DNS Brokers May Have More Insight Than Us
Many of my domain names are parked on the DomainNameSales.com platform, so a fair percentage of the offers I receive on my domain names are submitted via DNS. When I can’t get a buyer to reply to me, or if I don’t think I will have luck negotiating with the buyer (or I am busy), I forward the lead to a broker from DNS. In addition to their skills negotiating, the DNS brokers may have another tool not at my disposal: data.
For people who have very large portfolios and receive many offers for their domain names, a useful tool is the “Inquiries by Buyer” tab. If a person has made offers for other domain names in a person’s portfolio, this tool will allow the owner to track those inquiries. Knowing what the person offered (or paid) for a different domain name can give valuable insight, and that information can be used as a comparable. For instance, “You offered $x for x.com, and we feel y.com is worth 1.5x that offer.”
For most people, though, this tool isn’t very helpful. I don’t have many repeat DNS buyers / inquiries, so I don’t glean any insight from this tool. I would presume that most others are in this position as well.
I would imagine brokers from Domain Name Sales have access to information about buyers from across the entire platform. If a buyer made a $10,000 offer via DNS for a domain name owned by someone else that uses DNS, I wouldn’t have access to this data, but a DNS broker would. They can use information from previous inquiries and sales to offer pricing guidance.
I reached out to Jeffrey Gabriel, Vice President of Sales at Domain Name Sales, and here’s what he had to say about this:
“We take all of our customer’s private information they trust with us very seriously. We do not share it with anyone. With that being said, we use many tools to assist our Brokers in qualifying leads, shortening the sales cycle, and maximizing sales prices for all of our customers. We have buyer’s on our platform that inquire on many domains at once or have over a long period of time. Seeing their history can help us qualify the buyer at times, HOWEVER going into an opportunity with a preconceived notion might not be the best approach. Keeping an open mind, a positive attitude, and being prepared for that specific deal is more valuable than anything else.”
I don’t really need or care about having this information for myself if the broker is able to use it on his or her own to get me a better sale price for a domain name.
This was discussed on Domain Boardroom, and I received permission to publish this here because I think it might be beneficial to others.
Reach out to Elliot: Twitter | Google + | Facebook | Email