- Impact
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What’s the record for the biggest/fastest domain flip that you know of?
Does the "broker" get a commission from either buyer or seller?1. Broker finds a buyer at Price X
2. Broker finds a seller at Price Y.
3. Simultaneous close via intermediary (e.g. Epik)
4. Broker banks the spread net of fees.
That's easy.
We see these deals all the time:
1. Broker finds a buyer at Price X
2. Broker finds a seller at Price Y.
3. Simultaneous close via intermediary (e.g. Epik)
4. Broker banks the spread net of fees.
There are some smart domain guys doing this on a regular basis and banking large spreads with relatively little risk because they own the domain for about 1 minute.
And now you know.
For clarity, are you talking about a deal like this?
I see EpikExample.com (example) has a "for sale" landing page. I reach out to you to ask the price and you tell me you will sell me the name for $5,000. I then reach out to various people who might want to buy the domain name and offer to sell it for $7,000. This effort is successful, so I buy the name from you via Epik for $5,000 and I immediately sell it to someone else via Epik for $7,000 and make $2,000 profit with a 1 minute hold.
Does the "broker" get a commission from either buyer or seller?
I once flipped a domain within an hour. I hand regged the name, mentioned it on here (NP), accepted an offer, got paid and pushed the domain. Complete process in less then one hour...Granted, it was only a $50 sale. It was more about accomplishing a "fast flip in the West."
I think the fastest has to be my sale of I/n/v/e/s/t/i/g/a/t/o/r.org...bought it at $700 here on np and sold three hours latter to end user for $4999
https://www.namepros.com/threads/report-completed-domain-name-sales-here.83628/page-733
Sick. Was it outbound?
No buddy. Afternic bin accepted haha...did zero work
Yes, and that method is more commonly done than you might realize.
Do you think it is ethical to solicit offers for someone else's domain name without their permission?
Do you think it is legal to try and sell someone else's domain name without their permission?
I have seen quite a few UDRP cases where the complainant cites an outbound sales pitch as evidence of bad faith. Imagine if a UDRP was filed against your name because some unauthorized third party tried to aggressively sell your domain name to a trademark interest without permission from your or regard for harming your rights. Not only would defending a UDRP incur legal costs, but even if the registrant prevails, it could devalue the domain name because a future prospective buyer would know there risk for a subsequent UDRP exists.
The intermediary also runs the risk that one party backs out of the deal and he or she could be on the hook. If the buyer backs out, the person could be left with a domain name they bought for too much money hoping for that flip. If the seller backs out, they will not be able to fulfill their sale obligation.
By calling people who do this "smart domain guys," it might encourage someone to think this is a widely accepted practice. I do not believe this is ethical (not sure on the legal aspect ), and I presume others might feel the same way as I feel. I also think this is a risky practice, especially if they are caught doing it.
I think this can be reputationally damaging, if not financially damaging.
1. Broker finds a buyer at Price X
2. Broker finds a seller at Price Y.
Do you think it is ethical to solicit offers for someone else's domain name without their permission?
Do you think it is legal to try and sell someone else's domain name without their permission?
Somehow we went from:
To:
I think those are two completely different things.
There are many industries that live by the motto: "find a buyer first"Nah, I think they're talking about the same thing, i.e. trying to find buyers for a domain you don't own yet. Then when you find one, you buy the domain. It's a very obvious thing to do and I would be surprised if there weren't many people doing it.
/cut
No, they are not different things. That is why I asked a specific question first to make sure I was not making an incorrect assumption.Somehow we went from:
To:
I think those are two completely different things.
There are many industries that live by the motto: "find a buyer first"
Realtors and auto brokers are two that practice this method.
Most recently it was discussed on the hit show "Undercover Billionaire."
https://www.google.com/amp/s/hiddenremote.com/2019/08/05/undercover-billionaire-exclusive-clip/amp/
Most people assume that the person who emails them either owns the name or has permission to sell it. Over the years, I've probably only had 10 people ask me if I own a domain name or ask me to confirm that I have permission to sell my domain name. I usually direct them to email me via Whois or the contact form on the landing page to confirm.I don't understand how that would ever work. As soon as the buyer hears ''I don't own the domain but I can get it for you'', he will immediately type in the domain name in the address bar and see the landing page. If not, he will find it on google or whois or wherever and contact the owner directly.
What your saying is different than what was mentioned by Rob.No, they are not different things. That is why I asked a specific question first to make sure I was not making an incorrect assumption.
Realtors obviously have a contract with the seller before they spend time and money marketing a home for sale. In fact, I think it would go against the NAR code of conduct if a Realtor tried to sell a home without permission from the homeowner.
What your saying is different than what was mentioned by Rob.
Many times realtors find buyers first. Then they find a house. That was the method mentioned initially.
Somehow it went from that to front running. There is a difference.