchase for your desired domain name registration. 7. Set Up Your Website’s domain Connect the unique domain to a website or email service, or hold onto it for future use or domain name trading to the highest bidder. That’s it! You now own the domain name as long as you continue to pay the yearly renewal costs within the registration period. Keep domain privacy enabled when registering a new domain. Option 2: Buy a domain name with a broker Find a Broker: Choose a domain broker service. Submit a Request: Provide the domain name you want to acquire and your budget. Broker Negotiation: The broker contacts the current domain owner and negotiates on your behalf. Agreement: Once a price is agreed upon, the broker secures the domain. Transaction: Complete payment through the broker’s secure system. Transfer: The domain is transferred to your account. This simplifies the process by letting the broker handle negotiations and logistics on your behalf. The broker can typically save you money with their expert negotiation tactics and industry-wide relationships. They can also provide the necessary domain name contract. From a marketing perspective, having the right domain is especially importan; you don’t want to settle for an unworthy alternative. Maybe you’ve already tried to find decent alternatives, but they’re not really the ones you want. Or, you have thought about using a different TLD (Top-Level Domain). While that is a feasible option, it can also confuse potential website visitors who might try to visit the .com when you own the .net version of a domain. Don’t give up just yet! You might be able to buy your ideal domain name directly from its current owner. Here’s how the process works for buying a domain name that is already taken. How To Buy A Domain Name That is Taken At Name Experts, we deal with buying and selling domain names on a regular basis and have helped many clients buy their ideal domain. We help you understand how to buy a domain name and the process to secure your perfect brand. Here is the 6-step process we follow when someone is interested in buying a domain name that is owned by someone else: Evaluate your internet domain name Find out who owns the domain Target the right contact person Determine your spending limit Negotiate without emotional attachment Transfer ownership of the domain 1. Evaluating Your Preferred Domain Name We know that a lot of work goes into finding the right domain name. The first step is to think about your long-term goals for your company, and make sure that your desired domain is a good fit for your business and what you intend to do with it. Once you’re sure that the domain you want is a good fit, you’ll need to evaluate the website currently on the domain. Is there a real working website there? Has it been updated recently? If it is, then most likely the owner won’t be interested in selling. However, if it’s really outdated or is just a placeholder website, then you can approach the owner with the confidence that you might be able to make a deal. Sometimes, owners of certain domains are just waiting for the right buyer to come their way and make an offer. Investigating the domain is crucial in making sure it is available and allows you to determine if buying a domain that is already owned by someone else is a realistic option. 2. Find Out Who Owns The Domain Once you decide that the domain name you’re after is the one you want, the next step is to find out who owns it. There are a number of different websites that can look up that information for you and the most common method is a Whois lookup. Entering your desired domain into one of the whois search sites will return information about that domain, including when the domain was registered, who registered it, and the contact information for the person or company that currently owns the domain. Unfortunately, accessibility to domain owners has really taken a hit with GDPR and some registrars offer advanced privacy protection services for free when you register a domain name. By adding more privacy to comply with GDPR regulations and additional measures to hide contact information, it can make it difficult for some folks to reach the rightful domain owners. If you are able to determine the domain owner’s contact information through the Whois lookup you can continue working through the next steps. But what if you can’t? It’s time to hire a broker. In a few seconds, they can help find an available domain name. 3. Target the Right Contact Person In some cases, the Whois lookup is just the start of the process. Some domain owners are very large, corporate power-houses that own hundreds or perhaps thousands of domain names and the contact information shown may not lead you to the correct person. Amazon.com is a perfect example. They own more than 41,152 domain names in their portfolio. Many of their domains go unused. How do you find the person involved with domain portfolio management, much less the domain you’re interested in, within Amazon’s 600,000+ employees? Did you Reach the Proper Decision Maker? Is it the project manager around that brand? Would it be marketing, CMO, Legal, Business Development, Webmaster, Technology etc? It’s a vital step to connect with the correct person or division within the company so you don’t spend time spinning your wheels. This is where working with a domain broker can be beneficial. They can do the research to identify the owner of the domain and establish contact for no additional fee. Depending on the extension you want, you may find the perfect domain name that works for your business. After contact is established, you need to determine whether the asset is indeed available for purchase – and if it is, will it be within your budget (and if not, can domain name price negotiations bring it down to an acceptable level)? 