New Transfer System

[nicpal]

What's up with the new system going on here. Usually when I sell a domain which is registered at Dotster, I'd simply push into Sedo's Dotster account assuring the domain has successfully been pushed and secured for both the buyer and the seller. Now, on the last sale, Sedo advises me to push into the buyer's account, which was fine, but now I have to wait for Sedo to verify this and wait until the other party updates the contact info to reflect in the WhoIs. This delays the transaction substantially considering the seller is the one the Sedo makes the money from in fees, they should be more accommodating to them. What normally would've have been a 3-5 day transaction has now lingered for 2 and half weeks because of this new turn. What gives?

 

[Domagon]

I've never bought nor sold a domain through Sedo and thus why I ask this basic question ...

Did you know who the buyer was (address, email, etc) when it came time to push the domain?

If you did, then it's a simple matter of keeping in touch with the buyer and walking them through the process to keep things moving; even easier is to update the Whois info to the info of the buyer *before* the registrar transfer (push) ... that way there's little, if anything, more for the buyer to do.

Ron

 

[Nameable]

I got stuck even worse with sedo... we came to an agreement on 6/4/04... the domain was at a namewinner partner site (net one domains I think) and the buyer wanted to xfer to godaddy. I said fine, let the xfer through, and told sedo. Took them a MONTH to realize the xfer went through. I got my money from sedo (finally) on 8/19. As of right now the buyer still hasn't updated the whois data and the domain is just parked at godaddy.

 

[nicpal]

I've never bought nor sold a domain through Sedo and thus why I ask this basic question ...

Did you know who the buyer was (address, email, etc) when it came time to push the domain?

If you did, then it's a simple matter of keeping in touch with the buyer and walking them through the process to keep things moving; even easier is to update the Whois info to the info of the buyer *before* the registrar transfer (push) ... that way there's little, if anything, more for the buyer to do.

Ron

Hi Ron,

No SEDO handles the brokering of the domain name for both parties so there is never any direct contact between the buyer and the seller, at least for transfers through Dotster. Maybe through a different registrar like GoDaddy.com where you are required to have the details of the other party to initiate an account transfer this may differ. But as far as the Dotster transfers go, the domain was usually pushed into the SEDO account at Dotster via their username...and this would obviously ensure that I had pushed the domain to them and they could then allocate the domain to the other party as needed. This would make for a flawless transaction with no issues at all. The last transfer, Sedo gave me the Dotster account username for the other party which makes it a real hassle for two main reasons. If SEDO cannot verify the push of the domain by not getting in touch with the receiving party, the seller is left waiting on payment until they do finally make contact; and, if the receiving party does not update the registrant/WhoIS details, the seller is left awaiting payment again until Sedo can verify this info as well.

The whole purpose of being a broker is to ensure both parties have smoothe, fluid transaction and by this latest transaction this is not what has happened. They have eliminated an essential step in their brokering services which is vital for the satisfaction of both parties. Considering that, the seller should be first and foremost "taken care of" as the fees deriving from their income come from the seller as well as income from Parked Domain they are receiving from us. Sedo must seriously take a look at this new way of dealing with transfers because I have brokered domains outside of SEDO where the new registrant still has my domain name details as the registrant from a sale of over a year ago. I'll be damned if I'll wait a year for a payment.

Please let's get back to the transfer into a neutral SEDO account....this the way it should be!

 

[Luckystar]

aww,that's bad

 

[Domagon]

...No SEDO handles the brokering of the domain name for both parties so there is never any direct contact between the buyer and the seller...

Figured that based on your dilemma, but wanted to ask to be sure...

How does one transfer a domain name properly when they don't exactly know who the buyer is?

Even in real estate using a traditional broker, the seller KNOWS who the buyer(s) is ... typically even before any agreements are signed.

...Considering that, the seller should be first and foremost "taken care of" as the fees deriving from their income come from the seller as well as income from Parked Domain they are receiving from us. Sedo must seriously take a look at this new way of dealing with transfers...

Sedo appears to be more focused on the parking/computer side of thnigs as opposed to selling. Sedo appears to be learning the law as they go in regards to doing sale transactions.

...I'll be damned if I'll wait a year for a payment...

Consider how Sedo operates, you likely could have ended up in such a situation with some of your domains if you had used Sedo...

Legally, Sedo is in a legal pickle when the seller no longer has control and yet Sedo doesn't release the funds in a timely manner.

Please let's get back to the transfer into a neutral SEDO account....this the way it should be!

Sedo is learning as they go ... they likely found there are various legal and operational reasons for not allowing that ... one that comes to mind is that Sedo releases funds to the seller and then the buyer refuses/can't accept the domain for whatever reason - leaving Sedo with a domain, less money, and a big problem. A more practical reason is that Sedo is then stuck with the task of getting the domain into the buyer's account - not much incentive for Sedo to do that once the funds have already been released to the seller and Sedo has already collected its commission.

Ron

 

[nicpal]

Sedo is learning as they go ... they likely found there are various legal and operational reasons for not allowing that ... one that comes to mind is that Sedo releases funds to the seller and then the buyer refuses/can't accept the domain for whatever reason - leaving Sedo with a domain, less money, and a big problem. A more practical reason is that Sedo is then stuck with the task of getting the domain into the buyer's account - not much incentive for Sedo to do that once the funds have already been released to the seller and Sedo has already collected its commission.

Oh don't worry about that. Sedo isn't stupid, they collect the funds first and foremost before initiating the transfers. If the buyer wants to back out before the transfer is done I'm sure they will placate....but other than that too bad the buyer is SOL. That's why they have the agreement of the parties prior to any activity!

 

[Domagon]

Oh don't worry about that. Sedo isn't stupid, they collect the funds first and foremost before initiating the transfers. If the buyer wants to back out before the transfer is done I'm sure they will placate....but other than that too bad the buyer is SOL. That's why they have the agreement of the parties prior to any activity!

Yes, Sedo has all the money, but if for some reason they aren't able to get the domain name transferred properly to the buyer, who is Sedo going to go after? The seller? Nope ... the seller released control of the domain to Sedo as agreed. See the problem ... :goofy:

Ron