Negotiating a deal to its conclusion is an aspect of this business I enjoy. Negotiations can be exciting, frustrating, annoying, thought provoking, and emotional. Sometimes a negotiation reaches a point that it would be more productive to step away and hand the reigns to someone else.
It doesn’t happen often, but there have been times that a stalemate has been reached. It sort of comes to a point where the counterparty and I have dug our heels in so deeply that progress has stopped and we aren’t really getting anywhere. Taking some time to let things cool down is one approach, but it also gives the counterparty an opportunity to seek out a different domain name or find a different buyer. When this happens on a domain sale negotiation, it makes sense for me to hand the negotiation off to a trusted domain broker.
I don’t love involving a domain broker when it isn’t necessary. I value the effort and expertise of a domain broker, but I would prefer not to have to pay a commission and involve a third party in a private negotiation unless it is absolutely necessary. Sometimes it becomes necessary.
A domain broker may be able to offer a different perspective on the value of a domain name and may have the expertise to be able to change the tone and tenor of the discussion. The broker may also be able to offer other options that hadn’t been considered. The counterparty may be more comfortable negotiating with someone else – or may appreciate that a third party is involved to steer clear of landmines that came up during the initial negotiation.
If a broker can help close a deal where I couldn’t, the commission would be well spent. There are many great brokers in the business. I enjoy operating my own business, and I have become pretty proficient at negotiating (at least I think I have). Knowing when to step away and hand off a negotiation is important and it can help get a deal done.