advice Buyer would like to do the sale through GoDaddy - commission too high

Radu054 · Aug 7, 2019

Hi guys,

I have a person interested in purchasing one of my domain names after outbound, but they would like the transaction to go through Godaddy ( not Dan, Epik or Sedo escrow). The name is at Namesilo so the only possibility I see is through Afternic or if I transfer the domain to my Godaddy account and put it as Godaddy premium listing.

The only issue I have is that I did outbound for this name and Godaddy would charge me 20% commission for nothing, whereas Dan.com would charge 5%+VAT ( importing lead). I told the potential buyer that we can do the transaction through Godaddy if they can cover the difference in commission, but I didn't get a reply back.

Do you know if Godaddy has something just for escrow (like sedo escrow, epik escrow or dan.com) with a smaller commission?

Thanks,

Zikion · Aug 7, 2019

You just lost a potential sale

BuyBrandWeb.com · Aug 7, 2019

Add it to Namesilo marketplace and ask him/her to purchase from Namesilo marketplace. Mention that the domain will be added his/her account instantly once the payment cleared. This might work!

jideofor · Aug 7, 2019

They already told you it is Godaddy or nothing. Do it bro. Godaddy sould also consider an escrow option.

MapleDots · Aug 7, 2019

The seller is in charge not the buyer.
If the buyer won't accept your terms then he is not a buyer, he is just dicking you around.

Either you want the domain or not

By reading the second post I assume someone is playing games. If that is the buyer then he is not worth wasting time on. Move on and focus on a real sale.

Edit...

Look at the words of the second post...

Potential sale....

Another way of saying I want to waste your time.

Is it a sale or not? there is no in between

Radu054 · Aug 7, 2019

MapleDots said:
The seller is in charge not the buyer.
If the buyer won't accept your terms then he is not a buyer, he is just dicking you around.

Either you want the domain or not

By reading the second post I assume someone is playing games. If that is the buyer then he is not worth wasting time on. Move on and focus on a real sale.

Edit...

Look at the words of the second post...

Potential sale....

Another way of saying I want to waste your time.

Is it a sale or not? there is no in between

I followed-up and I'm expecting a reply today (BIN or BIN+difference in commission). I am pretty sure that the interested buyer is not a member here so I'm not gonna comment on the second post as it'd be a waste of time.

I'll update the post if the deal goes through.

Thanks for the reply.

DomainRecap · Aug 7, 2019

MapleDots said:
By reading the second post I assume someone is playing games. If that is the buyer then he is not worth wasting time on. Move on and focus on a real sale.

Yeah, I'm almost expecting a "we also need an appraisal" email to come through soon.

DomainFQ.com · Aug 7, 2019

BuyBrandWeb.com said:
Add it to Namesilo marketplace and ask him/her to purchase from Namesilo marketplace. Mention that the domain will be added his/her account instantly once the payment cleared. This might work!

Correct

xynames · Aug 7, 2019

I’ve had buyers who contacted me directly but insisted on Afternic (I assume because they had a GoDaddy account) but that was where I had the domain already listed at Afternic. Sometimes I’m able to convince them to buy directly from me sometimes not.

As The Godfather put it, “Mention it, don’t insist.”

There are some contrary ideas above but they’re mostly from people who haven’t sold a lot of domains haven’t dealt with this situation enough to know that putting too many (or even any) hoops in front of a willing buyer might ruin a sale.

DomainRecap · Aug 7, 2019

xynames said:
There are some contrary ideas above but they’re mostly from people who haven’t sold a lot of domains haven’t dealt with this situation enough to know that putting too many (or even any) hoops in front of a willing buyer might ruin a sale.

Wow, that's assuming a whole lot, as most of us know that MapleDots (the most adamant of the replies) has bought and sold a lot of domains, and for a significant amount of money. He deals with "potential customers" all day, has heard all the stories, and has a method that works for him.

But overall, falling into the "customer is always right" trap can get you into trouble, and as we don't know the dollar value here (i.e. is it $100K or $1K) it's almost impossible to make judgement calls.

If someone wanted to buy something from me for 6-figures, it would already be at GoDaddy waiting for him, whereby if someone was demanding all kinds of stuff for a $XXX to low-XXXX, I would certainly not be as quick to oblige.

The "potential" customer is not always right, and it usually comes back to the Golden Rule, he who has the Gold makes the rules.

xynames · Aug 7, 2019

MapleDots has mostly bought domains he hasn’t sold any of the domains he’s bought in recent years.

What he’s sold was very old inventory which he won’t ever tell us what it is or report it in any journal for verification. Which is fine but it doesn’t reflect “selling a lot of domains” or a lot of domain selling experience.

One thing MapleDots does is force any direct inquiry he’s received to go to his landing page where in small text within his contact us form is a minimum offer blaring right in the form that the potential buyer must type over to input his offer. I won’t get into an analysis of what that means. If you don’t know you’re not a big or frequent seller. It therefore makes sense that MapleDots’ philosophy would be “Insist, don’t mention”

but that’s not mine. Or The Godfather’s.

Anyway I’m putting a practice down not any person.

DomainRecap · Aug 7, 2019

xynames said:
Anyway I’m putting a practice down not any person.

I totally understand, and I have a slightly different interpretation and approach than either of you, and lean towards more of a "buyer and seller are on equal ground" stance.

i.e. "The customer is not always right" and "the buyer is not fully in charge". You make a concession, so does the other party.

