What Is the GoDaddy Domain Broker Service, and Is it Worth It?

written by

JoeUddeme

JoeUddeme

What Is the GoDaddy Domain Broker Service, and Is it Worth It?

Domain Buying Guides

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 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 will explain that.

GoDaddy Domain Broker service

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.

Why should I use a domain broker service?

Privacy

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 domain brokers shield their client’s identity to prevent this situation.

Cost-effectiveness

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.

Transaction security and ease

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.

Considerations for choosing a domain broker

Cost

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.

Track record

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, and Connect.com.

Payments security

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.

Negotiation skills

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.

Selling a domain name via a broker

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.

Subscribe for More Domain Buying & Selling Advice

Related posts

Default alt text
What is a Parked Domain?

Most web users aren’t familiar with domain parking, yet it’s something that most of us have encountered. What is a Parked Domain? A parked domain is a domain name that has been registered but not connected to an active website. It is not currently being used, but instead is set aside for future use. Most domains, like nameexperts.com, point to an active web page. But in the case of a parked domain, that address points to a “this domain is reserved” web page, a “buy this domain” page, an advertisement page, or a plain web page with no content. In some cases, it’ll point to no web page at all, and you’ll see an error in your web browser saying “This site can’t be reached”. Why Would You Have a Parked Domain? There are many reasons for domain parking, including: Reserving a Domain Name You might have a domain name that you plan to use for a website in the future. So, you buy it from a registrar and park it to prevent another person from snapping it up and disrupting your plans. A good domain name is worth its weight in gold, so absorbing the cost of holding the domain when it’s not in active use is advisable. Redirecting visitors to another domain You can use your parked domain to redirect visitors to another active domain that you own. For instance, you might have owned a website and changed the domain name for marketing purposes. You wouldn’t want people typing in the former domain name to get confused, so you redirect it to the new one. Save it for Reselling Some domain names can appreciate in value, and many people hold them as investments. You can buy a domain name and park it with the intention of selling it for a higher price in the future. Site is in Development The website you want to connect to the domain name may be under development and launching soon. In the meantime, you can park the domain and only connect it to the website when it’s ready. How to Configure a Parked Domain Error Page Some parked domains return an error message when you type them into your web browser. The error message varies depending on your web browser, but it usually takes the form of “this site can’t be reached”.
Default alt text
How to Rebrand Your Business and Domain Name

