strategy Missed a great opportunity in LLL.com flip...

[ramkumaritrvs]

Sale happened but we missed to earn from it due to the poor attempt that my team went..

I see $21k price on LLL .com (in private firm) but it will worth more. i interested to acquire and then trying to outbound but my team head suggested that we will do outbound, once get any lead then we will proceed to acquire @ $21k.

Almost spent 3 days to find potential endusers and outreached them. One of the company opened our mail 10+ times yesterday but didn't received any reply from them.

when checking the domain now, it got sold

Seller must sold @ morethan $21k because we asked $75k in outbound. Seller didn't aware of this outbound & sale but got benefit from my teams poor strategy.

Great lesson learnt now.

P.S: Just sharing the above as a test case. It may be helpful for someone in future.

 

[NameShiba]

Regardless of the legalities behind the decision of creating a team in the active effort of attempting to secure a sale of an asset that was not acquired to an end-user.

It is simply unethical.

I do appreciate the OP to point out the conversation in this thread.

Regardless of everyone's take on the current situation at hand -- since we are all here coming together talking about this practice this can be used as a great talking point.

Other people are watching this thread or viewing it, I hope this advice is given to newcomers and older members of the domain industry so that as a collective -- we can learn from these mistakes and grow as an industry and community.

Continuing to discuss the ethics over an obviously unethical situation -- may provide not as constructive of discussing the active talking points of the situation at hand.

Important example.

✗ "What a bad decision, de-platform the OP now."

✔ This is unethical -- everyone take heed to the scenario being played out here.
These are the reasons why you should avoid doing business this way so we can all sell domains better.

Hopefully your thread encouraged other people to stay away from this practice.
Cheers on you for being upfront about honest with both mistakes and successes.

May your next ventures be fruitful with the lessons learned -- and let's all get back to selling names.

 

[wurdd]

Nope, im saying, if they already admit it, tell them its wrong and give em a break. Especially if the ones ranting against it, (90%+) of them, turn around and do no better, just cause it aligns with their own view of morality.

Lets get back on topic. Imo,
Please dont do this, it can be harmful to the current domain owners, and if you dont own the domain its not yours to sell unless you have permission to do so.

I suggest you go read the first two posts by the OP. Don't come in here making idiotic analogies and then use morality as your defense. Front running domains is identity theft - period. So, you think identity theft is comparable to capitalism?

And, I think it must be added that the OP is a "PRO" member here. Do you think that badge could confuse a newbie?

There's a lot of stuff that stinks here, including your defense of the guy and his "team."

 

[FolioTeam]

Not defending anyone or anything, Just mentioning the fact that everyone in the thread condemning a "admitted", bad action, quite harshly... would at the same time, do the same, worse, or maybe a little better, yet nontheless, an unethical action, to earn money... while all thats needed is a Not cool, please dont repeat.

That other people might do/are doing it and are condemning it regardless, still doesn't make it right. It just makes those people hypocrites.

Still doesn't change the fact that the act is wrong/unethical or any other words that suits you.

 

[.NJ]

Front running is a common practice in this slimy industry.

I had it happen on deals multiple times with people in the industry that most of you look up too.

It only happens with higher end names so most wouldn't experience it.

I caught more then one red handed in the act. Just had it happen last month with a one word .com.

These industry idiots try to sell my names to my friends before closing the deal.

I get phone calls saying "blank is trying to sell me your name".

Stupid is as stupid does.

But Im sorry, if you think this is a limited practice of just a few....your wrong.

I could call out people that would blow your minds....

But....I wont.

Welcome to the domain world.

 

[bmugford]

So how did you approach the potential end users exactly?

Where you representing yourself as the domain owner, or acting on behalf of the owner as a broker?

Brad

 

[lambo.com]

Nice try with the hustle

 

[FolioTeam]

So how did you approach the potential end users exactly?

Where you representing yourself as the domain owner, or acting on behalf of the owner as a broker?

Brad

Whichever way you swing it, it's illegal and unethical. IMHO.

Others are free to think differently

 

[55Domains]

Not here to defend, but....

Let me just briefly mention that most everyone in here condemning hes action, would at the very same time given the opportunity, purchase a 3L.com at $5k without thinking twice... (from anyone, end-users and domainers alike), full well knowing that you are taking an asset for far less then what he could get if he went to market, then, you call yourself smart. At the very same time you would also not blink to think, and accept $7k from a different domainer on one of (any) your domains, even thou you know full well you paid $500, and havnt had an inquiry in 3 years...and that chances are next to 0 he will make a profit and likely just be stuck with the name forever.

Other then the fact that front-running can legally backfire on the current owner, i would see no difference to the 2 examples above. The industry is clustered with somewhat edgy, somewhat ethical, ethical, and clearly unethical behaviour. Admitting to what likely falls into the later could also be seen as admitting a mistake.

