Reselling domain names online provides great potential for profits. Merchants are often willing to pay big sums of money to secure the perfect domain name for their site. But trading in domain names can expose you to significant risks if you are not well-versed in methods to secure yourself from larcenous purchasers. On occasion, people will try to trick you into transferring the domain name to them without paying for it ? normally those who plan to resell the domain name to someone else. If you don?t take adequate defence measures, you could fall victim to one of these larcenous consumers.
One method to defend yourself when reselling domain names online is to resort to a domain name escrow service. An escrow service assures that neither you nor the consumer has access to the domain name and the funds at the same time so that both of you can breathe easy about the exchange. With an online escrow site, you will still post the domain names in your possession on your own web site or an auction site, but if a purchaser offers to obtain one of your domain names you complete the exchange on the escrow site where the arrangements can be handled securely. The escrow firm makes certain both purchaser and supplier are secured and contented.
A domain name escrow service protects you by getting payment from the shopper before ownership of the domain name is conveyed. Escrow services levy a small fee for registering your transaction with them and they act as a neutral third party in the transaction. Instead of paying you directly, the shopper pays the escrow service which then keeps the payment until the shopper sends notice that the domain name has been transferred. The escrow service will verify that the payment is valid and not a simulated remittance before authorizing you to convey rights to the domain name. Once the consumer notifies that the domain name has been transferred successfully, the escrow service will relinquish custody of the payment in your favour.
This method of reselling domain names secures the consumer as well because you don?t receive payment until ownership has been conveyed. You don?t have to feel uneasy about charge backs, bad checks, or fictitious payments and the consumer doesn?t have to think about whether he?ll get his domain name after having paid for it. In most cases, the greater degree of trust that buyers have when using a domain name escrow service results in more sales and higher-value sales, which mean more profits for you.
Once in a while, an unethical consumer will try to dupe you of domain names by employing a fake escrow service. The bogus site deceitfully informs you the shopper has made a payment and authorizes you to deliver the domain name. Because it?s a phony service, you end up with no money and having lost control of the domain name. If a shopper stands firm on using an escrow service for the order, ensure it?s authentic. Search web comments, articles and directories to ascertain the business is real. You can also consult a WHOIS database to ensure the owner of the web address is the escrow service. Also make sure the site has an URL (address) that starts with ?https://,? which implies the site is protected.
One widely used domain name escrow service is PayPrimo.com. This escrow service not only has high security measures, like minimum 128-bit data encryption and modern security defences to safeguard your data, but it also runs a dispute resolution service to provide a forum where you and the purchaser can iron things out if a problem crops up. Authentic domain name escrow services, like PayPrimo.com, also use familiar and trackable money transfer options, like credit and debit cards.
Your online escrow experience will also be greatly enhanced if your escrow service includes features like a variety of payment options, including credit cards, debit cards, and wire transfers, along with extensive help guides, detailed transaction instructions, and a simple and responsive interface. If you are vending domain names to parties in other countries, also make sure your escrow service accepts and transfers payments in multiple currencies, particularly EUR, USD and GBP, like PayPrimo does. In addition to top-of-the-line security and easy-to-follow features, PayPrimo also operates an affiliate program that makes it easy to use PayPrimo with all your online transactions.
PayPrimo?s website will give you more information about domain name escrow and how internet escrow works. Learn more about domain escrow here.
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