What Is the GoDaddy Domain Broker Service, and Is it Worth It? (2024)

Get a Free Consultation

What Is the GoDaddy Domain Broker Service, and Is it Worth It? (2)

by Joe Uddeme

Looking to buy or sell a domain? Get a free consultation today.

GoDaddy is the world’s largest domain registrar, with over 90 million domain names registered and counting. Thanks to never-ending marketing, the average person likely thinks of GoDaddy when they want to buy a new domain.

It’s common for people to visit GoDaddy, type the domain they want to buy, and see that someone else has already taken it. But GoDaddy doesn’t leave the user hanging– it suggests an alternative domain name or advertises its domain broker service, as seen below:

What Is the GoDaddy Domain Broker Service, and Is it Worth It? (3)

The box on the right suggests an alternative domain to the one already taken, and the left shows a broker service and a See More button to click on to get additional information. But what exactly is the GoDaddy domain broker service, and how does it work?

This article will explain that.

GoDaddy Domain Broker service

Domain brokers are professionals who specialize in buying and selling domain names. They’re the internet’s version of real estate agents, connecting domain name buyers to interested sellers for a fee.

It’s common for people to think of a domain name they really want for their business but find out that it’s already registered. If you fall into this category, GoDaddy offers a domain broker service to help you acquire a domain name from its existing owner. If you pay for the service, you’ll be assigned a personal domain broker to reach out to your target domain name’s owner, negotiate a sales price, and facilitate the domain transfer. Your identity remains anonymous throughout this process.

However, there’s no guarantee of getting the domain name you want. If the owner insists on not selling, GoDaddy can’t force them to say otherwise; this is where it gets interesting. The GoDaddy Domain Broker Service fee ($119.99 per domain) is non-refundable, and your assigned broker has 30 days to negotiate a deal. You’ll forfeit the fee if 30 days lapse without your broker clinching a deal. But, if the broker successfully negotiates a deal, GoDaddy collects an additional 20% of the sale price before transferring the domain.

GoDaddy’s $119.99 non-refundable fee plus 20% commission is rather steep for small to midsize businesses. The commission is understandable, given that most domain brokers charge between 10% and 20%, but the initial non-refundable fee discourages smaller companies from using the GoDaddy Domain Broker Service. If you’re in this category, you’ll be happy to know you can choose alternative domain brokers that charge low initial fees or, if at all.

Name Experts is a good example of a domain broker service having reasonable fees. We can help you acquire premium domain names without hassles. Like GoDaddy, we find the target domain’s owner, negotiate a deal, and transfer the domain to you. To make things better, we don’t have GoDaddy’s 30-day limit, which can force you to forfeit significant fees.

Why should I use a domain broker service?

Privacy

A domain broker protects your privacy during negotiation. The owner won’t know you’re the one who is interested in their domain. All they know is that someone represented by the broker wants to buy their domain, and they negotiate directly with the broker.

Without privacy, domain owners can easily exploit intending buyers, especially when the buyer is a well-known company with significant funds. An opportunistic owner can hike their prices if they discover the buyer is a prominent company, but domain brokers shield their client’s identity to prevent this situation.

Cost-effectiveness

Domain brokers are skilled and experienced digital property appraisers. Based on their knowledge and past deals, they know the optimal price for a premium domain. In contrast, you likely don’t know the optimal price and could underbid the domain, causing the owner to reject your offer or overbid and get taken advantage of. Handing the negotiation to a domain broker helps you save money even when accounting for the broker’s commissions.

Transaction security and ease

A professional domain broker service makes buying a domain as seamless as possible. They handle the hectic negotiation process and arrive at a final price with the owner. Then, they handle the legal documentation required to take ownership of the domain. Lastly, the broker uses an escrow service to acquire a domain, escrow meaning the funds aren’t released until you confirm ownership of the domain.

Acquiring a premium domain name by yourself can be complicated and leaves you vulnerable to being cheated. However, domain brokers are experienced in closing deals safely and handling legal documentation in case of future disputes.