MapleDots · Aug 7, 2019

I

xynames said:
MapleDots has mostly bought domains he hasn’t sold any of the domains he’s bought in recent years.

What he’s sold was very old inventory which he won’t ever tell us what it is or report it in any journal for verification. Which is fine but it doesn’t reflect “selling a lot of domains” or a lot of domain selling experience.

One thing MapleDots does is force any direct inquiry he’s received to go to his landing page where in small text within his contact us form is a minimum offer blaring right in the form that the potential buyer must type over to input his offer. I won’t get into an analysis of what that means. If you don’t know you’re not a big or frequent seller. It therefore makes sense that MapleDots’ philosophy would be “Insist, don’t mention” but that’s not mine. Or The Godfather’s.

Anyway I’m putting a practice down not any person.

Actually, I sold 3 just last month, you assume too much just because i don't brag about it. Sold one to a Vancouver online store for 35k.

xynames · Aug 7, 2019

It’s as I said.

xynames said:
What he’s sold was very old inventory which he won’t ever tell us what it is or report it in any journal for verification. Which is fine but it doesn’t reflect “selling a lot of domains” or a lot of domain selling experience.

Anyway practices are what we should concentrate on and rigidity in directing buyers versus flexibility isn’t the way to go.

MapleDots · Aug 7, 2019

Too many copy cats in .ca

The larger sale I only owned a few years, if I report it everyone will copy similar. I am currently registering over 100 similar domains before word gets out.

Back on topic I would not waste time on someone who asked me to go GoDaddy, I sell my domains in house only.

MapleDots · Aug 7, 2019

xynames said:
It’s as I said.

Anyway practices are what we should concentrate on and rigidity in directing buyers versus flexibility isn’t the way to go.

If you have an online store you sell online, one cannot make custom requests for pickup. One has to buy the way the sale is offered. If they only take credit card one cannot request debit.

I sell my domains in house, if you ask me to use Any service I say sure, please add the fees.

So you see I am very flexible

xynames · Aug 7, 2019

Well, at least the way you are doing it I assume you do not have listed in Afternic Sedo etc. no place else? That is one thing.

But in my case I list everywhere so if someone contacts me directly I'd look hypocritical insisting that they not buy from one of those places I have listed. So I "Mention it, don't insist" that they buy directly from me, and I am straightforward about why...saying that if you buy from there I'll have to pay 20% commission and therefore would not be able to accept your offer.

I have had some buyers who simply will not do it, they trust their GoDaddy too much, and in those cases I have gone ahead and sold it via Afternic which for them means, GoDaddy.

Internet.Domains · Aug 7, 2019

Sales are about compromise. Due to the the OUTBOUND aspect you have lost a little leverage. For that reason, to close the sale, you may need to oblige to some of the buyers demands.

It would be a completely different story if the potential buyer reached out to you (INBOUND).

biggie · Aug 7, 2019

Hi

why not ask buyer pay the commission fee or maybe you can split the cost

imo...

DomainRecap · Aug 7, 2019

biggie said:
why not ask buyer pay the commission fee

I told the potential buyer that we can do the transaction through Godaddy if they can cover the difference in commission, but I didn't get a reply back

bmugford · Aug 8, 2019

Radu054 said:
Hi guys,

I have a person interested in purchasing one of my domain names after outbound, but they would like the transaction to go through Godaddy ( not Dan, Epik or Sedo escrow). The name is at Namesilo so the only possibility I see is through Afternic or if I transfer the domain to my Godaddy account and put it as Godaddy premium listing.

The only issue I have is that I did outbound for this name and Godaddy would charge me 20% commission for nothing, whereas Dan.com would charge 5%+VAT ( importing lead). I told the potential buyer that we can do the transaction through Godaddy if they can cover the difference in commission, but I didn't get a reply back.

Do you know if Godaddy has something just for escrow (like sedo escrow, epik escrow or dan.com) with a smaller commission?

Thanks,

For years, ever since the commission went up to 20%, I have recommended that GoDaddy add some sort of escrow option for leads you bring.

I used to often complete deals via GD auctions when the commission was 10%.
It was a little more than Escrow.com but more convenient to the buyer and seller.

Escrow.com can be a pain now with the KYC rules. GoDaddy already handles in house payment via Afternic and premium listings. They are certainly capable of doing it.

I am not going to bring the lead and pay 20% as well, but I would be willing to pay 10%.
I think that type of option would be beneficial both to GoDaddy and customers.

Brad

Miro Baranasic · Aug 8, 2019

List the domain at Afternic and then domain will be available for buy at Godaddy also. Only problem is that you will need to wait that 60 day lock period pass and after that you will be able to transfer the domain away from Namesilo.

myfavorite · Aug 8, 2019

If you've already agreed on a price, then consider your ROI after deducting the 20% then decide either to sale or not.

Jurgen Wolf · Aug 8, 2019

I had the same case ~1.5 years ago with some Spanish company in mid $X,XXX range...
They rejected all other escrow options... but agreed to add 20% above my price.
Some buyers are really very strange and even idiotic.

Brian L. · Aug 8, 2019

It’s understandable from the perspective of a novice. GoDaddy is probably the only company your buyer is familiar with. If they’re really interested, they’ll be willing to pay a surcharge for piece of mind.

advice Buyer would like to do the sale through GoDaddy - commission too high

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