The Joy of Domaining – The Sale

Leave a Comment0

Editors Note: We have an affiliate relationship with Sedo, and make seek advertising relationships with companies mentioned in this post.

Are you receiving these messages below. Look at your past year and see how often your selling names. Once a month, once a week.  There is a number out there for how many names you should sell, 1%. You should be selling 1% of your portfolio.  I say baloney, do better. The 1% lets you make excuses for the 99% of your names that don’t sell.  Read our prior post here.

Now if your asking top top prices; and truly doing 1% keep it up!   Still, I would recommend keeping a close eye on your names and the current demand. Don’t hold declining themes – you have to sell early to sell all your inventory.

Here are the ways I sell and get paid for selling domain names at retail. I’ll also have some of the strangest ways I have sold domains at the end.  I have these subject lines forward to a text alert for me so I can remove names from other platforms, plus these are the fun messages.  Much better than the bulk spam inquiries.

We all want these emails in our inbox every morning.

 

Escrow.com – “A New Escrow Transaction Requires Your Agreement”

Domain Name Sales Escrow.com

For me the escrow.com message are the nicest. Whether the sale is a buy it now on my parked pages (Efty) , selling names in a newsletter, or bigger names with another domainer;  I know I’m usually paying a smaller or self negotiated commission, or no commission, and its usually a bigger deal or name.  And I can usually get the buyer to pay 1/2 of the fees.

If I am doing outbound I can close the end user with the prestige and comfort of escrow.com.  Also, the escrow agreement is close to domain sales agreement. Buyers are nervous about being contacted online, the credibility of escrow – and escrow.com helps.  And I can start doing a false close by describing the trusted process as I get closer to negotiating the final price. Lastly If I am using one of my paid brokers, or lead generators; they know they can arrange their payment straight out of escrow.

Further, I don’t have to wonder about charge-backs from Paypal. (Up to a year from transaction date)  I’ve got a nice transfer of title and clear proceeds.  I also use Escrow.com as a payment option on my specialized domain store for Emoji Domains (better integration coming soon when the Shopify Plug-in Works), .LA Domains and DomainOutlet.com. If your doing a high dollar sale at Godaddy Auctions you will use Escrow.com also.

Using Escrow.com on my stores will become more important as I ramp up direct marketing, using the commission savings to pay for sponsored posts and buying reach for Emoji Domains, my .LA promotion and Real Estate Domains.

Escrow.com lets me handle the delivery to the buyer. I feel I can reinforce sureness and provide education on the process. I control communication of the EPP codes, holds or even do the registrar transfer for the buyer (then push to them). I have their contact information for follow-up or future problems or issues. With marketplaces I don’t have the buyer info and have to trust the admins will communicate well and timely, and I don’t control delays.

Uniregistry buyers can sometimes pick escrow.com.  If I am brokering a domain name sale, I can start a transaction as a broker, and get my share directly from escrow and help control and manage the sales process.  Escrow.com helps me with names I have financed or partnered on, with the financing company or partner releasing their interest in the name only if, and knowing they will receive, the proceeds direct.

Afternic   “_______ Sold Auth code needed…”

Or it may be an Afternic message.  Usually means a retail priced buyer if through their reseller network. Even though I’m paying 15-20% commission I add that to my pricing so I know ill be happy with my net.  The eight day or more wait on the premium names program is a little troubling, I guess for me if the buyer has paid, the money should be sent on to me, but its still a great way to sell names. These are high margin sales and you should be doing at least 1/5 to 1/4 of your sales at full retail, with Afternic and others.  That gives you the margins you want and confirms your buying the right names.

SEDO – “We are pleased to inform you ….”

I get less and less from Sedo these days, hoping the new management team returns to growing the market for domain name investing as they did in the early 2000’s. And I hope they fix the site search.  Still a nice email, usually an offer but the Buy it Now comes through as “We are pleased a buyer has accepted your price..”

 

Godaddy Auctions – Your Domains has Sold

I am  doing more and more of these names. I seem to do more non traditional tlds and cctlds with Godaddy Auctions. And things are improved. The team at Godaddy Auctions has really worked on their systems.  Agreement, transfer and payment to me the seller has sped up considerably. My last few sales have been in 2-3 days. There is an extra added benefit for newly registered names since delivery is Godaddy account to Godaddy account,  I can sell names in the first 60 days after acquisition.

Be Ready to Sell Anywhere

Now again, I am not opposed to messages form Brandbucket, or an out of the blue email saying I want to buy your domain name.  Over the years I have been paid from Russia to my local Wal-Mart in immediate cash.  I have invoiced buyers and let them send me a paper check.

I have used my own marketplaces for sales. I have done segmented stores in coaching, GEOS, Green, Sports and my DomainOutlet.com – wholesale prices. I have used efty stores, woo-commerce stores and Shopify.   I have listed names in newsletters and in bloggers posts.

In some deals I took cash and tickets to a golf event, cash and chocolate bars, and other barter.  I got paid in cash at a Namescon for a name tip one year for my old DomainTipsheet.com. I have sold for some equity in new company. I have sold names on Ebay and Craigslist. Early on we had a kiosk at an outdoor mall in San Diego and sold names right to customers. Gave them a nice paper certificate and wrote our premium names on a blackboard above 6 laptop computers customers could search on.

The biggest sales for me have been wired proceeds from auction houses.I have sold names for crypto-currency, including part Topcoin. Sometimes its an agreement or attorney escrow and wire instructions for the cash component, and that usually means a big transaction. I have done option agreements, leases, sold on Namepros and other forums, Bido, Newsletters (like Dn.biz – signu above) and registrar marketplaces like Dynadot and Namecheap.  And lastly, for those of you Randy Moss fans, there is always Straight Cash Homie!!

Domain Name Sales

This past May Sold a Geo to a repeat buyer in Monteagle.

In closing, selling everywhere means a responsibility to update each platform immediately. You also need to have your own database to be able to list everywhere. Watch form coming posts on each.

 

Leave a Comment

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.