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The FUTURE of Domain Name Brokers and The Long Tail

Located in General Domain Discussion, started by Rob Monster, Feb 20, 2020

Replies:
99
Views:
5,732

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What do you think about the arrival of a vast number of domain brokers into the industry?

  1. The More the Merrier!

    34.3%
  2. I am dreading them

    7.5%
  3. I doubt I will notice a change

    43.3%
  4. I am already broke

    6.0%
  5. This thread is stupid

    9.0%
Total: 67 vote(s)
  1. SOLR

    SOLR Established Member

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    If the cost to try to broker a domain in a week is 8.49 non-refundable then this isn't any better than hand-registering a domain for 8.49 and trying to sell it in a year. A week is too short of a term to get anywhere near full outbounding potential.

    Technically, couldn't they just hand-register domains and try to sell them in the 5-day registration grace period and if they can't do so, just send them back for free. That to me seems like the total entry level brokerage option...
     
    The views expressed on this page by users and staff are their own, not those of NamePros.
  2. AnthonyD

    AnthonyD Optimal Names VIP Gold Account

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    There is absolutely NO WAY to compare @Rob Monster with Adam Dicker, who stole lots of money from me (and many, many others), who LIED to our faces, even had his henchmen lie to us as well, stringing us all along for months over months to the point where it went past the credit card dispute time period. He knew precisely what he was doing to everyone. Money that he promised to multiply ten-fold.

    How dare you make this comparison. Holy cow! Rob is growing his business and in exchange for his "promotions" he gives you exactly what he tells you he's going to give you. You get the exact service he promotes. If you dont like it, IGNORE it!!!

    Being critical is welcome and its normal but this is beyond critical. Its vindictive. Its poisonous. It contributes NOTHING to the threads. It becomes a time-sink. The constant vinegar and p*ss is off the chart with you and the same people each and every time Rob posts something, but it seems to be mostly started with you. Y'all seem to have "Rob Derangement Syndrome" if you ask me. This reply, here, and now, has been coming for quite some time.

    I have bit my tongue since last Summer and cant anymore. I've even hesitated for days to reply here but I cant anymore. I cant stand to see the anger, the hatred anymore. Its not civil. There ARE some who are genuinely engaging in discussion but there are a small few who cant help but add NOTHING but anger, hatred, negativity. I dont know about anyone else but I have had enough.

    ROB started the thread. ROB asked a question. Your first post was to criticize him for promoting Epik again and NOT anything to do with the question. That post should be removed. If its not, it will be (for me) after I ignore your account. Very sad that it comes down to it because I've been a part of this forum since 2005 (my first account is inactive) and I have (now) two people on my ignore list in 15 years. Very sad.

    Rob has done nothing less than help me and others, personally, and all YOU seem to do is come to EVERY SINGLE Epik thread and spread your vinegar and p*ss around. It has been quite noted (just as you seem to think he's promoting Epik around). Of course he is, he's the damn CEO so why the heck would he NOT. Adam Dicker never called people. He hid behind his computer screen like a damn coward and a thief. He did not respond to emails, phone calls, etc. He knew damn well he was scamming people. If Rob ends up scamming people like Adam did then I will eat crow for y'all but these two men are night and day.

    Business IS ALL ABOUT promoting. Promotion can be subtle or it can be in your face - and all in between. If you do not like it then get out of business.

    Let the mods decide if he's not conforming to the rules. Report his posts and let them do their job. Dont like their response/action then start your own forum and control the message if you think that is good for discussion. The same set of people come out and pounce on him and Epik each and every time and its more than obvious to the rest of us. Thank God for the ignore feature because all these threads turn into pissing matches and there are others who actually are interested in the information posed. Stop hijacking these threads and go do something else. Please. People who have this syndrome cant help but WAIT for the next Rob Monster / Epik post. You're wasting precious time in your life - time can never be recovered.

    If you do not like seeing his posts then do to Rob what I am going to do with you right now, turn on IGNORE for his account. I will add more and more to my ignore list because I am sick and tired of these threads going from hopeful ideas to arguments and finger pointing and down right toddler behavior.

    To respond to the thread itself now: I, as a seller of a liquidated domain, give explicit permission for 2 dozen people to try to sell my domain, what business of it is of anyone? If I permit others to try to sell my domains then let them sell the names.

