Founder of Money.com.au acquires MortgageBroker.com.au domain name for $295,000 to boost home loan market expansion.
Serial Australian domain digital assets buyer and founder of Money.com.au, Shaun McGowan, has expanded his online brand portfolio with the acquisition of MortgageBroker.com.au for a staggering $295,000.
Due to the fact that many people no longer trust purchasing expired domains in Australia (you can read about the expired domains market monopoly here), many Australian entrepreneurs are buying premium domains directly from existing owners. Or, if you see a valuable expired domain dropping, many Domain Investors we’ve spoken to now choose to let it drop for a few hundreds dollars, then offer the new owner a few thousand dollars to purchase. Works out much cheaper in the end. This is due to the fact that many people no longer trust the expired domain process in Australia.
With over 70% of Australians choosing to use a mortgage broker, McGowan says there’s a gap in the market for a home loan comparison tool that seamlessly connects borrowers with brokers online. “Borrowers want options and the ability to work with trusted professionals when making what is arguably one of the biggest financial commitments of their lives. However, after comparing loan products online, they’re often simply passed on to a lender who may offer a product that isn’t the best fit for their needs,” he says.
“MortgageBroker.com.au has launched a new site to serve as a one-stop hub where borrowers can compare home loan products, check interest rates, and connect with mortgage brokers who can explain the different loan options and educate them on the home buying process.”
“Owning the exact-match domain MortgageBroker.com.au will allow us to capture a share of the 20,000 Aussies searching for ‘mortgage broker’ related terms each month.”
The recent acquisition of MortgageBroker.com.au for $295,000 marks one of the largest ever sales for a ‘.com.au’ domain, with Money.com.au also holding one of the top spots at $400,000. Money.com.au is now one of Australia’s largest comparison sites.
McGowan’s first major success in buying and selling domain names came when he owned Beep.com.au, generating $60 million in volume. After rebranding under the CarLoans.com.au domain which he acquired in 2012, the business saw a 60% growth, with volume exceeding $100 million — all attributed to the domain name change.
McGowan says while premium domain names like MortgageBroker.com.au come with what seems to be a high price tag, they represent a valuable long-term investment.
“Premium domain names not only increase the value of a brand but also improve consumer trust. When a domain name helps identify a website as an authority in a particular field (like mortgage broking), it improves search engine rankings and reduces marketing spend,” he says.
“This means we don’t have to rely on ad spend, we can hire more people, and, more importantly, invest those resources to improve the customer experience and deliver better value across the board.”
Nice one Shaun! Imagine that on the back of a car or on a TV ad – no need to tell people what you do, it is plain and simple in the name, meaning no words or space wasted cluttering up the screen (or vehicle)
$295,000…. Really?
Yes, really, of course….
If someone pays this much for a domain, you better believe they intend to make 10 times that amount, within the first 12 months of full development launch. Shaun has a track record of paying high prices for domains he fully researches, and then he always knocks the development out of the park and the people come and use and love the service.
DBR Domain Broker had a client that paid over $400k for a three-letter domain. When this happens, they know they are going to make more than they paid.
The question we all need to ask ourselves is…. Which awesome domains can we develop ourselves? Instead of leaving them sitting on the shelf, crossing our fingers hoping someone wants to buy them…
A Fantastic sale and a wise branding investment.
It’s common sense to use a generic domain name. Something nearly everyone understands and can easily spell type remember.
Well done Shaun…. Again!