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My lead wants another domain which I don't own (what would you do in this case?)

Labeled as question in Domain Beginners started by tomas_cherry, May 16, 2018.

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  1. tomas_cherry

    tomas_cherry New Member

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    Hey guys,

    I'm new to domaining, so I have a "what would you do if you were in my shoes" type of question, because I want to maximize the value of this situation.

    I have a domain for sale (crypto niche). I was doing email outreach to crypto companies.

    One guy said "no" to my domain, but they're looking for a specific .com domain (because their company already owns the same name with .co.uk TLD). Obviously they're going to be the end-users, as it seems to be an established crypto company.

    Their target domain is on a public sale, asking price is $10K.

    My question is - what would you do in this situation?

    My first (inexperienced) thought - I know what exact domain they need. Most likely, they've already seen what's the asking price for that domain. If they still don't have it, maybe the price is too high, or they don't need it badly enough. Let's say, maybe I can be the middle man and try to get that domain for $5K. And resell it to the crypto company for $7K.

    That's just my thought. Maybe it's stupid and not worth the risk as the profit margin would be too low for flipping. Maybe that domain is not worth the $10K at all. A lot of "maybes" :)

    So it would be nice to hear some opinions from more experienced members: how would you approach this situation? What would be your action plan? How'd you talk to the buyer? And to the current owner of the domain?

    Or just share your experiences if you dealt with sth like that before.
     
    Last edited: May 16, 2018
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  2. IMEZI

    IMEZI Top Member VIP ★★★★★★★★★★

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    let it go... it will be wasting time and energy...
     
  3. golan

    golan Leo.Domains Gold Account VIP

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    It might be a setup: they / their partner own that domain, they offer you 10k, and when you buy it for 5k, they just leave you with it. There was a similar store here recently.
     
  4. mr-x

    mr-x Acme Domains Gold Account VIP ★★★★★★★★★★

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  5. DNWon

    DNWon eCommerce Branding Specialist VIP

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    You could potentially try to broker a deal for the domain, but under no circumstances should you buy the domain. You could use contracts to secure an option for the domain from both the buyer and the seller. Get the company to agree in writing that if you are able to secure the domain within X amount of days, that they will pay $X amount for it by a certain date. Then you approach the owner of the domain with an option contract offer that says if you can supply a buyer within X amount of days for a certain price they will agree to sell the domain. Contract work can be tough and time consuming and most of the time should be handled by an attorney unless you feel you can protect yourself financially in case one party defaults on their contracted agreement. If you can broker both options contracts with enough in between for an acceptable profit, turn the deal over to be closed by a reputable and trustworthy escrow company, to make sure you get paid! You can probably find usable options contracts on the internet. Protect yourself from all angles and scenarios and do not buy the domain!
    Good Luck!
     
  6. bulkdomainz

    bulkdomainz Established Member

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    Whatever you do, DO NOT PAY for the domain until you have received payment from the interested client. Remember VEGE.US :xf.wink::xf.wink::xf.wink:!
     
  7. Candace

    Candace Broker at Starfire Holdings Starfire Holdings PRO Blue Account VIP

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    You can act as a broker between the buyer and seller.

    I won't suggest that you purchase the domain AT ALL. Too risky. And domaining is not about taking stupid risks; it's about taking smart, calculated risks when necessary.

    Although you're assuming the crypto company have seen the $10K price tag; they may not have.

    Simply ask them if they'd like you to make contact with the owner of the domain. And what their budget is for the name. They may say "NO" in which case, you move on.

    But if they say yes, decide on your commission. Will you take 10% of the asking price? Will you take $500? You decide.

    Once you make contact with the seller; you can let him know that you "have a client who is interested in purchasing your domain. Is the domain for sale? At what price?" (You need not let him know that you've seen it listed for $10K). Once you start talking about money, be sure to consider your commission in your communications between buyer and seller. One of them or both of them need to pay you for 'bringing them together and being the go-between'. Don't forget about yourself.

    See if you can get a deal done. If you can't then just move on.

    If you do successfully get both parties to agree; you will have to start an Escrow.com transaction as a broker. That's how you get paid. But the good folks at Escrow.com can help you with that.
     
    Last edited: May 17, 2018
  8. DanSanchez

    DanSanchez Active Member VIP

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    Get a fee of $990 + 10% of the final purchase price for them to be represented by you, don't buy the name, don't do any work without getting paid first. You act as negotiator and concierge, that's it.
     
  9. Rory Ivey

    Rory Ivey Active Member VIP

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  10. Cristi Marin

    Cristi Marin Established Member

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    Bro, @DNWon and @Candace gave you the best advice ever, that's what I would do too.
    Good luck and nail that commision! ;)
     
  11. urlurl

    urlurl Active Member VIP

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  12. MasterOfMyDomains

    MasterOfMyDomains Top Member VIP ★★★★★★★★★★

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    My question is - what would you do in this situation?

    Go find a buyer for your name
     
  13. 1Darko

    1Darko Active Member VIP

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    What's the name?
     
  14. Shamiul Alam

    Shamiul Alam Established Member

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    Hope they're not selling you their domain.
     

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