Recently I have noticed a lot of new entrants into the Domain Name Broker space. I have always been a free market capitalist and welcome competition as it only drives the cream to the top. However, what I don’t like is people with low moral or ethical standards entering my industry and pretending to be reputable domain name brokers which gives the rest of us a bad name. Let me give you one recent example of such a Domain Name Broker “impersonator”… We received an email from a company who wanted to acquire a domain name they have wanted for some time.
They had never worked with a domain name broker before and reached out to many individuals and domain brokers they found on domain blogs and through a simple search for “domain name broker”. We immediately replied back and let the company know how our services work, our guidelines, fees and all the other relevant details one needs to evaluate their options and decide on which domain broker is best for their needs.
However, one of the other individuals they reached out to did not bother to wait for the company to solicit their services and simply went ahead and contacted the domain owner in an attempt to buy the domain ahead of the companies wishes.
There are many reasons they may have done this, none of which are ethical. Anyhow, long story short, this domain name broker interfered in the transaction which we found out after the company selected our services and we also contacted the domain name owner. Now the owner thought he had two buyers interested in his domain name and the price went up! Even worse, after the other domain name broker impersonator realized the company was not going to use his services he took it upon himself to try and sell the domain name on the open market!
Anyways, this type of thing happens all the time, unfortunately, and so when you are in need of a Domain Name Broker to help you buy or sell a premium domain name, make sure you get everything in writing and make sure this same thing doesn’t happen to you!