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Improve Your Offer – Don’t Blame the Broker

Elliot Silver
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5

There are multiple platforms and brokerages that represent buyers seeking to acquire domain names. Two of those with the widest profile due to their partnerships or market position are GoDaddy and Domain Agents. Both of these platforms offer broker services in exchange for a fee plus a commission on a successful deal.

I have seen quite a few few posts, comments, and articles discussing experiences using these two platforms. One thing that has caught my attention is the blame placed on their brokers when offers aren’t accepted or responses to offers aren’t given. Yes, this can be frustrating as a buyer, but no, the broker is not at fault.

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Highlights from Escrow.com Q3 2023 Domain Investment Index

Elliot Silver
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3

This morning, Escrow.com released its quarterly Domain Investment Index for the Third Quarter of 2023. This report offers a broad overview of the domain name aftermarket with data from transactions closed via Escrow.com. The entire (free) report can be accessed via this Google Drive link shared with me by Escrow.com.

A few of the datapoints highlighted in the report that I found interesting were:

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Where Are You in the Decision Making Process?

Elliot Silver
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7

Something I find quite frustrating in a negotiation is when I learn the buyer is not ready to purchase the domain name. It is incredibly annoying to spend time exchanging emails, texts, or WhatsApps to come to terms on a deal, and learn there is someone else or another group that has to approve the purchase.

One question I need to start asking at the beginning of a domain name discussion is “where are you in the decision making process?” Getting this information can mean the difference between offering a nice price to get a deal closed right away vs. sticking to the asking price regardless of current conditions.

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My Nomination for the 2024 Lonnie Borck Memorial Award

Elliot Silver
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5

The Internet Commerce Association shared its list of nominees for the 2024 Lonnie Borck Memorial Award. I was nominated (by Francois), and I appreciate him for thinking of me. I also nominated someone for the award, and I thought I would share who I nominated and why.

Many years ago, I shared the story about how I met Lonnie Borck. In short, I met Lonnie as we were both exiting the restroom at the 2007 TRAFFIC conference in New York City. Since that chance meeting, my friendship with Lonnie grew. From that point on and for many years, we spoke on the phone and exchanged emails many times a week, and we occasionally got together until his untimely passing in 2016. That still hurts.

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Andrew Miller and Larry Fischer to Do AMA Live

Elliot Silver
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0

Hilco Digital’s Andrew Miller announced that he will be doing an Ask Me Anything (AMA) livestream with domain industry veteran Larry Fischer today at noon (Eastern). The announcement was made on Hilco Digital’s Twitter page, and a corrected link was shared in a subsequent tweet:

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$300k .AI Domain Name Flipped for $1.5m

Elliot Silver
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15

The BBC published an article discussing the rising sale prices of select .AI domain names. In 2023 alone, NameBio has archived nearly $5 million worth of publicly reported .AI domain name sales, which is a substantial increase over the prior years which have hovered in the $1m/year range.

Within the last year, there has been a massive increase in venture funding for AI-related startups and businesses, and many are choosing to use .AI domain names for their ventures. This has buoyed the market, leading to increasing asking prices and sales.

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