Brokering...

[GT Web]

After many conversations, with many people, I just want to make a statement to people wishing to broker names or have their names brokered.

If you are a broker, please watch out, as I have learned it is not as simple as you might think, trust the people you are working with and choose them wisely. I have met some amazing people in the short time since I started brokering names and some people I wish I had never met.

If you are having your names brokered, be kind and generous to your broker, dont treat the like scum because you own an awesome name and they dont. Always provide stats if they are requested (if you want your names to sell of course) and tell your broker what things you do not want them to do before hand (publicize your holdings, for example).

So, as I move forward, I will still broker names, but only for people who can be trusted and respect me. Sorry for any tension this has caused on the board (the thing with Warren and myself). He seemed quite ready to tell other people that I was doing something evil, and then when I would phone or email him he would be all sweet and sappy.

Just keep that in mind....

Thanks

 

[peekaboo]

don't worry about warren. the guy is a world-class b.s.-er... and don't let his board "buddies" attack you about that "sedo" thing. they make him sound like some naive "flower petal," when in fact he is one of the cunningest manipulators in existence, who knows exactly what he is doing and why is he doing it, and whose ways of previous dealings have gotten him in trouble (legal or otherwise) many times, both with other domaineers, as well as end-users.

 

[Deleted member 4749]

You gotta know who you deal with.

 

[Steen]

(publicize your holdings, for example).

I don't mean offense, but I would not be happy with a "broker" who tries to sell my name's by posting them publicly on a forum.

I wouldn't even call that a broker.

 

[Edwin]

I don't mean offense, but I would not be happy with a "broker" who tries to sell my name's by posting them publicly on a forum.

I wouldn't even call that a broker.

I'd have to agree. My idea of a broker is somebody who actively solicits buyers that I couldn't easily have found for myself. I'm not going to pay somebody 10-20% for typing up a post that I could just as easily have put up myself!

By definition, ANYONE posting on the Domain Brokering forum is going against that idea...

 

[Steen]

Those were my thoughts as well Edwin.

As well, I generally do not like complete lists of my domains published.

 

[GT Web]

it depends on the owner...

for those who do not know about this site, they find it a great thing to have their names publicized. The one name I brokered on this forum was a perfect example. The guy didnt mind if I posted the name publicly, and he got a great sale out of it. Everyone wants something different, so its best just to explain it up front.

 

[Steen]

Everyone wants something different, so its best just to explain it up front.

Quite right!
Always be upfront and don't try to hide anything, it will bite you back later in most cases.

This isn't focused on anyone just something I would advise.

 

[GT Web]

wow Steen, we agree on something :-D

 

[Steen]

wow Steen, we agree on something :-D

I take back all my above comments :wink:

 

[theparrot]

it depends on the owner...

for those who do not know about this site, they find it a great thing to have their names publicized. The one name I brokered on this forum was a perfect example. The guy didnt mind if I posted the name publicly, and he got a great sale out of it. Everyone wants something different, so its best just to explain it up front.

It probably is also best for you to ask them, sometimes people do not know what they want, or think you already should know what they want. Maybe you can make a brief form that covers this for new clients?

 

[URLCollection]

We have been brokering domains for the past 5-6 years. Hard road if you do not watch who you are representing and contract all details in advance. The only way to make it happen for all parties is an end user direct marketing model, in most cases, unless you we are doing large bulk wholesale deals ($100K and up). Very time consuming and just simply alot of work. We have over 400K brokered domains under contract for sale To bring two parties together on a deal is more work that what you would think. Good luck GT - Steve

 

[actnow]

As Steve mentioned above. It is alot of work.

I owned a major U.S. sales brokerage firm and a global sales consulting firm which
I sold a couple years ago. And, I have over 25 yrs of brokering experience doing it
for national and global companies in a different industry.

There is nothing wrong with doing it. Just understand that it is not a simple case of
saying "I have USBrokers.org or NameBroker.biz for sale".

Just remember. The only thing you really have to sell is your credibility.

Fortunately, you have people like Steve who you can use as a "model" as the proper
way to conduct yourself.

Incidently, the other secret is alway keep "moving".

GT, good luck on getting your name brokerage biz started.

 

[GT Web]

thanks...

Maybe I am too confident, because I brokered a nice name 1 week into this venture, but I will keep working and looking for honest sellers to represent and trustworthy buyers.

 

[StockDoctor]

GT One question I have is how old are you now? Not trying to give you a hard time or anything, but I would require that my broker be of adult age. I don't know what remedy I would have if the broker I used was underage. Also, you might consider setting up an official US agency. Similar to my first comment, I would need to have some recourse if things went badly, and chasing someone in another country would be impossible. I assume you have some standard contract language for both the buyer and the seller and use a reputable escrow company.
Doc

 

[Steen]

Stoc,I believe in GT's "brokering" threads he stated that he is NOT responsible for the dealings of his contacts, he is just searching for a buyer.

 

[GT Web]

right, thats a good point...

I am actually just finding buyers, which my clients know...

This should keep me clear of any legal problems, in my earlier transaction, I made this clear - once I have found a buyer I am not a part of the transaction.

thanks for bringing it up...

 

[URLCollection]

GT - You would then be called a Buyers Agent, I believe. A Broker, in our case, handles all fees, monies, transfers and all marketing and mediation actions, as necessary. We maintain a Performance Bond and are a D&B rated company, for just such reasons as well as being a contracted partner with Escrow.com. We not only Broker domains, but websites, businesses and alot of trade magazines and publishing companies. There is a big difference between a buyers agent and a broker. A buyers agent recieves a "finders fee" paid by the seller for bringing to the table, potential clients. Make sure you fully disclose your actions, as the failure to do so could be a huge problem if a deal goes south. Act Now has a lifetime of experience in the "brokering industry" and Stoc Doc has a vast amount of background in Mergers and Acquisitions. They may also be able to give you some more insight into your planned new business. Best of luck and just make sure that you FULLY disclose your position in advance of all transactions. Steve

 

[GT Web]

Thank you for that information URLCollection

Yes, I am now a "Buyer's Agent"

:-D