Buying a Domain Name, Target the right contact person.
Equally critical, is the point-of-contact. Establishing the Whois, is just the start of the connection. Some domain owners are very large, corporate power-houses that own hundred, or perhaps, thousands of domain names. They are your communication or, “bridge” towards a potential deal.
Amazon.com is a perfect example. Let’s dig a bit deeper in a simple case study. Amazon owns more than 41,152 domain names in their portfolio. Many of their domains go unused, and do not resolve. How do you find the correct person within Amazons’ 647,500 employees?
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.
After contact is established, you need to determine whether the asset is indeed available—is it within budget and Scope? What’s it worth to you?
Partner With A Broker and Decide 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. If they are actively using the domain and spent time and money to acquire it, then you’ll want to make them a fair offer.
We suggest not taking a bargain-basement approach, and instead partner with a domain broker who can tell you what the domain is actually worth. We’ll tell you what the fair price is and can help you make a great offer they can’t refuse.
Negotiate without emotional attachment
Whatever you do next, don’t become emotionally attached to the asset, or transaction. Ultimately, this would add headache, stress and more money to the equation. When buying your domain name, you must not become emotional with any owner. Emotions should be checked at the door when entering into any active negotiation. Remember that a negotiation is a give-and-take and should always try to create a win/win for both buyer and seller.
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.
Domain Transfer of Ownership
So now you have made proper contact, negotiated a price, handled the paperwork and setup the Escrow transaction. The buyer has agreed to terms, and funded 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.
Name Experts Can Help You Buy A Domain Name Anonymously
When it comes to how to buy a domain name from someone else, we know it can feel a little overwhelming. But at Name Experts, we’ll take the time to go over each part of the process with you so that you can secure the right domain name for your company. Working with successful brokers like us can save you a lot of time, money, and hassle when it comes to getting the domain name you want.
When you work with us, you’re getting an experienced broker who has the knowledge of current market insights and the chops to negotiate and compromise on your behalf. Let us help you get the perfect domain domain name today – reach out to us and let us help you grow your business.
We’d love to answer any of your questions about our services and get you feeling more confident when it comes to buying and selling domains.