discuss Domain Brokers

[lknights1987]

Can someone please tell me what steps a domain broker takes in order to sell domains?

 

[noneisnone]

i also would like to know

 

[gilescoley]

A broker will sell your name for you for a commission

You agree on a price for the name
You sign an agreement with the broker
He will sell the name for you
You get paid and and he takes his commission

Brokers will often only take on decent names they feel they can sell, so dont expect a broker to just take on any hand-registered name.

Thats pretty much it.

 

[lknights1987]

But what is the process for a domain broker? Like first of all do they send out emails to companies letting them know that there is a domain available to buy matching there niche?

 

[gilescoley]

But what is the process for a domain broker? Like first of all do they send out emails to companies letting them know that there is a domain available to buy matching there niche?

Yes, thats the only way they will sell you names, some may call as well rather than email. Some brokers have contacts and investors they may sell to on a regular basis.

I broker names for people on occasion and I have list of end-users I have sold names to through my LinkedIn page. I have brokered other peoples names to them as well in the past. Its about building relationships and its a lot easier to sell names to people you have sold to before and they know and trust. you. Saves on transation/Escrow fees as well.

 

[Kingslayer]

It would be something you'd need to discuss with a potenital broker.

I've learned my lesson with not asking enough questions on that, i went with a high profile company for one of my domains, i could say lots of things how poor and unprofessional they was, but basicly in a nutshell, just sat on domain, did nothing and even ignored my e-mails chasing up asking for updates.

Problem is once you sign a contract with one of these brokers, that's it, you can't do anything yourself with your own domain for usually 6 months, some even want ties to your domain (in some shape or form) even after the term of the contract is over and representation as ended, read through the terms of the contract on things like that.

Discuss with a potenital broker the plan for selling your domain. If you are happy with what they say, go for it, if not, stay away, I know i personally will never go with a broker again usless:-

1) It's a broker who primarly targets end-users (ie using their contacts on LinkedIn/eMailing companies or phoning potenital buyers up), not doing something what i can do and advertising the domain on NamePros.
2) Gives updates at least once a month what they've been doing to sell the domain.
3) There's a get out clause (no questions asked) for both parties after 2 months, i think after 2 months both broker and domain owner will know if they are the right person to represent the domain or not.