If you want to acquire physical real estate, you’ll offload the headaches to a licensed broker for a fee. The same applies to digital real estate– professional brokers make buying domain names painless.

Considerations for choosing a domain broker

Cost

Cost is a critical consideration when choosing a domain broker, as choosing one whose services you can afford is necessary. The main drawback of the GoDaddy Domain Broker service is the non-refundable $119.99 fee. GoDaddy customers must pay this fee whether the broker negotiates a successful deal, which can be daunting to a small business. There’s also a 30-day cap, after which customers forfeit their fee if no deal is formalized.

In contrast, some domain brokers charge only commissions, meaning you’ll only pay when a deal is successfully negotiated. Some charge initial fees that are refundable if no deal closes. No matter what, you can find a more cost-effective deal than GoDaddy’s in one of many alternative brokers.

Track record

You can evaluate a domain broker’s credibility by checking their past deals. What high-value domains have they acquired in the past, and what do customers say about them?

The good news is that most domain brokers provide testimonials and general information about past deals. At Name Experts, we’ve successfully closed over $90 million in domain name sales, including premium domains like Link.com, 20.com, and Connect.com.

Payments security

Domain name acquisitions involve sizable sums you can’t risk losing. Hence, a good domain broker must utilize a secure payment infrastructure for both buyers and sellers. Payments processing platforms like PayPal, Wise, and Square make it easy to pay the required fees. We’ve also mentioned online escrow services, i.e., a third party that holds the payment and only disburses it to the seller after you confirm receipt of the domain.

Negotiation skills

Domain brokers are salesmen at heart. An ideal broker needs ample negotiation and persuasive skills. Some owners may be reluctant to sell, but a skilled broker can convince them to change their minds.

Selling a domain name via a broker

Remember, a broker works for two parties: the buyer and the seller. You might own a valuable domain you want to sell but don’t know how to find a buyer willing to pay your target price. A domain broker helps you market the domain to prospective clients for a fee.

Name Experts helps businesses buy valuable domains and domain owners to find interested buyers. Don’t hesitate to contact us if you’re in either category.

Subscribe for More Domain Buying & Selling Advice

Related Posts

  • How to Buy a Domain Name Owned by Someone Else

    August 9th, 2024|0 Comments

  • Best Domain Brokers for Buying and Selling Domains

    July 12th, 2024|0 Comments

  • Uncovering the History of a Domain

    May 17th, 2024|0 Comments

  • May 17th, 2024|0 Comments

What Is the GoDaddy Domain Broker Service, and Is it Worth It? (4)

.

ABOUT NAME EXPERTS

Joe Uddeme has been brokering since 2009 to help businesses handle complex domain, website and IPV4 negotiation and transactions.

Joe has successfully closed over $90mm in sales with premium domains like MK.com, Link.com, 20.com and Connect.com.

Services

Company

What Is the GoDaddy Domain Broker Service, and Is it Worth It? (5)

What Is the GoDaddy Domain Broker Service, and Is it Worth It? (2024)

FAQs

What Is the GoDaddy Domain Broker Service, and Is it Worth It? ›

Coordinating and negotiating the sale of a domain can be a tedious and time consuming process. Domain Broker Service lets you sit back and relax while your broker agent does all the heavy lifting. We protect your privacy. You'll stay anonymous throughout the process.

What is domain broker service on GoDaddy? ›

Domain Broker Service guarantees a personal domain broker that will dedicate a maximum of 30 days to mediate a sale with the domain name's current owner. While we can't guarantee the acquisition of a domain name, we'll do our best to contact the current domain owner and negotiate a deal for you.

Should I use a domain broker service? ›

If you want to buy a domain someone already owns, you'll likely need a domain broker service. Finding the owner of the target domain and negotiating a deal can be hectic if you don't seek professional help. A broker makes the process easy while you focus on other endeavors.

