To understand what a domain broker does, let’s briefly summarise the importance and value of domain names. Think of domain names as a type of real estate; owning a house is a physical asset, whereas owning a domain name is a digital asset.
Domain names are important because:
- They form an essential part of company branding.
- Combined with keywords, they create memorable brands.
- Domain names gain in monetary value, attracting potential acquisition offers.
Domain brokering is helpful because, like land agents, they, too, are industry experts who negotiate and obtain ‘assets’ on your behalf. Buying or selling domain names takes confidence and strong communication and negotiation skills.
Unfortunately, many stories exist in the domain name marketplace, where investors have not used a domain broker, and deals have gone unnecessarily downhill, causing significant financial losses.
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What is a domain broker service?
A domain broker service involves:
- Buying and selling domain names.
- Domain name valuation and appraisal services.
- Buying a premium domain.
- Domain portfolio management.
- Managing the domain name transfer process.
- Utilizing a domain name escrow service (third-party finance company).
- Understanding industry bodies, policies, and ICANN transfer rules.
How does a domain broker service work?
If you own one or multiple domains, you may be contacted by a broker with interest from another party to purchase from you, or you may contact a broker to assist you with selling one.
Help.com believes it’s essential to have a professional consultation meeting to discuss your goals, targets, and budgets. Read more about our domain brokerage services.
How do you choose a domain broker?
Operating successfully within the domain name marketplace takes time to master. When choosing a domain broker, they should have proven experience in domain acquisition services, high-level negotiating skills, and the confidence to convert prospects into buyers and seal the deal.
Brokers have strong industry contacts who understand a domain name’s potential market value. Help.com’s sister brand, Above.com, has highly experienced industry specialists with the know-how to help turn prospects into realities.
- 35 years of combined experience means you can trust our brokers to negotiate win-win deals.
- We know how to close the price gap between buyers and sellers.
- Our domain platform is a must-have for tracking and managing domain names and sales
From monitoring to monetization and managing bids and offers, Above.com is the complete domain investing management system.
Pros and cons of using a domain broker?
If you decide to go it alone, it’s likely because your perfect domain name is available, and you can register it directly through Help.com’s domain registering service.
We also offer slick web hosting services, making domain registration and web hosting safe, swift, and simple!
The main reasons to engage a domain broker are:
- Your perfect domain name is already owned by someone else.
- You can’t find your ideal domain name and need help.
- You don’t know how to contact a domain name owner to start negotiations.
- You don’t have appropriate negotiating skills.
- You have a premium domain name you wish to sell at a high price.
- You want to save time and money operating in the marketplace.
- You want to avoid potential legal issues.
Common mistakes in domain selling?
A common mistake in domain selling is not having the industry experience to complete a deal, leaving all parties open to legal implications and financial risks.
Before securing a domain broker, it is best to explore their professional history using track record examples and client testimonials. Not all domain name investors want their information shared, but legitimate brokers will have some validated proof of their professionalism and expertise.
Don’t forget to ask about brokerage commissions and fees, check industry standards, and stick to your budget!
Remember, acquiring a premium domain name can transform and elevate your business and brand to the next level, which is why this is an important transaction best managed by experts.
Frequently Asked Questions
How do you buy a domain without a broker?
The first step to buying a domain name without a broker is choosing a domain name using Help.com’s AI domain name generator. Consider the available extensions and the website’s purpose. Look out for deals offered by domain registrars. The ideal goal is to buy domains at a low price and eventually sell them high!
How do I know if someone wants to buy my domain?
You will know if someone wants to buy a domain from you because they may try to contact you using the public WHOIS directory. Alternatively, you may be contacted through a domain name broker engaged on a potential buyer’s behalf.
What do domain brokers charge?
For premium domain names, the average charge for a domain broker is between 15%-20%.
What is escrow?
Escrow is a service used in domain name broking and an agreement made by a third-party entity engaged to receive and disburse funds based on specifically agreed conditions.
How do domain brokers protect buyers and sellers?
Escrow protection is one way to secure professional transactions between domain name buyers and sellers. Domain brokers should also outline the legal implications of specific transactions for the buyer and seller to obtain from their legal representative if necessary.
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