subject: Price Tag On Success: How Reliable Are Domain Name Appraisal Services? [print this page] Having a domain name of ones own is akin to owning an actual business and
baptizing it with a suitable long-term designation. It entails doing research
on what name will attract the most customers, as well as on what combinations
of words will be most memorable, so that customers keep coming back to
purchase your goods and avail of your services. It involves knowing exactly
what customers want now, or in the future, so that you can have a name that
will sustain you through the growth of your company, or changes that might
have to be made in it.
Registering a business name will also require you to pay standard fees, all
of which will not matter whether you have three, four, or five words set up
to name your business. The issue, however, changes when you are operating
online. Because customers cannot see signs or look at logos when they want to
visit your store directly, they will need to type a domain name into their
browsers. You will thus need an easy-to-recall domain name the easier it is
to recall, and the more popular or in demand the domain name is, the more
expensive it will be.
To determine the amount you have to pay to purchase a domain name, you will
need to have an expert appraise it. There are now several domain name
appraisal services operating online, all of which base their calculations on
domain name popularity, the nature of your business, the extension you wish
to purchase (be it a .com, .biz, .info, and the like), and the duration of
your use of the domain. Because domain name appraisal services make use of
records and statistics to produce reports for you, you will need to pay them
fees for their work. Such domain appraisal service fees can be expensive, not
to mention daunting for small to medium-sized business that have yet to see
their companies grow online.
If you are a company hoping to make its mark online, then you will need a
good domain name for your site. There are also a few facts that you must know
about domain names and domain name registration. Take note that after you buy
a domain name, you have to register it, so often, appraisals will contain
information on the fees you have to pay for both aspects.
First of all, registration of domain names is regulated and standardized, so
that there are standard registration fees. What is not regulated nor
standardized, however, is a second-hand domain. You can buy second-hand
domains from companies similar to yours that have nearly the same name, but
chose to buy another domain name for another year. Beware, however: many
online crooks buy domain names at very low prices, and then sell it to
companies at extremely high prices. Be on the lookout for such crooks and
report them to authorities.
Because second-hand domains do not fall under any regulation, you have the
license to bargain. Domain name appraisal services are not there to help you
bargain. Often, they will justify why certain domain names are priced very
high. Be careful when choosing domain name appraisal services, since some
services will often make estimates on domain value based on a persons
opinion, or advice from a third party. You must remember as well that you are
not the only person engaged in business: a domain name appraisal service is
also a business, and it will seek to get the most money from you.
Second, you must know what factors determine the cost of a domain name. The
length is only one aspect of the domain name: not all lengthy names are hard
to remember, so if your company is already well known offline and has a long
domain name, do not believe an appraiser if he or she tells you that you must
pay more fees to purchase the name. Because English is widely spoken online,
English words will often cost more on a domain name. Some domain name
extensions, such as .com and .net, will be more expensive because they are
more widely used.
By virtue of its being a business, however, domain name appraisal is not
necessarily an evil that you must avoid. You must only know how to choose the
appraisal service, and be bold enough to ask for price breakdowns and
justification on price. Moreover, you must also do your own marketing
research so that you will know exactly what you pay for, and if you should
