BrandBucket Experience

[xtremex]

hello

I am new to BrandBucket. Before getting my hands on this

I wish to experience about brandbucket from my fellow members


Thanks

 

[disaac81]

BB are losing many sellers.

The lack of being able to, for example, list names with them AND at Afternic is a drawback.

BB also lost sellers due to rejecting good names while they accepted crap from others. Sometimes if feels like they need a refresh course on brand naming.

Just my opinion.

 

[JimJammy]

Margot has just confirmed in Slack that there is a glitch with the scoring system and they are looking into it.

 

[Justin Matmor]

BB are losing many sellers.

Fantastic news. Hope more disgrunted sellers go elsewhere. Less competition for me.

 

[disaac81]

Typical self-serving attitude @Justin Matmor

 

[Dnbolt]

Fantastic news. Hope more disgrunted sellers go elsewhere. Less competition for me.

You fo real?

 

[JimJammy]

Update in the dashboard:

Here’s answers to common questions about what these metrics mean, and how you can improve your scores.

Q:I’ve heard about accounts needing to be in “Good Standing” to have access to certain benefits and features. What does that mean?
A:Our active and committed sellers do two things successfully: 1) publish their domains that are submitted and approved, and 2) keep their domains at BrandBucket. The last two circles on the dashboard reflect these statistics. You need to have an A or B score in BOTH of these circles to be in “Good Standing”.

Q:What benefits do I get for being in “Good Standing”?
A:You can join our private chat community on Slack, and you can trade domains (buy and sell) with other sellers on the BrandBucket platform. More perks and benefits are planned for the future.

Q:Why should I publish the names that I submit?
A:Reviewing and pricing your submissions takes a lot of resources, and we are providing this as a service at no charge to you. We appreciate when you complete the listing process.

Q:What if I don’t agree with the price that was suggested for my submitted name?
A:Contact us and we can discuss your expectations.

Q:I submitted a name by accident (it was a typo or I thought I owned it but didn’t), and it is affecting my “Moved Forward” score. What can I do?
A:Contact us and we can delete it from your account.

Q:Why am I being penalized for removing my names?
A:You are not being penalized, but instead we are rewarding our active and committed sellers. We want you to keep your domains on BrandBucket as long as possible—patience is key when selling brandable names.

Q:I chose not to renew some of my names. Are these counted as removals?
A:No. If there are names in the “Removed” status that you let drop, contact us and we’ll make sure they are accounted for correctly.

 

[DnFolk]

A:You can join our private chat community on Slack, and you can trade domains (buy and sell) with other sellers on the BrandBucket platform. More perks and benefits are planned for the future.

Interesting

 

[gblasting]

Maybe one of the ambassadors can help with this one.

Why does BB escrow take 5 days or more to close?

According to BB:

Your payment for this order will be ready for processing either at the close of escrow or 5 business days after the sale, whichever comes last.

This is how long their current sales process takes (and my opinion in parenthesis):

3 days wait to secure the funds (Necessary)

1 day wait for them to obtain transfer instruction from buyer (This could be done while securing the funds)

5 days or more wait for escrow to complete (My domain has been transferred to BB and then to the buyer in less than 3 hours. Is BB waiting 5 days for the buyer to finish inspecting the 'merchandise'? What if a BB buyer goes on vacation immediately after purchase and was not available to receive the domain from BB escrow? We'll be talking waiting period in months. I remember XND.com staying in Sedo escrow for 6+ years. Sedo processes your payment immediately after the domain hits their escrow account. Escrow.com pays you at the end of the inspection period, which is customarily 1 day for domain names. Why does BB need 5 days after buyer has paid and received the name?)

X days wait for payment to be processed (The last time I sold a name, it took around 7 days to process payment because they only pay using Payoneer at specific days of the month. This was long ago in February 2015 and I don't know how long the process takes now.)

Minimum total waiting days - 12

 

[Johnywang]

When will brandbucket bring back the sold domains section or a "sold label" on domains that sold?

 

[fuzzy]

On my BB dashboard, I have a score of 'F' on one metric.
I guess that is because, of the 12 names I have submitted to BB, the only domain that was ever 'accepted' turned out to be a typo of the actual domain I had intended to submit.
On the plus side, it seems my $0 average sale price is higher than 2% of BB members!

 

[fuzzy]

Has BB changed its main UI recently? If so, I'm having trouble navigating it. How does one submit names these days?

 

[Keith DeBoer]

On my BB dashboard, I have a score of 'F' on one metric.
I guess that is because, of the 12 names I have submitted to BB, the only domain that was ever 'accepted' turned out to be a typo of the actual domain I had intended to submit.
On the plus side, it seems my $0 average sale price is higher than 2% of BB members!

Hi Fuzzy,
Your score for domains accepted and published will have a negative reading until you have a mininum number of domains published on the site. Meanwhile don't take the F personally because you and I know you are a winner!

