New Namesilo Marketplace

[cocaseco]

Just saw this and the 7.5% commissions stood out!. Nice to have another option.

https://www.namesilo.com/Support/Marketplace

 

[namesilo]

Hi Everyone. We wanted to let you know about some major improvements we have made today in relation to the purchase paths within our Marketplace. These improvements were implemented based upon a lot of feedback we have received here and from other Sellers. ( @Arca - these changes should help address your recommendations above, but let us know if not). Here is a rundown:

• For offer/counter-offer sales:
  • There will now always be a Buy Now button on the offer/counter-offer page whether the Buyer is logged into an account or not
  • If the Reserve price equals the BIN, then multiple changes have been made:
    • The offer/counter-offer page is now entirely skipped as it serves no purpose. If the reserve equals the BIN, we now treat the sales as solely for the selected BIN with no opportunity to place lower offers.
    • If the BIN is lower than $5,000, the domain is added automatically to the Buyer's cart (whether logged in or not) whether originating from a landing page or an internal link from within our Marketplace. This is the same for both the "Buy Now" and "More Info" buttons on landing pages. If a payment plan is offered, the Buyer is taken directly to the payment plan page. This will greatly reduce the number of clicks and superfluous information Buyers were presented with previously.
    • If the BIN is higher than $5,000 (or a payment plan is setup with a down payment higher than $5,000) then a wire transfer is required. In these cases, we have also greatly streamlined the process whether the Buyer is logged in or not.

We have made a few other changes as well to improve verbiage throughout the different possible paths and also to tried to remove anything that could be confusing to Buyers. We expect that these changes will really help with sales conversions.

As always, we appreciate all of the responses we get on NP, direct emails to our support team or anywhere else. Our goal is to provide the best possible experience, functionality and options to help you run your domain sales in the ways that work best for you. If you are an existing Seller using our Marketplace, please take a look at the changes when you can and let us know with any feedback.

We hope you like the updates!

 

[MasterOfMyDomains]

Great news!
New request
It would be nice to be able to have choice of upper case or lower case for the first, or any letters on our names.
ThankYou

 

[Shimmy]

The offer/counter-offer page is now entirely skipped as it serves no purpose. If the reserve equals the BIN, we now treat the sales as solely for the selected BIN with no opportunity to place lower offers.

Great improvement. It would even be better if your stopped calling it "Offer/Counter Offer" on the checkout page/shopping cart page when the Buy Now button is pressed. Since there was never an offer or counter offer. There was only a BIN price. Just makes it confusing and makes the buyer wonder where the place was to make an offer.

 

[namesilo]

Great improvement. It would even be better if your stopped calling it "Offer/Counter Offer" on the checkout page/shopping cart page when the Buy Now button is pressed. Since there was never an offer or counter offer. There was only a BIN price. Just makes it confusing and makes the buyer wonder where the place was to make an offer.

No problem - this has been updated

 

[namesilo]

Great news!
New request
It would be nice to be able to have choice of upper case or lower case for the first, or any letters on our names.
ThankYou

Thanks for the suggestion. This is actually something we have started working on

 

[Haris]

Every single registrar can learn a lot from NameSilo.

 

[thedotsol]

Yes, it's how all should act - listen to your custommers. But for some reason, it appears to be dificult task for many.

 

[simmplex]

@namesilo
It will be great if you add bulk search, bulk delete and csv list exporting functions to Domain Link Manager.

 

[namesilo]

@namesilo
It will be great if you add bulk search, bulk delete and csv list exporting functions to Domain Link Manager.

Thanks, we will certainly look into adding those features.

 

[namesilo]

Based upon a number of requests from several Sellers after adding the ability to add/modify sales via our API, you can now also update your for sale landing pages via our API!

https://www.namesilo.com/api_reference.php#marketplaceLandingPageUpdate

 

[Haris]

Closed a transaction through Namesilo Marketplace. Buyer refused to use escrow.com and instead wanted to use GoDaddy but I refused because of 20% commission, transferred domain to NameSilo and it was a swift sale.

Note: Buyer's need to verify credit cards if transaction is above $500, no big deal though.

