Before an individual begins the process of selling a domain name, they often think of the pros and cons of hiring a broker to assist them in completing the transaction.
It is true that domain brokers do not work for free and typically receive a small percentage of the sale of the domain. However, if a broker is able to negotiate a win-win deal where all parties walk away happy and save you time and stress it can certainly be worth the reasonable investment.
This week, we interviewed Simon Saleem. Simon is one of Above’s domain brokers. We wanted to get some insight from him on how domain brokerage works. He was happy to share his personal thoughts and experience.
“The whole purpose behind using a broker is having someone who’s on a high level sales-wise going out there and getting the right dollar amount for your domain name. Many times when a seller gets an offer, they’re excited. If it’s anywhere close to their asking price, they’ll usually bite. A broker can really identify how much a domain name is actually worth. Having a broker alleviates the hard work that is required to negotiate a deal.”
Brokers understand that most private sellers aren’t salespeople by trade and not used to the amount of rejection that comes along with finding the perfect buyer. This can be discouraging and make a seller question their asking price and strategy. If you’re looking for an end user, you’ll likely have to engage in some cold calling.
“If you’re doing a cold call, you’re reaching out to a new potential buyer that actually has no interest in the name. You called them out of the blue, but we have the expertise to paint that picture for them. For example, if you’re selling a great one-word brandable you might look for a new start-up company. You explain why buying that domain name is going to be worthwhile for them and for the future of their company. It’s going to take them to new heights.”
Finally, when asked about how Above’s brokerage team differs from other domain brokerage services, Simon had this to say:
“Using us, you’re going to get a total of 30-40 years of sales experience and the negotiating power that we have. We go the extra mile. We go out there and network with current clients, with other brokers, and with as many people as we need to get the deals done.”
If you’re interested in buying or selling premium domain names contact the brokerage team today!
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