Acquiring a domain name that is owned by someone else can be extremely challenging and a daunting task to tackle. Domain name acquisitions can be very tedious. Too often, domain name investors or end users are challenged to figure out just how much (or how little) money to spend on their domain name. That, and identifying the best name can be very difficult if you’re not in tune with the domain name market.
Research becomes extremely paramount for any successful domain name acquisition. It’s not always just about the owner, sometimes there can be other underlying reasons why a domain name might not be available.
At the acquisition stage, there are just so many unknowns. That is, unless you leverage the standardized process of domain name acquisitions that we’ve outlined below. These four criteria should always be adopted and applied to any potential domain name acquisition.
Identify opportunity: It sounds simple, but there’s quite a bit that goes into finding the right domain name opportunity. What’s your long-term play? Are you going for potentially lucrative keyword domain names, or is the purchase intended for business or commerce? Are there established trademarks that could hurt your acquisition? It’s vital to get that strategic thinking done in the very beginning so you’re not set off course from the start.
Initiate discussion: Most investors or end users will shy away from a domain name that’s taken. That’s a big mistake. While it might seem impossible to wrestle away a taken domain name, at nameexperts.com, we’re committed to making opportunities happen, not just waiting for them. In some cases, it’s as simple as knowing when and how to make the right call. Alternatively, you need to know the proper contact. This is not always easy to establish.
Negotiate: There are few worse feelings than leaving money on the table. And chances are, without the help of a trusted advisor, you won’t maximize your investment. Having a deep understanding of the competitive landscape through a domain broker gives you a huge leg up in any negotiation. Hiring an expert can save you thousands of dollars every time.
Contract and Execute: Once price and terms are agreed upon, we make the rest of the process quite simple. At that point, it is just a matter of drawing up contracts and paperwork, verifying escrow, and then transferring the domain. After the transfer is done to the registrar of your choice, we’ll confirm the transfer, and you’re ready to start leveraging your new domain name.
Take the time to breakdown these components when trying to secure your perfect domain name acquisitions for your company or brand. Proper diligence can go a long way and save tons of money in the long run.
Below, we answer a few Frequently asked Questions, when attempting to secure a domain name acquisition.
What is a Domain Buy Service?
Domain Buy Service providers are companies or individuals that have a general understanding of the value of domain names and help clients identify, contact and negotiate fair market pricing for the relevant asset in question. This professional should also be able to identify opportunities and provide recommendations on alternative domain name targets for their client.
The Domain Buy Service should assist with the entire process, and coordinate all communication and back-and-forth between buyer and seller.
How Do I Buy a Domain Name I want?
The first step should be to navigate to the domain name in question in your browser to see if the domain name is currently resolving. Is there a website? Double check your budget. Are you trying to buy a single word, .com but only have five hundred dollars to spend? That’s not going to work for anyone. Make sure you research your name to understand if it’s even attainable.
Spend the time upfront to run simple research for your brand. You need to get it right the first time.
What are the Best Domains To Buy?
This one can be tricky. Ultimately, it comes down to cost. For an end-user, they should be looking for their category defining, beachfront real estate—however, they can’t always afford the best fit for their brand. Alternative domain strategy is crucial. You need to have a back up you can use if your primary target is no longer available. Globally, .com is the commerce leader and recognized all over the World. Choosing the best domain name will depend on your budget, timing and Company strategy.
If you are smaller-type business or startup, you might want to target something more affordable with lower value—until you have solid footing to establish more of a global presence for your brand.
How do Domain Brokers Work?
There are many ways domain brokers can successfully broker domains and make a commission on the deal. Most brokers will be paid a success fee either from the buyer, or seller on any successful transaction. Some brokers exclusively are compensated by the buyer in a transaction—while others carve-out commission on the seller’s side of the equation.
Alternatively, some domain brokers like to use the flat-rate model where they are paid a fee, regardless of success in the acquisition process.
Why you should hire a Broker?
Expert domain brokers are valuable. They remove the emotional attachment for both buyers, and seller. They provide, third-party appraisal insight including the current market conditions. They can tell you what’s moving in the market, and have the pulse of the liquid market. Domain Brokers offer insight and expertise on proper alternatives and other suitable fits for your brand. They have all relevant knowledge and tools to help identify, contact, negotiate, execute, escrow and transfer your domain name so you can focus on what you do best! Professional Domain experts and brokers are more than relevant to your Companies acquisition strategy and should be utilized effectively to secure your global domain name acquisition.
Some of our past domain acquisitions on behalf of our clients. We encourage you to get in touch today, to learn more about our services. Investor.com, JLR.com, Mode.com, & Addiction.com