For Domain Brokerage, Size Does Matter
This is a guest Post by Dave Evanson, Senior Domain Broker at Sedo. I asked Dave to write about the differences between working with a large domain name brokerage and an independent domain broker. Previously, Andrew Rosener wrote an article about the benefits of working with an independent domain broker.
There are certainly some capable independent brokers in this business, and I commend them for their ability to deliver for both domain buyers and sellers. However, even though there are situations where an independent broker’s services may be preferred to those of a large brokerage firm, there are some crucial benefits to working with a large firm. Having been an independent broker myself, I joined Sedo knowing that the vast resources the company has at its disposal would enable me to get better results for clients. At the end of the day, working with Sedo, I have better tools and more time than I would working independently, and so I get higher prices for sellers and great deals for buyers.
First and foremost, Sedo has the largest and most comprehensive database of known domain buyers and sellers. This includes both domainers and end users across almost every industry worldwide. When launching a marketing campaign to sell a premium domain, one of the first steps is to check out our internal buyer database, where I can filter by vertical, type, price, language, and a number of other factors. I also try to find out whether buyers are domainers or end users. The global nature of the domain industry is reflected in Sedo’s sales team, too: we speak over 20 languages, and often collaborate to help close deals if another broker has specific language proficiencies, client relationships, or more in-depth cultural knowledge if we’re working across borders. Given that Sedo does business in over 200 countries and is the world’s largest domain trading platform, this comes in very handy!
Reputation is also very important: Sedo is recognized, trusted, and highly respected around the world. Sometimes, we hear from buyers and sellers who prefer to do business with Sedo because we are part of a publicly traded company. Both buyers and sellers know that, as a trusted domain industry company, our outreach gets through the clutter and reaches decision-makers. We are also well-placed to process and convert qualified inbound leads via our marketplace, auction platform and brokerage staff.
Going beyond our sales database, we also have research analysts and other support staff to help target and identify prospects. These coworkers assist brokers so that they can complete deals at desired levels and within our clients’ preferred timelines. Access to our finance, legal, appraisals and domain transfer teams among others is particularly helpful when a client is looking for something unique or special. We also have a very large and popular parking program staffed with experts who optimize monetization for our clients. In addition, like some independent brokers, we usually use commercially available databases and sometimes employ press and marketing promotion for expanded outreach when selling a premium name.
Sedo’s brokers are also empowered with sufficient autonomy that they can remain client-focused and are able to tailor solutions when appropriate. We certainly work within the internal policies and guidelines, but at times exceptions are made to get the job done. This means that clients get the best of both worlds: not only huge global reach but also custom solutions. While independent brokers may offer more flexibility on some very targeted brokerage deals, the tradeoff is that the client might get less outreach.
Sometimes, good things do come in small packages. But there is also strength in size and numbers. Even with my experience working independently, I find it helpful having in-house experts, including skilled brokers, to bounce ideas off of on behalf of clients, as well as databases of information that you only get working with a company that has 12 years’ experience in the industry. Leveraging the strength and expertise of our organization makes it easier to get better results for clients, and that is our goal every day.