4. Determine Your Spending Limit Before you even start the negotiation process after you’ve found the owner, you want to think about the budget you have in mind. Make sure you think about what the owner went through, too. If they are actively using the domain to promote their business and have spent their time and money building a website, then you’ll want to make them a fair offer that reflects the domain’s value. If you partner with a domain broker, they can tell you what the domain is actually worth. They’ll conduct a valuation of the domain and can provide you with their estimate of a fair price. You can then use that to make a great offer that will simplify the negotiation process and hopefully get you closer to the outcome you desire for your business identity. 5. Negotiate Without Emotional Attachment Whatever you do next, don’t become emotionally attached to the asset when you start negotiating a price for the domain name. Ultimately, this could add headache, stress and more money to the equation if you start making decisions based on emotion. Remember that a negotiation is a give-and-take and should always try to create a win/win for both buyer and seller. If the price isn’t right and goes beyond your budget, you should be willing to walk away. Once you agree on terms, in most instances you would then either enter into a contract or purchase and sales agreement with the prospective seller or simply move right to one of the formidable escrow providers such as Escrow.com. Contracts and documents can become tricky and need to be completed diligently and professionally if necessary. You will also need to have proper legal representation to make sure you are protected accordingly. Documents can get stuck in legal or need board approval, and can certainly slow down the overall acquisition process. 6. Transfer Ownership of the Domain So now you have made proper contact, negotiated a price, handled the paperwork and set up the Escrow transaction. The buyer has agreed to terms and now you are ready to transfer the domain name. Domain transfers can sometimes be tricky but typically follow two forms for completion. The easiest way to transfer a domain name is by “pushing” the domain name within the current registrar. Alternatively, you may also choose to transfer your domain name to another registrar. To complete this, you will need an authorization code from the seller. Make sure the domain name is unlocked and privacy removed before you try and transfer the domain name. Once the transfer has been completed, you can release the funds to the seller and mark the transaction complete. The entire process for a domain name transaction can be completed in as short as 3-5 days, however most transactions take longer. Some transactions take months to come to fruition, but when complete you will have successfully purchased a domain name that was owned by someone else. What To Do if You Can’t Find the Domain Owner? If the Whois lookup doesn’t provide the contact information you need, it does not mean your path to purchasing the domain ends. Instead, reach out to a domain broker to continue the research process. They can conduct additional investigations into who owns a domain – or at least begin to track down contacts who can get them closer to finding that information. Partnering with a broker at this phase of the process is a great step to take as everything that follows can be challenging to do on your own. Not only is it time-consuming, but they’re experts at this and spend every day figuring out how to help people find their perfect domain. Getting Support in Buying A Domain Name That is Already Taken Working with successful brokers can save you a lot of time, money, and hassle when it comes to getting the domain name you want. Reach out to us, and let us help you grow your business. We’d love to answer any questions about our services and help boost your confidence when it comes to buying and selling domains. 7 key reasons why you should buy a domain name: 1. Professionalism and Credibility Owning a custom domain (e.g., yourbusiness.com) makes your business look more professional and credible compared to using free services like yourbusiness.wordpress.com or Gmail addresses. 2. Brand Control A domain name helps establish and protect your brand identity. It ensures your business name is uniquely represented online and prevents others from using it. 3. Easy Online Access A custom domain makes it easier for customers to find your website, improving your online visibility and brand recognition so consumers can find your site properly. 4. Custom Email Addresses A domain allows you to create personalized, professional email addresses (e.g., [email protected]) that look more professional than generic ones. 5. SEO Benefits Having a relevant domain name can improve your search engine rankings, making it easier for potential customers to discover your website through organic search. What makes a ‘relevant’ domain? Check out our post about why a .com domain name is still king. 6. Long-Term Investment A domain name is a valuable digital asset that can appreciate over time, especially if it’s a premium or in-demand name. 7. Security Owning your domain means you have full control over your online presence and don’t rely on third-party platforms that could change policies or shut down. Buying a domain helps you establish a unique and trusted online presence, improve credibility, and create opportunities for future growth. About the author Joe Uddeme is Director and Principal of Name Experts, one of the world’s leading domain name brokerage services. He has overseen domain name sales and acquisitions totaling more than $150 million and is renowned worldwide as a go-to expert in buying and selling premium domains. Using his years of experience, negotiation skills and little black book of contacts, Joe is an expert at helping clients secure .com domain names that are already owned. Contact him at: [email protected]
Name Experts offers personalized domain brokerage services, assisting clients in buying or selling premium domain names with expert appraisal, negotiation, and complete transaction management while ensuring confidentiality.
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