The position is self-explanatory: a domain broker is the go-between for buying and selling domains. Not all domain sales go through a domain broker, but if you’re on the fence as to whether you need one, here is what you should expect from a competent one.
• What You Don’t Want
No one wants to be solicited with spam. If your impression of a domain broker has been associated with emails every site owner gets about someone wanting to buy their domain name with foreign extensions, you may be discouraged from using one. A broker linked to a reputable company doesn’t need to resort to chasing you down.
Pushiness. We don’t like it when we go shopping in the stores. We don’t want it when we’re buying or selling online.
• When A Broker is Working for You
A broker linked to a reputable company will contact you as a result of a lead, i.e. you filled out a form. The big domain brokerages receive hundreds of inquiries/day.
For the seller, the broker’s job is to get your domain exposed and come to you with offers. Your broker should let you know if your price is in line. Your broker should encourage you to price your domain, since a price tag will make it ten times as likely to sell. Your domain should get exposure by receiving bids and making counter offers as well as getting exposure through an auction marketplace. Good domain brokers will work to sell your domains, suggesting them to current customers who make a good fit. Once you own the domain, the broker should be able to assist you with hosting and parking services. When you park your domain with a listing service, that service will be available in the event you decide to sell down the line.
For the buyer, the broker offers privacy. The seller will not know your identity and how motivated you are to buy. The broker can approach domain owners who are not offering their domains for sale on your behalf. His/her job is to negotiate the best possible deal on your behalf.
The process for both sides should involve and escrow service which means the buyer’s funds are held in account until the domain is transferred.
A good brokerage service should increase your chances of selling your domain and getting closest to your asking price. The more realistic you are with your pricing, the more your broker can do on your behalf.
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What factors do you consider when approaching a domain broker? Do share your opinion in the comment section, we’ll be glad to hear from you.
Written by Afternic.com – Edited by Nizam Khan