Braden Pollock Shares Domain Buying Tips

I believe buying a domain name for a good price is likely the most difficult aspect of this business. Domain owners can be difficult to reach, and if you make the extra effort that others haven’t made, and you make a reasonable offer, you will probably have a higher close rate. In addition, companies that are successful in getting their ideal domain name may not have to settle on a different brand and may help prevent confusion for their customers.

Braden Pollock shared some good advice about buying domain names in today’s GoDaddy Hangout with Joe Styler and Colby Villa. He offered some advice on contacting domain owners, making offers that are fair, and getting a good price on domain names that aren’t listed for sale anywhere. The advice Braden shared can be helpful for people looking to buy domain names as investments, but particularly for people who want to buy a domain name for their business or for a startup.

If you have any questions you want to ask Braden or the team from GoDaddy, you are welcome to post them in the comment section here, or on the GoDaddy Google+ Hangout page.

Tip: Email the Old Whois Email Address

I have been looking into buying a domain name, and I opened a discussion with the owner via the current Whois email address. One thing I noticed is that a year or two ago, the email address changed while the other Whois information remained the same. On very rare occasions, this can be indicative of a domain theft where a thief controls the new email address unbeknownst to the real owner.

One way that I like to do due diligence is to send an email to the old email address found via DomainTools Historical Whois search. Typically, I will send a short email to the old email address confirming that the current email address is accurate and that the rightful domain owner is aware of the email discussion.

If I don’t receive a reply confirming this, I would

Counterparty Needs to Have Authority

I have bought and sold quite a few domain names to larger companies with multiple levels of decision makers. In these dealings, I have negotiated with a variety of individuals at different positions within the companies. One thing that should be discussed is whether the other party has the authority to negotiate terms and agree to a deal.

I have discussed deals with everyone from marketing managers to lawyers to executives. Generally speaking, I assume that the other party is authorized to discuss a deal because they either contacted me to discuss a domain name or they were the point of contact for me. As a negotiation gets going a bit, you should think about asking the other party if they have the authority to do a deal with you.

The primary reason for learning this information is that you don’t want to reach a deal with the other party only to learn that someone else has the power to cancel the deal. It can be a major time waste if you negotiate a price and terms only to learn that there are other people that need to get involved before the deal can be finalized. It is pretty

Don’t Tell Me You Have a Small Budget

“I am interested in buying your domain name but have a small budget”

One of my big pet peeves when dealing with a prospective buyer is when they open an inquiry by telling me they have a small budget. I understand that they are at least trying to set my expectations at a low level, but I find this quite annoying and sometimes won’t even reply when this is one of the first things mentioned.

I have read various articles advising domain buyers to tell domain owners that they are students, working for a non-profit, looking to start a small business…etc. in an effort to get a better price. When I receive an inquiry with that type of language, I almost immediately write it off.

I understand that

“Trump” on Trending Registrations List

I always like reading about the trending domain registration keywords  when Verisign shares its monthly report. This afternoon, Verisign shared the .com and .net keyword trends for July, and there was a pretty big surprise on the list. “Trump” was listed at #5 for .com domain names.

Using Verisign’s Keyword trend tool, it looks like 1,369 domain names with the keyword “trump,” were registered during the month of July.  I am quite sure the reason Trump was in the top 10 list is because of Donald Trump’s Presidential campaign.

Some of the domain names that were registered in July include the following:

Paul Graham Shares Excellent Domain Name Advice

Paul Graham is one of the most respected people in the startup community, and he frequently shares advice on his personal website, PaulGraham.com. In an article he just published, Change Your Name, Paul discusses the importance of domain names. More precisely, he wrote about the importance of startups owning .com domain names.

The opening sentence of the article says it all: “If you have a US startup called X and you don’t have x.com, you should probably change your name.” The basic reason for this can be found in the next paragraph: “The problem with not having the .com of your name is that it signals weakness.”

There is quite a bit of good advice shared in the article, and I will