Domain broker wants commission from both seller and buyer?

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  • wimpy
    Confirmed User
    • Jan 2003
    • 607
    #1

    Domain broker wants commission from both seller and buyer?

    This guy's broker is back:
    http://gofuckyourself.com/showthread...hreadid=228679

    I declined his prior offer with "sorry, not interested in selling." Now his domain broker is back with an offer that is into 6 figures.

    Domain broker is trying to work both sides of the fence. He told me that buyer is paying him 10% commission, and he wanted me to also pay him 10% commission. I thought that was pretty shady.

    I am considering offering him a generous commission on the amount that is over 100K. Ie, no commission on the first 100K, then 25% commission on anything over the first 100K. I think this company will go 250K at least.

    Do you think I am on dangerous ground here? I mean, could offering a commission to the broker (who asked for a commission) put me in danger of ICANN seizing the domain and giving it to the buyer? It does border on my trying to sell the domain to them, but then again, they approached me at every step, I'm just responding.

    btw, my response to the 100K offer was "sorry, not interested."
    Fyodor Dostoyevsky wrote: "Every man has reminiscences which he would not tell to everyone but only his friends. He has other matters in his mind which he would not reveal even to his friends, but only to himself, and that in secret. But there are other things which a man is afraid to tell even to himself, and every decent man has a number of such things stored away in his mind."

    icq 8243657
    Tags: None
    • Steen2
      Confirmed User
      • Feb 2004
      • 7662
      #2
      Broker playing both sides is nothing uncommon imo, although sometimes he/she pisses one/both sides off and things turn to hell.
      ICQ: 2262.73945

        Comment

        • smashface
          Confirmed User
          • Sep 2002
          • 991
          #3
          Hire an attorney with Domain/IP experience to represent your side and let him take care of it.

          This broker doesnt appear to be representing your best interests.

            Comment

            • Steen2
              Confirmed User
              • Feb 2004
              • 7662
              #4
              ICANN doesn't seize domains btw.

              If you have some time, read here: www.wipo.int
              ICQ: 2262.73945

                Comment

                • wimpy
                  Confirmed User
                  • Jan 2003
                  • 607
                  #5
                  Originally posted by smashface
                  This broker doesnt appear to be representing your best interests.
                  Actually, he might be. He wants to get the highest commission he can, which means the highest price.
                  Fyodor Dostoyevsky wrote: "Every man has reminiscences which he would not tell to everyone but only his friends. He has other matters in his mind which he would not reveal even to his friends, but only to himself, and that in secret. But there are other things which a man is afraid to tell even to himself, and every decent man has a number of such things stored away in his mind."

                  icq 8243657

                    Comment

                    • Ron Bennett
                      Confirmed User
                      • Oct 2003
                      • 1653
                      #6
                      Don't play their games ... tell the buyer to open an escrow at escrow.com with the *buyer* paying *all* escrow fees.

                      It's important that the buyer is the one initiating the escrow ... and in this instance, it's important they pay the *entire* escrow fee - in most cases, it doesn't matter much, but I have a feeling they're playing games ... you don't want to be get stuck owing escrow.com money; yes, technically escrow.com says they'll go after the party that backs out, but in reality, don't count on that ... cover all the bases - and really, if they're offering $100K or whatever, they can afford an extra ~$1K or so.

                      In a nutshell, sit back and respond with little more than "open an escrow at https://www.escrow.com/" and leave it at that.

                      Good luck

                      Ron
                      Domagon - Website Management and Domain Name Sales

                        Comment

                        • JFPdude
                          Confirmed User
                          • Jan 2002
                          • 4027
                          #7
                          Originally posted by Ron Bennett
                          Don't play their games ... tell the buyer to open an escrow at escrow.com with the *buyer* paying *all* escrow fees.

                          It's important that the buyer is the one initiating the escrow ... and in this instance, it's important they pay the *entire* escrow fee - in most cases, it doesn't matter much, but I have a feeling they're playing games ... you don't want to be get stuck owing escrow.com money; yes, technically escrow.com says they'll go after the party that backs out, but in reality, don't count on that ... cover all the bases - and really, if they're offering $100K or whatever, they can afford an extra ~$1K or so.

                          In a nutshell, sit back and respond with little more than "open an escrow at https://www.escrow.com/" and leave it at that.

                          Good luck

                          Ron

                          The first solid advice in this thread

                            Comment

                            • tungsten
                              Too lazy to set a custom title
                              • Mar 2004
                              • 10579
                              #8
                              Originally posted by Ron Bennett
                              Don't play their games ... tell the buyer to open an escrow at escrow.com with the *buyer* paying *all* escrow fees.

                              It's important that the buyer is the one initiating the escrow ... and in this instance, it's important they pay the *entire* escrow fee - in most cases, it doesn't matter much, but I have a feeling they're playing games ... you don't want to be get stuck owing escrow.com money; yes, technically escrow.com says they'll go after the party that backs out, but in reality, don't count on that ... cover all the bases - and really, if they're offering $100K or whatever, they can afford an extra ~$1K or so.

                              In a nutshell, sit back and respond with little more than "open an escrow at https://www.escrow.com/" and leave it at that.

                              Good luck

                              Ron
                              great advice
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