Business Magazine

Would You Like to Charge a Domain Inquiry Fee?

Posted on the 17 November 2019 by Worldwide @thedomains
Domain Inquiry Fee

Would you like people to pay to make an offer on your name? Would you like to pay to make an offer on someone else’s domain name?

I read a tweet from George Kirikos about low ballers (someone offered him $500 for Orderly.com)

George wrote:

What sucks is the time wasters trying to buy domains at 1% of the floor price, spamming their lowball offers. I think Webmagic has it right, charging people $20 to contact them. webmagic.com/domains/domain… I’m surprised @eftycom hasn’t copied that feature yet. @MichaelCygerRead

For those of you not familiar with Web Magic they have been around since the beginning of the commercial Internet. They are the people behind Toys.com and Pets.com. Their founder Greg McLemore has been quoted and featured in many mainstream publications.

Web Magic has one of the more involved contact forms, it’s not the boiler plate you find on most landing pages, Hi I’m Bob, Example.com $1,000 thank you. NO!

There is also some legalese that goes with the contact form.

Then there is this:

Submission Fee: After successfully completing the Domain and Advertising Proposal Submission Form, you will be redirected to PayPal in order to process a required, non-refundable Proposal Submittal Fee ($20 if related to a .com purchase or joint venture offer, $10 otherwise). Payment on the PayPal site may be made via bank account or credit card. You do not have to sign up for a PayPal account to complete this transaction. Forms submitted without paying the Form Submission Fee will not be reviewed, and if you wish to pay at a later time, you will have to fill out the form again. Once you pay a Proposal Fee, future communications regarding that domain do not require the fee (and do not go through this form).

Web Magic is not the only player out there doing this, I have written before about Nat Cohen doing this as well.

When you go to Nat’s company website Telepathy.com you see this when you click inquiries:

To enable efficient responses to domain name inquiries, all inquiries regarding Telepathy’s domain names are handled through SecuredOffers.com.

Keith over at Namepros took umbrage with Mr. Cohen’s policy.

I’m sorry but not a chance I’ll ever pay $19 in order to negotiate on a domain. This is a clear money grab. You get bombarded with emails? Set up an automated system to field offers and go from there. This is the kind of sh*t that gives the domain industry a black eye!

The post has over 6 pages of comments and close to 12,000 views.

So would you like Efty to give you the ability to offer an inquiry fee? What about DAN or any other marketplace?

Of course currently you can use DomainAgents.com

Would you like aftermarkets to give you the ability to charge a domain inquiry fee?YesNoCreated with PollMaker

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