discuss What do these "Brokers" do?

[Optinom]

Often I see buyers (likely domainers) buying names on LTO, and stop paying after 1-2 months. What do they do in these 2 months? What kind of Outbounding do they hope to do..

I also notice some buyers (likely domainers) negotiating prices hard on Dan or GD and then Ghosting, once an offer is accepted. Are these domainers trying to buy time with the domain too?

I'm very curious to understand their working models. 1-2 months of lease is going to cost them easily $200-300, for which they can buy and own very decent names.

 

[davidc1]

Often I see buyers (likely domainers) buying names on LTO, and stop paying after 1-2 months. What do they do in these 2 months? What kind of Outbounding do they hope to do..

I also notice some buyers (likely domainers) negotiating prices hard on Dan or GD and then Ghosting, once an offer is accepted. Are these domainers trying to buy time with the domain too?

I'm very curious to understand their working models. 1-2 months of lease is going to cost them easily $200-300, for which they can buy and own very decent names.

how do you know they are brokers ?

 

[Optinom]

Well.. for eg, one of my names, the buyer took a 5-year LTO on a $5000 name, and I noticied there was a very recent Trademark filed on the name. And stopped paying after a month. Makes no sense for an end-user to do that.

Multiple similar experiences.

 

[biggie]

Makes no sense for an end-user to do that.

Hi

sometimes they lto the name in hopes of getting more funding for their startup, but the money doesn't come.
so, they cancel the lto.

not necessarily brokers or domainers, could be ordinary people.
you never know who they are or their plans, unless they show their hand.

imo....

 

[cooljub]

one of my names, the buyer took a 5-year LTO on a $5000 name, and I noticied there was a very recent Trademark filed on the name. And stopped paying after a month.

Perhaps it was a domainer who bought the name, then also saw the TM regged by someone else, so decided against it.

 

[Samer]

Did he or she say they were a broker?
The title and thread body are different.

Domainers and brokers are usually diff entities.

But great answers; some of which i didnt know!

 

[NorthernDomains]

Make the terms short to guard against this type of abuse.

 

[biggie]

Make the terms short to guard against this type of abuse.

Hi

actually, i wouldn't say it was abuse of the LTO option.

a buyer canceled our deal, after making five payments @ $550 per month.
i still have the name and pocketed $2,500.
if that's abuse, then abuse me baby!

imo...

 

[likemike]

I had a buyer lease a name for a year and it had been paid for half way but then changed their mind. A year later it was sold at an even higher profit. Things happen!

 

[SpareDomains]

Well.. for eg, one of my names, the buyer took a 5-year LTO on a $5000 name, and I noticied there was a very recent Trademark filed on the name. And stopped paying after a month. Makes no sense for an end-user to do that.

Multiple similar experiences.

Seems like a long term for $5000. I generally only do 3,6 or 12 months depending on price. To get 60 months financing out of me the domain would probably need to be 30k-100k in price. Longer the term higher chance of default. On my Atom white label it has adjustable down payments on the first payment to make a buyer more invested to reduce the chance of abandonment on plans 12+ months...

https://helpdesk.atom.com/en/articles/8770020-flexible-payment-plans-with-down-payments

Be nice to see this down payment option at every site offering LTO Afternic, Dan, etc...

 

[PatrickV]

One time payment best, deal done, no stress, glta!

 

[alcy]

I had few lto cancelled. it has nothing to do with brokers and rarely domainers also... it's just endusers who cant pay. or change their mind. it says in tos it's ok to stop paying. no gun to the head. u just lose money. I got a 9k .io lto for 5years now. my only one. 130net per month but hey it's still not nothing.