How do you handle a "failed" brokerage

[Houssaine]

Hi everybody,

I've received two inquiries on two distinct domains at UniregsitryMarket and a broker handled the negotiation on my behalf. It's been 10 days since then and the broker didn't get any response to his emails and I suspect his quoted price to be the reason.

Indeed, his quoted price is in the high $X,XXX for one domain and in the low $XX,XXX for the other and I don't think the inquirers will reply any soon.

What are my options from here on? Wait and give my broker more time to get a deal? Go without him and reach out to the inquirers with reasonable offers?

Knowing I hand registered these two domains for 10€ each, I'll be happy with a price in the low four figures.

Many thanks

 

[deez007]

I think in all fairness, you should give the broker a little more time. Especially considering these were hand registrations, it's not like u invested $1000's into buying the domains and you need to flip them quickly to recover the funds . You invested 20euro's into what could possibly get your $xxxxx's return on investment... even if takes you another month or two to close the deal...with that sort of returns... it's all good. Patience my friend, patience

I should add, I'm assuming you using a reputable a broker.

 

[Houssaine]

Thanks deez007 for your input. The broker has a good reputation and I do not question his skills. But still the inquirers didn't give any reply to his multiple emails, though I do think they were both serious buyers.

 

[biggie]

why not do your own negotiating?

 

[deez007]

Thanks deez007 for your input. The broker has a good reputation and I do not question his skills. But still the inquirers didn't give any reply to his multiple emails, though I do think they were both serious buyers.

Ahh these are two separate buyers...sorry mate I was under the impression that both domains were being offered to one buyer by the broker. Hmm if BOTH potential buyers are ignoring the broker then that's a bit odd. When I thought it was ONE buyer for both domains, I figured it could just be the person is taking his or her time to make a decision. Now knowing it's two separate buyers then it could very well be that you are spot on and the broker has over priced the domains. I think maybe give it a few more days and then if there is still no feedback then perhaps try make direct contact yourself with a lower offer.

 

[Houssaine]

why not do your own negotiating?

I let the brokerage option for some of my domains at Uniregistry as a test to see how professional brokers handle the negotiations and grab some techniques. And in fact they are well trained, but I don't like all their scripted pitches.

 

[biggie]

I let the brokerage option for some of my domains at Uniregistry as a test to see how professional brokers handle the negotiations and grab some techniques. And in fact they are well trained, but I don't like all their scripted pitches.

how do you know they are professional brokers....

how do you know they are well trained and or who trained them....

if they are using "scripted pitches"?

 

[Houssaine]

how do you know they are professional brokers....

how do you know they are well trained and or who trained them....

if they are using "scripted pitches"?

The broker who handle the negotiations is well known and I just assumed they are well trained by seeing my broker's emails. But I didn't like this particular email he sent " Hi xxxx did my emails get buried?". I know it is a scripted one because Morgan Lington made a post on the subject.

 

[Houssaine]

The broker who handle the negotiations is well known and I just assumed they are well trained by seeing my broker's emails. But I didn't like this particular email he sent " Hi xxxx did my emails get buried?". I know it is a scripted one because Morgan Lington made a post on the subject.

May be it was not Morgan Linton who wrote this post!

 

[wentzco]

Well a few weeks ago I decided to switch from Sedo parking to DomainNameSales & let them handle the inquiries as well on most of my domains. Why? Quite honestly it was for this reason at http://www.dnjournal.com/archive/domainsales/2015/20150218.htm - their brokers were getting the job done at strong selling prices. I'm sure there were plenty of non-disclosure sales that weren't listed there as well.

Now I've had 6 inquiries & only one of those responded & they weren't a serious buyer. That's the way it goes - it's a numbers game. On each of those inquiries the broker contacted me before asking "We would appreciate it very much if you could provide us with an up-to-date price and verify that you are still the owner of this domain name." The brokers then quote a price about 20% above my quoted price. I assume that is what is happening in your case as well.

Yes - they are sending follow-up emails as well which is great. If you want to lower your offer on the name then just mention it to your broker in your back office in the inquiry thread IMO.

 

[Name Trader]

Hi everybody,

I've received two inquiries on two distinct domains at UniregsitryMarket and a broker handled the negotiation on my behalf. It's been 10 days since then and the broker didn't get any response to his emails and I suspect his quoted price to be the reason.

Indeed, his quoted price is in the high $X,XXX for one domain and in the low $XX,XXX for the other and I don't think the inquirers will reply any soon.

What are my options from here on? Wait and give my broker more time to get a deal? Go without him and reach out to the inquirers with reasonable offers?

Knowing I hand registered these two domains for 10€ each, I'll be happy with a price in the low four figures.

Many thanks

Can't you contact your broker and simply state his asking prices are too high and to reduce them. Or, as @biggie stated. Do your own negotiating. Is that a system-wide setting, or on a domain-by-domain basis?

 

[Kate]

I am not saying DNS are not doing a good job, but I am under the impression that they quote very high prices, so your names have to be worth that kind of money. If you can afford to wait for a high offer go for it, but if your names are average and you want to move inventory you should reconsider your plans.
I am not really sure they are doing something that you couldn't do yourself. Quoting high and even unreasonable prices is common among domainers - everybody can do it

 

[Houssaine]

Can't you contact your broker and simply state his asking prices are too high and to reduce them. Or, as @biggie stated. Do your own negotiating. Is that a system-wide setting, or on a domain-by-domain basis?

You can set this domain-by-domain or for all at once.

 

[Houssaine]

I am not saying DNS are not doing a good job, but I am under the impression that they quote very high prices, so your names have to be worth that kind of money. If you can afford to wait for a high offer go for it, but if your names are average and you want to move inventory you should reconsider your plans.
I am not really sure they are doing something that you couldn't do yourself. Quoting high and even unreasonable prices is common among domainers - everybody can do it

You are right Kate, I did the same myself and lost a potential deal last month! I will give them some more days and if nothing happen I will make direct contact with the buyers.

 

[theSun]

You can setup a buy it now price (low xxxx, or even high xxx), and tell the broker to direct the buyer to your domains, and let the buyer know either buy it at that price or just move on with life. Ends all hassles and questions for everyone. Then everyone lived happily ever after.