Are most of these "offers" scams?

[Jymzee]

Hi-- first post here!

We've owned a a pretty decent 3 letter .com domain name for nearly 20 years which is presently undeveloped. For some months now we're getting around a dozen email inquiries or offers to purchase the domain every week. Offers are all over the map from low 4 figure to mid 5 figures and the most credible sounding come from what apparently are domain name brokers. Obviously their interest is in reselling a domain to one of their clients-- which is understandable. Many are also written in Chinese which I have to translate with Google to read.

My skeptical nature has assumed that most all domain owners receive these types of solicitations and that a good portion are scams of one kind or another. I've read some accounts of how unreputable outfits operate with respect to domain names.

To this point we haven't really considered selling the domain but moving forward we want to consider all of our options. If we did decide to sell any input as to the best/safest route-- broker? auction site? pound a 4 sale sign in the ground??

 

[gilescoley]

The value of LLL.com names have increased a lot lately and there chinese love them, so they are probably legitimate offers.

I will drop you a PM

 

[Willox Perez]

Congrats on your first post and that is awesome holding it for 20 years. As gilecoley mentioned the value right now it is at an extraordinary high. If you have any thoughts of selling it then this is probably one of the best times to do so and maximize profit.

When it comes to the safest route to selling the domain you can use sites like Flippa, Godaddy Auctions, Sedo.com and NameJet.com just to name a few of the most common ones. You can also seek out legit big time brokers (search on here and on DomainSherpa.com) as they have access to some great investor and domain purchasing contacts. Of course there will be a percentage fee but there is a good chance they will get you a higher selling price.

When completing the transaction make sure to take advantage of escow.com which is a very safe way to finalize the sale. You took a nice first step as you will be able to do your due diligence on this forum and learn a lot.

- Will

 

[Nerevar]

FYI, 5 most resent LLL.com sales:
zcn.com 78,077 USD
ejb.com 41,900 USD
gxv.com 23,000 USD
fzd.com 65,000 USD
ljr.com 71,509 USD
Source: http://namebio.com/

 

[indiegrind]

If you want to agree to sell to an incomming offer, definitely go through Escrow.com. it will secure funds before you transfer the domain. There is a commission rate, but its not bad for the security of the escrow and they will work out any issues to help facilitate a smooth transaction

If you utilize a sales platform like sedo, afternic etc, or utilize a broker, be sure you are aware of the commission rates. They may be as high as 30%.

 

[Jymzee]

Congrats on your first post and that is awesome holding it for 20 years. As gilecoley mentioned the value right now it is at an extraordinary high. If you have any thoughts of selling it then this is probably one of the best times to do so and maximize profit.

When it comes to the safest route to selling the domain you can use sites like Flippa, Godaddy Auctions, Sedo.com and NameJet.com just to name a few of the most common ones. You can also seek out legit big time brokers (search on here and on DomainSherpa.com) as they have access to some great investor and domain purchasing contacts. Of course there will be a percentage fee but there is a good chance they will get you a higher selling price.

When completing the transaction make sure to take advantage of escow.com which is a very safe way to finalize the sale. You took a nice first step as you will be able to do your due diligence on this forum and learn a lot.

- Will

Thanks much for the insights Will. I'll do some digging into the links you posted. I have seen that most recommend escrow.com (although you typed "escow.com" ) and that does seem like the way to go should we decide to try and sell.

Not totally clear what the differences are between a broker, and auction sites. In the end don't they both effectively do the same thing in that they attempt to sell for the greatest amount of money and receive a fee for the transaction based on the sale price?

 

[indiegrind]

A good broker is an individual who has connections and contacts with a network of qualified domain buyers of the type you are trying to sell, or who will perform telephone, email or other outreach to potential suitors for you domain, then work with you on negotiating a price to your pleasing, then personally see you through the transaction smoothly. Brokers typically only will take on seller brokerage for premium names. They will still likely utilize escrow.com and either you or buyer pays escrow fees or they can be split. The broker will typically require 15-20% of the final sales price as their commission.

An auction site/sales platform is just like listing your domain on eBay. It gives you exposure to a broad untargeted audience shopping for domains. Most secure the funds or escrow the funds in some way as well and take a commission on the sale. Flippa probably has about the lowest commission rate and has its own escrow, but buyers on flippa are more likely to be domain investors looking for a good deal, than a business or enduser looking to develop the domain in their business who might be willing to pay more for it.

 

[Jymzee]

A good broker is an individual who has connections and contacts with a network of qualified domain buyers of the type you are trying to sell, or who will perform telephone, email or other outreach to potential suitors for you domain, then work with you on negotiating a price to your pleasing, then personally see you through the transaction smoothly. Brokers typically only will take on seller brokerage for premium names. They will still likely utilize escrow.com and either you or buyer pays escrow fees or they can be split. The broker will typically require 15-20% of the final sales price as their commission.

An auction site/sales platform is just like listing your domain on eBay. It gives you exposure to a broad untargeted audience shopping for domains. Most secure the funds or escrow the funds in some way as well and take a commission on the sale. Flippa probably has about the lowest commission rate and has its own escrow, but buyers on flippa are more likely to be domain investors looking for a good deal, than a business or enduser looking to develop the domain in their business who might be willing to pay more for it.

A very clear explanation-- thank you. In essence it seems that auction sites vs. brokers is somewhat like MLS listings vs real estate brokers for that industry. The former being more or less a dump of everything out there while the latter is apt to have more select offerings that suit their own business plan.

I would think that an ideal situation for a seller would be to deal with the final user of a domain and avoid the fees associated with a sale. But on the other hand as far as brokers go I can see the advantages of working with someone who knows a lot more about how to handle these types of negotiations and is capable of the making the kind of outreach you described.

Much to consider...

 

[Goncalo]

And do take security seriously - your asset has a high value and domain holders have been targeted by thieves - mainly through hacking email accounts or registrar accounts.

 

[Ms Domainer]

Be sure to vet any brokers carefully; sad to say, some bad actors operate in this biz.

 

[BMS]

You can see the recent LLL.com sales in here:

http://namebio.com/?s=wMzYDM2QjM