Website sales brokers get the sellers and buyers of the websites together on a common platform, fix the deals and take a fixed or percentage based commission on sales. Website sales brokers should be motivated and driven enough to learn about the market, keep themselves updated with current web technologies and capable enough to check the facts about the websites being offered for sale. As majority of the website sales brokers work for commission on the transaction amount, they will not be compensated if the deal finally does not go through.
A website sales broker will be able to provide the buyers with a list of websites that are for sale. Most of the sites offered by the broker might not be available through any other channels. The brokers can narrow down the list of websites and create a shortlisted websites list based on the buyer’s requirements and criteria. Generally website sales brokers prefer to work with knowledgeable buyers as dealing with novices would mean extra effort and time in educating them and making them understand the intricacies of the business.
A major draw back in the profession of a website sales broker is that majority of the buyers, who approach them for the websites do not close the deal with the help of the brokers. Instead they may directly deal with the website sellers without informing to the website sales broker. Even if the website sales broker assists the buyer in the first instance, there is no guarantee that the buyer will route future deals through the broker, as there is a possibility that the buyer may directly negotiate with website sellers.
Website sales brokers generally begin the process by collecting the information of the websites offered for sale, approaching the website sellers and personally creating confidence in them. Website sales brokers are expected to check the legal complications involved in the domain or websites offered for sale. They should thoroughly understand all the terms and conditions of the seller and then prepare a list of genuine sellers to be dealt with in future. Later the website sales brokers will advertise about their services through various media and attract the potential buyers. Potential buyers will have the choice of selecting the most suitable website for their business needs. Once the buyer is satisfied with all the available features and title of the website, the website sales brokers can close the deal with the consensus of both the parties and get paid for the completed deals.
As more number of website sales brokers are emerging in the market, stiff competition threatens the newcomers or traditional website sales brokers. In many cases buyers do not entertain website sales brokers who do not call back or respond to the query within a few hours. Some of the online sales sites also offer similar kind of services that are offered by website sales brokers. This is a potential threat to website sales brokers as automation is always believed to be far ahead of and faster than manual processes.
The concept of domain (ing) is now shaping today’s information distribution and business industry riding on the introduction of many technological advancements on the internet. There has been a big leap from the past couple of years where the net was just seen as a tool for doing business in terms of managing employees, advertising, selling, buying and other facets of commerce.
Now, domaining is becoming an industry by itself. It is the act of monetizing in terms of selling and buying of registered domain names. Normally, the domain names engaged in this type of business are the names which are generic or are marketable in nature as well as those names that have been forgotten or unused but are still getting traffic from search engines. Some of the popular ones are .com, .org, .gov or .biz and other types which are popular by nature. “Domainers” is the term used for those people who buy, sell, or engage in any monetizing activity concerning domain names.
There have been a number of developments and improvements and some controversies as well, some more notable than others in this field. The domain tasting “5 day grace period” allowance given by the ICANN (Internet Corporation For Assigned Names and Numbers) is definitely worth a mention. This involves the testing of a domain name’s marketability and is usually done by the registrant or any individual before buying it finally. The problem that arises here is that thousands are temporarily registered but only a few are given full operating licenses. The no “security” period has created issues for many businesses and there is no guarantee that a license could be issued. There is also the kiting controversy where the practitioners abused the “5 day grace period” by deleting a domain name and re-registering it for another thereby eluding payment for the service. The kiting controversy was almost considered as illegal by many.
Just last year there was a “landrush” on domain names with .asia as their extensions. This virtual time-landmark gave an opportunity for both domainers and investors to hit it big as it was the right time to professionally acquire, develop and sell domain names with the latest extension to become available in the cyber world. It should be noted though that all those who wanted to engage in this business were required to follow the strict guidance, procedures and requirements laid out in order to avoid confusion. The .asia extensions were to be given first-com-first-served basis or through an auction.
Search engines never fail in bringing up the latest in the field of ‘domaining’ and there is always something new happening almost everyday. It can be quite interesting to read some of the stories that this business throws out to its followers sometimes. Just recently we also read about how a pizza.com was sold for millions of US dollars.
All those dollar signs may actually motivate you to get involved in this business and try your luck. This will go on for as long as the internet is alive. There is always room for more and there will always be a need to house a new webpage.
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