NameSilo

Can we sort out the appraisal section?

Labeled as status-monitor in NamePros Help and Feedback, started by NickB, Aug 24, 2020

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  1. NickB

    NickB Wales.org VIP

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    I think there is an issue with the appraisal section that needs looking at.....

    When giving appraisals can we have a rule that stops people just quoting a figure with no explanation on how they came up with it?

    A lot of people that use the appraisal section are new to the industry (I used it a lot when I first started) and I for one still go there to read and try to learn about how to price domains...

    When I see what look like random figures being given as an appraisal it really jars with me. In some cases they seem wildly optimistic, in others they are downright misleading. This can lead to false hope, people registering more domains of a similar ilk which can lead to people spending a lot of money based on a figure someone seemingly has plucked from the air with absolutely no context on why they arrived at that appraisal amount.

    Seems wrong to me......

    Namepros has the below rule in place already......I would like to see this updated to include all appraisals

    5.1. All appraisals below $10 USD must include a unique and constructive explanation to support the assessment.

    Would like to see peoples opinion on expanding the above to include ALL appraisals

    Any feedback from the community and Mods would be appreciated......
     
    The views expressed on this page by users and staff are their own, not those of NamePros.
  2. Bravo Mod Team

    Bravo Mod Team Moderator, NamePros Moderator PRO VIP Gold Account

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    Agreed that it would be more beneficial to have explanations with appraisals.

    However, we'd likely need to come up with a way to reward members who take the time to provide free detailed appraisals. Otherwise, if everything else is kept the same and we only increase the required time commitment to contribute, then less will contribute.

    What would motivate members to provide detailed appraisals rather than only a dollar amount?

    Any ideas?
     
  3. bmugford

    bmugford www.DataCube.com PRO VIP ICA Member ★★★★★★★★★★

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    I have noticed this issue a lot lately. Certain users just quote some random number, that is often far out of line with market value, and with no thought process behind it.

    If anything quoting high prices for bad domains is even more damaging to new investors that just saying "reg fee" or whatever with no explanation.

    Brad
     
    Last edited: Aug 25, 2020
  4. bmugford

    bmugford www.DataCube.com PRO VIP ICA Member ★★★★★★★★★★

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    It does seem odd that you need an extra explanation to explain a value below $10. You think it is a bad domain. That is pretty self evident by the appraisal amount.

    You can however throw out any absurdly high valuation with no explanation, and people do. That doesn't really make sense.

    Let's be honest the vast majority of domains in the appraisal section are bad. It is kind of an undue burden for someone to have to explain why a domain is bad and not have to explain why it is good.

    I could say $0. Now I need an explanation to justify it.
    I could say $10,000. No explanation needed and I have given false hope to some new investor.

    Brad
     
    Last edited: Aug 25, 2020
  5. johname

    johname Planet Futbol VIP ★★★★★★★★★★

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    The theory offered at the time from the np person putting forth the new rule, was all domains were worth regfee. So a domain cant be worth less than $10 unless there was a darn good reason. If there is a darn good reason, then explain at length.
     
  6. bmugford

    bmugford www.DataCube.com PRO VIP ICA Member ★★★★★★★★★★

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    Yeah, I personally think that line of reasoning is flawed. Just because something exists doesn't mean it has value or anyone else would want to buy it.

    You could use the same logic and say everything is reg fee by default then. If you are saying it is worth more than that you need to justify why.

    Brad
     
    Last edited: Aug 25, 2020
  7. bmugford

    bmugford www.DataCube.com PRO VIP ICA Member ★★★★★★★★★★

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    I don't really want to pick on anyone, but this is the type of issue I have been seeing lately -

    https://www.namepros.com/threads/beeowner-com.1202958/

    New user. Some random inflated number for a pretty marginal domain with no explanation.
    False hope given. No one wins.

    In the same case if I put $0, now the burden is on me to establish why. Someone can put $1,500 with no explanation. How does that make sense?

    Brad
     
    Last edited: Aug 25, 2020
  8. NickB

    NickB Wales.org VIP

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    This is why I started this thread......they are replying to a lot of appraisals in this manner
     
  9. NickB

    NickB Wales.org VIP

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    I was thinking more along the lines of discouraging bad appraisals rather than rewarding good ones.....

    A brief explanation should not take to much time, if you were to add similar sales, some developed sites with similar keywords used, how many domains are regged with those keywords, search volume etc etc it might take a little longer but should not be to overbearing.

    If someone takes the time to draw up a explanation on value (or lack of) then a simple "thanks" should suffice imo

    Appeal to people's altruistic nature and see how it goes :xf.wink:
     
  10. bmugford

    bmugford www.DataCube.com PRO VIP ICA Member ★★★★★★★★★★

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    The section as it exists now is kind of like the blind leading the blind. It gives false hope and really doesn't teach a new domainer much.

    There also seems to be a strain of butt-hurt in some threads where some are offended that people take their time, for free, and refuse to heap positive affirmations on a bad domain.

    Brad
     
    Last edited: Aug 25, 2020
  11. lock

    lock DomainUsed.com VIP

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    There aren't too many members even prepared to give an opinion as nobody is offering their best names for appraisal as they already indicate value but their uncertainties but rather than give a negative many will not comment which often only inflates any false hope. The best thing is to make them anon or to some ranking system.
     
  12. NickB

    NickB Wales.org VIP

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    It can be a very valuable resource for people who are starting out and might not have acquired any decent names , I mean if you are really willing to learn and can handle receiving constructive negative feedback then it should help you improve.

