Domain Buy Service allows clients and new buy-side requests to completely handle all aspects of buying premium domains. It’s important to find a Domain Service that understands your needs and also has a clear understanding of the domain name industry at-large.
Buying a domain name should not cause stress or undue pressure on corporate strategists. Hiring an expert, or Domain Buyer broker allows you to share your position with someone that should remain objective. This person or entity should help you understand the value of aftermarket, digital assets and can protect all aspects of your identity.
Choosing the proper Service can save you considerable amounts of money and time. Make sure you understand how that person can provide value to your organization. Make them sign an NDA—so they don’t disseminate any information.
Buying domains is an art, and should only be completed by trained-domain name industry professionals with a proven track record of success. Premium domain names can take time to secure. There should always be a methodical approach towards any potential Buy-side acquisition. Starting with the items below can always help save time and potentially money.
Start with a WHOIS Search
When buying, always do a Whois Search to understand the history of the asset. This has become increasingly more difficult to determine with new GDPR regulations. How are you sure that you are speaking with the correct owner? A professional Service will have a clear history of the asset. In most instances, they can determine ownership, history, and any relevant pricing data of past market comps.
Contacting the domain name, or Website owner can be a challenge in and of itself. Do you send an email? Pick up the phone? Try and connect through a social media outlet? Again, how do you know if you have the correct point of contact? We talk more about the research component below and the importance of getting it right the first time. The initial contact is paramount in any successful premium domain name acquisition.
What’s the best method and time of day to make contact? Have you just left a rambling message? That’s never a good image to portray.
Use a Broker
Let’s review the process to secure any Premium Domain Name for your brand. A Buy Service should provide a complete acquisition experience that includes the following:
- Domain Whois and research on asset
- Contact and Negotiation on behalf of the buyer with complete anonymity and protection.
- Fair market assessment and valuation of the URL in question
- Negotiate in good faith without Dual-agency
- Provide suitable contracts and necessary paperwork
- Handle and turn all documents between buyer and seller
- Handle and coordinate all communication between buyer and seller
- Setup and coordinate the Escrow process with Buyer and Seller.
- Remove any emotion and professionally manage buyer and seller expectations
- Facilitate domain name transfer to Buyers preferred Registrar
- Make sure Whois is updated accordingly and the domain is locked in your account
- Authorize release of funds accordingly
Tips on Safely Purchasing Domain Names
- Get it right the first time
- Companies should always use this checklist to make sure they are not leaving their money on the table
- Hire an expert
- when you get your maintenance on your car, do you do it yourself? Spend your time wisely, on what you do best and leave domain appraisal to the experts!
- Conduct Research
- who owns the asset, and for how long? Is it being used? Are there active trademarks? What’s the history of the link profile?
- Variations and Alternatives
- brands need to nail it. To do this, sometimes, they need to think outside the box. Find viable alternative assets that define your image and brand.
- Negotiation is key
- do you negotiate for a living? We do. We remove the emotional attachment and red tape to manage both buyers and sellers’ expectations.
- Be Flexible
- sometimes you have to give a little, to get a little. Don’t be afraid to be flexible and offer ways to mutually-benefit the other party in your transaction.
- Be Honest
- honesty and integrity go along way. Be true to your word, and don’t go back on what you say. This is critical for deals to succeed.
- Ask Questions
- hold your broker or expert accountable and ask appropriate questions. Some domain transactions move quickly. A clear line of communication is necessary to save valuable money and time.
- dig for more information, market comps, fire-power necessary to make the case. Goes back to the research tidbit above.
- don’t hunt for a CBD-themed/ Marijuana-type name when there is mass decriminalization and legalization occurring. The market is just too hot, and pricing will be way too inflated. Instead, names should be selected, “ahead-of-the-curve”.
It’s important to ask the right questions. This can save the buyer tons of money in the long-run. The most widely used example relates to trademarks tied to a name, or brand. Many companies have secured a domain name for commercial use, but never take the time to search the trademark database. This quick search can save clients thousands of dollars.
Premium Domain Names make total sense for any emerging brand, looking to scale their brand accordingly. Shortening the global domain name is still the foundation for successful growth. The top companies around the World continue to focus on the sensible .com for their brand growth
Even emerging companies see the value in securing their global .com domain name. More and more companies are using Domain Buy Service for all of their stealth-acquisition needs.
Why Premium Domains?
Let’s continue with the beach-front real estate analogy. For the past thirty years, brands swallow up the short, brandable .com domains. These are the assets that provide the most upside, equity and long-term value to the brands. These assets can hold generic value, such as Booking.com, or be more brandable, such as EBay.com or Baidu to name a few.
These names have commercial appeal and are typically, very memorable. Brands spend huge amounts of money attracting new users and creating brand credibility. Digital strategists are competing for a smaller piece of the available premium domain name inventory.