7 Traits of a Great Domain Broker

Unlike in real estate or insurance, one does not need to be formally trained, licensed, or certified to be a domain broker. Such little oversight means that more research is required to weed out good brokers from the bad actors.

So what traits should you look for in a domain broker? Here are the most important qualities you should consider when evaluating potential domain brokers.

A Sterling Reputation

Reputation is king in domain brokerage. A successful track record is one of the best ways to determine if a broker is honest and reliable. Take time to look at the deals that they have brokered in the past. Whenever possible, go through testimonials from clients to find out what their experiences were.

Strong Negotiation Skills

Buying and selling domains involves protracted discussions on terminologies and prices. Any successful broker needs to have great negotiation skills. They will help you avoid common mistakes, such as contacting the domain owner directly, which often leads to inflated prices.

You may also want to learn more about their negotiation philosophy so you can establish if they will represent your best interests in the deal. An excellent communicator will be in a better position to negotiate better.

Experience in Your Niche

While there are many domain brokers in the market, go for one who has experience in your industry. A broker with knowledge of your niche will have a better understanding of fair market value and a mailing list full of potential end-users.

A Large Network of Sellers and End-Users

Finding a domain owner or buyer can be daunting and time-consuming. The best brokers have an extensive mailing list and enjoy healthy relationships with domain owners across the world. When a domain broker has a vast set of contacts, they can help you find the best buyer quickly.

Research Savvy

It takes a lot of research to identify quality end-users. Solid research skills will play an essential role in helping a broker track down domain name owners and buyers in a prompt fashion. They should be able to think outside the box, using innovative strategies to guarantee value for both parties.

Persistence and Passion

A good domain broker should be passionate about their job. Learning new industry trends should be something they take pride in. Further, an enthusiastic domain broker will be excited about working on the project. Many domain transactions can carry on for months, making it necessary to have a broker with unwavering commitment.

A Personality That Fits Yours

Since you may be working with the broker for a considerable period of time, make sure that you get along with them. If you have an energetic personality, search for a domain broker that matches your energy. On the flip side, if you have laid back personality, or you work in an industry that demands a laid back approach such as guidance and counseling, go for a broker with a gentle and measured approach.

When looking for a good domain broker, you should ensure that their focus is on quality as opposed to quantity. Apart from conducting a search on the Internet, you can also find a domain broker by asking people in your business network for recommendations.