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Make More Marbles

Asking a broker for help

Time stamped show notes:

Tara is figuring out what she's going to do next. She's thankful for being able to work at brand inception. She's a little nervous speaking in front of people. 

01:43  Ask: Has a stockpile of domain names, but doesn't have the time or team to develop. Does anyone have experience selling naked domains? Opinions?

01:58 Question: When did you start?

02:04 2000.

02:18 Avoid building them out and driving traffic. Where do you have them hosted?

02:27 GoDaddy, NameCheap, BlueHost

02:31 Question: Are they listed as for sale?

02:32 No. Tried that, sold a few at a low price. Wants more $. NameCheap doesn't seem to be working. 

02:57 Question: Are there people who specialize in brokering domain names? 

03:04 Suggestion: There are domain brokers. They take a % of the sale. Test out five or so. 

03:48 Suggestion: Try getting referrals, too. Mastermind.com just went for $600,000. 

04:04 Try to get a sense of the domain's value ahead of time, too. Use keyword search. 

04:31 Question: How many domain names do you have?

04:34 Maybe 300. Cut it down from over 1,000.

04:54 Suggestion: Get a great broker. 

05:03 You're basically sitting on a bunch of old pieces of property. 

05:20 Suggestion: Choose a few to try a public auction. 

05:39 Question: What's the Sotheby's of domain name auctions?

05:50 Question: Have you received a lot of cold inquiries? 

05:55 Sometimes, yeah, in different countries. Listed a few, but they sold in seconds, so I'd priced them too low. 

06:26 Question: Is there data on how many people search for a domain name in the registrar? Look for that number.

06:40 I pretty much know which ones are the best. 

06:50 Suggestion: Use the less interesting ones to vet potential brokers. 

Three Key Points

  1. Enlist a broker to help
  2. Vet your broker using your less interesting offers 
  3. Try a public auction