What is Escrow "Concierge Fee"

[PULKIT]

I am confused because as I can See from Escrow Fees Page it shows $100 just for Concierge Fee.

Please Let me know what is it and if its seriously there then who would consider Escrow as Payment Processor because they are charging $100 as Concierge Fee

All Opinions are Welcomed Here

Thanks

 

[Jurgen Wolf]

It is a push into their escrow-account.
The same is FREE and by default using Sedo's escrow.

 

[Addison]

It means that Escrow.com takes possession of the domain name as the intermediary. Once they have both the domain name and the funds, then they make the swap.

It's optional, and most escrow transactions do not use it. In most cases, Escrow.com only takes possession of the money.

The same is FREE and by default using Sedo's escrow.

It is NOT free at Sedo. It costs 15-20% of the sale price, which is enormously more than Escrow.com.

Compare how much Concierge costs at Escrow.com vs. Sedo.com for a $20,000 sale:

• Escrow.com charges $403 for this service
  
• Sedo.com charges $4000 for this service (10X the price of Escrow.com)

Don't be fooled. That service fee is in their commission.

 

[Jurgen Wolf]

Sedo's External Escrow is 3% and less (depends on sum) with $60 minimum fee.
10/15/20% - only if you use their marketplace!

 

[Addison]

Sedo's External Escrow is 3% and less (depends on sum) with $60 minimum fee.

Wrong, Sedo's fees are never less than 3% (source). Actually, it's often MORE than 3%:

The applicant is charged a fee of 3% of the gross selling price (note the minimum fee). Upon request, we will also assist you in dividing the fee between the buyer and seller. Additional fees may exist through your registrar or bank. There is an additional 3% express processing fee added for payments over $500 made using Alipay and PayPal and Credit Card.

Also, 3% of $20k is $600, which is still more expensive than Escrow.com and NOT free.

 

[Jurgen Wolf]

FREE - because Sedo has own escrow-accounts with all popular registrars and they will ask you to push by default.

$20K-payment in 99% of cases is processed by Wire Transfer only, so no any additional %.

And regarding fees less than 3% - previously I saw this fee-table in the news on their website and in my panel.

 

[Jurgen Wolf]

p.s. Per my own experience, only 3-figure and low $x,xxx sales were done using CC or PayPal.
Wires in all other cases.