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How to buy a domain name: here’s why nobody is responding to your domain name offers

Labeled as advice in Domain Industry News started by Haroon Basha, Mar 11, 2018.

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  1. Haroon Basha

    Haroon Basha IZUQ.COM Gold Account VIP

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    morgan.jpg
    I think the number one question that I get from startup founders who are trying to buy a domain name is, “why is nobody responding to my offers?” While super persistent people will keep firing off emails, a lot of entrepreneurs move onto another domain if they don’t hear back from a domain owner. While at the end of the day you’ll get a domain name eventually if you keep emailing and waiting for people to respond, but you’ll likely end up with your third or fourth choice.

    So what should you do if you want to buy a domain name but the owner isn’t responding? Well, to be blunt – you’re probably doing it wrong. Tell me if this sounds like the strategy you’ve taken so far – you sent an email to the domain owner letting them know you are a startup founder, you want to buy a domain name that they own but you don’t have a huge budget…so you want to know what they want for it. Seems harmless right?

    By Morgan on MARCH 10, 2018.

    Read more
     
    Last edited: Mar 11, 2018
    The views expressed on this page by users and staff are their own, not those of NamePros.
  2. FolioTeam

    FolioTeam Established Member

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  3. stub

    stub Top Member VIP ★★★★★★★★★★

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    So that's what I've been doing wrong. Thank you :)
     
  4. 1Darko

    1Darko Active Member VIP

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  5. tech4

    tech4 Established Member

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    This article is definitely for end user, however, just to point out, using an escrow service is horrible especially when it comes to theft. As pointed out in NP that escrow is not a buy and sell agreement, so there would be a lot of headache for both the buyers and sellers, since escrow doesn't even protect its customer when there is a report of theft.

    Most people tend to think that it is "safe" to go with an escrow service. When it is not.
     
  6. Crysis

    Crysis Established Member

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    Please suggest an alternative instead of Escrow?
     
  7. Haroon Basha

    Haroon Basha IZUQ.COM Gold Account VIP

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    Thank you Moderator.
     
  8. lock

    lock Traffic.tools VIP

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    I am going to stand back a metre from the screen so I can read this.
     
  9. tech4

    tech4 Established Member

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    @Crysis,

    Since it has been established many times, that escrow services will not protect a buyer and a seller from theft. We should all do our due diligent when it comes to high cost transactions. Because you are paying for escrow for basically nothing.

    They take their fees, they don't indulge in any information (as posted many times) so why pay more when it is not safe? Why not request information yourself, request a webcam chat, some picture ids, and do your own diligent? Why pay through a third party, if they do not tell you who cashed the check? or what bank account it went to?

    If you do it yourself, as a buyer, you will know who cashed your check, and which bank it went to. Easier and doesn't cost you much in terms of money. As a seller, assuming you take the time to call, look up address, and have a face to face (webcam conversation) you will know more too. Ofcourse I am not saying it is 100% safe, but it will be safer if you can do it. And as a seller, you have a contract buy and sell, so if they don't pay, you can send that contract to the registry to get the domain back. So do it yourself in this case, 1)A buy and sell contract to protect from seller (assuming the registry helps or get a lawyer), 2) Look up address, phone and face to face chat via videos help protects from fraud. As a buyer, you know who cashed your check, and where it went or sent to at least without begging an escrow service to tell you (and they don't tell you). In all cases as buyer or seller, you have more information, more control, and more "rights" should something goes wrong. In escrow cases, you don't have anything and have to pay a fee on top of that.

    If anyone else can listed something else I missed please add. At the moment, I don't see any escrow being helpful at all when using their services.
     
  10. FolioTeam

    FolioTeam Established Member

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    Great points you raised so far. I agree most of these escrow services may be after their commission. Doing your due diligence is always your responsibility.
     
  11. maxtra

    maxtra Upgraded Member Gold Account

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  12. rafaelo0

    rafaelo0 Established Member

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    @tech4 can you elaborate on that?

    Escrow will receive payment and will verify it and the domain from the seller will only be released when seller has the money and vice verse. I thought escrow was the safest payment service out there i know no payment service is 100% safe but escrow seems like 98% safe that's why i pay them.

    Can you give some examples how you can get scammed on escrow? Maybe send me some examples by DM so no one gets any ideas to use those methods, this is a public forum after all, anyone can see this.

    The contract for seller and buyer is a good option but there is ways around that too like fake bank accounts, fake information and stolen identity plus most registrars will help but there are some who don't care, also the first thing i learned when i started in the domain industry is never send your domain before you have the payment.

    I would like to discuss this further with you so i know how to protect myself and avoid big scams, also would like to know how escrow isn't safe because they get good commissions, if they protect me i have no problem with that but if they don't protect me rather keep those commissions and find a safer way.
     
  13. tech4

    tech4 Established Member

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    Last edited: Mar 12, 2018
  14. rafaelo0

    rafaelo0 Established Member

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    ok @tech4 i will research namepros to see if i kind find those threads.

    Thanks for the info.
     
  15. LiamShiff

    LiamShiff Established Member

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    Good article! Since most of us are sellers here, it just confirms what we do everyday
     

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