Looking to rebrand your business? It’s not an easy undertaking to rebrand an established business – I’ll walk you through some of the things to watch out for when working on a rebrand for your business. How to rebrand a business Branding is a critical consideration for every business. Branding refers to promoting your products with a distinctive feel and design. It’s an ideal way to differentiate yourself from competitors. No matter how good your products are, you won’t sell them without proper branding and customer awareness. Branding isn’t an easy task. We wouldn’t have many companies struggling to sell themselves if it was. The world is littered with failed branding strategies even from big brands. Netflix’s struggled early on to use Qwikster to break out its DVD rental service and its streaming service. However, a failed branding strategy isn’t the end of the world. Any business can rebrand and make it right with consumers. Netflix didn’t give up when its Qwikster brand failed. It continued DVD rentals with its usual name (successfully) before pivoting to video streaming later. When your initial branding strategy doesn’t work, the intelligent thing to do is a rebrand, and there are specific factors to consider when doing that. Be clear on what’s driving the rebrand Before initiating rebranding efforts, you must be clear on what’s driving the need for the rebranding. There are varying reasons for a business to rebrand, and each demands different strategies. The most common reasons for rebranding include: Having an outdated brand To reposition your brand Reputation management Brands can become outdated when they fail to keep up with rapid changes in modern style and influence. For example, a social media site from the early internet days won’t survive well in this current internet age when we have vastly different demographics. The early social media platforms became outdated over time and those that failed to rebrand lost market share. You can also rebrand to reposition your company’s business strategy. If your original name focused on a niche, but has evolved to target a broader offering. FilterEasy to Second Nature is a good example of a brand that changed brand names to better align with their new offering. They originally focused on selling only filers, but evolved to sell home care products. Businesses also rebrand for reputational purposes. You may have started with a well-meaning name that unfortunately became associated with negative things in the future. A typical example is a Chinese fashion retailer named ISIS that had to rebrand when the name became associated with terrorist activities. Focus on the Core Messaging Your rebrand should have clear and concise messaging. You should be able to tell a story with your new brand that customers can relate to. Just don’t rebrand without context because it can irk existing customers. Let them know why you’re rebranding (see no. 1 point) and why it’s better for the business. A simple explanation goes a long way in making your customers empathize with you despite the short-term inconvenience. Consider your audience, market, and competition It would help if you thoroughly evaluated how your rebranding would affect your existing audience (customers) and standing against competitors in the market. Ensure you research to validate if your rebranding reasons are appropriate. How would your customers react to an unfamiliar brand name? Is there intense brand competition in your industry? These are good questions to ask before initiating any rebrand. You must be sure that the direction of your rebrand matches what customers want. There are two main types of branding research; quantitative and qualitative. Quantitative research entails collecting and analyzing numerical data to find patterns, while qualitative implies using non-numerical data. Publicize your new brand Your rebranding efforts will be futile if you don’t make customers aware of it. Consumers have short attention spans, meaning they can easily forget your old brand. Once you rebrand, assume you’re a newly-formed brand and market like one. Buy ads on social media platforms, search engines, TV, etc., to spread the word about your new identity. How do I rebrand an existing business? Buy a new domain name In this digital age, not having a website puts you on a lower level than your competitors. Hence, the first step to rebranding an existing business is securing the proper domain name. Before choosing your new brand name, check if a corresponding domain name is available. Your domain name is how customers would find you, so you can’t afford to make errors here. You can buy any available domain name through any domain registrar. However, there are cases where a domain you want is already taken, and you see yourself having no other choice. Don’t fret. You can enlist a domain name broker (like Name Experts) to find and contact the owner with an offer on your behalf. Change your logo A logo is an essential aspect of any brand because it’s one of the first things a customer recognizes and identifies with. Hence, you should change your logo during rebranding to signal your new brand identity. You can make your logo simpler for customers. Likewise, you can use unique colors to make your new brand stand out from your former. Change your slogan Many brands have a slogan that customers resonate with, e.g., Nike’s “Just do it” and Disneyland’s “The happiest place on earth.” It would be best if you changed your slogan when rebranding to flaunt your new brand identity. Create new ads You should create advertisements fitting your new brand identity. Your ads will now use a different slogan, color palette, keywords, etc. What does it mean to rebrand a business? Rebranding is the process of changing an organization’s corporate image. It entails creating a new look and feel for an existing company to influence customer choices. A rebranding company would typically change its name (and domain), logo, slogan, vision, mission statement, etc. Why would a company rebrand? There are various reasons why a company would rebrand. It could be repositioning themselves for a new business strategy, reputational management, or simply fixing an outdated brand. If a company is switching from a niche market to a larger one, it’s wise to rebrand appropriately to match its new focus (e.g., FilterEasy to Second Nature). Likewise, if a company’s brand suffers from a poor reputation due to internal or external causes, a rebrand can help avert it. Should you rebrand your business? Rebranding is a hectic and expensive undertaking that you must do only with a clear goal. If you’re not looking to change your strategy, avert a reputational crisis, or face other standard issues that call for rebranding, we advise you to avoid it.
Default alt text
How To Safely Purchase Premium Domain Names

