Domain Broker Service: A Buyer's Roadmap
Congratulations! You've taken the first step in acquiring the perfect domain name. This is a roadmap to guide you through the Domain Broker Service process.
You have purchased the GoDaddy Domain Broker Service. The domain name you want is already registered to another individual, and this service can help you get it. The following is a list of frequently asked questions (FAQ) associated with the Domain Broker Service.
By purchasing the Domain Broker Service, you already started the process to acquire the domain name you want. Here are the next steps:
- Provide a minimum and maximum price range that you are willing to pay for this domain name.
We use the minimum and maximum values you enter to negotiate with the current domain name registrant. Some registrants might want more for their domain name if it has a website attached to it or a business associated with it. Consider this when entering your min/max values. We always try to get the domain name at the lowest possible price, but you need to enter a wide enough range to give us room to negotiate. By default, the min/max values are zero. See Changing the Minimum and Maximum Offer Range for Domain Broker Requests to update your min/max pricing.
- But wait! What fees am I responsible for?
As the buyer, you are responsible to pay for the domain name if we successfully reach an agreement with the current registrant. We add a 20% Buyer Broker fee to the agreed-upon sales price or charge a $15 fee (whatever is greater). If the domain name is not registered with us, you can transfer it to your account with us at the standard transfer fee price listed on our website.
We secure a 2 percent "Good Faith" deposit prior to high-dollar negotiations. If we cannot reach an agreement, we fully refund this deposit.
Note: Escrow.com handles completed sales of $5,000 and more. They might charge additional fees, depending on your selected method of payment.
I have questions about the domain name's current registration and how you attempt to acquire it for me.
Here are some of the most-asked questions on how the Domain Broker Service works:
- Can I use the Domain Broker Service if the domain name I want is not registered with you?
Absolutely! If the domain name you want is not currently registered with us, we can still help you acquire it. Once we reach a final sales price and the funds are secured, you must purchase a domain name transfer from our site, and we assist you in completing the transfer to your account with us.
- What if the domain name has "Privacy"?
Many domain name registrants choose to hide their direct contact information behind privacy companies. Most privacy companies list a valid email address and phone number. While the industry standard is to forward the email or provide a contact form to reach the registrant or administrator, phone contact is initially very difficult. We check other websites and options available to us via the Internet trying to find the current registrant. Despite the limitations privacy poses, agreements are reached with privately listed sellers on a regular basis.
Note: Domains By Proxy® is an independent company that sells private registration services through GoDaddy.com. We treat domains using Domains By Proxy's services the same as any other privacy company.
- What methods do you use to contact a domain name registrant?
When we contact a domain name registrant, we check the Whois database for the registrant and administrative contacts for the domain name. In many cases these are the same person or company. If the contacts are invalid, we submit the domain name to the registrar as an invalid Whois complaint. This notification requires them to contact their customer to update the information. We also use other Internet sources, such as a website, to locate the registrant of the domain name.
- What happens if you determine that the Whois is invalid?
If we find that the Whois information is invalid, we submit a request to the Registrar of the domain name. They contact their customer to request an information update. We also look for other contact information using Internet resources. If the Registrar's customer does not update the contact information and we are unable to locate other contacts, we close your claim.
- What happens if the current domain name registrant does not respond?
We make every reasonable effort to contact the domain name registrant on your behalf. There are times when we do not receive a response from the registrant. We continue to send emails and make phone calls to any publicly-available contact information for the domain name throughout the 30-day Domain Broker Service term. If no response is received within the 30 days, we close your claim.
- How often do you contact the domain name registrant?
We make a concerted effort to contact the domain name registrant on your behalf. We use any available publicly-listed information. Since the buy offer is unsolicited, we limit the frequency of contact to avoid accusations of spamming or harassment. We typically contact the person weekly. If they choose to negotiate by answering the emails or phone calls, we can contact them more often.
- Who is the domain name registrant?
We do not divulge information to our clients about the seller or their business plans just as we do not divulge information to the seller about our clients. You can review the domain name Whois information for the contacts of record listed for the domain name.
Once you're all set in your Domain Buy account and we've identified and contacted the domain name registrant, what's next? Here are some questions that may arise during this portion of the negotiations:
- I have been informed the registrant has reviewed an offer, why haven't I heard a final sales price?
Your Domain Broker Service Agent will use their experience, skill set, and industry knowledge to negotiate the best deal possible for you. In some cases, negotiations can carry on for days, sometimes even weeks before an agreement is reached.
- If there is a 20% Buyer Broker fee, how do I know GoDaddy has my best interest in mind?
This service is dedicated to giving you, the buyer, the best buying experience in the industry and is focused on getting you the name you want at the best price possible. The 20% Buyer Broker fee largely covers the expense of the transaction itself apart from the seller's agreed price. Our agents receive no incentive based on the final sales price.
- Why is the seller asking for more than seems reasonable?
The seller may have a website attached to the domain name or a business associated with it. Many times, sellers have personal attachments to their domain name. In the end, the registrant of the domain name decides whether or not to sell and the price.
Once we strike a deal, here are popular questions about paying for, registering, and controlling the domain name:
- How do I submit payment for the domain name?
Once you and the seller agree on a price, there are two different payment processes depending on the price.
- For deals $4,999.99 and less, you can make payment in your GoDaddy account using a credit card, PayPal®, Good As Gold, or gift card.
- For deals $5,000 and more, we generate a fulfillment order in your GoDaddy account. We send your information to Escrow.com, and then you make payment its site. You can view Escrow.com's payment options here.
- How do I work with Escrow.com?
After you complete final acceptance of the negotiated price, we process domain names sold for $5,000 or more through a third-party escrow service. Both you and the seller receive notification at the email address associated with your account with us to register at Escrow.com.
You submit payment to Escrow.com and they hold the funds in a non-interest bearing account. After Escrow.com verifies the funds, you and the seller are notified and you begin the process of moving the domain name. When you receive and accept the domain name, you notify Escrow.com and they release the funds to pay the seller.
During this process, you might receive emails from Domain Broker Service, Support, Transfers, Escrow.com, or the seller.
- How do I register the domain name once I purchased it?
After completing negotiations and payment for the domain name, we assist you with getting the domain name into your account with us.
- If the domain name is registered with us, we move it into your account. See Accept a domain name account change for instructions on accepting it into your account.
- If the domain name is registered through another registrar, you must transfer it by purchasing and completing a domain name transfer, which places the domain name in your account with us. Purchase the transfer here, and then see Transfer my domain to GoDaddy for information on completing the transfer.
- Once I've registered the new domain name, can I immediately transfer it to a different registrar?
After the deal is complete and the domain name is active in your account, you must wait 60 days before transferring it to another registrar. This is an ICANN (Internet Corporation for Assigned Names and Numbers) approved policy that limits domain name transfers to once each 60 days.