A good buyer's broker can save you money, time and a failed first approach. A poor one can cost you all three. Ask these questions before you hire one.
1. Who do you represent?
Many brokers mainly represent sellers. Make sure yours works only for you on this deal, with no commission from the seller.
2. How are you paid?
Common models include an engagement fee, a success fee, or both. Ask what you pay if the deal doesn't happen, and whether any upfront fee is credited against the success fee.
3. How will you find and contact the owner?
Look for real research: current and historical WHOIS, the domain's history, the owner's other names, and a plan for following up.
4. Will you keep my identity confidential?
The answer should be yes, by default.
5. Who approves offers?
You should set the limit and approve every offer.
6. How will the deal close?
Through a licensed escrow service, with the domain transferred into your own account.
These are the standards we work to at NameUpgrade. See how we work.
Questions
Is a domain broker worth it?
If the name matters to your business, if revealing your company would raise the price, or if the owner hasn't replied to you, a buyer's broker is usually worth it.
What should I tell the broker?
The domain, why it matters, your timeline, and the most you'd be comfortable paying. That limit stays between you and the broker.
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