What Is The Godaddy Buy Service Fee
The Domain Buy Service can be beneficial for the right buyers in the right situation, but there are fees. You dont get an entire team advocating on your behalf to attempt to locate a domain owner, contact them, and broker a deal for free.
So what are the fees associated with GoDaddys Buy Service?
- $99.99 just to purchase the domain buy service
- 20% commission of the final sale price
You tell them ahead of time the most youre willing to spend on a domain, and they work to negotiate the best price for you at or below that purchase price. The commission comes from the final sales price.
Example:
Suppose you are willing to pay up to $20,000 for a domain name that someone else owns, and you hire the GoDaddy Buy Service to see if they can make the purchase happen for you.
Negotiations happen and it turns out they acquired the domain for you for $10,000.
The final price you pay would be $12,099.99
- $10,000 for the domain name purchase
- $2,000 for the 20% commission
- $99.99 for the initial service fee
Thats how the fees come together when using this domain acquisition service.
Theyll Complete The Paperwork For You
Once a domain broker has closed the deal, the matter of transferring the domain and securing payment is next. Many people have no experience working with escrow and other modern payment solutions. As such, working with a broker adds a certain level of error-proofing and convenience. Theyll be highly experienced concerning the paperwork of domain purchases, which saves you time and sidesteps potential scams.
Making Sense Of The Godaddy Domain Broker Service Status Page
In the domain name management control panel at GoDaddy, theres a Buy & Sell drop down menu. Within that menu, there is a Domain Broker Service link that takes customers to a status page with all of the Domain Broker Service inquiries received on their domain names.
These inquiries are from GoDaddys Domain Broker Service, a premium upsell that costs customers $99.99 plus a 20% commission on a completed sale. When a GoDaddy customer engages the Domain Broker Service for a GoDaddy-registered domain name, the inquiry is listed within this section of the domain registrants GoDaddy account.
I first learned about this page after seeing a post about it on Twitter:
Stumbled upon Domain Broker Service status page in my control panel. Lists many failed negotiation and few successful ones. Trying to find out the reason of failed negotiation.
dotcorner
On my Domain Broker Service page, I saw a list of inquiries for domain names I own with different status updates. The four types of status update I see are: Negotiations failed, Call domain broker, Payout Complete, and Unable to reach buyer.
I recognized some of the inquiries because a GoDaddy broker had reached out to me and I recalled the name of the broker and the particular domain name they discussed with me. There were other inquiries that I had heard nothing about until I saw the status page and I was curious to understand why I never received an inquiry or offer for those Domain Broker Service engagements.
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They Help You Manage Bigger Domain Sales
Two of the biggest mistakes I see people make all the time is:
- Undervaluing a domain they are selling
- Overvaluing a domain they are buying
Both of these mistakes will leave you broke and frustrated.
If you are buying and selling domains for prices higher than $10,000, do yourself a favour and hire a broker you can trust.
They will ensure that you dont make a rookie mistake and get the value out of the domain you deserve.
The bottom line is this:
The right domain brokers do all of the heavy lifting so you dont have to.
Do You Really Need A Domain Broker
So why do you really need a broker?
Quick answer: They help you get the best deal possible.
In the end, domain brokers end up paying for themselves.
Yes, you could go it alone and try it yourself, but a domain broker will almost always be able to get you a better deal. If you are domain flipping this is even more important.
Here are three reasons I always recommend a domain broker.
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Brannans The Best For Selling Premium Domains
Brannans is a domain broker that specializes in helping businesses buy and sell premium domains. Premium domains can be identified by being easy to remember, typically only one or two words long, and being followed by .com rather than, say, .us or .biz. Premium domains have higher visibility and brand clarity, which makes them highly sought-after.
Brannans has delivered more than 10,000 premium domains and will help you obtain one even if its currently not for sale. Brannans brokers have an outcome success rate of over 95%. As of this writing, some examples of premium domains in Brannans arsenal are Meme.com, Bulldogs.com, and Batteries.com.
