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James Iles

Expert Exchange: What Are Your Top Tips for Successfully Closing a Domain Deal?

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By James Iles, Aug 8, 2018
  1. James Iles

    James Iles NamePros Writer PRO Gold Account VIP Trusted Blogger

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    Our panel of expert domain name brokers have collectively closed hundreds of domain name deals worth millions of dollars. They have successfully refined their skills and can now be considered to be some of the best brokers in the industry.

    In this edition of Expert Exchange, we’re lucky enough to receive some top tips from nine brokers, giving advice on how to successfully close a domain deal.

    What are your top tips for successfully closing a domain deal?



    @Joe Uddeme, Founder of NameExperts LLC


    @Jen Sale, COO of Evergreen.com

    rsz_closing.jpg


    @Bill Sweetman, CEO of NameNinja


    George Hong, CEO of @GUTA


    @Giuseppe Graziano, CEO of GGRG


    Kevin Fink (@iHaveThisIdea), COO of Starfire Web Holdings


    @Dave Evanson, Senior Broker at @Sedo


    @Hobi Michalec, Co-founder of Lumis Group



    @Mike Robertson, Director of Business Development, Fabulous.com


    These responses have been edited for clarity.
     
    Last edited: Aug 8, 2018
    The views expressed on this page by users and staff are their own, not those of NamePros.
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  4. James Iles

    About The Author — James Iles

    Writer for NamePros.com. For all inquiries relating to stories and interviews, please email: [email protected]

    This is James Iles's 564th blog post on NamePros. View all blog posts

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  5. Comments (9)

  6. Haykay2005

    Haykay2005 Active Member VIP

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    Nice tips there
     
  7. 1Darko

    1Darko Active Member VIP

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    Great read - thanks!(y)
     
  8. Tom K

    Tom K Established Member

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    I think @Bill Sweetman nailed it with the 3 p's. From the position of the seller the 3rd p, professionalism, not only includes communication skills but also professional presentation. End user buyers are very skeptical, as any of us would be in their position. The more trust you can build at the outset, then reinforce it with professional communication, the more likely you will win the sale. And patience is critical as buyers (especially business owners) will try to test you. So you need to understand the value of the domain and not appear desperate to sell. If the domain has value, the buyer will come back even when the initial offer or even the counter-offer is rejected. And finally, persistence is important so you need to keep a record of the lead and remind them occasionally that the domain is available but it may be gone if they wait too long. End users are occupied with their day jobs so they are not on top of domain buying and selling like we are. I would also add, respectfully, EDUCATION. Sometimes you need to educate the end-user of the value of a quality domain. How do you do this? Primarily through your professional (there's that word again) sales page. Secondly, through professional (once more) communication via email or phone. If you don't educate them via the sales lander first, they may take it as simply salesmanship and may not have sufficient confidence, so both are really needed to work in conjunction.
     
  9. briguy

    briguy Guru In Remission! VIP ★★★★★★★★★★

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    Interesting tips! This one stands out for me!

    "@Mike Robertson, Director of Business Development, Fabulous.com
    I've worked on some deals, both on the buyer and seller side, that have taken over twelve months to complete."

    Now that is patience!
     
  10. Bob Hawkes

    Bob Hawkes formerly MetBob NameTalent VIP

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    I agree that @Bill Sweetman answer is superb and very complete in and of itself. Great advice!

    I also liked the answer by @Jen Sale in particular pointing out that many end users will not be domain knowledgeable and patience and being willing to provide guidance are critical.

    Many of the responses stressed the importance of being professional, which is key to success in many things including this industry!

    Thanks a lot for assembling these, and we can all learn from them!
     
  11. Max1000

    Max1000 Upgraded Member Blue Account

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    Superb article.
    Interesting that every one of the answers, in their different ways, and with of course different variations, basically said the same thing.

    Re
    - not in this field, but I've worked on deals that took years, literally, to come to fruition!
     
  12. briguy

    briguy Guru In Remission! VIP ★★★★★★★★★★

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    Yeah, kinda same here but different online (for me) used to discussing things over a few cold ones, a round or two of golf or at your kids soccer game,,etc
     
  13. elevator

    elevator DnCombo.com VIP

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    Combinations of professionalism, persistence, understanding and patience can be very great values for one who could take up those traits.

    Thanks and cheers.
     
  14. OmarVG

    OmarVG Active Member VIP

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    Top Tips for closing a domain deal: No tips, just Premium Domains...

    * Premium Domains sells by itself *
     
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