And if you just so happen to be one of those few, (prob 10 at the most).. Domainers that have never made a lowball offer, never sold for what is clearly too much to a different domainer, never done any front-running (be it between 2 domainers)... or any other action that someone somewhere might condemn or see as unethical, then cheers, Hats off.

 

[NickB]

Probably not first time you did it. Hopefully the last.

good point - only the first time he lost out by the sound of it......

 

[novasyd]

Sale happened but we missed to earn from it due to the poor attempt that my team went..

I see $21k price on LLL .com (in private firm) but it will worth more. i interested to acquire and then trying to outbound but my team head suggested that we will do outbound, once get any lead then we will proceed to acquire @ $21k.

Almost spent 3 days to find potential endusers and outreached them. One of the company opened our mail 10+ times yesterday but didn't received any reply from them.

when checking the domain now, it got sold

Seller must sold @ morethan $21k because we asked $75k in outbound. Seller didn't aware of this outbound & sale but got benefit from my teams poor strategy.

Great lesson learnt now.

P.S: Just sharing the above as a test case. It may be helpful for someone in future.

Don't give up, I also have some domains.. do you want to outbound them too? :D

 

[Bonsu]

Not accidently, we did it on purpose. It was a new strategy that my team tried and failed.

Without owning the domain we did outbound (to save acquisition cost & less risk on hold). If we didn't get any leads then we might move to next domain. that's our plan but we got kicked this time

21k wasn't a bad deal. You could still have bought it and hold on to it. I feel it's not ethical to carry out that strategy.imo

 

[Joshh71390]

Seems like a bit of a risky move, especially with a name of such high value. The problem IMO with this strategy is your not selling to any old enduser, your probably selling to someone who knows the value of the domain. So when they see this offer do some research, and end up finding the sale which is obviously going to be cheaper then you are charging and they pull the trigger.

 

[mr-x]

This is the first time we tried as my team head shared his idea. I never involved as you accused, in any other platform.

It is very surprise for me that many people involving in this model by hidden.

Do not accuse anyone without having the proof

Your failure was the best possible outcome for the domain owner. Selling something you don't own without permission is fraud. Lying about your legal right to sell a domain is not only fraud but tortious interference - imo.

 

[coolhands]

You guys all attacking him! Calm down, if he is a bad guy, He will not share this with you. and even if he missed this one he will try it again and again, and you will not know this of course.
I think his intention is clear.

There is alot of bad people who Do 10x Much more than this in this industry and Guess what They will not share it here in the public.

 

[ramkumaritrvs]

He tracks emails without consent,

All our emails are traceable. We using hubspot, snov and few others. with / without consent is depends upon the tracking companies policy.

 

[AbdulBasit.com]

Yes, May be. That's why god saved me from earning bad karma's by loosing sale.

Everyone do mistake. I accept and learnt a lesson lately

Yes, we all make mistakes and learning from those mistakes and not repeating is a good thing and as I said earlier, you'd the courage to openly admit which I appreciate you for it.

Best wishes!

 

[karmaco]

Can’t believe you thought it was ok to even try this

 

[Ategy]

Other then the fact that front-running can legally backfire on the current owner,

Your "other than the fact" is actually ALL the difference in the world.

What would have been more acceptable in my books is if he had made the outbound pitch with a very clear indication that he is not the owner.
(Although in this case it wouldn't have made sense if there was a public BIN on the domain.)

Whichever way you swing it, it's illegal and unethical. IMHO.

Unethical I agree totally. But just wondering what the specific law(s) you're referring to? I'm not at all saying there is or isn't any .. just curious, as it's one aspect of domain/transactional law I'm less familiar with.

 

[bmugford]

Unethical I agree totally. But just wondering what the specific law(s) you're referring to? I'm not at all saying there is or isn't any .. just curious, as it's one aspect of domain/transactional law I'm less familiar with.

It really depends how the domain was represented. I have seen this in the past were a party says they are the owners or make other misleading or false claims. Depending how the domain was represented you could have legal issues.

Also, regardless of any criminal laws you could sue civilly for actual and punitive damages that resulted because of the actions of another party, for instance a dispute or legal action you had to defend. In my view you would have a very strong case there.

Of course most of the people doing this either have limited assets, or are in areas where it is going to be extremely hard to collect any judgement.

Brad

 

[MasterOfMyDomains]

Probably not first time you did it. Hopefully the last.

 

[NickB]

Wrong again. The person harmed here was the owner of the domain. The OP was the perp.

My first post in this thread, so not wrong again

Take my post in context - I replied to a post that said "Probably not first time you did it. Hopefully the last."

I agreed that this this is probably not the first time the OP has done this, most likely not only the first time he has failed with "front running" tactics

So my post implied that I do not agree with it and the only reason the OP is showing remorse is that they failed with their (questionable) objectives........the value of the domain probably has a lot to do with his thread....

Hopefully the above clarifies my position.......

Sales (or lack thereof) a tale of the one that that got away, remorse, if only, what could of been, blah blah blah heard and seen it all before.......