 

[namesilo]

Great news!
New request
It would be nice to be able to have choice of upper case or lower case for the first, or any letters on our names.
ThankYou

Good news - you can now case your domains within the Marketplace and on landing pages. Here is an example:

http://www.digitaldelivery.network

The proper casing will appear on landing pages (per the above link) and on any other Marketplace pages (like the main Marketplace page, auction/offer pages and payment plan pages). We may also extend this to the shopping cart for consistency, but that will take a bit more work.

To add casing to any domains in your account, please access the Financial/Marketing page from within the Marketplace Manager section of your account:

https://www.namesilo.com/account_marketplace_financial_marketing.php

You can find more details on how that section works via the middle video on this page:

https://www.namesilo.com/Support/Domain-Investor-Tools

Hope you enjoy!

 

[Arca]

Hi Everyone. We wanted to let you know about some major improvements we have made today in relation to the purchase paths within our Marketplace. These improvements were implemented based upon a lot of feedback we have received here and from other Sellers. ( @Arca - these changes should help address your recommendations above, but let us know if not). Here is a rundown:

• For offer/counter-offer sales:
  • There will now always be a Buy Now button on the offer/counter-offer page whether the Buyer is logged into an account or not
  • If the Reserve price equals the BIN, then multiple changes have been made:
    • The offer/counter-offer page is now entirely skipped as it serves no purpose. If the reserve equals the BIN, we now treat the sales as solely for the selected BIN with no opportunity to place lower offers.
    • If the BIN is lower than $5,000, the domain is added automatically to the Buyer's cart (whether logged in or not) whether originating from a landing page or an internal link from within our Marketplace. This is the same for both the "Buy Now" and "More Info" buttons on landing pages. If a payment plan is offered, the Buyer is taken directly to the payment plan page. This will greatly reduce the number of clicks and superfluous information Buyers were presented with previously.
    • If the BIN is higher than $5,000 (or a payment plan is setup with a down payment higher than $5,000) then a wire transfer is required. In these cases, we have also greatly streamlined the process whether the Buyer is logged in or not.

We have made a few other changes as well to improve verbiage throughout the different possible paths and also to tried to remove anything that could be confusing to Buyers. We expect that these changes will really help with sales conversions.

As always, we appreciate all of the responses we get on NP, direct emails to our support team or anywhere else. Our goal is to provide the best possible experience, functionality and options to help you run your domain sales in the ways that work best for you. If you are an existing Seller using our Marketplace, please take a look at the changes when you can and let us know with any feedback.

We hope you like the updates!

Great! I think this was a very good way to address the shortcomings I highlighted, within the way the your system works.

Below are a few points you can consider that could help make this solution even more streamlined/easy to understand for end-users. Everything below pertains to “Offer/Counter Offer Sale” listings.

On Reserve vs. Minimum offer:
On the “Offer/Counter Offer Sale” page, can you change the text from “reserve” to “minimum offer” when “bids under reserve” is set to “no”?

While an “Offer/Counter Offer Sale” is not an auction, there is a “date/time” auction timer box right next to the reserve price box, so a prospective buyer might misinterpret the listing as an auction.

In an auction, a reserve refers to the lowest price at which a seller will sell a domain for, and if you bid above the reserve in domain auctions at other marketplaces, like namejet and godaddy, you get the domain when the auction ends. But if you bid over the reserve for an “Offer/Counter Offer Sale” listing at namesilo, there is no guarantee the seller is going to accept it, but buyers who encounter this setup might think they can get the domain after the end of the listing (as indicated under “date/time”) as long as they make an offer above the "reserve".

If I set up an "Offer/Counter Offer Sale” listing for a domain with a BIN price of $3000 and a “reserve” of $500 (and set "bids under reserve" to “no”), $500 is not actually a reserve price, as I am not willing to sell the domain for $500, but rather $500 refers to the lowest offer I am willing to let someone make for the domain, as a starting point for further negotiations. So for “Offer/Counter Offer Sale” listings where the “bids under reserve” is set to “no”, can you change “reserve” to “minimum offer”, to reflect that the amount displayed in this box actually refers to the minimum offer the buyer can make, and not to a reserve price which the buyer will get the domain for after the "auction timer" has ended as long as they offer more than the reserve.

On the auction timer on non-auction pages:
When somebody reaches the “Offer/Counter Offer Sale” page via the domain's landing page, perhaps you can simply hide the “end date/time” box entirely?

