5 Tips for Domain Brokers
It seems like every day, I am asked to broker some domain names. Since I don’t broker names, I generally refer these people to a list of domain brokers, unless the names they present aren’t of good quality. Everyone thinks their names are valuable, but it doesn’t make sense for a broker to take on domain names they don’t feel will sell due to quality or price.
One thing I’ve noticed is that there seem to be new domain brokers entering the market every day. There are very few barriers to entry, no special licensing required, and all it takes is some drive and a bit of knowledge about the domain market. That being said, I’ve seen some feeble efforts at selling domain names, and I want to give some advice to those who consider themselves domain brokers.
Here are some tips for domain brokers:
- Do a Google search for the full domain name in quotes (“xyz.com”) and the word domain or domain sale to see if the name was on the market before, it’s listing price, and if it sold. It’s embarrassing to list a name for sale at a higher price than when it didn’t sell at auction the week prior.
- Get confirmation from the domain owner that you are the only person brokering the domain name. If others are brokering it, make sure the price is the same. Get your exclusive or non-exclusive broker’s agreement in writing.
- Unless you have permission, don’t try to add your own margin to the domain name. I think it’s unprofessional of you to take money out on the front end and back end of a deal.
- Don’t ask other domain investors that you don’t know who they think might be interested in buying the domain name. You’re suppose to be a domain broker, and it’s your job to find a buyer. If I thought someone was interested in buying it, I would let that person know myself.
- Don’t be rude to potential buyers, even if they are rude to you, and certainly don’t lie to them when negotiating. Your reputation is the most important thing you have, and if it gets sullied, you are done. People have long memories and Google will bring any negative articles about you right to the top.
- Simply posting your brokered names for sale on domain forums is lazy. Domain owners want end user sales, and if they think you are just posting to get a wholesale offer, you aren’t representing the domain owner’s best interest.
What do you think of these tips? What did I miss from the list?
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