Reputation first. Everything else is just details.
What matters to domain name investors when they select a domain name escrow company?
The biggest factor by far is reputation, according to participants in this year’s Domain Name Wire survey.
Survey-takers were asked to select the “primary reason” they use the escrow service they use most often.
Asked to choose between eight factors, 46% said reputation is most important. That’s a strong number made even more important because the second closest factor was chosen by just 12% of respondents.
Here are rankings of the top five.
1. Reputation 46%
2. Ease of use/user interface 12%
3. Customer service 9%
4. Price 7%
5. They’re licensed 5%
Factors selected by less than 5% of respondents, including write-ins, include funding & withdrawal options, dispute resolution policy, privacy of transactions, security, and buyer comfort.
These factors are more important now that the number of domain escrow services is growing. 26% of survey respondents said they’re considering trying a new escrow service this year.
Mike says
The one thing I would like to see is ability to sell in £ sterling .Escrow.com don’t do that.
Ammar Kubba says
Hi Mike, this is Ammar from Agreed.com. We have been handling £ Sterling escrows for some time now, as well as many other currencies. You can see all of the currencies that we support, as well as other information, at https://www.agreed.com/fee-calculator. Hope that helps…
cybertonic says
ecop.com also supports GBP and for years:!
So now you are aware of 2 escrow services supporting your currency.
Andee Hill says
EscrowHill.com also supports GBP along with many other currencies.
skorky says
what if a company is located off-shore- does that stem your recourse?
Andee Hill says
Hi Skorky,
When using an escrow service, your recourse is primarily through communication with the escrow company. The escrow company’s location would not alter your action of recourse.
joesaba2014 says
The registrars are already too many to be of the same brand , and I think ICANN accredited company with the reputation of these companies must be sought carefully, I am 6, while only 1 problem is not to get a record this.
Now find no one of these parks reputation for being the most dangerous and that reputation is online website with small print invisible to believe that all is well and you have to stick it up underneath.
The Global law for every company that we purchase online , can not have your credit card companies domain names which have a reputation more top 10 paying from paypal as they do not get it but take into account customer and this must be banned, laws are spent where they can not fulfill ( every law trap blocks ) and ue have the political and economic power in their boards of their companies and continue so long as all nostros not denounce this delicate time for us and not for the reputation of the recorder case.
Brandon Abbey says
Of course reputation is an important factor in choosing an escrow company and Escrow.com’s has been built over 15 years. Licensing is also an important issue because if you don’t have the proper licenses you are acting illegally. In the United States, as an example, the states of Texas and Arizona require the escrow company to have specific licenses to handle transactions for residents and businesses. The state of California has been known to send cease and desist orders to improperly or unlicensed escrow companies doing business in the state. These licensing requirements have been put in place to protect the public. The licenses are not easy to get and there is also significant cost associated with the process. They come with mandatory responsibilities which can include specific bonding requirements and yearly audits (done at the expense of the escrow company). Escrow is all about following the rules and regulations.
BTW – GBP coming soon.
Tony says
I found your response a bit confusing. Are you suggesting that legal recourse with your company would be handled in New Zealand, while initial recourse efforts via ‘communications’ would take place with your offices in California?
Tony says
I found your response a bit confusing. Are you suggesting that legal recourse with your company would be handled in New Zealand, while initial recourse efforts via ‘communications’ would take place with your offices in California?
Andee Hill says
Hi Tony,
As with most online escrow companies, communications regarding a transaction are handled by customer service. Legal issues with a transaction would be handled through the arbitration process which does not vary much regardless of the escrow company’s location.
Please feel free to contact me directly with any specific questions or scenarios.
Andee
Tony says
Hello Andee,
I’ve been chewing on the potential challenges of hiring an offshore escrow provider such as yours, and which, as far as I can discern, is not licensed in California.
The sole function of performing an escrow transaction is to manage risk. With all do respect, doing business other than with a California-licensed escrow provider would likely compound my risk, even with the best intentions of both parties.
With this said, I’m interested in obtaining the best service at the lowest expense. I’m willing to listen to anyone who can explain why I may be off-base.
Tony
Brandon Abbey says
Tony,
Just to be clear, Escrow.com has many additional licenses besides our California license, as required by law. With California everyone of our employees has been fingerprinted and background checked by the Department of Business Oversight. With the other licenses only the officers of the company have to go through the process. This is all done to protect your interests, it is not easy or inexpensive following the requirements of being an online escrow company. We have successfully managed the risk of over $2 billion worth of transactions. I suspect some of that was done on your behalf, if so, thank you for your business and your trust.
Brandon