    Wow. Amazing how these threads devolve so quickly.

    No need for you to reply, I wont see it.
     
  3. Rob Monster

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

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  4. frank-germany

    frank-germany domainer since 2001 / musician VIP

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    I was talking to Adam on skype
    and kind of liked him
     
  5. Rob Monster

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

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    And I am kind of rooting for the @Adam Dicker comeback. He is an innovator, and perhaps comes back wiser and stronger. That's my hope actually. I talked to him via phone earlier this year actually.
     
  6. frank-germany

    frank-germany domainer since 2001 / musician VIP

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    look at the idea of "shoot to the moon"
    the concept is to buy discounted domains
    at epik
    either from nameliquidate
    or at reduced reg fee

    look at the concept of "I like .org"
    or
    look at the concept of
    "I like hyphens"

    all this convinces people of buying domains
    they haven't been convinced of before

    the profit is at is epik.
    the risk is yours

    you are upset
    ok
    that's your right

    I hope you are not upset that Rob likes Adam
     
    Last edited: Feb 22, 2020
  7. Rob Monster

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

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    Well, I appreciate Adam just as I appreciate you.

    Speaking of Adam, amall world story:

    The guy who apparently built the old version of NameBrokers.com for Troy Rushton was Adam Dicker. We acquired it from Troy. I have offered to sell him back the rights to his software but no action there yet.

    We are going to use the domain but the software is being properly integrated into Epik as a dashboard for domain brokers and as a central registry where brokers can manage exclusive representations.
     
  8. NicTraders

    NicTraders Top Contributor VIP Gold Account

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    OK, so to bring this thread back on topic (since I have finally read through it all):

    As has already been mentioned, it's likely you'll attract the lesser quality 'brokers' with this strategy. Chances are they'll just try and broker the domain without pressing the Broker button (and paying the transfer fee) anyway.

    But a real problem here, if they do press the Broker button, is that I might have listed a domain on NL after a domain has expired (while still deciding whether I renew or drop) and depending on how long since it expired the following may occur: A ‘broker’ comes along after a few days and the ‘broker-lock’ is applied. They don’t make the sale. Meanwhile my domain goes into redemption period. Now I am up for redemption fees to renew the domain because the auction was ‘on hold’ for 7 days, where before I would not have been up for redemption fees. OR a buyer swoops in at the end for $9 and grabs it. Is HE then up for redemption fees if it has gone into the redemption period?...

    IF you're going to implement this I'd say the ‘broker’ button should invoke an email to the seller saying ‘xxx wants to broker your domain. Are you willing for this to occur?” and from there the seller can accept (name goes to escrow for 7 days) or reject (and auction continues).

    However, having said that, I think that the industry needs a whole new brokerage platform unrelated to NL. At least half a dozen people have already suggested it in this thread. And as they have indicated, it's not really rocket-science: seller lists domains they want brokers for, broker selects domain, both parties must agree to terms (%, exclusivity period, etc). It's also key that the seller can add more comments if he wishes: suggestions for outbound, previous enquiries he's had, etc. And of course feedback left for both parties so others can see who they want to work with. Essentially an Upwork type platform for domain brokers. I would definitely have domains to add to that. Seems a perfect candidate for Epik Labs.
     
  9. Rob Monster

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

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    Thanks @NicTraders

    In case not clear, the logic here is that to get the Broker Exclusive they have to fund the transfer. So actually, it is reducing the risk since instead of waiting until Day 7 of the reverse auction to start the transfer, the transfer is already starting immediately. The broker then has 7 days to fund a transaction at the strike price of the option, effectively getting the registrant a higher price in about the same time. Worst case, they get a free year of renewal.

    As for the idea of portal for brokers, ICYMI, we have NameBrokers.com under development as a dashboard for brokers to manage their transactions while allowing them to:

    - Feature their inventory
    - Manage broker profiles
    - Manage broker exclusives so there are not multiple exclusives on the same name
    - Feedback on brokers (see TrustRatings.com for what that might look like)

    @Ala Dadan is working on some mocks. We'll share something soon. There are a few projects in the hopper but this is one that I really get enthused about if we can do it right, and manage those broker exclusives while also enforcing standards.
     
  10. NicTraders

    NicTraders Top Contributor VIP Gold Account

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    Ah yes, of course, I forgot the transfer was actually actioned immediately.