 

[Keith DeBoer]

Has BB changed its main UI recently? If so, I'm having trouble navigating it. How does one submit names these days?
Show attachment 42504

Hey again Fuzzy,
Yes BB has just upgraded its backend for sellers. If you click on DOMAINS you will see that you can now sort your porfolio by name, status, date, price and more! This is in response to requests by sellers to have increased ease of access and search for their submitted, accepted and published names.

Send me a PM if you need any further help and welcome to BB!

 

[Keith DeBoer]

When will brandbucket bring back the sold domains section or a "sold label" on domains that sold?

Hey Johnywang and good question. This has been a repeated request from BB sellers. BB used to list sold domains but then received complaints from their customers, our customers, many of whom are venture capital firms and incubators that buy repeatedly. BB hasn't yet figured out a way to satisfy this request from sellers while simultaneously honoring its/our customers.

However, many BB sellers do list their individual sales on this thread and others at NamePros as well as on the Domain Sales thread at BB's private Slack channel which is available to all experienced BB sellers in good standing.

 

[Keith DeBoer]

Maybe one of the ambassadors can help with this one.

Why does BB escrow take 5 days or more to close?

According to BB:


This is how long their current sales process takes (and my opinion in parenthesis):

3 days wait to secure the funds (Necessary)

1 day wait for them to obtain transfer instruction from buyer (This could be done while securing the funds)

5 days or more wait for escrow to complete (My domain has been transferred to BB and then to the buyer in less than 3 hours. Is BB waiting 5 days for the buyer to finish inspecting the 'merchandise'? What if a BB buyer goes on vacation immediately after purchase and was not available to receive the domain from BB escrow? We'll be talking waiting period in months. I remember XND.com staying in Sedo escrow for 6+ years. Sedo processes your payment immediately after the domain hits their escrow account. Escrow.com pays you at the end of the inspection period, which is customarily 1 day for domain names. Why does BB need 5 days after buyer has paid and received the name?)

X days wait for payment to be processed (The last time I sold a name, it took around 7 days to process payment because they only pay using Payoneer at specific days of the month. This was long ago in February 2015 and I don't know how long the process takes now.)

Minimum total waiting days - 12

Hey gblasting. Good question. I don't know the exact details of BBs back end but.... a sale basically has two phases.

One, payment is received, verified and the domain is successfully transferred to the buyer. This process can take a few days or several days depending on the speed at which the buyer, the seller and the registrar(s) respond and accomplish their various duties. It's a complex coordination of several parties and can take a few days or a week.

Second phase is escrow. I asked BB's founder Margot about this and she said it takes 5 business days for the bank to release the funds even when they are paid by credit card.

I am very quick in responding when I get a sale notice from BB and I attend to any requests from them within an hour of notification. As a result almost all my sales have completed in 6 to 8 days. However, I have heard from other sellers saying it sometimes has taken 10-12 days to get funds.

I hope that's helpful info. Have a great weekend!

Keith

 

[Arca]

Has there been any seller's newsletter in October or November?

 

[Candace]

Has there been any seller's newsletter in October or November?

MK said that the October newsletter should be out soon. Actually I think he said this past week, but didn't see it.

Looks like the newsletters are a little sporadic.

 

[gblasting]

Hey gblasting. Good question. I don't know the exact details of BBs back end but.... a sale basically has two phases.

One, payment is received, verified and the domain is successfully transferred to the buyer. This process can take a few days or several days depending on the speed at which the buyer, the seller and the registrar(s) respond and accomplish their various duties. It's a complex coordination of several parties and can take a few days or a week.

Second phase is escrow. I asked BB's founder Margot about this and she said it takes 5 business days for the bank to release the funds even when they are paid by credit card.

I am very quick in responding when I get a sale notice from BB and I attend to any requests from them within an hour of notification. As a result almost all my sales have completed in 6 to 8 days. However, I have heard from other sellers saying it sometimes has taken 10-12 days to get funds.

I hope that's helpful info. Have a great weekend!

Keith

Thanks Keith. From what Margot told you, I believe the process can still be improved.

From the time the buyer pays (when a "sold" banner is placed on the name in your account) to the time you are notified via mail takes 3 days. Then one more day to receive transfer instructions from the buyer. Going by what Margot told you, by the time you are being asked to transfer the name, the fund need only 1 more day to clear bank. However, BB starts counting a fresh 5 days from this day for its escrow to close, even when the buyer has received the name on the date you were asked to transfer it.

On the plus side, it appears the payment portal has been integrated with their payment processors. I was paid immediately after requesting. This is a great improvement over what used to be.

 

[Keith DeBoer]

Thanks Keith. From what Margot told you, I believe the process can still be improved.