    There is no hope or help for people who refuse to read/listen to logic and get aggressive/defensive about their domains and these sorts do not seem to last the course anyway.....

    No need for it to be anonymous imo just tighten up the rules so people can't just post random figures that give people that false hope.....
     
    Last edited: Aug 26, 2020
  13. lock

    lock DomainUsed.com VIP

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    I
    Some are here off the back of an appraisal scam and are defensive about their NP appraisal or just think they fell over a gold nugget in 2020. Members should participate more in appraisals as it even helps influence the most stubborn thinkers over time with majority opinions and results.
     
  14. bmugford

    bmugford www.DataCube.com PRO VIP ICA Member ★★★★★★★★★★

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    Last edited: Aug 29, 2020
  15. NickB

    NickB Wales.org VIP

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  16. bmugford

    bmugford www.DataCube.com PRO VIP ICA Member ★★★★★★★★★★

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    Last edited: Aug 31, 2020
  17. equity78

    equity78 Top Member TheDomains Staff TLDInvestors.com PRO VIP ★★★★★★★★★★

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    Do the blind want to be led by the blind? Sometimes I think it's the preferred mechanism.

    In all honesty most don't want an appraisal they want validation.
     
  18. NickB

    NickB Wales.org VIP

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    @Mod Team Bravo any updates? Or is there is going to be a continued acceptance that people can keep posting random figures in the appraisal section without providing a reason.....
     
  19. Bravo Mod Team

    Bravo Mod Team Moderator, NamePros Moderator PRO VIP Gold Account

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    Hello,

    We understand there is room for improvement, and we're monitoring your feedback.

    Honestly, our plate is quite full at the moment and we haven't had a chance to fully explore alternatives.

    It's on our to-do list.
     
  20. Mister Funsky

    Mister Funsky Top Contributor VIP

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    I scanned the thread so someone above may have mentioned some of what I'm about to suggest.

    Maybe have a template in place for those wishing to give some type of appraisal with multiple choices. Maybe $20 and under, 20-50, 50-100, 100-250, 250-500, 500-1000 and then custom value.

    Also have a way to indicate what level that number is for: liquidate, wholesale, reseller, full retail, etc.

    Possibly have another section for things such as: grace delete, hold and try to sell for 1 year only, hold for 3 years max or long term hold, etc.

    The same thing applies to reasons. misspelled name, doesn't pass radio test, possible trademark violation, declining extension, etc.

    It is to our benefit to help newbies know if they are on the right track or not. A long term investor buying well will cause names of better caliber to increase in value regardless of the owner. It does no one any good to have someone enthusiastic and just getting started hand regging lots of names that will never sell.

    A template system might make more seasoned domainers offer some type of pricing estimate if it is easy for them to select pre-made options in response to a request.
     
  21. bmugford

    bmugford www.DataCube.com PRO VIP ICA Member ★★★★★★★★★★

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    NamePros really needs to do something about the user jim h.

    They just pop into appraisal threads, throw out some inflated number with no justification, then leave. Over and over. It is a problem.

    Brad
     
    Last edited: Sep 11, 2020
  22. korganian

    korganian Top Contributor VIP ★★★★★★★★★★

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    I think either an anonamous poll to shield members from irate domain owners.

    OR

    The ability to click on a button on only the names that we like and then indicate the value of those names. I think any valuation of $1,000 or more should also have a place to explain the valuation.
    There could also be a button for "none" to politely indicate that we don't see value in any of the names listed.
     
  23. Samer

    Samer Top Contributor VIP

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    Best appraisals featured @James Iles’ posts.

    (Just kidding about that, James, carry on)

    Would like way to (further) reward good ones more than “likes”; This can include a weekly Namepros’ post, highlight the best appraisals’.

    Maybe count # users’ who win; best detailed appraisal as you quote unquote say
    Since i’m sure there will be dynasties users.

    Somewhat related;Didnt kno where else put
    There is an infamous user putting random —often optimistic appraisal wit no explanation.
    I usually give appraisals longest leash;
    since all voluntary & not all are taken well!

    But this particular user is making it excessive.
    Let apprais thread die (only good 1 get replies)
    Stop encouraging mindless — often baseless appraisals without an explanation; regardless $

    Thank you @Mod Team Bravo

    Samer
     
    Last edited: Sep 12, 2020
  24. Bravo Mod Team

    Bravo Mod Team Moderator, NamePros Moderator PRO VIP Gold Account

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    Let's say we require explanations.

    Where do we draw the line between a well-researched answer that could take hours versus a simple "because I like it and think someone would pay that much"?

    If every appraisal comes with an explanation, then more appraisal threads will turn into discussions (or arguments) about those explanations. Is that a desired effect?

    Please share your thoughts.
     
  25. bmugford

    bmugford www.DataCube.com PRO VIP ICA Member ★★★★★★★★★★

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    I think if you are required to leave an explanation if you say less than reg fee, it is more than reasonable to have to leave one if you say over reg fee.

    That one guy pops into almost every thread, leaves some random number that is usually grossly inflated. This is actively damaging by giving false hope to many new investors.

    This could be like a one line explanation. It doesn't have to be a novel.

    Some examples -

    "Reg Fee. The domain is an odd tense and I can't imagine an end user wanting it."

    "$2,500. The domain appears to have several end users in a competitive field."


    The bottom line is any number, without some explanation, is worthless.

    Brad
     
    Last edited: Sep 12, 2020

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