Undeveloped.com Experience

[JudgeMind]

Has anyone used undeveloped.com to sell domains? They claim to be able to increase a domainers sales by 54%.

 

[DAN.COM]

It would be useful to have more info on buyers than just a simple name/alias.... I just sold a crypto-related domain way too cheap; kicking myself now after learning who the buyer was.....

I'm sorry to hear that Federer...

 

[Embrand]

It would be useful to have more info on buyers than just a simple name/alias.... I just sold a crypto-related domain way too cheap; kicking myself now after learning who the buyer was.....

I'm a little bit surprised to see this coming from such an experienced investor as you. Certainly you should always only sell a domain at the price you are willing to no matter who the buyer is?

 

[GoWeb]

@Undeveloped, this a continuation of my previous posts here ...

So, it's about 2 weeks since I hosted a high traffic domain with you just to check out the experience. I find that the reported traffic is about 50% of what was monitored by Flippa.

Now, I get a $10k bid here from some 'buyer', the same bid was received earlier at Flippa as well. But here on your platform, I see no link to obtain more information on the bidder/buyer or be able to browse through their profile. How does that help your sellers, by keeping them in dark about bidders? I mean both Sedo and Uniregistry provide some details (geographical location, IP, Name, Email etc.) about the potential buyer to help the seller make a decision and you could too. Now if this 'feature' of lack of information is deliberate too, I am having to come to the sorry decision that your platform is really of no good use to anyone and is best avoided altogether. My 2 cents.

 

[DAN.COM]

Hi Go Webnames,

As far as I'm aware Sedo never provides any real information about the buyer and they don't even allow direct communication between buyers and sellers.

Uniregistry doesn't perform escrow themselves and outsources that so they can provide you with for example the email of the bidder.

Since we've started Undeveloped we've had zero failed escrow transactions and that's because we have a tight process that can't be gamed. The moment we start providing details of buyers to sellers and details of the sellers to buyers the two parties will communicate directly with each other and that puts all transactions at risk because we can't provide buyer and seller protection when that happens. We've seen even now situations when a buyer contacts a seller directly to finalize the transfer of a domain, which leaves your escrow agent in the dark if something goes wrong.

We also opted from day one for creating the most frictionless buying process for buyers to increase sales ratio's, as buyer can drop off at different stages of the buying process. Since we cater mostly end-users and most end-users are not repetitive buyers, we don't force buyers to create an account to make sure they engage with you because it's extremely easy to do so.

I'm not sure what your goal is as a domain investor but if your goal is to sell more domains you're at the right place at Undeveloped. Shoving aside all the benefits we bring to the table because you don't get the IP address or email address of the buyer, for which we have a good reason as stated above, doesn't make a lot of sense to me.

I also just did a small test and looked at the 10 most recent leads at Undeveloped and see that with 9 out 10 leads the buyer either provides his full name (first name + last name) or company name. Only 1 out of 10 leads had just provided his first name.

Park 50% of your domains with us to get the leads machine running and see for yourself if this is going to be an issue or not. That's my advice not only for Undeveloped but also other service providers out there that you might be interested in but never tried fully.

When you benchmark the results after setting up a proper test you'll see which platform can deliver most value.

Have a great weekend,
Reza

@Undeveloped, this a continuation of my previous posts here ...

So, it's about 2 weeks since I hosted a high traffic domain with you just to check out the experience. I find that the reported traffic is about 50% of what was monitored by Flippa.

Now, I get a $10k bid here from some 'buyer', the same bid was received earlier at Flippa as well. But here on your platform, I see no link to obtain more information on the bidder/buyer or be able to browse through their profile. How does that help your sellers, by keeping them in dark about bidders? I mean both Sedo and Uniregistry provide some details (geographical location, IP, Name, Email etc.) about the potential buyer to help the seller make a decision and you could too. Now if this 'feature' of lack of information is deliberate too, I am having to come to the sorry decision that your platform is really of no good use to anyone and is best avoided altogether. My 2 cents.

 

[DNGear]

Good move @Undeveloped
https://blog.undeveloped.com/the-future-of-the-domain-industry-lies-in-blockchain-673fb2137f16

 

[Michael M]

I was impressed with the idea, as well. Then add on the lowering of commissions, and it all sounds great.

Looking forward to continuing with Undeveloped as I expand my profile.

 

[DAN.COM]

Hi All,

Effective from today, the commission rate at Undeveloped is lowered from 15% to 9%. You can now use the best performing domain marketplace to park with while paying even less commission!

