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Epik Marketplace Commissions / Fees Knowledge Thread

Located in Domain Marketplace Reviews started by creataweb, Nov 30, 2018.

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  1. creataweb

    creataweb Top Member VIP ★★★★★★★★★★

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    Epik Marketplace Commissions / Fees Knowledge Thread

    I wanted to make a thread for Epik's Marketplace as I believe more and more of us will be using it for sales and listings.

    In this thread I want to have the most up to date info about commissions and fees as they may change from time to time.

    My experience so far was great with Epik MP. I had an inquiry from Afternic about 8 or 9 months ago and priced the domain accordingly. Not knowing much else I waited and around 2 weeks later I believe it was I received an email from Epik saying that my domain had sold and I was paid the full amount (no fees so far.) I can only assume the inquiry came thru Epik and since the domain was listed with Afternic it was priced there then sold at Epik thru a partnership and Epik might have added a fee on top to get their cut and possibly Afternic got one too (anyone feel free to correct me if I'm mistaken here with this scenario.)

    This was my first sale with an Epik related MP purchase and I decided to request a check to be mailed because of PayPal payout limitations for my account. I believe it was minus 5% commission for cashout which is fairly low and fair overall.

    Recently I sold a domain from auction here and used Epik's MP to finish the deal. I setup a private link so that it could not be purchased by someone else before the buyer got a chance. I was charged a 9% fee for that sale. I am not sure if that's a new fee or normal fee. I was slightly confused and asked another member about their experience via message.

    So what I have figured out so far is this:

    Sell via Private Link = Escrow @ 9% commission fee (but 0% cashout fee)
    Sell via Marketplace = No Fees? Or only a cashout fee?
    Selling via Afternic = No Fee initially but 5% cashout fee (my experience)

    I'll tag @Epik.com @Rob Monster @[email protected] for clarification / corrections as I'm sure some are not right or have changed.

    By the way, these 2 transactions so far were pretty much the most hassle-free I've had anywhere. The money was instantly in my account, fastest of any place I've used.
     
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  2. Windoms

    Windoms Established Member

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    Also @Rob Monster , does Epik offer Sedo MLS and Afternic DLS.
    ''DLS MLS'' I'm quoting people, so to clarify.
    Afternic Fast transfer. Sedo ''Fast transfer''.
    Meaning when it sells through either network, it transfers automatically.
    Does it have both? There's many opinions online.
     
  3. alcy

    alcy Active Member VIP

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    i think Rob said that for np members if you tell him, then they will wave the 5% cashout fee? I know I paid it on the couple sales I had through epik over last couple years.. but I guess I didn't tell them I was np member.. or maybe its just a bonus they implemented recently @Rob Monster ?

    I admit epik fees are somewht confusing.. at least to me..

    like is there concierge fee for using their escrow? what if I handle it? is it free then like it was before or there is fees now?

    I also read somewhere you charge now since recently for all marketplace sales on epik.. thats aside from the cashout fee.. true?
     
    Last edited: Nov 30, 2018
  4. Mister Funsky

    Mister Funsky Active Member VIP

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    There used to be no charge (commission) to sell using the Epik marketplace but now there is.

    Once you begin to set pricing on a domain, you will see the fees posted: 9% for an outright sale and 5% for a rental and purchase plan. I assume the 5% will apply to lease payments as well.
     
  5. Hypersot

    Hypersot Active Member VIP

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    It's 9% sale commission plus 5% if the seller wants to withdraw the money from their Epik account (ie, a total of around 13.55% commission)

    The 9% commission is valid only if the money stay in the seller's account.
     
  6. creataweb

    creataweb Top Member VIP ★★★★★★★★★★

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    Yep one of the reasons I created the thread was because I wanted to be clear about any and all fees so I can price accordingly. The other is because Epik is going to be my main registrar.
     
