Anyone dealing with Latonas.com?

[Gerry]

I received an email from a domain broker relating that they have a client interested in one of my names.

I am not too cool to the fact that they tell me to keep in mind they charge a 15% brokerage fee.

Something seems to be real screwy in this industry...they contact me and tell me I pay a 15% brokerage fee??? Most "normal" businesses and industries pass the brokerage fee on to the client they are representing - in this case the buyer.

Let me guess...the total fees are perhaps 30%...a 15%/15% split.

 

[silentg]

They're approaching you and the ball is in your court. Tell them that their client will have to pay the brokerage fee.

 

[exxe]

SEDO's brokerage fee is also 15%... and AFAIK it's applied only on the seller

 

[Bill Roy]

Doc, simple answer is take the 15% into account when pricing the domain. So every $1,000 you would normally ask now make that $1,175 (well actually $1,176.47 being pedantic about it).

Simple and effective solution I would have thought.

 

[ukbackorder]

I'd wait for the buyer to get in touch with you directly. Make sure there are clear contact details in your whois. I'd also tell the broker that. (Make sure you find out what the buyer is offering first though)

 

[Gerry]

Doc, simple answer is take the 15% into account when pricing the domain. So every $1,000 you would normally ask now make that $1,175 (well actually $1,176.47 being pedantic about it).

Simple and effective solution I would have thought.

Yes, I take that into account.

But, they are representing a client at this point. They are not representing me.

---------- Post added at 02:34 PM ---------- Previous post was at 02:34 PM ----------

They're approaching you and the ball is in your court. Tell them that their client will have to pay the brokerage fee.

Done.

---------- Post added at 02:35 PM ---------- Previous post was at 02:34 PM ----------

I'd wait for the buyer to get in touch with you directly. Make sure there are clear contact details in your whois. I'd also tell the broker that. (Make sure you find out what the buyer is offering first though)

Done.

I also related that they already know what the buyer is willing to spend. Since I am representing myself, I have asked them to pass on to me the MAXIMUM amount this buyer is willing to spend. Then I will take into account if the total minus 15% is worth the sale or not.

 

[Theo]

I had an offer with Latona's as the broker, for an LLL .com for 1/3 the price I ended up selling it. You might want to hold.

 

[Gerry]

Doc, simple answer is take the 15% into account when pricing the domain. So every $1,000 you would normally ask now make that $1,175 (well actually $1,176.47 being pedantic about it).

Simple and effective solution I would have thought.

Not as simple, really. If you look at Latonas.com TOS, read closely and you'll find that you are essentially entering into the realm of exclusivity, meaning anything and everything has to do with this name NOW and IN THE FUTURE has to go through them.

EXCLUSIVITY: During the Term of the Agreement, Seller agrees not to use, appoint, hire, retain or engage any person or entity, other than Latona's, to act as Seller's agent, sales representative or in a similar capacity with respect to the Domains. In the event that Seller sells or markets the Names directly to a buyer or through any person or entity other than Latona's during the term of this Agreement, Latona's shall be entitled to receive the Fee as set forth herein.

So as of this moment, I am agreeing to nothing.

Things are not as simple as one would imagine.

 

[Theo]

What is the length of the agreement? It can't be forever. It's usually 30-120 days.

 

[Gerry]

I had an offer with Latona's as the broker, for an LLL .com for 1/3 the price I ended up selling it. You might want to hold.

It is a two word, English Dictionary dot com, exact match phrase, keyword term, 10 years old. Traffic has been picking up.

---------- Post added at 02:49 PM ---------- Previous post was at 02:48 PM ----------

What is the length of the agreement? It can't be forever. It's usually 30-120 days.

Precisely why I am not entering into any agreement at this point.

 

[stewie]

sounds like double dipping... ound:

 

[WeBuyThe.Com]

What's the name? There are plenty of cash buyers on the forums hunting for the next deal.
Best of all no 15% fee!!

 

[A D]

They have done this alot lately, expect a lowball offer... many folks are getting them.

-=DCG=-

 

[WeBuyThe.Com]

We got one of these offers in our inbox but assumed spam. What was the address the solicitation came from?

 

[Gerry]

What's the name? There are plenty of cash buyers on the forums hunting for the next deal.
Best of all no 15% fee!!

Yup, and plenty of forum members offering $15 or $20 bucks...

...and want you to pay renewal!

---------- Post added at 06:11 PM ---------- Previous post was at 06:05 PM ----------

They have done this alot lately, expect a lowball offer... many folks are getting them.

-=DCG=-

Here's the situation...vague statement regarded alleged interest in a domain name. Immediately they disclose a 15% broker fee.

But there is no offer accompanying the email.

Why would I (or anyone) enter into an agreement for them to broker the name without a legitimate offer to accompany it? What if this is simply a means to get domain owners hooked into a scheme to obligate to give them 15% if it sells...by any method?

Not sure why people would enter into something like this blindly.

Thus far, I have gotten no response and frankly - I don't expect to since I provided to them my terms.

---------- Post added at 06:12 PM ---------- Previous post was at 06:11 PM ----------

What was the address the solicitation came from?

(broker's name)@ Latonas dot com

 

[A D]

Thus far, I have gotten no response and frankly - I don't expect to since I provided to them my terms.

Consider it lowball spam because that's what it is.

-=DCG=-

 

[Gerry]

Consider it lowball spam because that's what it is.

-=DCG=-

Ah, man... I get enough of that here... :sigh2:

 

[Tia Wood]

I thought Latonas quit brokering domains? :?:

 

[Jeroen]

I thought Latonas quit brokering domains? :?:

He made an announcement recently.

http://www.ricklatona.com/2011/04/0...ays-toby-to-launch-his-own-domain-newsletter/

 

[Gerry]

Today is the third day since the initial contact.

There has been no response since I made my reply to them.

Gee, what a surprise...