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Domain Brokers!! Buys yours for $5000, but 'sells it on' for $30,000!! -SNEAKY

Discussion in 'Domain Names' started by entry, Jan 28, 2017.

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  1. #1
    If you use a domain broker to sell some domains for you, as they act as the third party, and they sell on to their potential list of buyers, who have purchased domains before from the broker,


    Then can the broker be sneaky, and 'hide' the real value of the domain (keeping it to them selves)

    - lets say you tell them the domain you want to sell, and the domain broker knows that some of his list of buyers will be willing to pay is $30,000 for the domain)

    but the broker gets sneaky and gets back to you saying that the domain is getting a value of $5000 from a buyer, ($25,000 less)

    and then when you sell it to the broker for $5000, they they secretly sell it on to the buyer who originally is willing to pay $30,000 for it?
    - and the broker gets a $25,000 profit for themselves!

    (so the broker has known that the domain will get $30,000 from a buyer, but JUST tells you that it will fetch JUST $5000)

    1) Have you used a broker - what was your experience?

    2) Have you used a broker, and they have and they have done exactly this to you ? (told you it is worth less, and they sell it on for MUCH higher)

    3) How can you check if the broker does NOT operate like this?
    (so that you basically will get an honest value of $30,000 from the broker)

    4) Do you have experience in using a domain broker, who does NOT operate like this?

    What are your opinions on 1) 2) 3) and 4)

    thanks.
     
    entry, Jan 28, 2017 IP
  2. karlori

    karlori Member

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    #2
    1. Used Only Sedo and NameCheap marketplace - both ask the price you put so its transparent
    2. Never, seen my domains flipped on ebay and here for a higher sum, but most of the time got what i asked for
    3. Maybe contact via WHOIS info the real owner and ask for a BIN price ? But that could be breaking some of the WHOIS sites TOS
    4. As said Sedo, NameCheap etc. mostly regisar marketplaces.
     
    karlori, Jan 31, 2017 IP
  3. bae

    bae Well-Known Member

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    #3
    Escrow does have an option for the Broker to make the transaction transparent to the Seller and/or Buyer. So if you are concerned, you could ask them to make the transaction transparent to you so you can see the actual sale price.

    Google the broker to see if there are any comments regarding his / her reputation. Some have very bad reps, even for stealing their clients' money (they didn't use Escrow).
     
    bae, Feb 1, 2017 IP