Working With Domain Brokers - Part 2

Working With Domain Brokers - Part 2

I’ve recently engaged a number of domain brokers to assist me with the sale of a few domains. The first thing I said to them was, “What do you think the domains are worth?” Despite my years in the industry I am unlikely to know what the “sales” market is saying right now. I’m a domain traffic specialist, not a full-time sales broker.

What I’d done is bypass the question of, “What I think the domains are worth” and jumped straight to getting the professional advice. In many respects, I’m an ideal broker customer. I want their advice and I will then accept it…..so the domains are priced to sell!

Escrow.com

I’ve received a number of offers for my domains from the brokers and they all seem to be asking whether I want to sell. In my opinion, this is a little silly. The reason why I engaged the brokers is to GET their advice. What I would like to see is an email which says, “Here’s the offers Michael, based on my experience and current market comparables I recommend that you accept.”

What I’m really saying is, “How the heck do I know whether I should sell or not?” I want the broker to provide me with their professional recommendation. Once I have this recommendation my reply would be, “Done! Let’s go through the escrow process.”

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Working With Domain Brokers - Part 1

Working With Domain Brokers - Part 1

When you really think about it, professional domain brokers have one of the most difficult jobs in the world. They have to manage both a domain owner’s and a potential buyer’s expectations and walk a tightrope whether they get paid or not. I’ve been doing a lot of thinking about the brokering industry and thought that it was about time I wrote an article or two on the topic.

Domainers, engage the services of a domain broker because they want a domain(s) sold. The reason they do this is that to date they have not been able to sell their domain at their anticipated price point. They then pass their domains to a broker in the hope that by engaging the services of a professional they will succeed in attaining a great big windfall.

Escrow.com

So what’s the first thing that a domainer does? They tell the professional what their domain is worth. How stupid is that???? The reason why they’ve just engaged a broker is to get their professional advice on the value of the domain. A good broker is a person that should have the pulse of the market….not the domain investor that has, to date, fundamentally failed to sell their asset.

Here’s the difficulty for the broker. In most cases, the domain is worth precisely what someone is prepared to pay for it. Sure, they can guesstimate, but a more professional broker will more often than not say they need to do some research on the sale price. What they are really saying is I need to make some calls, rustle a few bushes and see what falls out. This makes perfect sense to me.

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