  7. Rob Monster

    Rob Monster CEO, Epik Epik.com Staff PRO Gold Account VIP

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    Yes, we have MLS integrations for both Afternic and Sedo, including fast-transfer and make-offer. These MLS integrations are prone to fraud so the fastest close is to sell natively on Epik but MLS is supported.
     
  8. Rob Monster

    Rob Monster CEO, Epik Epik.com Staff PRO Gold Account VIP

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    For NamePros users, there is no cash-out fee. There is only the commission for sale or lease. For large transactions where the buyer is know, best to use our escrow service which is as low as 1.5%.
     
  9. Rob Monster

    Rob Monster CEO, Epik Epik.com Staff PRO Gold Account VIP

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    To the extent that there is confusion it is mainly because NamePros members are treated in a special class with the lowest pricing and the best terms. We are working with NamePros management to make it easier for new NamePros users to claim these benefits. For now, if you are a NamePros user and don't have NamePros pricing, just PM us and we'll make sure your account is upgraded.
     
  10. Hypersot

    Hypersot Active Member VIP

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    Rob,
    we chatted regarding that matter, not so long ago, and you mentioned the 9%+5% despite letting you know that I'm a NP user.

    So, just to make things clear here:
    if I try to redeem my masterbucks funds will there or not be a 5% commission on that?

    thanks
     
  11. Rob Monster

    Rob Monster CEO, Epik Epik.com Staff PRO Gold Account VIP

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    Correct, no additional commission at redemption. Just a potential tax impact but no commission.
     
  12. Mister Funsky

    Mister Funsky Active Member VIP

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    Greetings Rob,

    It is awesome to be able to offer sale, finance or lease options on names. But I wonder if the option to have all three, side by side, on the sale landing page could be available soon with a separate 'make offer' box as well.

    Unless I am wrong, you can have a 'buy it now' price option and a payment plan option (for purchase with or without interest) but when doing that, the lease option is overridden.

    What I am asking is it possible now, or in the near future, to have separate 'boxes' in the options area to the right of the domain name to have 1) fixed sale price, 2) payments with option to own, 3) fixed monthly lease, 4) make an offer button.

    If space is an issue, the separate 'make offer button' would be the one I would choose to leave as is.
     
  13. Rob Monster

    Rob Monster CEO, Epik Epik.com Staff PRO Gold Account VIP

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    Right now it is possible to combine:

    1. Buy Now

    2. Financing or Leasing scenario

    3. Make Offer

    4. Contact button

    You can do that all in one single listing with customized text and graphics for your parking lander.

    If you need something more, PM us and @Slanted (aka Joseph Peterson, Director of Operations) or I will take a look.

    I am generally a fan of just using Make Offer and Contact in order to have the chance to size up the buyer before presenting the price scenarios. However, for each his own!
     
  14. Mister Funsky

    Mister Funsky Active Member VIP

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    Thanks for the response and I am starting to come around to your way of thinking...extra info from a prospective buyer can be harvested from an email exchange or call that may help with the sales pitch.
     
  15. creataweb

    creataweb Top Member VIP ★★★★★★★★★★

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    I was still working on clarification around the time this thread was created because I emailed support and got 2 different responders (and 3 responses in total) in regards to the 1st post above with various scenarios.

    The last one said:

    "I'm not aware of any promise to waive cashout fees for NamePros users."

    Which is the opposite of what I believe @Rob Monster stated somewhere here on the forum recently in a few other threads as well. If the cashout fees are still waived someone might want to let the staff know too :)
     
  16. Rob Monster

    Rob Monster CEO, Epik Epik.com Staff PRO Gold Account VIP

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    Redemption fees are waived for NamePros threads. We do a weekly all-hands meeting on Mondays. I was hoping to have a formal deal with NamePros so that we can streamline/automate this process of giving this out as a NamePros member benefit. NP is unwilling to cooperate there. Pretty silly. Please lobby them.
     
  17. creataweb

    creataweb Top Member VIP ★★★★★★★★★★

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    Any reply to this @Eric Lyon @Support Team ?
     

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