 

[Picorio]

Thanks for your comments. It's right, he told me when he transfered the domain to the enduser.

Thank you for sharing your story and for answering my question! Wow I see... at least he was honest as to tell you his earnings as a middle man.

I once got a little upset with a Godaddy's employee ( broker) who called me about an inquiry he has from a customer that was interested on one of my domain. I was asking 6 figures(100,000) for the domain and the broker asked me that the client wanted to know if the price was negotiable. I said, yes it's negotiable. The broker said how much would you sell it for? I said, since it already has a price tag on it,I would like to hear how much your client offer is? The Godaddy's representant told me right away: " We should sell him your domain based on the price of similar domains sold before." I was like: "well it makes sense but dont you think If the potential buyer saw the tag price of 100,000 for the domain and he or she was capable of contacting Godaddy regarding my domain, doesn't it mean we should use the tag price as a starting point.? I basically feel that the Godaddy's broker was trying to down grade my price right over the phone without even giving the customer the chance to come up with an offer. I was wondering how much then I should ask: 80, 70 50 40, 30 or 15 thousand? I would prefer to hear the customer offer first before I cut my price off and leave money on the table. Who knows what the broker intention was! Or maybe I should have asked the broker " Then you tell me how much do you think I should sale it for? and if I was comfortable with his numbers ,then I would sell it but I feel that it is not the right way of doing business to let a broker to chose how much you should sale a domain for.

The point of the matter is that the sell didn't go through. The broker told me he went and told them my answer and they said were going to have a meeting with his business partners to come up with an offer( this make me feel they probably were a big fish)

...3 days later the broker contacted me again and said " They decided to buy a different domain."
I said: No problem, have a nice day." End of the story. Maybe I didn't manage the offer properly

 

[Sinh]

Thank you for sharing your story and for answering my question! Wow I see... at least he was honest as to tell you his earnings as a middle man.

I once got a little upset with a Godaddy's employee ( broker) who called me about an inquiry he has from a customer that was interested on one of my domain. I was asking 6 figures(100,000) for the domain and the broker asked me that the client wanted to know if the price was negotiable. I said, yes it's negotiable. The broker said how much would you sell it for? I said, since it already has a price tag on it,I would like to hear how much your client offer is? The Godaddy's representant told me right away: " We should sell him your domain based on the price of similar domains sold before." I was like: "well it makes sense but dont you think If the potential buyer saw the tag price of 100,000 for the domain and he or she was capable of contacting Godaddy regarding my domain, doesn't it mean we should use the tag price as a starting point.? I basically feel that the Godaddy's broker was trying to down grade my price right over the phone without even giving the customer the chance to come up with an offer. I was wondering how much then I should ask: 80, 70 50 40, 30 or 15 thousand? I would prefer to hear the customer offer first before I cut my price off and leave money on the table. Who knows what the broker intention was! Or maybe I should have asked the broker " Then you tell me how much do you think I should sale it for? and if I was comfortable with his numbers ,then I would sell it but I feel that it is not the right way of doing business to let a broker to chose how much you should sale a domain for.

The point of the matter is that the sell didn't go through. The broker told me he went and told them my answer and they said were going to have a meeting with his business partners to come up with an offer( this make me feel they probably were a big fish)

...3 days later the broker contacted me again and said " They decided to buy a different domain."
I said: No problem, have a nice day." End of the story. Maybe I didn't manage the offer properly

Thanks for your sharing. IMO, I think that the broker he has a lot of experience to close a deal, he knows who buyer is and they can afford the price or not, that's why he directly wants to reduce the price in order to reach an agreement with the buyer. I have a good story with the Afternic's broker, I received an offer at $7,680 for one of my domains and I said my non-negotiable price was $15,800 but the broker told me that he could get a better one for me , finally he helped me to close the deal at $18,888. He could do this because he knew the buyer had enough money to ask for.

 

[wwwweb]

This is the first time we tried as my team head shared his idea. I never involved as you accused, in any other platform.

It is very surprise for me that many people involving in this model by hidden.

Do not accuse anyone without having the proof

Don’t tell me the difference between right, and wrong, and this bs team head domain sweatshop you run.

Your team head whatever that means, who manages a team of dick heads thought of this bright idea all on his own, and you backed it... let’s take someone’s potential 6 figure asset, go pimp it outline like a cheap hooker for the first John to take the bait, and we will take our pimp take with no one the wiser.

Do you know how many things had to go right for you to pull this off?

Just as you don’t fear legal reprise, of causing damage to someone’s property, neither do I from you. You, and your team head are free to sue me for slander of your tarnished name, and reputation.

Here is an idea, let’s take all your crap names, and spam them to low level end users, and see how you like it? Can you ask Team Leader Dick if this is a good idea?


From what I read it takes 3 PROS to request the removal of a PRO badge, so hopefully 3 PROS here will make this notion to Namepros, someone get this guy a Bozo Badge.

 

[Bonsu]

This issue should be over by now. It's now becoming an harassment.