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Why I’ve Been Using a Lawyer for Escrow

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In the last couple of years, I have been using a lawyer for escrow services more than ever before. Although there tend to be more steps when using a lawyer for escrow, I have found the deal closing process to be more streamlined, often quicker, and the cost is flexibly reasonable.

When I use a lawyer for escrow, I can integrate the purchase agreement with the escrow agreement. Instead of using a purchase agreement that doesn’t totally align with the escrow agreement, having a unified purchase agreement is helpful. This is primarily an issue on a payment plan deal or when special terms are necessary in the purchase agreement. It is easier to get a counterparty to agree to language on an integrated agreement.

Can a Copywriter Provide a Sales Lift?

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When someone inquires about purchasing a domain name, they’ve already indicated the desire to own the asset. I’ve always felt that a good domain name sells itself, and I can’t really convince someone to buy a domain name any more than their desired interest.

I’ve crafted a response to inbound inquiries that vary a bit based on the domain name. For instance, when I reply to prospects who want to buy Flashpoint.com, one of the lines is “Flashpoint.com is a one of a kind asset that is ready to be built into a powerful brand and become a flashpoint for a company’s marketing efforts.”

There is still a significant hurdle between someone expressing interest in a domain name or making a purchase offer and the acquisition of the domain name. Usually, the acquisition cost is that hurdle. Someone expecting to pay $100 for a domain name is blown out of the water when they see a six figure price tag. Those gulfs are almost impossible to bridge.

Prospect is Confused

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Whether you manage your own leads on an inquiry form or you utilize a service like Afternic or Efty, chances are good that you’ve received a message from someone who is confused. The visitor doesn’t understand that they’re visiting a domain name that is for sale, but they’ve filled out the inquiry form like a genuine prospective buyer would.

People often mistype domain names in error. They may be intent on visiting a website and typed in the wrong domain name. They may have clicked a link to or visited a website that no longer exists. They’re not looking to buy the domain name, but they filled out the form because they are looking for something that doesn’t exist.

Video: Starting Small with Rob Schutz

Rob Schutz is a relatively new entrant into the domain brokerage business, but he seems to be finding success acquiring domain names on behalf of clients. For those of you (like me) who don’t know Rob personally, Rob co-founded Ro, which has become a $7b direct to consumer healthcare company. You’ve probably seen their advertising. In addition, Rob worked at a startup called Bark.

Most recently, Rob founded Snagged.com, a domain brokerage firm, which is how I learned about Rob and his background. Rob recently participated in an interview on the Starting Small YouTube channel. If you aren’t familiar with Rob and his background, you can watch this video to learn his story and how he became involved in the domain name space.

Get The Buyer to Pay the Commission

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GoDaddy’s recent launch of Afternic “Boost” has led to growing frustration over the commission fee charged for a successful domain name sale within the Afternic network. There is a way domain sellers can shift the burden for these commission payments from the seller to the buyer.

Tony alluded to this on X:

Video Walkthrough of Saw.com Marketplace Platform

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Jeff Gabriel, Founder of Saw.com, recently announced the launch of the Saw.com domain name brokerage platform. Saw.com has specialized in domain name broker services, and the platform has been expanded to allow third party sellers to use it and its internal sales tools to sell their own domain names.

Andrew Allemann gave a good introduction to the platform, in addition to a recent podcast interview with Jeff. When I tried to have a look at the back-end of the platform to see the features and how it works as a seller, it required that I sign up for a new account.

I asked Jeff if he could create a video to allow people to see how to use the platform.