We are thrilled to announce several important changes today to our Marketplace! We strongly believe these changes will lead to a positive impact for our sellers and propel us towards a stronger marketplace presence and connection with our platform users.
1. Significantly reduced commissions for Basic Listings
Beforehand, if you utilized the Squadhelp platform to list your domains as a Basic Listing, we offered a 15% commission of the selling price (or $300, whichever was greater). Effective immediately, we will decrease the paid commission for our Basic Listings to 7.5% of the selling price (or $150, whichever is greater). While the commission percentage is lowering, you will still receive the fantastic benefits available with our Basic Listings.
- We will continue to assist with payment escrows for our domain buyers and will still offer our white-glove domain transfer service even for Basic listings. This ensures your payments and domains are handled with care and you aren’t left guessing who is handling your transfers.
- Our 24/7 Customer Support - including live chat - will still be an uninterrupted feature that anyone can utilize. In fact, we have recently increased our support staff to handle majority of buyer inquiries within less than 5 minutes. Our Customer Support is always here for our Buyers and Sellers to assist with purchasing domains, inquiries, or the transfer process.
- Squadhelp will remain active in assisting pricing negotiations for buyers and sellers in order to ensure a successful closure of purchase inquiries.
- In addition to this, all Basic Listings will receive a highly optimized landing page. This can ensure a high conversion rate for buyers who might be interested in your domains!
- We also offer the ability for potential Buyers to search for these listings through a separate section of Squadhelp. This again can increase the traffic of potential Marketplace Buyers to land on your listed domain.
- You can also submit your Basic Listing domains to hundreds of relevant naming contests (in lieu of the contest award) and gain Marketplace traction and attention for your listed domains.
2. A New Listing Option: Basic Plus Searchable Listings
Beforehand, a handful of Basic Plus listings were only searchable via the Premium Domain Marketplace if they received a minimum of likes through contests entered. Now, Squadhelp will manually approve certain names that may not be a strong fit for Premium listing in our “Basic Plus (Searchable)” category! This means your Basic Plus listings - if approved - can be discovered easily and increase your chances of selling your domains!
What Does This New Classification Mean?
- If accepted, your domain will then be searchable in our Premium Domain Marketplace.
- In addition to this, you will only pay the same low commission of 25% of the selling price (or $400, whichever is greater) as our Basic Plus Listings.
- If you decide to remove your Basic Plus/ Searchable listings, you can simply Delist them at any time without a 7 day notice.
- Please keep in mind that these Basic Plus/ Searchable Listings do not come with a logo design - and therefore, they might rank slightly below other similar listings which do have a logo design.
3. Changes to Premium Domain Commission Structure.
In order to simplify our Marketplace commissions, we’re making some changes to commissions for Seller owned domains. For any new domains submissions, we are splitting the commission into two parts: An upfront review/ submission fee and a reduced commission when the domain sells.
- For any new seller owned domains, there will be an upfront $1 fee to submit them for a premium listing review.
- As a result of this upfront fee, we are dropping our commission rate for any newly submitted seller owned domains to 30% (priced at $5,000 or below)
Over the last several weeks, we have been experiencing a significantly high volume of Marketplace submissions, and we believe these changes are necessary to ensure an efficient review process and manage our marketplace growth. We expect the upfront fees will likely reduce the number of marketplace submissions (especially from casual sellers), allowing us to grow our Marketplace listings at a more measured pace so that we can continue to offer industry leading sell through rates to our sellers.
These changes will also allow our Marketplace sellers to compare our commissions more easily with other alternative options.
- The $1 submission fee does not apply to SH registered domains.
- This change does not affect any approved commission rates for existing listings that were previously submitted without the $1 review fee
- In order to pay the $1 submission fee, you can purchase “Squadhelp Coins” from your Marketplace dashboard. You can also apply your Marketplace balance towards the purchase of Squadhelp coins.
4. Pricing Flexibility
Sellers will now have the ability to increase the selling price of any of their premium listed domains all the way to $2399 directly from their dashboard. This applies to both SH registered as well as creative owned domains.
In addition, Sellers can now increase the maximum selling price for their Basic and Basic Plus listings to $2399 (previously, there was a $1799 limit on Basic and Basic Plus listings).
We are excited about all these changes, and are looking forward to continue to add more features that will benefit our creatives, sellers and customers. Please continue to share your feedback, and thank you for all your support!