domains The old “we have a small project but would love your premium .com” Did not work with Rick Schwartz

[equity78]

Rick Schwartz shared what he deemed a successful Domain negotiation. It was quite comical, and illustrates something I have been saying to friends in the corporate world for years. "If you are going to try to buy a domain name, find out who owns the name and see if you can research them." Because someone would have to be batshit crazy to email Rick and offer $3,000 for a name like … [Read more...]

 

[Kass]

Then they shouldn't be in business, or looking to open a business, in 2024.

It would be like a guy walking into an open house for a mansion and offering them $3,000 for it and then coming back with a "Sorry, I'm just not familiar with the housing market."

"Then why are trying to buy a house?"

The very FIRST thing you do prior to acquisition is research, research, and more research, and long before you even step in the door.

And yes, Rick tends to go overboard, but these jokers are either a) drooling idiots or b) scam artists looking to steal a domain, so either way they deserve the horns.

But what can we say about the _non-newbies_ who in the "buyer-requester" section or in DM actually offer a maximum of a couple of dozen bucks (even if they scribble away tens and and hundreds of thousands of dollars in budgets) for good names? Should they be sent publicly/privately to hell?

 

[DomainRecap]

I mean, you can't compare real estate with domaining

Why not?

If you want to buy something, you first need to understand the market and get at least a range of recent prices paid for similar examples. Otherwise you're a drooling idiot.

If I asked you the going rate for a 460-acre farm in Southwestern Saskatchewan with 6 small 1700 square foot employee lodgings, a medium 3200 square foot guest house, and a large 5000 square foot ranch house on it, 7 barns, 3 large silos, a 16-car garage, and a 48-horse stable... you'd just give me the current, average going price, right?

Right off the top of your head, huh? Since you know the exact prices as of May 21, 2024 for every property in the world?

Obviously not, and first you'd have a to do a lot of research and hire a few real estate brokers to run the numbers before you even had an idea on how much to offer.

Same thing here and to excuse these hobos offering $3K for a premium domain is no different than someone offering $3K for a Picasso or $3K for a used Bentley or $3K for copy of Actions Comics 1 or $3K for a prime piece of real estate.

Idiots.

 

[SixFigures.ltd]

Why not?

If you want to buy something, you first need to understand the market and get at least a range of recent prices paid for similar examples. Otherwise you're a drooling idiot.

If I asked you the going rate for a 460-acre farm in Southwestern Saskatchewan with 6 small 1700 square foot employee lodgings, a medium 3200 square foot guest house, and a large 5000 square foot ranch house on it, 7 barns, 3 large silos, a 16-car garage, and a 48-horse stable... you'd just give me the current, average going price, right?

Right off the top of your head, huh? Since you know the exact prices as of May 21, 2024 for every property in the world?

Obviously not, and first you'd have a to do a lot of research and hire a few real estate brokers to run the numbers before you even had an idea on how much to offer.

Same thing here and to excuse these hobos offering $3K for a premium domain is no different than someone offering $3K for a Picasso or $3K for a used Bentley or $3K for copy of Actions Comics 1 or $3K for a prime piece of real estate.

Idiots.

Yeah yeah sure, I just hope you're smart enough to not reply to potential buyers in a way like Domain King Karen did.

 

[MKA]

Then they shouldn't be in business, or looking to open a business, in 2024.

I disagree. Most people are not familiar with the domain market, and they shouldn't have to be.

It's a type of asset class with no market equivalent. How do you justify spending so much money on bodycam.com when domains like probodycam.com and bodycam.online are available for registration? Especially when developers (who are supposed to be experts) will tell you to "get whatever," or "it doesn't matter."

It would be like a guy walking into an open house for a mansion and offering them $3,000 for it and then coming back with a "Sorry, I'm just not familiar with the housing market."

There are differences here.

Rick doesn't list the price for his domains. All houses will have the expected price listed in the ad so to not waste either the buyers' and the seller's time. You see the same thing at a car dealership.

Furthermore, you can easily compare the prices of houses in the same area, but what is a "same area" to bodycam.com? I doubt most people here would even be able to come up with a good corresponding sale and instead just look for sales in a price-class they think is warranted for the domain in question.

The very FIRST thing you do prior to acquisition is research, research, and more research, and long before you even step in the door.

Why? And what if the research misleads you? I mean research isn't always going to arrive at the seller's perception of the value, take EstiBot's appraisal.

You may not like it, but it's part of the research.

And yes, Rick tends to go overboard, but these jokers are either a) drooling idiots or b) scam artists looking to steal a domain, so either way they deserve the horns.

It's not justified to insult ignoramuses. No professional sales business would allow their employees to insult their clients under any circumstances. They would lose their jobs if they did what Rick did, and for good reason.

And this is in part what sours the perception of domain investors. If your price is justified you should be able to justify it, which may convince the client to return in a few years when he/she has the budget, or maybe browse your more affordable alternatives.

 

[DomainRecap]

Yeah yeah sure, I just hope you're smart enough to not reply to potential buyers

Obviously I don't but I definitely think it.

Rick is just in the "eccentric millionaire" phase of his life and just isn't taking any more crap from these nitwits and lowlifes. He's like The Punisher for the domain community.

