Update to the Marketplace - Downtime

We have made an update to our marketplace to minimize the “downtime” associated with purchased domains. If a domain is purchased by a customer, it will no longer will be removed immediately from our website. It will only be removed from the website after we have transferred it to the customer. This way, if the customer decides not to move forward for some reason (such as Trademark issues), the domain will still be available to other potential buyers during this period for purchase.

During this validation phase, other buyers will be able to purchase the domain (however we will show them a disclaimer that the name is pending a purchase from a potential customer). If for some reason, the purchase from the original customer does not go through, the domain will be sold to the second buyer.

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Excellent move! Nice work SH.

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Thanks for this. I think this will be a great improvement.

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Thanks for trying to make the purchase process better for sellers. Not sure how many buyers would pay money when a domain is already bought, for the off chance something will go wrong with the other buyer. But time will tell. IMO, it would be very helpful to add a predefined time frame for transfers to happen in. Buyers are sometimes leaving things up in the air for whatever reason, wasting your team’s time by having to chase after them and leaving sellers waiting for many days wondering what’s happening. As it is, the audience testing service and trademark check can delay the process and add to the odds a sale will be cancelled. I can understand why you’re offering these services, but from a seller’s perspective- they only seem to make things more complicated and can reduce the amount of sales. Buyers knowing that they have to accept the domain within X amount of days or the deal is cancelled might be helpful in giving a sense of urgency to the transaction. Either way, please continue to brainstorm on ways to help us (and SH) maximize profits while keeping transactions as simple, short and painless as possible. Thx!

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I feel instead of saying ‘Pending a purchase’ can it be said, its on hold by a potential customer. In my opinion , I might not buy a domain which is discarded by someone else, always in the back of my mind it will ask why the other person decided not to purchase… but I truly appreciate the initiative.

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Making a lot of sense here!:raised_hands:

1 Like