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Reply With Quotedepends on the amount of work you did and your overall involvement, but usually 5-10%
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What's a fair brokering fee for a mid 6 to 7 digit name?
What's a fair brokering fee for a mid 6 to 7 digit name?
depends on the amount of work you did and your overall involvement, but usually 5-10%
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Brokers don't take 5%. At least not sedo, not toby, or anyone else I have heard of.
10%-15% is what majority of people pay.
It is going to depend greatly on who is brokering the name.
I know some who charge (and get) 30-35%. These are typically attorneys who do all the legal paperwork, contracts, etc.
For private brokers, 15%-20% is not unheard of or unreasonable.
If you start getting higher profile brokers (bloggers with large followings) expect top ranges of brokerage fees that you are seeing here.
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Thank you very much for the input on the topic.
what's fair?Originally Posted by NickSE
What's a fair brokering fee for a mid 6 to 7 digit name?
did the broker already have or find a buyer before you did or before someone contacted you?
"fair" is what you feel comfortable with
but i'd never pay a broker upfront before they have secured a buyer and would never pay any "advance non-refundable fee's"
though if i hand-regged a name and the next day, a broker found me a mid 6 figure buyer....i'd give them 40%
that would be more than fair!
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Licensed, bonded, insured, established company with an integrated escrow agency: ~15%What's a fair brokering fee for a mid 6 to 7 digit name?
Somewhat established company with a track record (cannot be an individual): ~10%
Individual, could be living in Mom's basement, could be a foreigner: ~5%
The good one's do it steady and dont have to ask 20-30%.
For an experienced pro, 5-10%.
How much legwork is the broker doing? Are they investing time and money contacting potential end users to ensure you get top dollar for the name or are they simply bringing an existing buyer client to the table for a quick deal? What's the name? You'd be surprised how many people on the forums may be interested if the price is right for the name and best of all if you sell that way you pay 0 %
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Unfortunately, been there and done that and I was stupid at the time as it rapidly became a huge negative which still impacts me today after 2 years. A GIGANTIC mistake.
The fee is not the main concern. The question is how much the broker can sell the name for.
Ex: I have a name and I want to sell at $10K (I am not disclosing how much I want to sell - The broker has to tell me how much he/she can sell it for) and willing to spend 10% for the fee.
What if the broker sell the name for $20K or $30K?
So the question is can they sell the name? As long as you make a profit the fee is secondary.
In this example I am willing to pay 50% fee if they can sell the name for $20K.
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