 

[DomainRecap]

It's not justified to insult ignoramuses. No professional sales business would allow their employees to insult their clients under any circumstances. They would lose their jobs if they did what Rick did, and for good reason.

As Rick will tell you, these bozos are NOT clients of his, and as the owner of his domain enterprise, Rick can do and say anything he wants (within the limit of the law) and no one is going to fire him. He treats his real clients a lot better, trust me.

And I'm not supporting what he says or how he acts, I'm supporting his right to do so.

You or I cannot even imagine the sheer number of ignoramuses he deals every single day with a portfolio like that. I think it's gotten to the point where he slaps these lowballers down like you would slap a mosquito on your arm.

 

[SixFigures.ltd]

Obviously I don't but I definitely think it.

Rick is just in the "eccentric millionaire" phase of his life and just isn't taking any more crap from these nitwits and lowlifes. He's like The Punisher for the domain community.

I'm an old-fashioned, such behaviour is unacceptable for me.

 

[MKA]

As Rick will tell you, these bozos are NOT clients of his,

Anyone who reaches out with an offer is a potential client. Maybe not today, and maybe not for the particular domain they're eyeing. But they might return or show an interest in an alternative more in line with their budget. But in order for that to happen you (the seller) have to maintain good relations with your potential client and give them the impression that you know what you're doing and that your prices are fair.

and as the owner of his domain enterprise, Rick can do and say anything he wants (within the limit of the law) and no one is going to fire him.

The point wasn't that he was going get fired. The point was that there's a reason why a car salesman who behaved like this would get fired: Because it's bad for businesses.

And I'm not supporting what he says or how he acts, I'm supporting his right to do so.

It's not about his rights. It's about poor business practices, and the needless souring of relations with potential clients.

You or I cannot even imagine the sheer number of ignoramuses he deals every single day with a portfolio like that. I think it's gotten to the point where he slaps these lowballers down like you would slap a mosquito on your arm.

That reasoning doesn't hold. Because "Sorry, not interest." followed by silence is a lot less time consuming and a lot more effective than engaging in this juvenile behavior.

 

[karmaco]

Bunch of pearl clutching snowflakes at NP lately. Anyone offering a couple K in 2024 for a long regged high caliber name or dictionary word in com is an idiot and deserves a curt reply if they get a reply at all.

You are in the wrong business for sure if you want to sing Kumbaya and be besties with a potential buyer.

You are doing this for the highest ROI you can obtain not to be nominated most polite (and likely broke) domainer or make friends with your customers.

These are all one offs and you will not have repeat customers like other businesses unless you have an enormous portfolio .

Every highly successful domainer has a bit of Rick in them. Desperation or extreme politeness or "educating" end users does't sell domains. The name and the desire for that name sells it.


No one can say Rick hasn't done extremely well just being Rick.

 

[MKA]

Bunch of pearl clutching snowflakes at NP lately.

It's not about being nice, it's just that being amiable to your clients is part of not being an idiot. A competent negotiator will convince his clients that the domains they're looking to buy are fairly priced, and the first step of that process is for the negotiator to earn the client's trust as an expert on the subject.

Anyone offering a couple K in 2024 for a long regged high caliber name or dictionary word in com is an idiot and deserves a curt reply if they get a reply at all.

Then why even waste your time with a reply?

You are in the wrong business for sure if you want to sing Kumbaya and be besties with a potential buyer.

This is a grown man throwing a temper tantrum over an offer.

You are doing this for the highest ROI you can obtain not to be nominated most polite (and likely broke) domainer or make friends with your customers.

The highest return-of-investment comes from having good domains and being a competent negotiator. It's additive. If Rick can sell a domain for a $100,000 I wouldn't be surprised if I could sell it $125,000 to the same client. That's the difference between an incompetent- and a competent negotiator. That's why your car salesman and real estate act the way I do, because that's how money is made.

These are all one offs and you will not have repeat customers like other businesses unless you have an enormous portfolio

Bullshit. I've had numerous clients return to me months and years after a failed negotiations with augmented budgets. It happens, and if it doesn't happen for you then that might be because you're burning bridges like our friend Rick here.

Every highly successful domainer has a bit of Rick in them. Desperation or extreme politeness or "educating" end users does't sell domains. The name and the desire for that name sells it.

There's no desperation on my part. I'm confident in the prices I negotiate. The amiability is simply there to instill commitment in the buyer.

No one can say Rick hasn't done extremely well just being Rick.

If you have good assets you're going to do well even if you are incompetent, but you'd do better if you were competent.

 

[Alop]

As Rick will tell you, these bozos are NOT clients of his, and as the owner of his domain enterprise, Rick can do and say anything he wants (within the limit of the law) and no one is going to fire him. He treats his real clients a lot better, trust me.

And I'm not supporting what he says or how he acts, I'm supporting his right to do so.

You or I cannot even imagine the sheer number of ignoramuses he deals every single day with a portfolio like that. I think it's gotten to the point where he slaps these lowballers down like you would slap a mosquito on your arm.

it wasn't the mosquito its the fly for me. MKA covered it

If you have good assets you're going to do well even if you are incompetent, but you'd do better if you were competent.