discuss Reputation and Trust's impact on sales

DAN.COM said:

The model we're working hard to make the norm in the industry is a model where no negotiation is required anymore. Our new lease to own model doubles down on that notion.

When you have set a BIN price of $2000 for example and offer a payment plan of just $20 a month - almost any potential end-user can all of sudden afford the price that you have set. Sellers are more competent as well to price domains than end-users which just want a domain that matches their branding for as little expenses as possible.

Your BIN price then is validated and the buyer will have all information at his or her disposal to instantly transact with you.

However, when you offer the option to make an offer next to a BIN listing - you already give the buyer a so-called escape to try to negotiate a better deal which always introduces friction and friction results in fewer sales.

The "contact seller" option is even worse for conversions because you do not portray a definitive and final proposal to the buyer but again provide an escape to negotiate.

The vast majority of our most successful sellers all are following the same selling method as mentioned by us above (BIN + installments).

Everything stated above is 100% backed by our marketplace data as we do not leave anything up to chance. Some might not agree with us but we base our decisions on data and not gut feelings.

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Illuminated said:

Actually I have a question for you Abdul...

You have your portfolio listed on your own private website, as well as on various marketplaces. With the domains not being directed directly to your private site do you still get the occasional sale there?

If so - in those cases do you think it is just someone browsing your site and they see a domain they like?

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AbdulBasit.com said:

Are you referring to DomainsWeb.com and/or AbdulBasit.com?

If yes, I rarely get any inquiry via both sites and have never sold through them. But yes, building those sites especially AbdulBasit.com have given lot of authority and trust among the endusers who many times have transferred the domain at first before I've sent them funds when both parties are happy not to use any escrow service.

Although domain haven't sold directly via those sites but the trust and built good relationships I've got matters the most to me.

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Windoms said:

Now if the seller is known, clear contact, clear public profile, real, well known professional dealing with domain name, clear background, we also have trust.

Such a seller has a huge advantage over one that doesn't have reputation.

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Windoms said:

For domains up to 5k you can be OK but if you are serious about domain investing, trust and effective buyer engagement becomes a huge +.

Negotiating and making a deal with a real professional is very different from talking to a ghost on the internet, especially when you have no idea what the domain market is.
A 20k counter offer from a silent ghost is basically a joke.

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Windoms said:

Hello,
On known marketplaces such as @DAN.COM , we could have a feature where one could basically assign all the domains in his/her account to a seller and let them negotiate all leads on his/her behalf in exchange for a commission, for example 10%.
Remember, it's only about replying to a message or talking over on the phone to qualified leads. Nothing else. None of all the work involved in brokerage finding executives, contacting multiple people, following up with everyone, etc..
@DAN.COM that will make it easier for us all.

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Windoms said:

On known marketplaces such as @DAN.COM , we could have a feature where one could basically assign all the domains in his/her account to a seller and let them negotiate all leads on his/her behalf in exchange for a commission, for example 10%.

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Windoms said:

@uglydork has pacemakers.com, he's been trying to sell it.
Maybe someone, somewhere, because of his connections or environment, has a chance of selling it.

If that someone is not a broker, is not interested in brokerage, and has a very easy way of hopping onto that domain and selling it; that person is going to think about it, and eventually do it. It makes things a billion times easier than having to manually contact the owner, talk for a while, negotiate a fee, etc.. etc.. those are deterrents.

We need a collaborative space that'll make things easier for everyone.

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nothere said:

If a well known marketplace hired John, Bob, Harvey and dozens of their friends from the "Internets" to lower your broker price, that marketplace would suffer a huge reputational decline. As a broker you are dealing with real money. If I'm dealing with a random individual, the thought that he will back out or try to cheat me is priced in, and I act accordingly. But if a broker hired by, say, DAN, makes mistakes or tries to back out of the deal, the marketplace or company will suffer. They can only survive x number of such bad things, word spreads.

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nothere said:

If you have a great name, the name will do 99% of the selling.

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equity78 said:

Brokerage should be interesting. Hopefully that becomes a solid division for DAN.

8) Can you talk about any upgrades, changes or new features DAN will be rolling out soon?

Reza) There’s so much going on:

1: we’re setting up a brokerage division to provide integrated buyer/seller brokerage support.

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