Brokering Domains

[charley]

How can I make the deal between the buyer and the seller?

I don't want the buyer or seller to directly contact and therefore RIP me off with the broker commission.

[jacksonm]

Originally Posted by charley

How can I make the deal between the buyer and the seller?

I don't want the buyer or seller to directly contact and therefore RIP me off with the broker commission.

There is only 1 failsafe method: make the domain owner transfer ownership of the domain to you during the broker period, with some sort of contract in place, of course.

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[charley]

make the domain owner transfer ownership of the domain to you during the broker period,

Can that actually take place? How can the seller be assured that I won't run away with it

with some sort of contract in place,

What happens if myself and the seller are in different countries ?

[jacksonm]

Originally Posted by charley

Can that actually take place? How can the seller be assured that I won't run away with it

What happens if myself and the seller are in different countries ?

I am not a lawyer, and certainly not your lawyer. If you want to do this type of business, I suggest hiring a lawyer with international business experience to help you draw up the contracts, etc.

Logically speaking, however, that is the only foolproof method, because the buyer can always contact the seller directly via whois information. Even cloaked email addresses in whois will forward to the owner's real address.

.

[Rubber Duck]

Originally Posted by charley

How can I make the deal between the buyer and the seller?

I don't want the buyer or seller to directly contact and therefore RIP me off with the broker commission.

I think you might be getting a bit over excited. Most sensible sellers would not wish to alienate a broker that is providing a useful service, unless the fees being charged were extortionate.

[charley]

Most sensible sellers would not wish to alienate a broker that is providing a useful service, unless the fees being charged were extortionate.

So you mean that I tell the seller who the buyer is and ask him to pay my share of commission ?

[Olney]

I don't know about others but I know I'm not transfering over domains to a broker before a contract for a sale is in place. Especially if it isn't a corporate entity.

[Rubber Duck]

Originally Posted by charley

So you mean that I tell the seller who the buyer is and ask him to pay my share of commission ?

Most business is about confidence. If you do a deal and you get ripped off, then you don't deal again. If you don't get paid your commission, the downside is no greater than if the deal falls through. Most Sellers would not wish to jeopardise the deal over the commission, when there is no clear evidence that they would be able to leverage significantly more out the buyer anyway, and could well scupper the whole transaction. It is all about reputation. I never have to use Escrow. People just send me the cash. Why? Because I am trusted. What is that reputation worth? In a word EVERYTHING.

[charley]

RD, I will take your advice and test it for one of the requests. Let's see if it goes well.

BTW, just wanted to know is 15 % of the sale exhorbitant ?

What happens if myself and the seller are in different countries ?

I don't know about others but I know I'm not transfering over domains to a broker before a contract for a sale is in place.

Olney, what happens here ? How can a contract be written ?

[Olney]

I'm saying I personally don't transfer domains to anyone just doing negotiations. After the agreed full amount or agreed first payment is paid, it gets transfered. I don't see a reason for a broker to have the domain while just talking through a deal.

Others might not see it like this but this is how I feel.

[yanni]

5-10% is the norm, depending on the selling price. The higher the price the lower the com.

[charley]

1. Which service is the best and cheap?

- Sedo Escrow

- Moniker Escrow

- Escrow

2. To get a escrow account to function, is registration the only requirement ?

[Rubber Duck]

Moniker, I believe. You might also look at IDNBond.com

[charley]

Ty RD.

Another question, when the buyer send the payment, should I tell him to send the commission % ge to me and the rest to the seller, as the domain will be with the seller. Will he agree to that ?

[Rubber Duck]

Originally Posted by charley

Ty RD.

Another question, when the buyer send the payment, should I tell him to send the commission % ge to me and the rest to the seller, as the domain will be with the seller. Will he agree to that ?

I think this doesn't sound like a good idea. If I were the buyer, it is suggesting to me the you the intemediary do not trust the Seller. If you as a broker are not prepared to trust your Client, then should I really be getting involved at all?

[Drewbert]

Quite honestly, with the sort of questions you're asking, I don't think you're going to cut it as a domain broker.

[charley]

Quite honestly, with the sort of questions you're asking, I don't think you're going to cut it as a domain broker.

Ok, geek,lol !

Do you mean to say that everyone who started out as a domain broker, was an expert at it?

If you aren't interested in assisting keep away from the thread. Simple as that.

[Drewbert]

Well, most of the questions youve asked - apart from the bleeding obvious ones that a potential domain broker should have the brains to figure out alone - could have been answered simply by visiting a few sites, and/or google.

That you've taken the lazy option of asking stupid questions here, says a lot about how good you'll be at going the extra mile during a tricky domain sale negotiation.

It sounds like to need to get in a bit of practice selling your own names before going out into the big scary world and doing it "professionally".

[Alphamale]

charley - listen to the geek - he talks sense.


just becuase you read a rags to riches story in DNJ about domain brokering, doesnt mean it is for anyone...

.. if i remember that DNJ story, the guy did come from a sales background anyway - so it was just a case of adapting from one environment to another.

I wish you luck - but don't give up the day job just yet

[Rubber Duck]

Charley, your problem primarily is that it is the likes of Drewbert, Alphas and myself that you need to convince that you have have the market knowledge that makes us want to give you a slice of the cake.