International Domain Broker Network

[Rob Monster]

As some folks here know, about a month ago, Epik acquired some assets from Troy Rushton including pre-existings sites called NameBrokers.com and NameInvestors.com. NameBrokers.com includes a functional software platform for managing a domain broker network. It looks like this:

In addition to the asset purchase, we recently hired John Velinov @Domain1031 and Prathmesh Tokekar @Pat8 with a mandate to help build a broker platform and to guide the development of delivery tools with which to empower brokers, and the people that brokers serve, both on the buy side and the sell side.

The intent is that the software tools will be free so that anyone can participate, i.e. no fixed fees and with a specific objective of helping domain owners to find willing brokers by intelligently matching a domain for sale with a broker that can manage buy-side and/or sell-side requests.

Sample use-cases:

- I have a premium .PH domain and want to sell it to someone in the Philippines but need a broker there.

- I have a portfolio of 5N.com domains and need a China-savvy N.com specialist

- I have a premium .COM that is perfect for Apple but don't know anyone there

- I want to buy a specific domain but need a buyer's agent

- I have a buyer in China but he can only pay in RMB but I need USD, EUR or BTC

Now that we have the initial project leadership in place to make something happen, it would be great to get some input in order to direct the engineering effort as to what functionality to deliver with the highest priority as part of NameBrokers.com 2.0. Thanks for co-creating!

 

[Ategy]

he intent is that the software tools will be free so that anyone can participate, i.e. no fixed fees and with a specific objective of helping domain owners to find willing brokers by intelligently matching a domain for sale with a broker that can manage buy-side and/or sell-side requests.

By "free", I'm thinking using the platform will be free, but obviously the brokers will still be a commission upon sale?

From a domainer it sounds great .. although from your side, if it's free I think you're going to have a very hard time keeping out unsellable domains from the masses and ultimately having them flood the system.

That being said .. if you can duplicate what you're doing with Epik staff by growing network of international employees, and if many of those international brokers live in areas where the cost of living is lower than what it is for most existing domain brokers, then there could be some brokers willing to take on domains current brokers can't be bothered to broker.

I suppose the real challenge at that point is finding quality brokers with experience in domains or experience in outbound.

The potential problem that arises with lower valued domains, is that the harder they are to sell .. the more some sellers will be inclined to spam as many potential obvious buyer candidates as possible, and then move on to the next domain. .turning it into more of a numbers game .. and while definitely getting a few sales, also burning bridges with potential eventual buyers on a portion of domains.

While the above might sound like a difficult challenge, I suppose there most certainly are technical ways to mitigate irresponsible and bad practices such as blanket spamming.

In the end I suppose the specific details of what you're trying to do is really important before we can say anything.

For example, are you looking to only broker domains at the current $xx,xxx level most brokers currently require? Or are you indeed looking to try to move into the bulk of domains in the $2,000-$9,000 range? Where indeed there could be a wave of interest because of the current lack of such outbound brokers willing to work at those lower levels?

Are you simply looking to create a platform to link up and make available independent brokers, or would these brokers be employees of Epik (or NameBrokers)?

Definitely potential for something good here .. but really depends on the specifics and fine print and quality of brokers.

 

[Pat8]

Thanks for the suggestions and comments @Ategy.com .

By "free", I'm thinking using the platform will be free, but obviously the brokers will still be a commission upon sale?

Yes Brokers will definitely get commission upon sale.

keeping out unsellable domains from the masses and ultimately having them flood the system.

We are planning to roll out this platform only for "Premium Domains" that will be selected by our team . We will notify the same to investors as well .

Are you simply looking to create a platform to link up and make available independent brokers

Yes . For now this is the plan.

 

[JB Lions]

We are planning to roll out this platform only for "Premium Domains" that will be selected by our team .

That's just for the rollout or long term plan as well? If so, that would seem to be a project killer. Not sure if you guys have ever seen the discussions about Top Domains here at Namepros? Or all the domainers calling their domains Premium, when they have names I wouldn't even hand reg.

I thought it would be a Domainers ---------- Brokers. But if it's Domainers--------Epik---------Brokers. You're going to have one big headache if names don't go thru.

If that's the actual plan. I guess you have to see more details.

 

[Ategy]

Or all the domainers calling their domains Premium, when they have names I wouldn't even hand reg.

lol .. the word premium has so many meaning to so many different people and companies in the industry that it's completely meaningless at this point.

Of the approximately 350 million domains in existence, at least 351 million of them are considered premium by someone! lol

 

[Rob Monster]

That's just for the rollout or long term plan as well? If so, that would seem to be a project killer. Not sure if you guys have ever seen the discussions about Top Domains here at Namepros? Or all the domainers calling their domains Premium, when they have names I wouldn't even hand reg.

I thought it would be a Domainers ---------- Brokers. But if it's Domainers--------Epik---------Brokers. You're going to have one big headache if names don't go thru.

If that's the actual plan. I guess you have to see more details.

The point here was that under Troy's leadership, they charged monthly fees to be a broker on the platform. I am not into creating overhead. I am into creating network effects that create value. So, with that in mind, we said we would not charge fees to use the tools. We can integrate other things that make money, notably payment processing and escrow, but no need to charge to use the software itself.

