You may want to use a domain broker service when buying a domain name.
Buying premium domains can be challenging for someone who has never had to do this.
Let us say you are looking for a domain name you want to center your brand or company around, which is unavailable.
Your search for the owner on several websites results in only dead ends, what do you do?
Or, if you find the owner, you can try to negotiate and go through the gymnastics of contracts and paperwork or hire a domain broker.
Is it worth your time and money to find an owner, negotiate the price, hire a lawyer to go over the contract, then find a way to do the transaction?
Several problems can happen if you try to do this yourself, such as overpaying for a domain name, wasting countless hours trying to find an invisible owner, or having a deal go sour.
You will want to use a domain broker service with a domain name you wish to acquire.
A domain broker service will help you accomplish this goal in a fraction of the time professionally and efficiently.
In this blog we are going to go over
- What a domain broker service is?
- How to choose a domain broker?
- Step by step process for buying a domain through a broker?
- Step by step process for selling a domain through a broker?
- What does a domain broker service cost?
- The ways a domain broker service will help you.
What is a domain broker service?
Domain brokers help you acquire your premium domain within two to eight weeks while giving you anonymity and a simple transaction.
A domain broker service specializes in quick and stealth acquisition.
They are experts at finding hard-to-reach owners and completing complicated negotiations for you.
And giving you a simple and transparent transaction of your newly obtained domain name.
Which Domain broker service should you choose?
Domain brokerages have been around for as long as the internet has been a thing. But not all of them are created equal. So, how do you pick the right one for your needs?
Well, it starts with doing your due diligence. You need to make sure that the brokerage you’re considering is reputable and has a good track record.
Ask for referrals from colleagues and check out online reviews to get an idea of what others have had to say.
Some brokerages deal exclusively with high-value domains, while others focus on small or new businesses names.
Make sure you find one that suits your budget and your business goals. Here is an article on how to buy a domain name that is taken.
And don’t be afraid to ask lots of questions, good brokerage will be happy to answer all your queries and help you make an informed decision. Also, don’t make these domain name mistakes made by startups.
Some brokers, especially, brokers that deal with high valued domains, may not have a ton of testimonials due to their biggest sales being done under an NDA for buyer or anonymity.
What does it cost to hire a domain broker service?
The most common answer to this question is brokers charge any where between 5%-25% and some even charge as high as 30%.
You need to think in terms of what is the price you are paying for the domain instead of what is the commission I am paying to a broker.
Keep in mind percentage of commission you are paying is based off how much you pay for the name.
So, this means a lower fee may not be actual lower price you are paying overall to obtain the domain.
Top level domain brokers are expert negotiators that are going to push for the best deal for you.
How does it work?
Here is the 6-step process on how a domain broker service works if you are buying a domain name.
6 step process on how to buy domain through a broker.
- You and the broker will pinpoint the domain you want and what you are willing to spend.
- The broker will evaluate the domain and will give you a ballpark of what the name should cost.
- Locating the owner of the domain name.
- Negotiation on your behalf to get you the best price.
- Coming to an agreement on the selling price.
- The transaction where the broker handles the contracts/ legal works and guides you through the process.
This is the generalized version of how your interaction with the broker will work from start to finish.
A good broker will guide you every step of the way and make sure this process is extremely simple for you.
The 6-step process on how to sell a domain name through a broker.
This is the process most domain brokers will use to sell your domain name though process may very from broker to broker.
- The broker will value your name and give you an estimate of what your name is worth and what it could sell for based on the current market.
- You will sign a contractwith the broker that allows them to work on selling your name.
- An experienced broker will make contactwith the top-level decision makers in 20-30 companies, marketing the value of your domain to them.
- Once there is a potential buyer, the broker will work in your favor to try and negotiate you the best deal.
- As soon as a deal is locked in the broker will deal with the contracts, and legal side of the transaction.
- The transactionwill take place via escrow.com.
This is how media options will go about selling your domain name, other brokers may choose to do this process differently.
How do they help you?
A domain broker will bring you value in many ways when acquiring or brokering a domain for you.
When you hire a domain broker you are hiring an expert that has years of knowledge and experience in the domain industry.
A domain broker service gives you anonymity throughout the process of buying a domain name. This is important because you this gives you the leverage you would not have trying to negotiate on your own. If the owner knows who you are, they might increase the price or simply not sell it to you because you don’t seem credible.
Brokers offered a simple and smooth process. From start to finish the domain broker does the work and will guide you on what you must do. A broker deals with the legal side of paperwork such as contracts and transaction.
An expert broker that has experience will be knowledgeable in the best way to negotiate and approach owners. After owning a domain name for many years owners can have an emotional attachment which can make negotiating a domain name complex. Without the right experience you would not know how to approach the situation, this is why you hire a broker.
Insights on Domain Name Value
Brokers deal with thousands of domain names every year and know what you should be paying for a name. They have the authority to speak to any owner on what their domain name is valued at. A domain broker service will make sure you don’t overpay for a domain.
They will push to stay close to your budget
:Once you have a budget, depending on what the domain is valued, the brokers will push to stay within it. Brokers will push with the owner to obtain a deal that benefits both you and them.
Looking for an expert domain broker?
Check out MediaOptions.com and reach out to us for a free consultation.