Mike Mann just posted a lot of details on the new DomaiMarket.com domain brokerage and appraisal process on his Facebook page.
You can see what we knew up to today (including how the landing page looks like) on this previous detailed post.
Here is what Mike Mann wrote today:
Domain Brokerage Appraisal Process, brainstorming and action items, feel free to comment on all
-Potential customer enters URL and sees price of $48 and features
-They must have an appraisal over $10,000, from our authorized list of domain appraisers, or from us, in order to be entered on our site / in our database. They have to affix a price at or below that appraisal price which cant be changed without future approvals
The Authorized Appraiser list process:
The potential appraiser, who I know who comes referred, gets a list to appraise, if they do a good job they are in.
Mike reaches out to domain broker/appraiser/dealers who may be qualified, they enter URL and take tests, one test is a random list of names from our site, then I appraise them after, blindly, without seeing prospects guesstimates.
In both cases they should get near appraisal values to then get approved by me subjectively. Most times they wont be close but if done enough times should average out and be within 50% on average Id think, we shall see.
Create Society of Domain Appraisers? For free or cheap? Put that badge of honor on the appraisals and appraisers?
Must be .Com for now
Customer chooses their own price which has to be displayed, and whether or not to display the appraisal and appraisers name, cant go over appraisal, can go lower if they want, don’t have to display it
Can get a second appraisal from DM at a second cost, an appeal of sorts, disclaimer that our appraisals and decisions are subjective by nature, cant be held accountable
Can buy a crowd appraisal from 3 experts averaged from our list, cost is price of 2.
Appraisers get 51% of fee. Fee is $48. All subject to change.
Appraisers should leave comments with their appraisal price. Form guides them through appraisal and comment process, Mike will provide ideas.
If the name sells, 5% of sales price brokerage fee, plus 4.5% for all the ecommerce services we pay out of pocket visa/wiring/bitcoin/all , should make ourselves Escrow agent too, how to? Need separate company domain?
Only names pointing to DomainMarket.com landers, if they get unpointed they are automatically removed from the brokerage market, can they go back dynamically when DNS is fixed? or client needs to go back to form?
Only names I approve; only priced names with prices I approve
Thanks for your ideas and input and signing up, hope to launch by April