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N.D.A’s Are A Drag But A Necessary One

Thursday, May 12, 2011
By admin

Aside from deals falling through at the last minute, buyers not keeping their word, sellers changing their minds, deals stalling, bidders lowballing etc one of the biggest downsides about brokering high end domains is not being able to disclose them when you finally manage to sell them.

N.D.A’s (Non Disclosure Agreements) prevent a broker making public sales they have closed. Last week we closed exactly $65.5 k in brokered sales but we can’t report any of them. Any broker of any repute wants people to know sales he has secured. All brokers are natural self publicists, it comes with the territory. If you haven’t got an innate desire to put yourself (and more importantly your clients names) out there then what’s the point? Sure you can work behind the scenes and sometimes that’s exactly what is required as sometimes you have to be discreet, more often you have to let as many potential buyers know that this is more than likely their one and only opportunity to BUY! and to buy at a specified price point.

When a broker lands a sale the first thing he should clarify with buyer and seller is if it is ok to publicize the sale. For obvious reasons some sellers (but many more buyers) do not want the sale mentioned anywhere. That makes sense, perfect sense, especially if they have plans to resell in the future. Once a sale is made public (ie via DNJournal.com etc) it’s there forever. It’s a permanent record, a permanent reference point.

As frustrating as it is for folks like me I totally respect a client if they wish to maintain an N.D.A. It would be totally unprofessional of me not to. My policy is not only not to make it public but also not to mention details to peers etc, as word invariably gets around, it’s human nature.

Ron Jackson as we all know does a superb job of chronicling high end sales (and lower end sales) for our Industry. Ron was awake to the importance of this task way before anyone else and for that he has to be applauded.

Without DNJournal our Industry would be far less established. Ron was the first to put word out there, to Investors, CEOs, Startups etc etc. His work has been vital, and long may he continue to let potential end users know how crucial it is to own the best of domains, should they have any hope of thriving online. More than anyone else Ron has raised awareness of not only domains but the true value of domains!

But just like Ron (no doubt) and the rest of us, I can’t help wonder how much more established our Industry would be if ALL sales were reported! I get the feeling that published sales are just the tip of the iceberg in this Industry of ours.

If you like short domains check out this link.

We are running a short online domain auction and it starts this friday!

 

 

thanks for reading,

Andy Kelly

C.O.O Namecake

C.E.O UpMarketURLs



1 Comment »

  1. by JohnCunningham |  May 13, 2011, 10:41 am  

    As ever an excellent post.
    So much of what you say applies to domain sales in general and not just brokerage.
    Keep up the great work.

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