I like this idea!

[neddy]

That Frank Schilling is one smart guy. No wonder he is a leader in our industry - he is always innovating.

Great article today on "The Domains" today by Michael Berkens.

"Frank Schilling Rolls Out Automated Finance System On DomainNameSales.com"

http://www.thedomains.com/2013/03/1...omated-finance-system-on-domainnamesales-com/

I guarantee that his platform will get a lot more sales (though there will probably be a few defaults along the way as well).

Kudos to him.

 

[Chris.C]

Indeed what I love about Frank is that he just gets out there and makes it happen and in "scratching his own itch" he then turns around and offers a great platform for all the other domainers out there.

Big hat tip.

That said, I'm not as confident about "doubling" sales, but I think it will help pick up an extra 30% or so.

What I think this does help with is the "I only have $X and can't afford to pay more" customer, to which you could then say "no problem, well $X will more than cover the deposit and first few installments at which time you will hopefully have increased business coming in from the new site continue to pay the installments". So in this sense I think it has the potential to also achieve better sales values.



Also if terms are favourable for buyers I think this has great potential to help sell the BIGGER ticket domains, particularly if the upfront deposit is small and the buyer has the option to walk away at any point. This model has the potential to bring in a lot more undercapitalised buyers and young entrepreneurs.

 

[findtim]

BRILLIANT, thanks ned for sharing.

you may note i have been on this leasing bandwagon for some time and thanks frank for solving it, i think it is a GREAT system, its win win which i always look for.

in oz i think we need a legal document or its going to go to sh*t, i can just see the client saying " but you never said you'd take it back if i didn't pay "

tim

 

[findtim]

Further to this i think there should be a "buy now" price and a "lease now" price

if i'm going to have a $5k name tied up for 2 years on payments then i would expect to be getting interest on it.

tim

 

[Data Glasses]

Franks names are not cheap so you can pay interest on a high price as well !

 

[chris]

As Chris said, it will be the perfect option for buyers who say "I would buy it if I had $x" and gives people an easy way to get something that might have been otherwise out of reach.

 

[findtim]

Franks names are not cheap so you can pay interest on a high price as well !

just like real estate

tim

 

[Data Glasses]

just like real estate

tim

In this instance the two really do compare !