    No, I didn't miss NameBrokers, but that's a platform for Brokers, and like all other brokers at present NameBrokers only cares about "high-value digital assets" with the listings starting at 6 figures. The platform I think we are all talking about is a platform that would be for SELLERS AND Brokers (well that's what I envisage anyway). Something much more like Upwork where you can hire a broker for a $x,xxx domain just as easily as you can hire one for a $xxx,xxx domain. Something very different from NameBrokers.
     
    Last edited: Feb 24, 2020
  11. Rob Monster

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

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    Ignore what is on NameBrokers.com right now -- those are real listings but that is not the final destination of that brand. What you described there of matching talent to task is exactly what we are talking about.

    On a related note, I have been discussing with @Pat8 about the need for an Upwork solution. A very crude early prototype exists here:

    https://www.masterbucks.com/projects/

    You have to login with your Epik login to see it but the concept is there.

    In the meantime, there is a pretty vast supply of OpenSource solutions. Two that we found are here:

    https://www.agriya.com/products/freelancer-clone

    https://github.com/jyyblue1987/upwork-opensource

    If someone has a fast-track solution for solving the "Fiver for domainers" requirement, we are looking.

    So, yes, in short:

    it should be possible to find a broker to do buy-side or sell-side work for your very targeted niche.

    It should also be possible to find a specialist to add value to your domains, e.g. add a logo, build a site, etc.

    NameBrokers has a product manager in @DanSanchez .

    The un-named "Fiver for domains" is as yet still in the planning stage but I would not be surprised if @Pat8 ends up being the champion for it.
     
  12. NicTraders

    NicTraders Top Contributor VIP Gold Account

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    Excellent! I look forward to seeing it completed then.

    That could be very interesting when it's ready to roll.

    That's what we need. Well mainly the broker stuff. The other stuff is pretty easy to find now, though having it all in one place wouldn't hurt.
     
  13. Rob Monster

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

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    Here is a first look from @Ala Dadan at integrating Domain Brokerage feature into NameLiquidate:

    https://www.loom.com/share/1ddb04ad11684820a97e3393e34bdbe3

    The Broker dialog is not done yet but you can see the next phase of NameLiquidate.com will include a Broker integration for allowing domains to be taken out for a 7 day broker exclusive.

    The broker pays the transfer fee in return for the 7 day brokerage exclusive, i.e. they have 7 days to complete the purchase but the price is locked.

    Input welcome there.
     
  14. topdom

    topdom Top Contributor VIP

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    Not sure what it means, but it needs to be tested. Finding a buyer in a short period of time is almost impossible, because people ignore, and the reason they ignore: they are suspicious, and even if not they don't have time, and they are not ready.

    Maybe it would be better if brokering is done during registration period instead of after expiration.
    How would it work: People apply to become a broker for my domain, and I choose one of those brokers, and domain gets locked somewhere for 1 month, and during that time my broker tries to sell my domain within my range, and when the sale is complete, everything should be transparent.
    .....
    Or coupon method I mentioned 1 year ago: My chosen price for the domain is 1K fixed, and someone applies to become a broker for it, and gets a coupon, and gives that coupon to endusers, and when used it makes the price to drop to 900, and the system knows whose coupon was used and pays a commission to that broker, like 100. I would be happy with 700 at the end. Everyone wins in this scenario.
     
  15. Rob Monster

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

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    I think once a domain is secured as broker exclusive, we can make it so that during those 7 days, the broker and registrant can be in direct communication in order to work out a longer term arrangement. Some folks here are aware that we are working on an upgrade for NameBrokers.com where broker exclusives can be documented in a public registry so that it is easy to see if a domain is already represented, and by who. There is more to be done in this arena to avert chaos, but the key point is to have a mechanism to save a domain from the expiry stream in a way that creates more value for registrants versus the current default practice of allowing domains to go to an expiry stream that is monetized by persons other than the registrant.
     
  16. Ryan217

    Ryan217 Established Member

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    Persoanlly I feel NameLiquidate and NameBrokers should be/need to be two separate things.

    If an owner wants to use NameBrokers that's something that imo should be done before expirarion/liquidation.
     
    Last edited: Feb 25, 2020
  17. Rob Monster

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

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    Yup, totally separate brands with separate use-cases. The login credentials are unified by single sign on across Epik brands and tools, but indeed separate user experiences on distinct URLs.

