Domain Brokers Are...

[Doughmange]

Hi All!

I went to buy a domain on GoDaddy and found one I liked that was sitting there for a few weeks, but the price was a touch high for the name (for me).

It was a plural .COM domain. Here are some similar names with similar recent sales
texted.com $1850
hardboiled.com $2551
motorized.com $2700 USD

I contacted the seller and they went from $5000 to $4000, my budget was $3000.

I asked if they would accept that, they then replied with "I might have priced this too low and I'm hiring a broker."

Three questions:
1 How often does this happen to you when trying to buy domains?
2 How can I avoid someone backing away from a negotiation and seeking a 'broker'.
3 How do I respond to someone who tells me they have hired a 'broker'

People always think their property is worth more than it is, but I don't get how someone goes from $4k to 'broker' when met with a $3k offer. I'm fairly new to the game, so any pointers are appreciated.

Thank you in advance NamePros family, any pointers are appreciated.

 

[Chris Hydrick]

they then replied with "I might have priced this too low

Do you know the history of the domain? ie How long has it been actively marketed for sale?

I say this, because if the owner has been actively selling the domain for a while, he/she may have received offer(s) that would indicate a sign that the domain may be under valued.

Have you researched the domain owners other domains? Do you know if they are a domainer, hobbyist, or clueless owner?

I'm hiring a broker."

Well, now with a broker involved, the price increases given commission fees. And at this point, a broker may tell the owner to take the offer $3k offer and run. Or the broker could recommend playing hard ball, and increasing it to a point where $5k seems like a steal. Will be interesting to see which broker he/she hires...

3 How do I respond to someone who tells me they have hired a 'broker'

(a) Buy at BIN
(b) Call the bluff, and say your offer is only good for X amount of time, otherwise you move on. You risk them coming back with a timeline of their own. At which point, stick to your bluff if you're OK with losing the domain. And if it's meant to be, they may come crawling back, discount in hand.

Without knowing the domain, it's hard to say. The answer also depends on how bad you want the domain, and/or how devastated you'd be if you passed on buying it for $X,XXX and the domain ends up fetching $XX,XXX+.

 

[Doughmange]

Have you researched the domain owners other domains? Do you know if they are a domainer, hobbyist, or clueless owner?

Clueless owner.

It's not an amazing domain, probably would fetch $1500 - $2000 here on the forum. I just have an affinity for it, but also don't care what happens either way. It's a like to have, not a must.

(a) Buy at BIN

They removed it from the GD platform, wasn't interested in paying $5k anyways.

Call the bluff, and say your offer is only good for X amount of time, otherwise you move on.

Did both of these things, gave them a final time and also politely replied that I am not interested in talking to anyone but the owner.


My main question is how to avoid going from his initial $4k offer to "I love brokers".

I guess I know the answer based on how others approach me for my domains... I should I play the poor impoverished grad student making a blog.

At this point I've walked away from it. Next time I will hear something is when he will come back to sell.

 

[siravi]

Hmmm........interesting to know thanks for sharing it.