Displaying the “end date/time” box is of course no problem if somebody navigates to the domain via your marketplace, in which case it is most likely a domainer who is not going to be confused by it, and since they found the listing thought the marketplace, they would already be somewhat familiar with how these listings and the marketplace work. However, anyone who navigates to this page via the landing page is most likely an end-user who is not that familiar with the domain name aftermarket, and might be a bit confused. For example, GD auctions listings are displayed the same way to end-users who find these listing via the GD registrar path, and I've heard that some end-users believe they will not be able to get the domain until the "auction" timer has ended, even if they use the BIN option. Since offer/counter offer listings are not auctions, displaying that a listing will close on, for example "2017-12-19 00:00:00", is hardly important info to present to an end-user, and it might be better to hide this box whenever people reach this page by clicking on the landing page, so that it simply looks like a "pure" BIN/offer/count offer sales page, without adding a potentially misleading auction element into the mix.

 

[namesilo]

Great! I think this was a very good way to address the shortcomings I highlighted, within the way the your system works.

Below are a few points you can consider that could help make this solution even more streamlined/easy to understand for end-users. Everything below pertains to “Offer/Counter Offer Sale” listings.

On Reserve vs. Minimum offer:
On the “Offer/Counter Offer Sale” page, can you change the text from “reserve” to “minimum offer” when “bids under reserve” is set to “no”?

While an “Offer/Counter Offer Sale” is not an auction, there is a “date/time” auction timer box right next to the reserve price box, so a prospective buyer might misinterpret the listing as an auction.

In an auction, a reserve refers to the lowest price at which a seller will sell a domain for, and if you bid above the reserve in domain auctions at other marketplaces, like namejet and godaddy, you get the domain when the auction ends. But if you bid over the reserve for an “Offer/Counter Offer Sale” listing at namesilo, there is no guarantee the seller is going to accept it, but buyers who encounter this setup might think they can get the domain after the end of the listing (as indicated under “date/time”) as long as they make an offer above the "reserve".

If I set up an "Offer/Counter Offer Sale” listing for a domain with a BIN price of $3000 and a “reserve” of $500 (and set "bids under reserve" to “no”), $500 is not actually a reserve price, as I am not willing to sell the domain for $500, but rather $500 refers to the lowest offer I am willing to let someone make for the domain, as a starting point for further negotiations. So for “Offer/Counter Offer Sale” listings where the “bids under reserve” is set to “no”, can you change “reserve” to “minimum offer”, to reflect that the amount displayed in this box actually refers to the minimum offer the buyer can make, and not to a reserve price which the buyer will get the domain for after the "auction timer" has ended as long as they offer more than the reserve.

On the auction timer on non-auction pages:
When somebody reaches the “Offer/Counter Offer Sale” page via the domain's landing page, perhaps you can simply hide the “end date/time” box entirely?

Displaying the “end date/time” box is of course no problem if somebody navigates to the domain via your marketplace, in which case it is most likely a domainer who is not going to be confused by it, and since they found the listing thought the marketplace, they would already be somewhat familiar with how these listings and the marketplace work. However, anyone who navigates to this page via the landing page is most likely an end-user who is not that familiar with the domain name aftermarket, and might be a bit confused. For example, GD auctions listings are displayed the same way to end-users who find these listing via the GD registrar path, and I've heard that some end-users believe they will not be able to get the domain until the "auction" timer has ended, even if they use the BIN option. Since offer/counter offer listings are not auctions, displaying that a listing will close on, for example "2017-12-19 00:00:00", is hardly important info to present to an end-user, and it might be better to hide this box whenever people reach this page by clicking on the landing page, so that it simply looks like a "pure" BIN/offer/count offer sales page, without adding a potentially misleading auction element into the mix.

@Arca Thanks as always for your well-thought out requests and ideas for improvement. We have changed the wording from "Reserve" to "Minimum Offer" on the offer/counter-offer pages. We also removed the countdown timer from those pages (this was actually done about a week ago when we made the other changes noted above). We also changed the "End Date" wording to "Domain Available Until".

Hopefully these changes help Buyers that may not be as familiar with domain marketplace sales.

Thanks again!

 

[Asfas1000]

Namesilo your marketplace features look very promising. I think I will try it in the next time.

One question, if I want to receive payment through bank wire, which bank do you use to send the payment ?

 

[namesilo]

Namesilo your marketplace features look very promising. I think I will try it in the next time.

