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Ever dealt with a domain broker?

Labeled as discuss in General Domain Discussion started by Arpit131, Jan 27, 2020.

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348

  1. Arpit131

    Arpit131 Top Contributor VIP

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    Hey...

    I have been looking at brokers and trying to understand how they function.
    One of the things that come to my mind is the picture of an outbound domainer who generates leads and then reaches out to a number of potential customers, does the negotiation and closes a sale.

    Except that in the case of a domain broker, he/she has to send out emails on both the ends:

    1) To the owner of the domain name, requesting permission to sell the domain name on their behalf.
    2) To the prospective leads, trying to close a sale.


    Is my understanding right or is it completely different from what my understanding is?

    Also, share the typical brokerage that a domain broker charges? Is it fixed or does it vary from deal to deal?

    If you have previous experience with a broker that ended up as a successful deal, it would great to hear your insight. If it failed, even better to know why!?
     
    Last edited: Jan 27, 2020
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  2. Ryan217

    Ryan217 NameBlitz Gold Account

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    Brokers word on a percentage commission but due to the time involved unless you have a 6 figure name or better (or maybe a very high five figure) they won;t take it on.

    However another thing they will sometimes do is list in on an email newsletter. But you will generally have to give them exclusive rights to sell the name for a period of time where any sale would have to go though them. I am trying this with one name I have that I have listed at 15k, I had to sign on to a 6month exclusive with them and will pay 15% if it sells but that's less than what Afternic charges and a good broker will have a lot of good buyers who subscribe to their newsletter. They haven't gotten around to listing it in their newsletter yet but I am curious to see if that'll generate any interest.
     
  3. biggie

    biggie Top Contributor VIP ★★★★★★★★★★

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    when you read thru wtb section, it seems everybody now has a client.

    but....

    there are brokers and there are borkers

    real brokers will contact you with offers from a prospective buyer

    borkers will send out spam emails, hoping to catch a bite

    real brokers have contacts and past sales history

    while borkers are trying to make contacts and build a sales history

    real brokers don't like to waste time

    while borkers are basically, time wasters

    I think knowing the difference is imperative, if you choose to use one

    imo...
     
  4. BlackCatsAreNice

    BlackCatsAreNice Restricted (15-30%)

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    Break Free Of Brokers!

    I have never understood the use of brokers in selling domains.

    If you are a savvy, intelligent man of means, all you need to sell domains are an email address and an escrow.com account.

    Keep ALL of your profits!
     
  5. Ryan217

    Ryan217 NameBlitz Gold Account

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    When you sell your house do you do for sale by owner or do your hire a real estate agent (broker)?
     
  6. BlackCatsAreNice

    BlackCatsAreNice Restricted (15-30%)

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    domains are not houses

    there are laws and regulations with real estate sales.
     
  7. Ryan217

    Ryan217 NameBlitz Gold Account

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    There are domains that'll cost as much as a house (6 plus figures). Just as a good real estate agent is valuable in extracting the most value from your house so is a good domain broker.

    Besides I'd much rather them spend their time finding the buyer so I can focus on things that are important to me.
     
    Last edited: Jan 31, 2020
  8. BlackCatsAreNice

    BlackCatsAreNice Restricted (15-30%)

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    If you have the right domains, you don't need any middleman to find buyers for you.

    The buyers WILL find you.
     
    Last edited: Jan 31, 2020
  9. secretagentdad

    secretagentdad Upgraded Member Gold Account

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    I mean guys that actually do demand generation and strategic customer pitching can be great.
    Happy to throw 5% to them.


    Scum bags looking to build up a price inventory to shop around or bottom fish can get bent.
     
  10. equity78

    equity78 Top Member TheDomains Staff TLDInvestors.com PRO VIP ★★★★★★★★★★

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    Exactly the best line in the movie Wall Street is not the most quoted "Greed is Good" but Rich enough not to waste time.
     

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