Rightside is launching .MARKET and .MORTGAGE today and they send out a press release.
In the part of the press release that refers to the .mortgage launch it says:
The launch of .MORTGAGE signifies an evolution of the internet that is helping mortgage professionals and agencies overcome the scarcity of web domain options available with legacy extensions such as .COM. Instead of relying on long, hard-to-remember web addresses, the residential lending community can transform unwieldy URLs like clevelandhomemortgage.com to the shorter and more memorable Cleveland.mortgage. These new domains offer the simplest, most relevant, and cost-effective way to improve visibility with new and existing clients at every point of contact – through online and offline ads, web and search traffic, signage, emails, and business cards.
So I was curious to see how much the “cost-effective” domain Cleveland.mortgage actually costs. So I checked 101domain.com and got this:
Yes, the price is $59,500 per year. I have no idea who would buy this domain and pay so expensive renewals. My guess is no one will. Or maybe the registry is looking for an ignorant brand protection or marketing firm spending money of unsuspecting corporate clients.
I am sorry but you don’t want your press release to be undermining to your business and to be so outrageous that will drive everybody away. $59,500 per year is the far opposite of a “cost-effective way” to build a website.
By the way the domain name clevelandhomemortgage.com, registered in 2003, is for sale at Afternic if you are interested. The domain names myclevelandmortgage.com and getclevelandmortgage.com are free and available to register at about $10 per year.