Home Advice Page 4

Advice

Consider Removing “WHOIS” from Domain Name Contracts

0

I use several different domain name purchase or sale agreements depending on the situation. Each of these agreements references “WHOIS” as a means of confirming ownership of a domain name before or after a sale.

With the sunsetting of WHOIS in favor of the new RDAP, it might make sense for domain investors, brokers, and escrow agents to update their contracts. This was the advice of IP attorney John Berryhill, who works extensively within the domain name industry:

He subsequently some of the larger companies in the space adjust their purchase agreements:

As WHOIS records become obsolete and no longer a requirement for domain registrars, referencing WHOIS in a purchase agreement as a means of confirming ownership will be outdated. It may also “open up a can of worms,” as John put in his post.

I hadn’t thought about this until seeing John’s post, but I am going to send my purchase agreements to John for modification. I also think it’s a good idea to have him (or other attorney) give these agreements a once-over every once in a while to ensure they remain protective of my company and align with its needs.

I Appreciate Having a Broker as a Counterparty

12

I appreciate being able to discuss the sale of a domain name with a domain broker representing a third party. Not only does this give me some insight into who the prospective buyer is, but it also reduces some of the friction in a negotiation.

The best part of working with a broker as a counterparty to a negotiation is the buyer has already been educated. A broker isn’t going to take on a buyer with unrealistic price expectations. The buyer is essentially prequalified to discuss a deal. The buyer may not have the full budget, but there will be much less tire kicking.

Managing Your Own Landers Can be Difficult

9

One of my favorite aspects of the business of domain investing is negotiating my own deals with prospective buyers. In order to generate some of my inbound leads, I operate a variety of my own landing pages and inquiry forms, supplemented by Efty landing pages.

There is a downside to operating my own landing pages and inquiry forms. I am fully responsible for all technical aspects of the landing pages – from their design to their resolution and functionality. This is something I do with the help of a developer, but a great deal of the management is on me.

Diligence Tip: Remove the Domain Name from Email

I do diligence on a prospective buyer because I like to know who is on the other end of an inquiry/offer email. In general, most people will reply with their full name and email address. Some people may reply with a fictitious name or nickname to try and retain some level of anonymity. For the most part, prospects don’t completely obfuscate who they are.

For my inquiry forms, the only mandatory fields are name and email address. A person may use a fake name or nickname to shield their identity, but most won’t use a unique email address nor do they take the time to create one for the purpose of inquiring about a domain name.

Most Important Elements to a BIN Landing Page for Domain Sales

7

I’ve been asked to look at numerous domain name sales landing pages lately. I will generally be happy to take a look if I have the time, but I thought I would share what I think are the most important elements to a BIN landing page for domain name sales.

1) Domain name quality
2) BIN price
3) Ability to easily transact securely
and/or 4) Ability to contact seller

Inferences from Inquiry Discussions

1

A number of years ago, I tried to buy a one word .com domain name from its original registrant. I did some diligence on the owner, and I learned he founded a well-known brand that was acquired by the second largest company in its field. He became a philanthropist, and money did not seem to be much of a factor for him.

While I increased my offer to buy the domain name over the years, we didn’t reach a deal. In fact, I don’t think he ever even provided a counteroffer to me. After several attempts over 5 years, I stopped inquiring about that domain name.

One thing I had noticed over the course of several email exchanges was his email address. The domain name he used for email was also exceptional, although he did not have a website. I believe it was the name of his new business or holding company that wasn’t consumer facing.

Recent Posts

Namecheap Asks When Auctions Should End

1
When I visited a Namecheap auction this morning, I noticed an informational header indicating that Namecheap may change the time of day its auctions...

You Can “Fail” 95% of the Time and Still Crush It

5
It is said that in Major League Baseball, a player can fail 70% of the time at the plate and still make the Hall...

Enable Immediate Payment for Inventory Domain Names

1
When I was operating my directory websites, a business friend of mine gave me some good advice that applies directly to domain name sales....

GoDaddy Auctions Masterclass on December 11

1
Ready to dominate GoDaddy Auctions? Join industry vets @JJStyler & Bart Mozyrko for a live masterclass on advanced bid strategies, auction secrets, and pro...

Atom.com Shares Priority Placement for Searches

1
Atom.com recently announced "one of the biggest updates to search and discovery" on the platform. The platform is making its search results less literal...