I don’t think it happens frequently, but it’s nice to see domain brokers working together to get deals closed. I wrote about an example of this a little over a week ago when I reported about the QE.com sale, which was co-brokered by Media Options and eNaming.com. Heritage Auctions and Right of the Dot are also working together to auction the .Versicherung extension.
Many of the top domain brokers and domain brokerages have loyal clients who look to them when they are buying or selling a domain name. Much like people have favorite real estate agents, domain owners and domain buyers often establish a relationship with a domain broker, and that broker receives their business.
The domain aftermarket is quite fractured. There are brokers, auction houses, marketplaces, individual sellers, corporate portfolio owners, and various other avenues to sell domain names. Many brokerages and marketplaces take on domain listing exclusives, and as such, they are responsible for the sale of the domain names.
On the buy side, companies and individuals who work with domain brokers rely on their broker to meet their needs. Sometimes the broker or brokerage has exclusive inventory to offer, sometimes they can offer purchase assistance to help acquire a domain name privately, and occasionally, they know another brokerage or broker that has the perfect domain name for their client on an exclusive agreement. Instead of waiting out the agreement or trying to get the domain owner to sell the domain name outside of the agreement, there are some brokers who are happy to work with other brokers to get a deal done. This can be good for both clients.
In the real estate world, it is fairly uncommon for one real estate agent to represent both sides of a transaction. In the domain name business, it is far less common for two domain brokers to work together to get a deal done. I think it is good to see brokers working together on behalf of their clients.
Domain name brokers working together happens more than you might think, Elliot, although a lot of the deals might not be public. It’s a pretty small industry and even if some domain brokers or brokerages are technically competitors they still will and do collaborate to get deals done. A lot of the time no money exchanges hands; it’s just one broker helping another broker out as a professional favor, or referring business, or making a crucial introduction. I’m lucky to work in an industry with such great people.
I agree 😉
I have never had a negative experience working with another domain broker.