Sellers have two options when they are ready to list their domain. Their first option is to create a wholesale offer and receive payment between three hours and three business days. Their second option is to sell at a retail price thats typically achieved within one to six months.
Its important to note that if you want to sell, your domain must end in .com and have an estimated retail value of at least $25,000. Brannans price includes a $49.95 fee per domain and a 15% commission. This is a moderate price to pay for a domain broker service.
Get great value from your domain broker by getting started with Brannans today.
Mediaoptions The Best For Domains Over $75000
If you are going after that perfect domain namemaybe its an exact match to your business name or a major keyword in your industryits not going to be cheap.
And its going to be ludicrously expensive if you dont have a seasoned negotiator in your corner.
When you dont have flexibilityyou need that domainits time to call up MediaOptions and get help from the most successful company in the business.
It was founded by Andrew Rosener, who has been the top domain broker in the world for the last three years according to Escrow.com. Hes the creator of the Rosener Equation, which people use to value domains, and has testified in court as an expert witness on domains.
Roseners knowledge of the space is a big part of MediaOptions continued success. The company has brokered hundreds of millions of dollars in domain deals over more than a decade in business.
I highly recommend this broker for businesses that need a prime piece of web real estate. MediaOptions has a lot of experience with stealth acquisitions as well as a track record of locating domain owners that dont want to be found.
Essentially, MediaOptions has mastered every step of the domain acquisition process that trips people up. You wont spin your tires trying to track down and convince a domain owner who doesnt want to sell. The expert broker knows how to get the best outcome in that touchy conversation.
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The Top Domain Brokers Summary
The two best domain brokers are Namecheap and GoDaddy. If you have highly specific needs, you can consider some of the other top picks on our list, like Grit Brokerage, MediaOptions, and Domain Holdings.
There are plenty of domain broker services floating around online. But its worth paying closer attention to the best ones to determine which one works for you and your specific domain goals.
Should I Use A Godaddy Domain Name Broker
While GoDaddy is an extremely well-known domain registrar and a fine one overall, you should avoid their brokerage services. When you use GoDaddy as a domain name broker, you have to pay hefty fees up-front for an inferior service.
Instead of the transparency of working directly with your own agent at a brokerage, youre effectively running blind and waiting to see what happens. Working with an impersonal broker such as GoDaddys brokerage service often boils down to paying their fee, waiting 30 days, and receiving a notification that they failed.
GoDaddy is one of the better choices of registrars. That said, always choose a dedicated premium domain broker when it comes to your brokerage needs. Their business model is contingent on succeeding for you, which means that your interests and theirs are the same. As it happens, VPN.com offers a time-tested and proven premium domain brokerage service.
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Upfront Costs And Commissions
Domain brokers all charge for their service a little differently. Its important to understand exactly how this works. You may wind up paying fees even if you dont get the domain you want.
Some brokers charge an upfront fee to get started and then take a commission based on a percentage of the sale.
Keep a close eye on this percentage, as premium domains are often five and six figures. Commissions will add a significant extra expense to the price of a domain, or cut into the profits of one you sell through a broker.
Even if you choose to be your own broker on Domain.com, theres still a commission for using the platform to execute your trade.
Youll find that some brokers work only on commission. Theres no upfront fee. These firms only see money if they get you what you want at a price youre willing to pay.
If your budget is not that high, the commission-only brokers may not take you on as a client. They are not massive companies and cant afford to spend their time negotiating deals with a small commission.
On the other hand, GoDaddy charges an upfront fee but its brokers will go after whatever you want. Just point and shoot.
A 10-20% commission fee is within the standard range. I know its going to be a chunk of change, but it can be totally worth it.
At the end of the day, using a domain broker is a strategy, not a turnkey solution. You have to understand the pricing structure in order to pick an appropriate broker and avoid surprises down the line.
Why Do People Use Domain Brokers
The world of internet domains is a complicated one with its own unique norms and challenges. Compared to more established and traditional industries, it can be remarkably informal and personality-driven at times. These and other unusual characteristics of domain brokerage mean that professionals from other industries will be at an innate disadvantage.
