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

Labeled as advice in Domain Buying and Selling Discussion started by Radu054, Aug 7, 2019.

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  1. Radu054

    Radu054 Upgraded Member Blue Account VIP

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    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,
     
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  2. Zikion

    Zikion New Member

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    You just lost a potential sale
     
  3. BuyBrandWeb.com

    BuyBrandWeb.com Praveen Chidaboyina PRO Gold Account VIP

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    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!
     
  4. jideofor

    jideofor Top Member VIP

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

    MapleDots Domain Properties 2010 - 2019 VIP

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    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
     
    Last edited: Aug 7, 2019
  6. Radu054

    Radu054 Upgraded Member Blue Account VIP

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    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.
     
  7. DomainRecap

    DomainRecap Top Member VIP

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

    DomainFQ.com Contact : [email protected] Gold Account

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    Correct
     
  9. xynames

    xynames XYNames.com PRO VIP

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    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.
     
    Last edited: Aug 7, 2019
  10. DomainRecap

    DomainRecap Top Member VIP

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    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.
     
    Last edited: Aug 7, 2019
  11. xynames

    xynames XYNames.com PRO VIP

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    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” :xf.grin: but that’s not mine. Or The Godfather’s.

    Anyway I’m putting a practice down not any person.
     
    Last edited: Aug 7, 2019
  12. DomainRecap

    DomainRecap Top Member VIP

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    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.
     
  13. MapleDots

    MapleDots Domain Properties 2010 - 2019 VIP

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    I
    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.
     
  14. xynames

    xynames XYNames.com PRO VIP

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    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.
     
    Last edited: Aug 7, 2019
  15. MapleDots

    MapleDots Domain Properties 2010 - 2019 VIP

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    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.
     
  16. MapleDots

    MapleDots Domain Properties 2010 - 2019 VIP

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    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 :xf.wink:
     
    Last edited: Aug 7, 2019
  17. xynames

    xynames XYNames.com PRO VIP

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    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.
     
  18. Internet.Domains

    Internet.Domains Top Member VIP

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    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).
     
  19. biggie

    biggie Top Member VIP ★★★★★★★★★★

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    Hi

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

    imo...
     
  20. DomainRecap

    DomainRecap Top Member VIP

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  21. bmugford

    bmugford www.DataCube.com PRO ICA Member VIP ★★★★★★★★★★

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    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
     
    Last edited: Aug 8, 2019
  22. Miro Baranasic

    Miro Baranasic Established Member

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    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.
     
  23. myfavorite

    myfavorite Established Member

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

    Jurgen Wolf Top Member VIP ★★★★★★★★★★

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    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.
     
    Last edited: Aug 8, 2019
  25. onni

    onni Domainer VIP

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    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.
     

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