Shorter names are usually preferred. But the length is not always a problem. People avoid longer names because they think it's harder to remember or brand or type. But they are always exceptions.
RetailMeNot.com is one of the most popular coupon sites. EveryDayCounts.com sold for $40,000. EatWhatYouKill.com sold for $12,500. TripleCreditReport.com sold for $260,000 and much more.
I was just thinking about this today that some of my longer domains may be much more valuable than my short brands led or two words .coms.
I think some longer domains may be exact match keywords if something highly popular like triple credit report, and sometimes popular or powerful phrases are worth much more. Like maybe ShoutOutLoud.com. This would make a great brand. But people lock themselves in a box and don't think for themselves... If I find a long name that I think is brandable I won't ignore it because someone on namepros says avoid long names.
So popular exact match domains and popular phrases new and old can be worth a lot. LifeisShort.com is probably worth more than all the Chinese llll .com people are killing themselves over.
I have a handful of 3 word domains and even 4 words that I think are worth more than a lot of 4ls and short brandables.
Now I'm not saying this is the general way it goes, not even close. But in some cases a three word, two word or longer name can hold good value. I remember "Shoutoutloud" justdoit.com or lifeisShort.com or workhardplayhard.com just as easy if not easier than wugu.com. Plus most phrases are already marketed by word of mouth.
Shorter domains are generally better but don't count out all longer domains; they just might be your bread and butter.