It Can Hurt To Try Part I
Why to Choose your Broker Wisely when Selling Premium Domains
When selecting a broker to sell your premium domain names, choose wisely. The old adage, “It can’t hurt to try,” simply isn’t applicable. In fact, just the opposite is true: selecting a pricepoint or a broker that damages sales opportunities means it’s your bottom line that gets hurt. The idea that it can’t hurt to try presumes that one broker won’t contact the same buyers as another broker. Or, it presumes that when a broker circles back with a different figure, the party acquiring the domain won’t see the value as diminished. Selecting a Premium Domain Name Broker: Premium domain brokerage is essentially free, right? After all, if a domain is not sold, then no money changes hands.
FALSE. The market value of your premium domain name can be lost if relationships or value perception with potential buyers is damaged. Choose the right broker your first time around. What happens if a domain is shopped around with one broker, and then you upgrade to a better broker? There are only two options:
- The new broker reaches out to new people.
- The new broker circles back with the same potential buyers.
Let’s examine this. If a second broker reaches out to new contacts, it’s true, there’s no harm no foul. But if the first broker reached out to good contacts the first time around, then the second broker instantly has an uphill battle:
- Sense of Spam: Will the buyer even realize he’s being solicited by someone new, or will he just be irritated to be hearing from someone again? It’s harder to build blind.
- Reactionary Negativity: Will the first broker’s previous communications make the buyer immediately uninterested in discussions with the new broker?
- Hold-back-Hassle: The number two challenge* in selling premium domain names to end users is overcoming the idea that it will be difficult and time-consuming to acquire the domain. This misconception can be reinforced when a potential buyer senses difficulties with the seller such as relationship management from changing brokers.
A broker’s best assets are his reputation for closing sales and building relationships.
Certainly, you need a broker who believes in the value of your domain. But an experienced, successful broker knows what the market will actually pay for a premium domain. With that understanding, find a broker who respects your domain’s value and can put money where his mouth is. *For the number one challenge brokers face when selling premium domains to end users, see It Can Hurt To Try Part II: Work Closely with your Broker to Choose your Price Wisely when Selling Premium Domains