Today we want to share with you an interview with Jason Eisler who’s sale of LocalFlorist.com landed at the number 7 position that appeared in one of DN Journal’s weekly domain sales charts last month. Jason operates 2 sites powered by DMP, his primary one is his domain brokerage, DNAdvisor.com, and another marketplace at The Domain Baron. Below, Jason shares a little about himself, the story behind the sale, and offers some personal advice to other domain sellers/brokers. You will not want to miss it. So here goes:
Tell us about yourself and how you got into domaining?
I graduated in 3 years from the University of Arizona with a degree in Economics. With a background working on Wall St. and with over 10 years of sales experience in the collateral loan brokerage industry, I recently made a shift into the domain industry. I launched and founded a boutique domain brokerage DNAdvisor and have more recently become the Director of Sales for .Club domains. While I may not have more years of experience in the domain industry as many other domain brokers, being just 2 years into this rapidly changing industry I am able to look beyond what other brokers have been doing for years in the past, and I am able to stay focused on what the domain industry will be doing tomorrow. I stumbled into domaining by accident. I was looking to get involved in the affiliate marketing space, when I started to narrow down my search for a particular niche, I wanted to focus on I realized I needed a domain name because I wanted to create my own hub, and not drive traffic to Amazon, or Facebook or other social media sites. I wanted to drive traffic to my own website, so I could create an email list and track visits etc. For this, I quickly learned I needed a domain. As an avid learner and a huge proponent of continuing education, I started learning all that I could on domain names and soon realized there was far more money to be made in the domain space than the affiliate marketing space and have never looked back since.
You recently sold LocalFlorist.com that made it to the top 10 sales of the week on DN Journal. What can you share about the sale such as, how much was it acquired for and how much did it sell for, and what led to the sale?
The sale of LocalFlorist.com actually has an interesting story. The previous/original owner Alex Frost hand registered it back in March 2000. He (Alex) is in the floral industry himself and owns/operates Floravina which is a DIY flower arrangement company. Alex recently joined the Startups.Club incubator that houses approximately 10 startup companies in Ft. Lauderdale FL along with it being the headquarters for the .Club team. Alex has a small but very old portfolio of domains he registered back in the early days of the internet. So hopefully this (LocalFlorist.com) will be the first of a few sales I will be able to help Alex achieve. So, I am not quite sure what the prices were to register a .com domain name back in 2000, but it was at hand registered price and it recently just sold for $12,500.00 I had shopped this name around to all the major floral companies 1800Flowers, From You Flowers, Teleflora, and Bloom Nation. It came down to 1800Flowers and From You Flowers, little did I know that the same week I sold LocalFlorist.com to From You Flowers Dave Evanson completed his sale of Plants.com to 1800Flowers which successfully sold for $450,000.00, so it goes without saying 1800Flowers were slightly more interested in closing Plants.com than LocalFlorist.com.
What do you credit your success in domain sales/investing to the most, and what advice do you have for other domain sellers and/or investors?
The domain industry is a hyper-changing industry, so I think that in order to be successful it takes a lot of time and dedication to research and study the industry. This is especially true because the domain industry is vastly different than any other industry being that all the data and sales are not public. For me, staying on top of industry information and trends and reading all industry related publications such as, Ron Jackson’s DNJournal to see the names and prices of the reported sales is critical. As I always say, the domain industry is probably the smallest industry that caters to the entire world. Having said that, knowing what is being bought and sold and at what price points is essential for converting sales. You must also be realistic about your domain names. What I mean by this is, all domain investors think their domains are THE best and that everyone in their right mind should be knocking down their door for their domains/assets. But of course, they think this otherwise they wouldn’t own them. Another key is knowing when you get a good and best offer from the right end user is and accepting that offer and getting that asset into the future owners’ hands. Then, use that money to re-invest into better, more lucrative assets (domains) and continue to scale your growth and bottom line. So, I guess this was a long way to say I credit my current success, and I emphasize current because this is an ever-changing market, to a lot of hard work, focus and being super diligent in continuing to study and learn market prices and being realistic. At the end of the day domain investors and brokers want to get these assets (domains) into the right end user’s hands. But you need to know the supply and demand of the market. Domaining is a full-time job, you need to immerse yourself in this industry to know what’s going on day to day. And remember every vertical is different. Some verticals command larger sales prices (such as health, medical, technology) and some are very niche and no matter how good your name is, that doesn’t necessarily mean it will convert to a larger sale. Lastly, my best advice would be to study the industry, pick your vertical or niche and be realistic. Then SELL SELL SELL and reinvest that money into better names better verticals and continue to scale and grow.
Thanks for sharing your insights with us, Jason. Great advice. Congrats on the sale. And wishing you and all our readers lots of success in 2019!