Domain Broker: A domain broker is a person or organization who helps the domain seller to sell his or her domain at fair market value. Though the definition of a domain broker is a bit vogue but asking a good domain name broker to sell your domain is a smart move, especially when you see that nobody is willing to buy your domain at your desired price. Well, it doesn’t mean that a broker will sell it at a much higher price than what it actually worths. Usually, domain brokers will sell your domain at the best current market value. The higher they can sell your domain the more profit they can make from the sale. So, it is a win-win game for both sides.
Now, there are still a few questions like: when should you consider hiring a domain broker service? How do you find a good domain name broker? What does a domain broker actually do? etc and so on. Let us drive a little bit deeper and find the best ways to sell your domain using a good domain broker.
What Does A Domain Broker Do?
A domain broker does a lot of things to sell your domain at a fair market price. From appraising your domain to finding & negotiating with buyers and finally selling at a great price. Now, maybe it sounds easy to you but actually it’s not. Just think, why do you hire a real estate agent when you want to sell your home? Well, I think you already got your answer. Now, let us get into details.
Domain Appraisal & Research
Every domain broker is responsible for the initial appraisal and background research on the domain he/she is trying to sell. Why is that? Because you may want to sell your premium domain that you think worth $15000. It’s the broker’s duty do appraise the domain and check if the fair market price is actually $15000 or not. The fair market price can be above $15000 or it can be even below $15000, maybe $10000? Now, the broker will check the strength of your domain if there is any chance to sell it above $10000 or not. How will he do it? Definitely by doing research. So, he will find the strength and weaknesses of your domain name to persuade potential buyers. If you are interested in learning more about “Domain Appraisal” then check the following blog post.
Finding Potential Buyers
This is the most vital duty of your domain broker and trust me, finding the end user for your domain is not easy. Domain brokers have their own contacts and network for this. Your broker will spend many hours to find those potential buyers, will send and receive many emails and will answer many phone calls and finally will negotiate with the buyers. The better negotiator your broker is the better. Because it is a mandatory skill of any domain broker.
Now, the potential buyer can be a person or can be an organization. It is your broker’s duty to face and negotiate with buyers on behalf of you. If the buyer is an organization then your broker may need to deal with some documentation.
Finally, Selling Your Domain To End-User
Yes, this is the last but an extremely important one. Selling domain to another middleman will make the price relatively low. So, to ensure the highest possible price, your broker will try his best to sell your domain to the actual end-user. Confidentiality is extremely important and your broker is also responsible for the transaction. But you may have your trusted escrow service if you want. Usually, your broker will deal with that.
When Should You Hire A Domain Broker?
Well, not every domain is a premium domain and you can’t expect all of your domains to be premium unless you bought only premium domains obcourse. Now, the question comes, should you hire a domain broker? if yes then when and how? How to understand that it is a good time to hire a broker? You should also understand that even if you want to hire a broker, he or she may agree or disagree depending on your domain portfolio. It is understandable that a broker will not spend his time on domains that will not make much profit from selling. Here are some tips:
- You have a great domain portfolio that consists of many premium domains and you don’t have enough time to look for buyers for so many domains. An extra helping hand can give you some breathing time. So, now is your time to hire a domain broker.
- You don’t have many domains but you have a few extraordinary domains. You are trying to sell them but you don’t know where to find potential end-users. Now is your time to look for a good domain broker.
- You have an extremely high priced domain to sell and your potential buyer or end-user is possibly an organization. You need a good negotiator for cutting a good price.
- You have a great domain portfolio and also got some good buyers but your negotiation skill sucks. So you need someone who can negotiate with your buyers on behalf of you.
- If you want to buy a domain that is already purchased by somebody and you want to make an offer to the owner.
These are the most common scenario where a domain seller may seek help from a domain broker or look for domain broker service. Usually, the seller tries to contact a broker to sell domains but it can happen both ways. As you know a domain broker study and research on domains. Sometimes a broker finds that a domain has a very high price on fair market value but the current owner is not aware of it. In this case, the domain broker takes the initiative to contact the seller first. Sometimes a buyer may hire a broker for buying a highly-priced domain and for negotiating the price. But it happens seldom. Most of the time sellers contact brokers for selling their domains.
How To Find A Great Domain Name Broker?
It’s not hard to find a domain name broker but its really hard to find a great one. A lot of brokers are out there for hire but you don’t need a broker who has a little domain selling portfolio. You can find two types of domain brokers. One is a person who is a broker and the other one is an organization that offers broker service. Well, it doesn’t mean one is more costly than others. The price differs. Sometimes they ask for a fixed price for their service and sometimes they may ask for profit share(very rare) or a percentage of the selling price. Remember, if your domain portfolio is not good enough then brokers may not want to serve you, even if you want and offer a good price. I think you understand that nobody wants to waste time selling domains that may little value.
Domain brokers are like any other group of professionals and it’s easy to find them by a simple search. But you need a great broker. It can’t be just anyone who is willing to sell your domain. So, here are some places where you can easily find a great broker
- By a simple search: Search google and you will find websites where domain brokers are offering their services. Read through them and take a closer look at their portfolio. To find the best broker for your domain, you need to do some research on their profile. Like: how many exceptionally good domains they have sold, what was the highest valued domain name? etc.
- Different Domain Related Forums: There are different domain-related forums where you can find domain brokers. As I said earlier, don’t just jump to a broker unless you are sure of his capability and do your own research.
- Domain Buying & Selling Blogs: It’s easy to find a great broker from domain buying and selling blogs as brokers share their experience, techniques, and expertise. An example can be “DNJounal.com”. Remember, never hire a broker unless you are sure that he/she is the right one for you.
- Domain Marketplace: Some domain buying and selling marketplaces offer domain broker services like Sedo, Flippa, etc. Feel free to check them out if you want to give them a try.
Well, those are some common ways to find a great broker. But if you are an experienced domain seller, then it is much easier for you to find a great broker. Because chances are you already hired domain brokers a few times. If you think highly of any of those brokers you have previously worked with then it’s better to contact them. Because you have already built a relationship with them. Still, it’s your choice.