If you missed yesterday’s Hangout discussing GoDaddy’s Domain Buy Service, I have embedded the video below. The video is 40 minutes long, and it’s worth a watch if you are considering using GoDaddy’s buy service to acquire a domain name or if you have been approached by a broker about selling one of your domain names.
If you have any questions for GoDaddy representatives, you are welcome to post them in the comment section here or on the YouTube video page. If you have any recommendations for a future GoDaddy Hangout, I am sure they would appreciate hearing them.
You say you are working on behalf of the buyer, so how are you incentivized to have my best interest in mind and get me a lower price for a domain, when you are being paid a commission of 20% of the final price ?
Good Question. We are hired for the buyer so we work for them to get the best price possible. The incentive for us would be to stay in business. If we made a habit of taking as much money as we could get for a domain from a buyer instead of negotiating for them we wouldn’t be in business that long. Nothing really stays secret, people stop working places, audits happen etc. eventually the truth gets out so it’s much easier to just do the right thing and be honest and remain in business for the long haul. 🙂
A broker works for the buyer or the seller but should never work for both. A broker should work to get the best price for his or her client (lowest for buyer and highest for seller).
Who is your client, the person paying the domain buy service fee or the domain owner paying the commission?
I have about a 30% sales rate when contacted by GoDaddy’s buy service. I think the number would be larger if the buyer didn’t have to pay 20% commission on large numbers.
Do you have a video transcript for users with slow internet because I could not watch the video?