Epik Escrow as a broker

[NameAgency]

I usually use escrow.com for my higher domain sales and most of the times when I act as the broker.

I've recently been reading a lot about epik escrow service and looks quite easy when the deal is buyer-seller only, but not so clear when a broker is involved (there is only an email broker field to be entered)

I'm used to escrow.com' "create a transaction as a broker", enter the buyer and seller emails, the domain, price and broker's commission, who pays escrow fees, who pays broker commission, etc.

How to determine broker commission and other details in Epik escrow? everything has to be detailed in the message box?

Thanks for your help

 

[Bob Hawkes]

@Rob Monster would be best to answer this so tagging him, or so he can alert someone else at Epik best to handle this. It is an important question and some standard short precise wording would probably be of interest to many.
Bob

 

[Rob Monster]

You can start a transaction here:

https://escrow.epik.com/

You can start it as a broker as a logged out user. You will see this:

You can add notes with regards to allocation of proceeds, or other instructions. An escrow manager will then get in contact to coordinate next steps. This is 24/7.

In some cases, transactions are set up as what we call "broker spread" where the buyer and seller see different prices because the broker is banking a spread. We typically set these up as 2 transactions with a concurrent close where there is a buy transaction and a sell transaction. Contact us for details.

@DanSanchez or @Sufyan Alani or I can be a resource for managing any specific questions. Escrow manager, @Tony Blessed ([email protected]) is doing an awesome job for a lot of people so I encourage anyone planning to do escrow deals to get to know him.

 

[NameAgency]

Thanks @Rob Monster for your quick reply.

I've just realized that the option to fill the broker's email appears only when not logged in. When logged in only 2 options are shown: "I'm a seller" and "I'm a buyer".

Well, sounds a bit confusing. Looks like everything has to be specified in the message text box. Probably the best option is to directly contact @DanSanchez (with whom I have worked in a couple of deals and totally trust) or @Tony Blessed and provide him all the details of the transaction.

I'm sure most brokers would feel more comfortable tu use Epik's escrow if some of the escrow.com specs mentioned in my first post were available.

It's an opportunity for Epik. Escrow.com is being a bit harsh lately and buyer/seller veritications sometimes introduce friction in this last (and important) phase of a sale. A serious alternative in the market would be welcome.

 

[Dealtor]

@NameAgency

I will look out for your email.

You can actually create a transaction as a broker on the escrow form. To do it:
(1) setup the buyer and seller emails;
(2) set up the buyer payment currency and sellers redeeming currency;
(3) setup the domain and its price in the buyer's preferred currency; and
(4) set the terms for escrow fees; and how the broker fee will be paid, e.g. either buyer or seller. In case not aware, we also have the options to lease and pay by installment.
We also have the ability to buyer and/or seller to fund with crypto and even AliPay or UnionPay, which are popular for Chinese buyers.

To get started, all that is needed here is to provide the right information and then our team will manage the rest.