The Benefits of Using a Broker – Guest Post

Guest Post by Mike Robertson

It gives us great pleasure to post an article by a good friend and fellow domain name professional Mike Robertson.

Mike is one of the nicest people in the domain industry, and his knowledge and contacts are almost second to none. He has worked in both Australia and the USA, and if I have any questions about dot com domains, Mike is my first point of call.

Since 2002, Mike Robertson has helped companies strategize and acquire their dream domain name, as well as assisted clients sell their premium domains. He has also provided Business Development services; identifying new opportunities, building and fostering successful business relationships and partnerships.

To read more about Mike, here is his website and LinkedIn.

The Benefits of Using a Broker

Author Mike Robertson

Given that the first domain name was registered almost 40 years ago, it’s fair to say that “all the good ones are taken.”

That said, this doesn’t mean they are unobtainable.

Many domains are owned by professional domain name investors, who, like real estate investors, secure these digital properties and then make them available for purchase or to be leased.

Other domains may be sitting dormant, unused, or abandoned by their owners. And even if a domain is in use, that doesn’t necessarily mean it’s unavailable. As the saying goes, “everything is for sale at the right price.”

How does one go about purchasing a domain name?

Yes, it’s possible to do it yourself, but having a professional can make the process easier and more efficient. Purchasing a domain isn’t an everyday activity, and the process can be confusing, complex, and daunting.

Having a domain name broker with industry knowledge and experience to guide and navigate you through the process will ensure a smooth transaction and help you avoid costly pitfalls.

Advantages

One of the most obvious advantages of using a domain broker is the ability to remain anonymous.

The vast majority of my clients require confidentiality throughout the transaction, fearing that their identity might influence the owner’s decision to sell or affect how they value and price the domain. Maintaining this layer of anonymity can often lead to a more successful and favorable outcome for the buyer.

Moreover, an experienced domain broker can provide an accurate and fair valuation of the domain name.

Having someone to educate buyers on the benefits and worth of a domain is invaluable and ensures that they don’t overpay.

A broker can also leverage their industry knowledge and experience to advise on different ways to structure a deal. Unbeknownst to many, there are various options when it comes to securing a domain. Beyond a straightforward cash purchase, owners are often open to payment plans or lease arrangements with an option to buy.

Uncovering ownership details and establishing contact can be one of the most challenging aspects of purchasing a domain.

An established domain broker with years of experience will have a vast network of strong relationships to tap into.

Having contacts at various domain registrars is incredibly beneficial, especially in today’s world, where many domain ownership details are masked by privacy protections or have been redacted due to new General Data Protection Regulations (GDPR).

There is a definite art to negotiating deals, and this is another key benefit of using an experienced domain broker.

Emotions are one of the main reasons negotiations fail.

A broker acts as an impartial intermediary, managing communication between buyer and seller and mitigating any emotional reactions from either party.

Including a broker in the process is an invaluable asset when it comes to navigating the fulfillment and transfer of the domain name.

Once an agreement is reached, a broker can assist with any contracts and legal agreements that may be required.

They can also handle all aspects of the escrow process, including the creation and verification of accounts—an increasingly important task in the current environment, where Know Your Customer (KYC) requirements are imperative and can be a challenge to manage.

Having been involved in thousands of domain name transactions, I understand that the process can be time-consuming and often requires patience and persistence.

By involving an experienced domain broker, you can focus your time, energy, and resources on running your business.

If you are in the market to purchase or upgrade your domain name, save yourself the hassle and hire a domain broker to handle the complexities of securing a premium domain.