What Escrow Service Will You Use Now?

[Cdomains]

With the recent changes at Escrow/com asking for extensive ID and other photo verification which domain escrow services are you likely to use in the future, and why?

 

[Jurgen Wolf]

Sedo even resolves for me the Invoice requests from some buyers...
I never did those invoices myself.

 

[SiteMac]

I wish a new , more domainer friendly escrow company would form. They really would get some business fast. The model is there already. Just be what Escrow.com use to be before they got bought.

 

[GoKaizen]

BitRated with Bitcoin?

 

[Raymond C]

Anyone use Bitcoin? Any good?

 

[pokainc]

There's also this problem with Sedo:

If your domains are listed on Sedo and you sell them through a direct email negotiation, you'll still have to pay 10-15% of the sale price in fees.



We can't choose to not have concierge at Sedo.
We can choose to not have concierge at Escrow.com.

@Addison , if someone sends you a direct contact and you reach an agreement. Can't you just remove the listing from Sedo , then initiate escrow with SEDO.com?

 

[Cdomains]

@Addison , if someone sends you a direct contact and you reach an agreement. Can't you just remove the listing from Sedo , then initiate escrow with SEDO.com?

Seems logical and I asked this question before and it was suggested to do that.

 

[pokainc]

Thanks Cdomains. I just checked the Payoneer platform, and even though I was inclining towards SEDO, Payoneer seems really to have a great platform and great fees.

(also can be found on their site's "how to" section)

 

[Jurgen Wolf]

Yes, just remove it from Sedo.

p.s. I don't use their marketplace at all.

 

[Addison]

@Addison , if someone sends you a direct contact and you reach an agreement. Can't you just remove the listing from Sedo , then initiate escrow with SEDO.com?

Seems logical and I asked this question before and it was suggested to do that.

That would be unwise because you're deliberately sidestepping their fee structure that commands you to pay 10-15% in fees to Sedo. That could cost you your entire Sedo account.

Don't take advice from people who don't have to live with the consequences.

 

[JohnnyNight]

Extensive ID..??

Copy of drivers liscense..??

How's that extensive..??

Verify credit card...??

Extensive..??

Took me 30 seconds to send everything to them..

It's to protect you..

They're not going to use the info to come and take you away...

What is your concern..??

 

[kriss05]

@Addison , if someone sends you a direct contact and you reach an agreement. Can't you just remove the listing from Sedo , then initiate escrow with SEDO.com?

I did exactly this, no issues.

 

[Start]

Addison has a good point:

It's understandable why Sedo has this rule, because otherwise, people could browse Sedo and find a good domain, lookup the whois, and then contact the person directly... so that's not fair to Sedo to lose out on their higher agreed-upon commissions.

So if someone does get caught, it would also be understandable if there are consequences (a ban, or whatever).

That would be unwise because you're deliberately sidestepping their fee structure that commands you to pay 10-15% in fees to Sedo. That could cost you your entire Sedo account.

Don't take advice from people who don't have to live with the consequences.

 

[kriss05]

Say my domain is listed at Sedo marketplace and someone approached me privately to buy it. We agreed on price. Now I can go to say Escrow.com as their fee is lower than standard Sedo fee. Or I remove it from Sedo marketplace and let Sedo earn what would Escrow.com earn in first place. Which way will make Sedo happier?

I would say that this way Sedo gets more share of private sales.

 

[Start]

Yeah, but how do you know they didn't find it via Sedo, and then simply checked the whois in order to email you directly?

It's another matter though, if you proactively contact someone and then find a buyer on your own. But otherwise, it's understandable why Sedo has the rules the way they are.


I've never really tried marketplaces like Sedo, Afternic, GoDaddy, etc., so I don't know how useful they are in bringing buyers (been meaning to try it though)... so anyway, I don't have any axe to grind in this issue, I just see why Sedo has that policy.


Also, Escrow.com isn't cheaper (it only is under $25,000)... they are 3.25%, while Sedo's standard fee is 3% (and Sedo's standard process seems to be equivalent to Escrow's "concierge" service which is like over 6%).

 

[kriss05]

I think it doesn't matter how they found it, what matters is how they contact the seller. If they approached via Sedo marketplace - Sedo gets it all. If they approached via email, then it is more up to the seller which marketplace to use.

 

[Kuffy]

Anyone use Bitcoin? Any good?

If you mean Bitcoin itself - ie a core wallet, then you need to enable SegWit, and use 3 party signatures. I was going to experiment with this, but haven't found a suitable buyer. The advantage of this is that you don't need to release the name until the funds are on the blockchain, and cannot be released until 2 valid signatures are submitted.

If you mean escrow services that accept Bitcoin, then the same rules apply as for using fiat based escrow services.

 

[Cdomains]

That would be unwise because you're deliberately sidestepping their fee structure that commands you to pay 10-15% in fees to Sedo. That could cost you your entire Sedo account.

Don't take advice from people who don't have to live with the consequences.

I think they are talking about when a buyer contacts you directly, through whois for example, and you want to use their escrow service only but you just happen to also have the name listed at their marketplace.

The suggestion to delete the name before using their escrow service is to avoid any problems or confusion during escrow and not a way to "sidestep" paying them a commission.

Since the sale did not originate from their marketplace there is no reason to pay them a commission on the sale.

The fact that you have your name listed on their marketplace as well is just incidental when all you are using is their escrow service.

 

[kriss05]

I think they are talking about when a buyer contacts you directly, through whois for example, and you want to use their escrow service only but you just happen to also have the name listed at their marketplace.

Exactly.

 

[Cdomains]

Addison has a good point:

It's understandable why Sedo has this rule, because otherwise, people could browse Sedo and find a good domain, lookup the whois, and then contact the person directly... so that's not fair to Sedo to lose out on their higher agreed-upon commissions.

I have domains listed at many marketplaces at the same time so if you go by this point of view maybe we should pay a commission to all the marketplaces we have the name listed at just in case they saw the name there.

Every time someone contacts me about a domain and I make a sale I should now pay a commission to every marketplace it is listed at?

What if the buyer just typed the name into a browser and wound up on a parking lander or a website lander page and does not even know that the domain is also listed at Afternic or Sedo or wherever else.

So we should not use Sedo's escrow service because of the small chance they might have seen the name listed there, and we have no knowledge of this?

If a buyer mentions to you they saw the name specifically listed at Sedo and then contacted you outside the marketplace then of course it is ethical to report this to Sedo and pay them their commission even when when using their escrow service.

If not, it makes no sense to do this!

There is nothing wrong with deleting the name from Sedo's marketplace when only using their escrow service if the sale did not originate from their platform!

 

[drynyks]

i like ecop most best of all

 

[Jurgen Wolf]

You may delete your domains at Sedo at any time.
No any rules which prohibit that.

Only if 7-days incoming/binding bid exists - you can't delete it in this timeframe.

 

[imadoer]

I used to be a big fan of escrow.com now I'm not I been struggling with them to correct a mistake for 4 days I cannot stand crappy support they give over the weekend. I'm working on a very large deal and it might fall through because there system is making the deal fall apart

 

[Jurgen Wolf]

And sales via Sedo's escrow are NOT private, they are reported via their feed as marketplace-sales as well.
Only if a buyer pays the additional privacy fee - such sale can be hidden.

 

[Jurgen Wolf]

So tons of those sales which you see at DNJournal etc. - are just a sales via Sedo's escrow...

 

[kriss05]

According to Sedo's guidelines, I asked them to keep my recent sale through their external escrow confidential. It was free of charge and confirmed by Sedo staff at the Transfer Center.