It always perplexes me to read comments like these from Pros. What I find most of the time is they've never even run 10 results through the tool.
Okay lets take a REAL look...
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NOT. EVEN. IN. THE. SAME. GALAXY.
Keep in mind, NameWorth has
no knowledge of actual sales prices beyond general parameters that I've set.
Here's my favorite one. I came across this today because I'm brokering Stable(dot)com, and someone writes me saying it should be priced at $50,000 because that's what Think.com sold for last year. I was thinking "there's no way that think.com sold for that amount", so I looked and sure enough...it did not.
But what did sell at $50,000 was thiink.com with 2 "i"s. What was even more interesting were the comments about this sale, many times from industry experts. No one knew how it could sell for that much apparently, but if you look at the detailed NameWorth results, it's pretty obvious.
Let me just summarize by saying, if you have a domain that is registered in 31 extensions, with 91 similarly named domains taken, and 8 active websites including some that are legitimate businesses...please don't sell it for only $5,000. Regardless of what you or I personally think of the name, you have to look at the data, because others out there th
iink the complete opposite.
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Once I pointed out the error, I jokingly offered the prospect the equivalent "stablle.com" with 2Ls for a huge discount at $10,000. But we all should know stablle.com is not worth hardly anything.
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If I were to get the smallest sliver of support from half the people at the top of the industry, the tool would have an unreal amount of accuracy and detail. But instead of support & comradery for collaborative ideas, there is often a negative vibe, or even statements that negate the use of any kind of valuation tools in general. I can tell you that the majority of the time, people making these blanket statements about the tool not working, have never even logged in, and if they have, they definitely haven't tried it in the last few months. Do you know how many times these professionals have emailed me about a specific problem with the results? Zero.
Why tear down something another industry peer is creating when the whole purpose of the tool is to help the industry move away from inaccurate valuations? The whole reason I created NameWorth is because accuracy in domain valuations was non-existent. Of of a random sample of 20 domains I had recently leased or sold in 2018, only 2/20 appraisals were remotely in my favor. This is for the improvement of the industry, not some type of money grab. For the thousands of hours I've put into this project, my hourly rate would be right around $10 per hour if I calculated it out. If I'm making almost $100k per year in profit from domain investing with very little hours, why would I continue this NameWorth project if I'm making so little per hour, unless to help the industry and develop something reliable?
As a professional, I've personally viewed the results for over 100,000 lookups going through the tool. For another professional to comment that it doesn't work without even putting through 10 results is beyond irresponsible. If you don't know, just say "I don't know...never tried it.". Even neutrality would be better than the negative talk if the person has no experience using it. If you're a professional and see some things that are out of line, send me an email.
Let's improve it together.
During my first 5 years out of college, I worked as a developer for Intel Corporation. If anyone is familiar with Moore's law, the same ideology applies to nearly any complex problem. While Moore's law is specific to microprocessors, the idea that "whatever has been done, can be outdone" is a principle all of us should try to achieve. Both personally and as a community.
Keep in mind, the NameWorth tool has barely been out for 1 year, and already it's getting results like this. If I can up the amount I'm spending each month on the tool, and execute the plans I have in mind in the next 6-24 months for NameWorth, by version 3-4 it will be hard to argue with the results
**(see below). I'm not willing to take a personal loss of $20k per year putting these additional improvements into the tool before the level of support for the tool is there, but NameWorth will get there in the next 2 years. NameWorth has almost double the subscribers than it had 3 months ago, and even on the current path, by 2021 version 3 will release, and by 2022 version 4 will be in place. Each of these version releases will have significant data and accuracy improvements. If some of my new projects are successful, it will happen even faster because I'll be much more willing to take the personal loss since NameWorth is integrated with those solutions.
**To a degree domains are subjective, so no tool is going to guess the exact amount you should sell or pay for a domain, but it can give you an accurate starting range that is consistent when compared across all domains. It will look much better for you to say you want $300,000 for a domain that is appraising at $75,000 than it is for a domain that is incorrectly appraising at $2,000.
It seems like the biggest argument so far is: "but I'm a professional domain investor and know how to price domains perfectly..."; Newsflash, your customers need validation, even if you don't! You can say you tell your customers about comps and how valuable domains are as investments/asset. That is great, but when is the last time you bought a car or house and made the seller your "source" for honest analysis on the price. Never. Everyone needs a third party source for validation. You are on the opposite side of the negotiation table, not the same side. As a broker, you may be able to get to the middle of the table, but you are still not sitting on the same side as the buyer.
If you used a page like this with accurate estimates, would that not be a gigantic advantage to your negotiating position?
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I'd like to conclude that I do get support by many, and I
truly appreciate those of you who do. This is the only reason NameWorth has seen the growth it has, and the only reason version 3 & 4 are viable in the next couple years.
Thank you!