Foreclosure.com Founder, President and CEO, Brad Geisen, announced today that he has reached an agreement with “Domain King” Rick Schwartz to acquire the domain name “Property.com,” paving the way for his entry into a new market.
With Property.com Geisen intends to create a one-of-a-kind — and convenient — one-stop online real estate marketplace that is easy-to-use and navigate. The Web site will serve as an easy-accessible national real estate classified that is going to be free to all visitors, providing sellers, buyers and investors with a whole new concept of marketing and finding homes on the Web.
To those who remember Rick bought the domain about three years ago for USD 750,000.00.
Here’s how I see it: Some you win, some you lose, key is to win more than to lose. This one, from what I heard and know, is a BIG win.
Congratulations in place to Rick and Brad!
Sahar
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hi Sahar,
If I read the title of your post well, an 8 Figure USD Value Deal would mean that Rick’s got his asking price of $10Million.
A buyer would not pay more than the asking price I guess.
Anyway, It’s all good news for the industry.
Congratulations to Rick and Brad.
The Property.com sale should be a mainstream news item. I’d really enjoy seeing this one on the evening news.
Well done sales!
Congrats to Rick, always a rich sale.
Even cooler than the evening news; seeing the sale on Bido.com
Great news - and not surprising. It’s still unbelievable how many (experienced) IT colleagues still balk when I relay news about a midrange generic sale (say a .org or .net) for 5 figures… and these are people who supposedly “understand” what a domain really is.
Just wait until the real levee breaks on domaining being a true investment vehicle.
As some of the more well known domainers have said: don’t sell.