 

[JB Lions]

The point here was that under Troy's leadership, they charged monthly fees to be a broker on the platform. I am not into creating overhead. I am into creating network effects that create value. So, with that in mind, we said we would not charge fees to use the tools. We can integrate other things that make money, notably payment processing and escrow, but no need to charge to use the software itself.

Sometimes your responses have nothing to do with the post. I was specifically talking about..........

"We are planning to roll out this platform only for "Premium Domains" that will be selected by our team ."

Then followed that up why that could be a problem.

I ask specific questions like - "That's just for the rollout or long term plan as well?"

Didn't see an answer. These aren't heat or trying to get at somebody questions, it's just trying to understand what the product actually is.

So is that the long term plan for Epik to choose? Your team is going to decide what is Premium?

 

[Ategy]

I took a quick look last night .. and honestly didn't really know what to think. Seems like just some concept that was never fully completed. In the days before acquisition was there actually any volume of transactions? Where there any active brokers? No offence to the people running it, but looking at the 3 videos in question it looked like a total scam .. so much so that it actually made me angry .. the first thing you need to do is remove those "testimonial" videos! lol

That being said .. it probably is a better thing if it wasn't being used .. because there did seem like there was possibly some good infrastructure in place .. and if your plan is to take it down .. rip it apart .. keep what was good and drop the garbage while adding some new stuff, then honestly there's potential for something really good!

In the end the real challenge would be to find *QUALITY* brokers .. that task alone is probably tougher than everything else combined.

 

[Pat8]

That's just for the rollout or long term plan as well?

In the end the real challenge would be to find *QUALITY* brokers .. that task alone is probably tougher than everything else combined.

all the domainers calling their domains Premium, when they have names I wouldn't even hand reg.

I sense the main concern of you guys is on how should we decide what is Premium and what is not. For now our team will decide that. Later when we have enough brokers and investors then we will let Brokers decide on which domain they want to represent. They will also have to take the consent of the investor before moving forward. On the other hand, even investors will have the feature to suggest domains to their preferred broker who may accept or reject according to his will.

 

[frank-germany]

As some folks here know, about a month ago, Epik acquired some assets from Troy Rushton including pre-existings sites called NameBrokers.com and NameInvestors.com. NameBrokers.com includes a functional software platform for managing a domain broker network. It looks like this:

Show attachment 134460

In addition to the asset purchase, we recently hired John Velinov @Domain1031 and Prathmesh Tokekar @Pat8 with a mandate to help build a broker platform and to guide the development of delivery tools with which to empower brokers, and the people that brokers serve, both on the buy side and the sell side.

The intent is that the software tools will be free so that anyone can participate, i.e. no fixed fees and with a specific objective of helping domain owners to find willing brokers by intelligently matching a domain for sale with a broker that can manage buy-side and/or sell-side requests.

Sample use-cases:

- I have a premium .PH domain and want to sell it to someone in the Philippines but need a broker there.

- I have a portfolio of 5N.com domains and need a China-savvy N.com specialist

- I have a premium .COM that is perfect for Apple but don't know anyone there

- I want to buy a specific domain but need a buyer's agent

- I have a buyer in China but he can only pay in RMB but I need USD, EUR or BTC

Now that we have the initial project leadership in place to make something happen, it would be great to get some input in order to direct the engineering effort as to what functionality to deliver with the highest priority as part of NameBrokers.com 2.0. Thanks for co-creating!

I was using
NameInvestors.com
several years ago.

was not impressed
..left them long time ago.

but of course its gold
and I am dump


PS
here is my review of 2016
after using it since 2014

>>>
I had a lot of issues with your tools
some of them not working at all for me

And your help videos are out of date,
which leads to the impression, that nobody actually cares.

 

[Ategy]

I sense the main concern of you guys is on how should we decide what is Premium and what is not.

In the end the real challenge would be to find *QUALITY* brokers .. that task alone is probably tougher than everything else combined.

Nope .. for me I was just saying the biggest challenge for a relaunch would be finding quality brokers (not domains).

As for my comment on premium domains .. I had a general idea of what you were trying to say, while at the same time telling you that the term "Premium Domain" is a generic term that is actually so broadly and liberally used, that it's effectively meaningless when it comes to domains. Instead I suggest you use examples, or maybe price ranges. Because to some people (not me), HelloThere007.net is a premium domain!

 

[Rob Monster]

I was usingNameInvestors.com
several years ago.

was not impressed
..left them long time ago.

but of course its gold
and I am dump


PS
here is my review of 2016
after using it since 2014

>>>
I had a lot of issues with your tools
some of them not working at all for me

And your help videos are out of date,
which leads to the impression, that nobody actually cares.

I agree here. I am actually trying to assess whether to keep the software or dump it and just use the domain name but build our own tools from scratch. I am leaning that way actually.

 

[frank-germany]

I agree here. I am actually trying to assess whether to keep the software or dump it and just use the domain name but build our own tools from scratch. I am leaning that way actually.

no thanks button here available
so

"thanks"

 

[Rob Monster]

no thanks button here available
so

"thanks"

I know -- the Mods moved the thread into a category where we can't like or thank..

@Mod Team Bravo - Thanks for fixing. (edited)