    The thinking is to have verified brokers manage a profile at NameBrokers.com to be eligible to take an exclusive as a domain as a broker on a name listed in a marketplace, starting with NameLiquidate.com.

    This roots out bad actors and if brokers have a poor sell-through rate, the could be held to a higher standard in terms of up front commit or maximum bid option.

    I see this going further than NameLiquidate. For example, earlier today, someone approached me about buying a domain for $2K from Afternic for a flip. It seemed high risk and seasonal. It was election-related.

    If we create an open API for NameBrokers.com, it would be possible for any marketplace to add a broker widget to a domain that does not already have a broker exclusive.

    So, the code object has to check if a domain is already listed as broker exclusive. If so, the NameBrokers widget shows the avatar of the current broker. If not exclusive, then it invites brokers to engage,

    This going to be a bit of crawl, walk, run but the concept is becoming more clear, and that is to help sellers create value with the help of verified broker who want to put skin in the game.

    @Ala Dadan is working on some mocks to help make the vision a bit more clear.
     
  18. Ala Dadan

    Ala Dadan Upgraded Member Epik.com Staff Blue Account

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    Looking forward to sharing the Broker screens to get the initial reaction. will fast-track as time allows.
     
  19. Ryan217

    Ryan217 Established Member

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    My point is NameLuquidate should have no connection to NameBrokers besides simply being owned by Epik (SSO and all). Completely different use cases IMO.
     
  20. tonyk2000

    tonyk2000 Top Contributor VIP ★★★★★★★★★★

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    Exactly. First, 7 days is simply not sufficient for a brokerage. Second, introducing brokers to nameliquidate is almost the same as inviting endusers to nameliquidate. Which is not what nameliquidate was designed for. Domainers are both selling and buying at nameliquidate, and, with domains routinely purchased, domainers in buying mode are expecting and want to make money themselves - so no buyer can appericate decreased inventory, or, to be honest, his potential income going to somebody else instead (to a broker in this case, should a brokerage be added to nameliquidate).

    NameBrokers .com (or any brokerage service offered by Epik) is something worth discussing, I for one have a lot to suggest etc. - but not in this thread, which is mostly about NameLiquidate. Maybe @Rob Monster can start a thread dedicated to NameBrokers?
     
  21. oldtimer

    oldtimer Do some good for humanity and the environment VIP ★★★★★★★★★★

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    I also believe that they should be kept separate,

    another solution is to allow brokers on Name Liquidate only while the domains are above lets say $500 dollars.

    IMO
     
  22. Rob Monster

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

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    Interesting compromise scenario there though not highly inclusive of the guy with time and talented but less $. I think the solution is to allow domain owners to set upon domain submission whether they allow brokers.

    As for the NameLiquidate broker time window, 7 days should be enough for the broker to decide whether to pull the trigger on a domain for a domain prices at up to $1000.

    After all, we don't want to tie up the liquidator's asset if their goal is to LIQUIDATE. The only thing the broker gets is a 7 day window to get the seller a decent price.

    This thread is about brokerage so fair game to discuss vision for NameBrokers.com. @Ala Dadan will have some mocks to share soon.

    The point here is to bring some structure and professionalism to name brokerage as the number of brokers increases quite materially as I believe it will.

    In the meantime, for all those guys who are sniping bargains on NameLiquidate, don't worry, as the pie gets bigger, the inventory increases. There will still plenty of deals to be had. I am not worried there at all.
     
  23. targetpro

    targetpro Upgraded Member Gold Account ★★★★★★★★★★

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    The future of domain brokers is non-existent given enough time. As is the future of any middleman or broker of anything. Ultimately they are replaced by efficient technology. Which is a good thing. Notice how the respected people in this industry seem to be really old people, especially the brokers. It is not like there is industry specific knowledge required to be a domain broker.
     
  24. targetpro

    targetpro Upgraded Member Gold Account ★★★★★★★★★★

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    @Rob Monster your entire platform is designed to displace brokers. Again, this is a good thing.
     
  25. Rob Monster

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

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    Well, not quite.

    The platform actually empowers connecting supply to demand. If brokers facilitate in that process then absolutely they add value and should be able to earn a return for doing so.
     

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