One question, if I want to receive payment through bank wire, which bank do you use to send the payment ?

Hello, and thanks for your consideration. We use our main corporate bank (Arizona Business Bank) to send wires and they have had no problem issuing payment to all of our Sellers' banks in many different countries even if an intermediary bank is required.

 

[Shimmy]

While on the topic of banks. Offering ACH payments so we don't get hit with wire fees on both ends would be awesome.

 

[namesilo]

While on the topic of banks. Offering ACH payments so we don't get hit with wire fees on both ends would be awesome.

Yes, we have been looking into a few different options for ACH. Hoping we have something before too long. Also, please note that the only fee is to receive funds via wire - we do not take any fees for payments made by wire form Buyers. If you are in the United States or Canada, we can also likely mail you a paper check from our bank upon request. Please email [email protected] if you would like to receive a paper check. Thanks

 

[Shimmy]

okay, when I said both ends I meant when I choose a wire you charge me $15 to send it and my bank also charges me $15 to receive it. Glad to hear ACH may be coming.

 

[thedotsol]

Do you have any plans on providing traffic stats for domains with your name servers?

 

[namesilo]

okay, when I said both ends I meant when I choose a wire you charge me $15 to send it and my bank also charges me $15 to receive it. Glad to hear ACH may be coming.

Ah - gotcha. Now I understand the double fees you were referring to

Yes, ACH will certainly be a nice option once we have it.

 

[namesilo]

Do you have any plans on providing traffic stats for domains with your name servers?

Hello. Are you referring to Marketplace landing pages and Marketplace bid/offer pages? We have looked at compiling and providing data on visitors for both, but once we started looking at the data, it was pretty obvious that the vast majority to both were bots and therefore not reflective of actual people looking at the pages. We added a few filters to take out obvious sources (like Googlebot, Bing, etc.), but there are a number of other bots rapidly crawling Marketplace domains for other purposes. So, the short answer is that once we can come up with a better way to filter bot traffic from actual human traffic then we would make that data available.

 

[Arca]

@Arca Thanks as always for your well-thought out requests and ideas for improvement. We have changed the wording from "Reserve" to "Minimum Offer" on the offer/counter-offer pages. We also removed the countdown timer from those pages (this was actually done about a week ago when we made the other changes noted above). We also changed the "End Date" wording to "Domain Available Until".

Hopefully these changes help Buyers that may not be as familiar with domain marketplace sales.

Thanks again!

That was fast, thank you!

I have a question: If a domain is priced above $5000, you require a wire transfer to be sent within 7 days of buyer initiating the sale.

However, if a domain is priced at, say $7500, and the buyer opts to set up a payment plan to pay for the domain, for example a $1000 down payment followed by twelve monthly payments of $625. In that case, will the buyer be able to just put the domain right into their cart and pay the $1000 via any payment method?

To phrase the question in another way, as long as no individual payment is above $5000, is the buyer allowed to pay via paypal/credit card, even though the sum of all these individual payments will exceed $5000?

 

[thedotsol]

Hello. Are you referring to Marketplace landing pages and Marketplace bid/offer pages? We have looked at compiling and providing data on visitors for both, but once we started looking at the data, it was pretty obvious that the vast majority to both were bots and therefore not reflective of actual people looking at the pages. We added a few filters to take out obvious sources (like Googlebot, Bing, etc.), but there are a number of other bots rapidly crawling Marketplace domains for other purposes. So, the short answer is that once we can come up with a better way to filter bot traffic from actual human traffic then we would make that data available.

Yes, that's what I meant and thanks for your answer.

 

[namesilo]

That was fast, thank you!

I have a question: If a domain is priced above $5000, you require a wire transfer to be sent within 7 days of buyer initiating the sale.

However, if a domain is priced at, say $7500, and the buyer opts to set up a payment plan to pay for the domain, for example a $1000 down payment followed by twelve monthly payments of $625. In that case, will the buyer be able to just put the domain right into their cart and pay the $1000 via any payment method?

To phrase the question in another way, as long as no individual payment is above $5000, is the buyer allowed to pay via paypal/credit card, even though the sum of all these individual payments will exceed $5000?

Yes, you are correct in both of your assumptions. As long as no individual payment is over $5k then the Buyer can use any method of payment, and, in your example, yes, the Buyer would get the domain as soon as they pay the initial $1k down payment.