Can I cancel domain broker service GoDaddy? ›

You may decide a monitored or backordered domain no longer suits your needs, so you can cancel these services at any time within your account. Go to your GoDaddy My Products page.

Is it worth it to get full domain protection from GoDaddy? ›

It can help prevent unauthorized domain transfers and provide monitoring and alerts for any changes made to your domain. If these features are important to you and you want to ensure the security and privacy of your domain, then GoDaddy domain protection may be worth considering.

How much is GoDaddy broker fee? ›

As a Domain Buy customer, you pay a one-time Advisor Fee up front, and if you get the domain, we'll charge you a 20% fee based on the sale price of the domain.

How much does a domain broker at GoDaddy make? ›

The average Domain Broker base salary at GoDaddy is $98K per year. The average additional pay is $58K per year, which could include cash bonus, stock, commission, profit sharing or tips.

Who is the best domain name broker? ›

Grit Brokerage – The best if you regularly buy premium domains. Domain.com – The best for buying .com domains without a broker. Namecheap – The best if you can afford to be flexible about your domain name extension. VPN.com – The best for keeping your identity under wraps.

What is the best domain service? ›

The Best 10 Domain Name Registrars of 2024
  • IONOS: Best for small businesses.
  • DreamHost: Best for customer support.
  • Porkbun: Best value for price.
  • Namecheap: Best for user-friendly interface.
  • Hostinger: Best for hosting packages.
  • NameSilo: Best for security.
  • Dynadot: Best for low renewal rates.
Aug 27, 2024

Do domain brokers make money? ›

In a typical scenario, however, most brokers will require a small retainer and then will earn a take-home fee of between 10% and 30% of the final selling price.

Is the GoDaddy broker fee refundable? ›

Your purchase is non-refundable and non-transferable. If you want to pursue a different domain name instead of the one you originally purchased, you must purchase a separate request to acquire the new domain name through Domain Broker Service.

What is the domain broker fee? ›

The domain is securely transferred to your account. If the owner agrees to the sale, you'll pay the negotiated sale price plus a 20% commission.

What happens if I cancel GoDaddy? ›

Closing your GoDaddy account will permanently delete all associated information.

Can you negotiate GoDaddy domain price? ›

If the current domain owner is open to selling, negotiations will begin. Your broker agent will do their best to remain within the budget you set, aiming for a price you and the seller are both comfortable with. The current owner may counter-offer with a different price.

Why are some GoDaddy domains so expensive? ›

Registry premium domains: When a domain registry identifies a domain likely to attract many buyers, they label the domain as premium. And this designation leads to a higher price that reflects the higher demand.

Should I pay to protect my domain name? ›

The simple answer is no. As a website owner, you do not need to purchase domain privacy. However, the service offers a number of important benefits, including reducing spam and unwanted solicitations.

What is the job of a domain broker? ›

Domain brokers spend innumerable hours on the telephone, drafting emails, answering questions and negotiating prices. You'll have to be well prepared and dedicated to make domaining work for you.

Do I need a domain proxy service? ›

The simple answer is no. As a website owner, you do not need to purchase domain privacy. However, the service offers a number of important benefits, including reducing spam and unwanted solicitations. We think any website owner will be better off for making a small investment in his or her privacy.

Top Articles
Latest Posts
Recommended Articles
Article information

Author: Aron Pacocha

Last Updated:

Views: 6172

Rating: 4.8 / 5 (48 voted)

Reviews: 95% of readers found this page helpful

Author information

Name: Aron Pacocha

Birthday: 1999-08-12

Address: 3808 Moen Corner, Gorczanyport, FL 67364-2074

Phone: +393457723392

Job: Retail Consultant

Hobby: Jewelry making, Cooking, Gaming, Reading, Juggling, Cabaret, Origami

Introduction: My name is Aron Pacocha, I am a happy, tasty, innocent, proud, talented, courageous, magnificent person who loves writing and wants to share my knowledge and understanding with you.