From the time the buyer pays (when a "sold" banner is placed on the name in your account) to the time you are notified via mail takes 3 days. Then one more day to receive transfer instructions from the buyer. Going by what Margot told you, by the time you are being asked to transfer the name, the fund need only 1 more day to clear bank. However, BB starts counting a fresh 5 days from this day for its escrow to close, even when the buyer has received the name on the date you were asked to transfer it.

On the plus side, it appears the payment portal has been integrated with their payment processors. I was paid immediately after requesting. This is a great improvement over what used to be.

Yea, good point. It seems the escrow doesn't start until the domain is transferred even though payment was received a day or two or three before that. Not sure why that is, so I'll ask. Glad to hear the experience with processing of the payment-to-seller (after escrow) has improved.

 

[Johnywang]

Hey Johnywang and good question. This has been a repeated request from BB sellers. BB used to list sold domains but then received complaints from their customers, our customers, many of whom are venture capital firms and incubators that buy repeatedly. BB hasn't yet figured out a way to satisfy this request from sellers while simultaneously honoring its/our customers.

However, many BB sellers do list their individual sales on this thread and others at NamePros as well as on the Domain Sales thread at BB's private Slack channel which is available to all experienced BB sellers in good standing.

How do I then become a member of BB slack channel?? As a new seller I feel a bit discriminated that unless I sale a domain I won't become a member of the inner group called "BB slack channel" this is so unfair almost like mlm marketing that unless I sale I won't unlock access to resources or becoming someone important. I also read where a user shared BB newsletter on the slack channel instead of sharing in this forum that we all use.

As a newbie how do you expect us to learn? I have read the post on this thread where few BB sellers advised us against using dnbolt data. I have also read where people argue about the level of it's accuracy. More like a controversy. And BB just sits there and look at us?

 

[Candace]

How do I then become a member of BB slack channel?? As a new seller I feel a bit discriminated that unless I sale a domain I won't become a member of the inner group called "BB slack channel" this is so unfair almost like mlm marketing that unless I sale I won't unlock access to resources or becoming someone important. I also read where a user shared BB newsletter on the slack channel instead of sharing in this forum that we all use.

As a newbie how do you expect us to learn? I have read the post on this thread where few BB sellers advised us against using dnbolt data. I have also read where people argue about the level of it's accuracy. More like a controversy. And BB just sits there and look at us?

Johny,

1. You do not need to sell domains to be a part of the slack channel. Look to the right side of your BB Dashboard and see if you see a link. If you don't have the link, then publish some of your accepted names, or buy some accepted or published names on the aftermarket. Thereafter, the link should appear.

2. Everyone (or almost everyone) uses DNBolt, whether they admit it or not

3. The newsletter is shared with all sellers by email

4. Most of the learning you do would be on your own, although here is a good place to learn. Don't be afraid to PM some people - those who welcome it. Also, remember that there is a learning curve, so patience is necessary

 

[JimJammy]

You don't need to sell a domain to become a member of the Slack channel.

You need to submit names, and if any are approved, publish them. Then you get an invite in your back office (on the right hand side under 'domains').

Edited to add: Candace you just pipped me to the post

 

[decode]

I have had some excellent names published on BB with no sales.
Some outstanding names were rejected and then I see crap ones
on here for resale that were accepted.
It is their market so they can feel free to accept or reject for whatever reason they want.

One thing, over the past 2 months there has been a huge drop in the resale interest of BB published names so the liquid wholesale value is way down from what I have seen.

This must mean that sell through rates are down. The people buying resales bb names at wholesale to get to scale so they can sell through and make a profit would still be buying any BB names for a reasonable wholesale price if it was working for them.

This is just what I have seen so feel free to let me know how it is going.

 

[JimJammy]

Everyone thinks their own names are excellent and other peoples names are crap.

It's their market, they know their purchasers, they accept what they think is a good fit for their marketplace. That doesn't make your rejects worthless, just not a good fit for BrandBucket.

There has been many registrar promos that have prompted mass buying of domains for $1+, many of these names are now for sale on the BB reseller market. Buy at $1 and sell at $10 is a good profit for those that like to play this game.

 

[Keith DeBoer]

How do I then become a member of BB slack channel?? As a new seller I feel a bit discriminated that unless I sale a domain I won't become a member of the inner group called "BB slack channel" this is so unfair almost like mlm marketing that unless I sale I won't unlock access to resources or becoming someone important. I also read where a user shared BB newsletter on the slack channel instead of sharing in this forum that we all use.

As a newbie how do you expect us to learn? I have read the post on this thread where few BB sellers advised us against using dnbolt data. I have also read where people argue about the level of it's accuracy. More like a controversy. And BB just sits there and look at us?

Hi Johny,
Thanks for the candid remarks and feedback.
I sent you a PM.
Let me know how I can help.
Have a great weekend!
Keith