We are living in a time when there are more active domain names today than there were people alive in the 1920s. There are over 1.8 billion websites, and this doesn’t even include the ones that aren’t active. This doesn’t leave a lot of room for you to find an original domain name that will instantly connect with your market.   If you want your business to succeed in the online world, you will likely need to go for premium domain names that are already owned by someone else. Keep reading to learn everything there is to know about premium domains and how you can successfully purchase them.   What Are Premium Domain Names and Why Do You Need One?   You want your business to be successful right off the bat, and premium domain names might be the best first step. Here we discuss what premium domain names even are and a few tips to help you purchase them.   What Are Premium Domain Names?   Premium domain names are short, easy, and highly marketable names that are usually already bought by someone and are available for sale for a “premium” value. They are priced higher than normal domains due to a few factors:   They have high marketability, thanks to their unique and trendy names that are instantly recognizable by the target audience. Premium domain names tend to be shorter in length and are easier to remember. (example: Facebook bought “fb.com” as it was used almost as much as “facebook.com”) They have optimized keywords that are hard to find in new domain names. They usually end in the popular “.com” extension.   There are a few other things to consider and a few criteria that are used to qualify your domain name as premium. The first is if they are generic or single word domain and whether they have a .com or another globally driven brand.   They should also be pronounceable and meaningful and should have a desired commercial appeal. Similarly, does the name you want to have a clear path to developmental success or is it random and highly specific?   We’ll help you decide if your premium name has a significant search volume and brand equity. A premium domain might also already have a rich-SEO history and what we call a “white-hat” SEO past. Your domain should be catchy, brandable, and most importantly – scalable. Basically, you’re looking for a timeless domain that won’t go out of style or be easily forgotten.   When you’re looking to add a domain name to your business, it’s important to focus on some of these pointers above if you want to add value and long-term equity to your overall brand. Especially if you eventually sell your business, you want to choose a name that can be resold and give yourself a little digital curb appeal even if the business doesn’t pan out down the road.   Why Premium Domain Names Are Necessary For Your Business   While they’re more expensive, premium domain names offer a range of benefits that often match that price and provide a pay off in the long term.   The first benefit you can take advantage of is a higher reach and resonance with your audience. A memorable domain name will stick in consumers’ minds and create a more credible image around your brand. If they remember your domain name, they’re more likely to search directly for it.   Premium domains will typically contain relevant keywords that are used frequently by consumers of the business segment. This provides a potential pool of traffic already searching for your domain, available for you to access.   Premium domain names are not essential when you’re first starting out and do not have a lot of capital. They are often expensive and might be a risky investment at the beginning. Once your business starts growing, a premium domain name will help take your online presence to the next level and open you to a world of new opportunities. At Name Experts, we’ll be able to help you decide the best name to help you get started.   Our Tips For Purchasing Premium Domain Names   Buying domain names can be stressful if you do not have much experience with the process. Here are a few tips you can follow to successfully purchase a premium domain.   Hire a Domain Buyer Broker with a successful track record. They will help you perform a WHOIS search easily and aid you through the process of your purchase. Make sure you get your broker to sign an NDA to protect your information. Contact the owner professionally. Keep a list of alternatives. Be honest and flexible in your negotiations. No one wants to deal with dishonest and rigid buyers. Ask your broker any question that comes to your mind.   Let Name Experts Help You Today   Though this is a quick and general list, we highly suggest reaching out to an experienced broker to help you with the process.   Name Experts offers a full-service domain name brokerage experience for clients. With over eleven years of industry experience and a proven track record of success, we can help you buy a premium domain name your business needs to boost its online presence.   To know more about our services, get in touch with us by contacting us.

Why Work with Name Experts

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.

Free Consultation

Some of our most
successful stealth acquisition and sales

Aid.com

Fit.com

Mine.com

GLD.com

Jeff.com

Fora.com

Nori.com

Secure.com

Guitar.com

F*ck.com

Radian.com

MetaData.com

Prize.com

Link.com

Loop.com

Programs.com

Claim.com

Quince.com

Hook.com

QXO.com

NQ.com

Rest.com

Humani.com

Max.com

Need help buying or selling your premium domain?