When people ask, Should I use a domain broker?, the answer is an emphatic yes. There are many reasons that the services of a domain broker are well worth the cost.
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Godaddy The Best For Most
When attempting to purchase a domain, it can sometimes be difficult to contact a potential seller and get his or her attention. If you try to do this individually or with a service provider no one has heard of, you run the risk of being ignored.
GoDaddy is a well-known brand with social proof and credibility. If a potential seller sees that GoDaddy is attempting to contact them, they are more likely to take notice. When buyers use this service to contact a seller, their identities are kept private.
GoDaddys process starts with buyers entering the domain name they want. Next, they will receive an email asking about their budget range. The broker will then ask the current domain owner if he or she would like to sell.
If so, the broker will negotiate to find the best price possible. If the current owner tells the broker he or she doesnt want to sell, or 30 days pass without the broker successfully contacting the owner, the buyers claim ends.
One drawback of GoDaddys domain broker service is that its somewhat expensive. Buyers must pay $125.08 upfront and commission fees are 20% per sale. If your domain isnt sold, youre still out of pocket for the initial charge.
When youre searching for a domain these days, its common to have to settle for less than youd hoped. Much of the prime real estate has already been snapped up and .com TLDs are scarce.
But what if you dont want to settle? Thats where Grit Brokerage comes in.
Why Should I Use Domain Broker Service To Sell A Domain
Coordinating and negotiating the sale of a domain can be a tedious and time consuming process. Domain Broker Service lets you sit back and relax while your broker agent does all the heavy lifting.
- Get paid quickly and securely. Our process ensures you’ll get your money faster and more securely, rather than working with a buyer directly.
- We protect your privacy. You’ll stay anonymous throughout the process. The domain buyer will never know your identity.
- We network for you. Transferring domains with someone you’ve never met can be intimidating. With GoDaddy you can trust us as the largest domain registrar in the world.
- Our name gets attention. Domain buyers are more likely to engage with a domain owner through GoDaddy, rather than approach a seller directly.
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How Do You Contact The Current Domain Owner
After you provide a budget range, we check the Registrant and Administrative contacts listed for that domain name in the WHOIS directory. More often than not, the registrant or administrative contact either owns the domain name or knows who does. Your domain broker will reach out to the owner by email or phone.
If the contact information associated with the domain doesn’t lead us to the owner, your domain broker will only use publicly listed information to contact the him or her on your behalf.
Why Should I Use Domain Broker Service To Buy A Domain
Coordinating and negotiating the sale of a domain can be a tedious and time consuming process. Domain Broker Service lets you sit back and relax while your broker agent does all the heavy lifting.
- We protect your privacy. You’ll stay anonymous throughout the process. The domain owner will never know the buyer’s identity.
- We network for you. As the world leader in domains, no one is better at finding out who owns a domain and how to reach them.
- Our name gets attention. Domain owners are more likely to engage with a request from GoDaddy than from individual buyers.
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Sedo The Best For Global Domains
Sedo is the global market leader in domain exchanges. It currently has 19 million domain offerings, 4 million parked domains, and 3,500 domain sales each month. It has been in business for almost 20 years and was built to help people buy, sell, and park their domains.
For people who want to exchange domains with a global audience, Sedo is the right broker. Its customer base is over 2 million people in over 150 countries. Its main employee base is in the U.S. and Germany with partnerships all over the world. Sedo handles every second global domain transaction and has made over 700,000 domain sales.
If you dont speak the language of a seller, theres no need to worry. Sedos employees collectively speak over 25 languages, and they will negotiate a deal for you. Sedo has safe transactions that can be made via bank transfer, credit card, or PayPal.
Fair warning, Sedos pricing structure is on the complex side. While some features are inexpensive, other services have fees that start to add up. Its important to determine exactly what you need before purchasing from Sedo.
Registering with Sedo, transferring domains, parking domains, and buying domains are all free. When purchasing a domain with an express payment option that allows same-day transfer, a 3% fee is added. This is waived for transactions below $500.
Learn more about using Sedo by heading to their website.