Happy selling!
Reza

 

[campout]

I pulled 800 names off BB a week ago, and switched them to Undeveloped landers. In the week since I did that, I sold one for $500 (accepting initial offer from a person who I'm almost positive is a domainer) and one for $1,495 at BIN to an end-user.

I think Undeveloped has given me something like the equivalent of a 2.7% annualized sell-through rate so far. (I only count sales like that $500 sale as a "half sale.")

I've been using Undeveloped for 5 months now, and have had maybe 450 names on average there over that time. Now I have 1,100 names there.

 

[Embrand]

I pulled 800 names off BB a week ago, and switched them to Undeveloped landers. In the week since I did that, I sold one for $500 (accepting initial offer from a person who I'm almost positive is a domainer) and one for $1,495 at BIN to an end-user.

I think Undeveloped has given me something like the equivalent of a 2.7% annualized sell-through rate so far. (I only count sales like that $500 sale as a "half sale.")

I've been using Undeveloped for 5 months now, and have had maybe 450 names on average there over that time. Now I have 1,100 names there.

Have you adjusted the prices after moving over to Undeveloped? Because if prices are the same as before, I guess these new sales should have occured if they remained at BB as well... Or maybe the landers and the "make offer" option make a difference?

Edit: I guess they were adjusted since

 

[peace800]

Hi All,

Effective from today, the commission rate at Undeveloped is lowered from 15% to 9%. You can now use the best performing domain marketplace to park with while paying even less commission!

Happy selling!
Reza

The number one reason why I didn't move my domains to Undeveloped was because of the 15% commission. I think it is too high.

Now with the 9% commission I will consider it.

How is Undeveloped different from efty?

Both are paid services and both give stats on visitors(efty via Google analytics which is fantastic) and obviously efty charges no commission.

 

[promo]

Since when is undeveloped.com a paid service?

 

[campout]

Have you adjusted the prices after moving over to Undeveloped?

I had dropped the price from $1,795 to $1,495 on the one that sold at BIN.

 

[Embrand]

I had dropped the price from $1,795 to $1,495 on the one that sold at BIN.

Thanks. Interesting. Now with a 9% commission at Undeveloped, BB really has to do an amazing job to justify 30%

 

[main]

I was considering moving my portfolio to Undeveloped, but have been calling the support number listed in my emails (same as listed on the landing pages) and it's been giving a busy signal for the last hour. Does the number even work? There should at the very least an automated message.

I'm having second thoughts.

 

[DAN.COM]

Thanks. Interesting. Now with a 9% commission at Undeveloped, BB really has to do an amazing job to justify 30%

We're adding the option for you to add a logo to your for sales page soon as well. It's currently being developed by our team.

 

[DAN.COM]

I was considering moving my portfolio to Undeveloped, but have been calling the support number listed in my emails (same as listed on the landing pages) and it's been giving a busy signal for the last hour. Does the number even work? There should at the very least an automated message.

I'm having second thoughts.

It sounds like our line was busy indeed. We already have planned to remove the phone numbers from the header of our for sales pages. Buyers still will be able to call us but having our number on the lander isn't accomplishing its goal unfortunately. Here's why:

*Throughout a normal day, we just get about 20 phone calls. If we compare that to the number of support emails we get it becomes insignificant. We get on average 150 support inquiries per day via email.

*60% of the calls are non-domain purchase related.

*20% are buyers asking if there's room for negotiation on domains that only have the buy-now option enabled and don't provide the make offer functionality. Which is counterproductive since the goal in that setup is to leave the buyer with just one option and the moment they can opt for another option - they might lose interest instead of directly engaging and completing a buy-now.

*10% are buyers asking for the price of a name (on make offer only domains) which we can't provide since the domains don't have a price. So we ask those buyers to just place an offer to get in direct contact with the seller and get a quote from the seller.

*10% are individuals asking for information about the seller, former owner of the domain and other generic questions like that.

The primary reason we added our phone number there was to make sure we can convert buyers that are still in doubt or have questions about the acquisition process. However, we hardly get those calls and we even observe losing transactions because buyers don't directly engage with the seller via a buy now or by placing an offer to start a negotiation. I think having the phone number on the landers only adds value for companies like buydomains. Since they only work with the make offer option and have an internal price list they can on the phone actually negotiate with their buyers. In that model it has a function. In ours not so much.

Kind regards,
Reza

 

[DAN.COM]

The number one reason why I didn't move my domains to Undeveloped was because of the 15% commission. I think it is too high.

Now with the 9% commission I will consider it.

How is Undeveloped different from efty?

Both are paid services and both give stats on visitors(efty via Google analytics which is fantastic) and obviously efty charges no commission.

