HARO Publicity Can Help Your Website

Elliot Silver
-
5

If you operate a website and have become an expert in a particular field, you should consider signing up for the HARO email newsletters. HARO, which stands for “Help A Reporter Out,” is a daily newsletter that lists interview and comment requests from reporters and publications that cover just about every industry and field.

HARO helps reporters connect with experts in their field to help them with articles they are writing. Obviously, if a reporter uses an expert as a source, it can help establish the source as an authority in the field, and it can potentially drive traffic to the source’s website and business.

Here’s a brief synopsis of how the process works using domain investing expertise as an example:

Read More

Explain “Replacement Cost” in a Negotiation

Elliot Silver
-
12

Getting to the right price in a domain name sale negotiation is often difficult. The buyer doesn’t want to pay more than a certain amount to buy the domain name, and the seller is often asking more than the buyer is willing to spend for it. Convincing someone why a domain name is worth the asking price can be a challenge, but a domain seller might want to mention the replacement cost as rationale for the price.

To me, the replacement cost for a domain name is the amount of money I would need to spend in order to buy an equal or better domain name if I would sell one of my assets. If I sell a domain name for $10k and it costs me $15k to buy an equivalent domain name, I am losing out because I am lowering the value of my portfolio while not generating enough income  to improve it. For someone like me, it doesn’t make sense to sell one of my domain names for less than the replacement cost of an equal or better domain name.

I think the majority of  domain buyers

Read More

Working With Domain Brokers

Eric Borgos
-
5

Elliot’s blog posting yesterday about conflicts of interest with domain brokers reminded me of what happened when I sold my Bored.com network of sites in 2008 for $4.5 million.

I was not really looking to sell Bored.com, but a broker approached me and asked if he could shop it around (like to Google, Yahoo, etc.). I had never heard of this broker (I don’t think he is still around) but since I was not actively looking to sell the site I figured it couldn’t hurt. After around 6 months he did not generate any offers so I sent out some emails on my own, since I had not given him an exclusive listing.

A few months later one of my potential buyers made me an offer. At the same exact time the broker also found a buyer. Both started in the

Read More

Domain Industry Connections Are Valuable

Elliot Silver
-
1

Yesterday, I wrote an article advising people that they should ensure there aren’t any conflicts of interest when choosing to work with a domain broker or consultant. Adam made a very good point in a comment, and I want to discuss it further. In the comment, Adam wrote, “someone seeking advice should likely look for an expert and that expert should be well connected.”

One of the greatest value adds of a domain broker or a consultant is his knowledge of the domain space. There are many general business consultants and even IP lawyers without (much) domain industry experience who may offer advice related to domain names. Although there is probably some  value from these outsiders, it is beneficial to work with someone who has experience navigating the world of domain investors.

Most connected domain consultants and domain brokers will be able to give advice on how to negotiate with certain buyers and what types of offers can be intriguing. They know that a portfolio

Read More

Beware of Conflicts of Interest With Consultants & Brokers

Elliot Silver
-
3

I am neither a domain consultant nor a domain broker, but I receive quite a few requests from people to help them with their domain investment decisions and businesses. One such request came last week, and when the domain name intrigued me, I saw that I knew the owner of the domain name.

Despite the fact that I would not help the person who inquired, it got me thinking about a potential conflict of interest. If I were to have agreed to consult on behalf of the person who inquired, it could have caused a potential conflict of interest because of my association with the domain owner. This is something people who use domain consultants and domain brokers need to consider before signing a letter of engagement.

The domain name industry is somewhat of a

Read More

Communicate With Your Domain Broker

Elliot Silver
-
7

I’ve worked with a variety of domain brokers on outbound and inbound domain sales, and I have experienced different levels of communication with these domain brokers and brokerages. I think the domain owner should let the domain broker know how much communication is desired since different brokers tend to have different communication preferences.

When I have engaged a domain broker for an inbound purchase inquiry, especially for a domain name that receives quite a bit of regular interest, I appreciate it when my domain broker follows up with me regularly. I like to know what the buyer is thinking and where the buyer is at in terms of interest or taking action. Even if there is no chance of a deal (ie buyer willing to pay $10k but my price is $100k), I want to be updated with the status. Perhaps I can offer more flexibility in pricing or terms, and knowing what the buyer is thinking is helpful. It’s also helpful to know a status when holding negotiations with more than one party.

When I have engaged a domain broker for outbound sales, I

Read More
1...646566...213Page 65 of 213