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San Diego, USA
Your $17,000 sale may be memorable for more reasons than you expected.
My name is Garett. I've been a domain investor for over 15 years and I created biix because I was tired of companies overcharging domain investors without contributing to the sale.
I currently have over 7,000 domains and sell over 60 domains per year. I can tell you from experience that about 60% of your domain sales come from your own traffic by customers typing in your domain or looking up your whois info. The other 40% comes from Afternic (premium network) from customers looking up domains at registrars.
So why would you give away nearly 10% (or more) of the sale to middlemen who do little to sell the domain. They just help the customer complete the purchase. That customer came to them by typing in your domain. It makes no sense.
Here's the secret that they hope you don't figure out. They are overcharging you for your largest sales. While escrow companies typically charge a lower percentage for amounts over $5,000, these companies keep their high commissions unchanged even if you sell a domain for $20,000.
At other marketplaces, if you sell a domain for $17,000, your commission is going to be $1,530 or more. At biix, the same sale will only cost you $340 as the seller ($387.40 as the buyer. Transaction total: $727.40) and you'll be using escrow services from the most trusted escrow company in the world, escrow.com. At biix, the seller covers the low 2% biix commission, and the buyer pays the escrow fees.
Finally an affordable solution to selling domains.
At biix, sellers pay a low 2% commission and get one of the best converting sales pages in the industry with free NameWorth appraisal values and advanced portfolio management tools.
At biix, buyers are responsible for covering the industry low escrow.com fees. For the standard Escrow service this is 3.25% for transactions up to $5,000. For larger transactions over $25k, the escrow fee is as low as 0.89%!
View full pricingThat's it. We try to get you the value your domain is truly worth, and you keep most of the profit. This is the way things should have always worked in the domain industry. Why give 9%-20% commission? After expenses, this is up to 18-40% of your profit!
All domains that you have pointed to the biix.com site will receive NameWorth appraisals. These NameWorth appraisals will be shown automatically when your domain is priced near or below the NameWorth estimated price. This helps to instill confidence in the buyer and will in-turn result in more sales.
We created NameWorth from the ground up to be different than any other automated appraisal service. Below, I'll give you a quick real-world example of why we created the NameWorth service.
In July-August of 2019, I updated most of the pricing on my 7,000+ domains to be more inline with the NameWorth prices. This meant raising prices for the 30-40% of my domains I had priced too low.
For the month of August of 2019, I had 5 sales for a total of $29.1k. That was my highest month of the year and it wouldn't have happened if I hadn't updated my pricing. Those same 5 domains would have sold for only $11k had I not change my pricing to match the NameWorth estimates. I don't know about you, but to me $18k is a lot to miss out on.
One of 5 domains sold was a brandable domain for $15,000, and another was a brandable domain for $7,450. If I had taken the advice of other domain appraisal services, they estimated that the $15k brandable domain was only worth $70, and the $7,450 brandable domain was worth only $170! So you can see why we created NameWorth instead of using an existing service.
As a biix user, you can get the NameWorth suggested value on all your names at the time of upload, as long as the domains are pointed to the biix.com servers.
Sell My Domain(s) NowAs a domain investor we all know of companies like Sedo, Afternic and others, but 99% of your customers will only know Escrow.com, GoDaddy & maybe Register.com or NetworkSolutions. Do you really want your customers to feel like they are at risk when it comes to paying?
I can tell you firsthand, risk destroys deals, so do whatever you can to avoid the appearance of risk in your sales process.
Do you really think a customer would feel comfortable wiring $15,000, $50,000 or $100,000+ to a company they never heard of, especially if the company isn't bonded as a real escrow company? Risk is the biggest deal breaker in business, and you are putting your highest potential sales in jeopardy if you are ignoring this.