The GoDaddy Domain Broker Service is an offering that helps investors and webmasters attempt to acquire domains that aren’t readily available on the market. This gives potential buyers a chance to have professionals with advanced tools work to locate domain names owned by others and try to set up a deal.
There are times where even an experienced investor won’t be able to track down the contact information for a domain name. This is GoDaddy’s answer to help those buyers try to get ahold of a domain that might otherwise be impossible to purchase.
Let’s jump into a full review of GoDaddy’s Domain Buy Service and see if it’s right for you or not.
What is GoDaddy Domain Broker Service?
The GoDaddy Domain Broker Service is the specific paid service where GoDaddy representatives do outreach on your behalf to track down the owners of a registered domain name.
This is a service that is meant to serve several purposes on behalf of the buyer looking for a specific domain name. They not only often have the ability to locate and contact the owner of a domain name that an independent investor may not be able to, but they work to broker a deal, as well.
This combination of finding the domain owner, opening negotiations, and hopefully closing a deal on behalf of the investor can make them a great option when a buyer is set on a domain name already registered to someone else.
Why Use a Brokering Service?
There are multiple reasons for using a brokering service versus trying to do it solo. One of the big ones is that many of these services from registrars work well because they have access to a deeper array of tools and information that non-brokers don’t.
Classic reasons why using a brokerage service makes sense:
- The domain is registered to someone but their information isn’t public
- Your outreach skills are relatively poor
- Your negotiation skills are weak or you’re not used to large negotiations
- Going through a broker puts forward a more professional front
- With a high enough budget, you get a team of professionals advocating on your behalf
- You want to stay anonymous as the buying party
These are all benefits of going through a brokering service to acquire a registered domain name.
It is important to note that going with a domain buy service is not a guarantee. If the domain name owner just doesn’t want to sell, they can’t be forced to.
What is the GoDaddy Buy Service Fee?
The Domain Buy Service can be beneficial for the right buyers in the right situation, but there are fees. You don’t get an entire team advocating on your behalf to attempt to locate a domain owner, contact them, and broker a deal for free.
So what are the fees associated with GoDaddy’s Buy Service?
- $99.99 just to purchase the domain buy service
- 20% commission of the final sale price
You tell them ahead of time the most you’re willing to spend on a domain, and they work to negotiate the best price for you at or below that purchase price. The commission comes from the final sales price.
What Are the Terms of GoDaddy Buy Service?
The Domain Buy Service (“Domain Broker”) page linked to earlier goes over how the process work in detail, but when it comes to terms there are three main points to pay attention to:
- The initial service fee is non-refundable
- The team will work on acquiring the domain for 30 days maximum
- If an offer is made you have 10 business days to accept that offer or any counter-offer the domain name owner makes during that time
If near the end of the 30 days there’s an offer, you still have 10 business days to make a decision. The main reason for that limit is a domain owner who can’t be found, won’t communicate, or just won’t sell.
In that case, the ticket is closed and the initial service fee is gone but no additional fees or expenses occur. You don’t have the money you were willing to spend stuck in escrow or anything like that.
Understanding those three main points will solve 90%+ of the potential problems or misunderstandings some individuals are most likely to run into with this service.
Pros & Cons Of Using GoDaddy Broker Service
There are both pros and cons of using the GoDaddy Broker Service. Understanding both sides of the discussion will help investors to figure out if it is right for them or not.
- You stay anonymous since GoDaddy is the face of the deal
- They have additional resources you don’t have access to
- Team of professionals negotiating on your behalf for a domain name
- Their tools, training, and connections increase the chances of finding the domain owner and acquiring that domain name
- The price is expensive, especially the final 20% commission if a sale takes place
- No refund of the initial fee
- No guarantee of results
- If time is an issue you might be waiting 30 days for any results (or no results)
For investors or webmasters really set on a domain name someone else has registered, this might be the best option to acquire the name. For others, it will make more sense to simply look for another domain name.
Several common questions come up about the Domain Buy Service provided by GoDaddy.
Does GoDaddy Domain Broker Service guarantee I’ll get the domain?
No. They have additional tools and information to track down domain owners, contact them, and attempt to broker a deal but no one can force a domain owner to sell a domain.
This service gives you the best chance of getting a registered domain name in many cases but it’s not a guarantee.
Does GoDaddy negotiate?
Yes. The professionals on the Domain Buy Service negotiate starting with a lower range price and work to try to get you a good deal within the range you set for them.
Does GoDaddy have escrow?
GoDaddy may use their own tools, however it is policy that for any domain at $5,000 or over that escrow is brought into the process and used via Escrow.com.
How do I cancel my GoDaddy domain broker?
You can decline an offer from the seller, however the initial payment is non-refundable so there is no getting that $119.99 back.
Is GoDaddy Domain Service Worth It?
The consensus seems to be that the fees and terms that come with the GoDaddy domain service are on the high side. If you can negotiate a sale yourself or look for a domain name that is openly for sale that might be the better option.
On the other hand, if you are completely set on one domain name, this service might be the best way to give yourself a chance at that perfect domain name.