The difference between the services Undeveloped & Efty, Sedo, Afternic & Uni provide are really significant. Undeveloped is a full-service marketplace with an internal escrow service.

Just to name some of the added value Undeveloped offers:

1: Fully customizable, professional, clutter-free and pro conversion A/B tested for sales pages. Our first sellers know how our for sales pages have evolved and how many experiments we've run to end up with the current version. There have been a plethora of iterations to get here.

Premium domains deserve a premium professional and well designed for sales page. This does influence your bottom line. When your buyer gets your domain presented on a silver platter it does increase the value perception.

2: Internal escrow service with all local payment sources enabled via our provider Adyen, which is used by Facebook, Google, AirBNB and all other major marketplaces. This increases your sales volume since we can provide a very local purchase experience.

We also started to accept Bitcoin & Ether as payment option. We're seeing more buyers opt for these options.

In terms of payouts to sellers, we always opt for the fastest route. If we can do a domain push we'll always go for that and pay out our sellers the moment we've secured the domain. We process payouts via bank wire, Paypal, Bitcoins etc. We're pretty flexible. Just ask your escrow agent how you'd like to get paid out and he or she will work with you.

3: Fully optimized buyer flow. From the first touch point of your buyer up until the checkout we guide your buyers through the process and at any point there's an issue our support team kicks in to make sure your buyers don't drop off. Undeveloped sellers know what I mean with this. Our team is extremely approachable and always ready to help.

Besides that, we also removed all conversion barriers in the entire purchase flow. We don't force buyers to sign-up and create an account for example but host a professional "Buyer control page" which they use to negotiate with the seller.

We often get messages from buyers that they really enjoyed working with us as our processes are modern and very optimized.

4: We add a strong trust layer. Our buyer protection program which we promote on all for sales pages, puts your buyers at ease. End-users often will drop off purchasing a domain on the secondary market when you don't take away all the concerns they might have. Think about all the buyers you might lose today simply because they skip even interacting with you or showing interest in your name.

5: Full automation for all processes required to sell a domain. We take care of the entire flow. We even create professional invoices for your administration but also your buyer's administration on your behalf. So you literally don't have to do anything. Except negotiating of course if you don't work with Buy-now prices.

6: 12-month installment plan to increase your liquidity and sales ratio. For a lot of starters, it's too expensive to purchase a domain for four, five or six figures. We provide installments directly on your for sales page so your buyer can opt for that option and checkout instantly to initiate the transaction. We take care of all hassle ranging from creating the legal document all the way to payment collection and payouts.

We've seen very aggressive growth in sales with a payment plan. And the beauty of this model is that it's risk-free for sellers. For example, when a buyer doesn't pay his 3rd installment we turn the contract in a rental agreement and you keep the received payments and the domain.

Besides that, we also see that hardly any installment acquisitions take 12-month. Most are fully paid off well before that. As buyers develop your domain they get very invested in the name and tend to want to pay off the remaining installments in one go.

7: Support team that's very responsive. We also keep track of all support inquiries in the weekend and make sure transaction related inquiries are always answered to make sure your buyers don't drop off during the weekend.

And there's plenty more than the above that we provide. We've never aimed to be a vitamin in this market but a real painkiller. That's what we do and always continue to do.

Kind regards,
Reza

 

[Ollie3000]

I tested the water with a few on there and whilst the traffic was ok, I didn't see offers. I use efty for some and personally I like namejet

 

[DAN.COM]

I tested the water with a few on there and whilst the traffic was ok, I didn't see offers. I use efty for some and personally I like namejet

Hi Ollie,

I don't have all details of your test but with the average portfolio sell rate of 1%-2% if you only test with a handful of domains you definitely likely won't see any results. We're not claiming that we'll get any seller with any portfolio a couple of sales a day but we do claim we'd get you more sales.

For example, if you're currently selling 5 domains in the $500 range a month, we'd be able to get that to 6-7 sales a month. So even if you end up paying 9% commission we should get you 1 or 2 sales more and increase your total net revenue generated from your portfolio.

We give a lot of sellers selling strategy and pricing advice. If you're interested, reach out and we'll look at your account setup and assist in setting up a proper test to benchmark results.

Kind regards,
Reza

 

[Sinfully Wicked]

I've only recently parked my domains at Undeveloped. I think I have about 100 +/- using the parking pages.

No offers yet, but still early days.

The thing that confuses me is the traffic. I parked the domains towards the end of last month, and all I get is "X amount of views last month"

When I click into Portfolio, it tells me how many monthly views I've had. Is that for this month, or is that combined since I started parking them?

While I like the sales pages, the back end lacks detail in my opinion.