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?

 

[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.

 

[Jurgen Wolf]

Thanks, I never tried to hide my sales...
Maybe, such privacy-fee was already deprecated at Sedo.

 

[Raymond C]

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.

It happen to me when I sold $20000 name and negotiated directly with buyer. We use Sedo escrow external service about 3%. Before doing this, I deleted the domain listing at Sedo, and then transaction using escrow external service. So far no problems.

 

[pokainc]

it goes both ways too.. Let's say a person lands on your lander and checks with SEDO just because they trust them more and they make a bid on Sedo and you accept... technically they came to your page and sedo got their fee... I don't think it's really a big concern. These type of things happen all the time.

 

[Cdomains]

Let's say a person lands on your lander and checks with SEDO

How many end users outside the domain business know about Sedo, and would check with them?

Sure, they could land on a Sedo parking lander if it is setup, but I don't think many will know to check the Sedo site.

 

[pokainc]

I deal alot with tech people who inquire on my names. They know about Godaddy & Sedo & Afternic. Often after I counter in negotiations.. magically someone puts a bid on that same name trying to see if they can get cheaper.. anyways.. it's besides the point.

 

[Addison]

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.

They are, and so am I, and so is Sedo. When that happens, that is a 10-15% fee paid to Sedo if you want to use their escrow services.

@Start explained it well:

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).

 

[Jurgen Wolf]

~95% of endusers don't know about WHOIS at all.

 

[Jurgen Wolf]

And 95-99% of Sedo users - are just another domainers/investors...
So no sense at all to list the domains there if enduser-sales are preferred for you...

Such listings can be suitable - only if you sell for fixed price and want to promote your domains through Sedo MLS (20%)...

 

[Start]

And 95-99% of Sedo users - are just another domainers/investors...
.

...So basically, that means 95-99% of Sedo buyers know how to lookup whois. That does support why Sedo has their policy the way it is.

It's up to Sedo how they handle the issue, but the general topic is something I've noticed for marketplaces in general, wherever a marketplace helps buyers & sellers come together... like even Etsy.com, how do they ensure they get their proper commission, rather than buyers seeing a seller's name and Googling for their web site.

BrandBucket seems to solve the problem by requiring exclusivity.


Of course, if you get someone just contacting you via whois, you don't know if they found you through Sedo. It would be an interesting question for someone from Sedo to answer... when people with Sedo listings get a direct email, are they okay with the seller still using Sedo for escrow but only paying 3%?

 

[Jurgen Wolf]

And again...
If their bidding system or MLS was not used to originate certain sale - NO any policy that prohibits to delete the domain and to use them in Escrow-mode only.