IT.COM

question What would you do when buyer is dragging his feet?

NameSilo
Watch
Impact
559
Here is a little background:

I have a two word .com domain name:
  • A buyer contacted me out of blue and asked for a price back in September. I did not see it.
  • The buyer made an inquiry again in October, I replied $20k
  • The buyer countered $7,500
  • I countered $15k with possible payment plan or lease to buy
  • The buyer countered $500 per month for 24 months ($12k) via Escrow.com
  • I asked for a down payment plus monthly.
  • Then nothing back from buyer for a week, I asked if the buyer still interested, if not, I'm moving on.
  • The buyer replied that he needed more time.
  • So I replied: let's reconnect after the holidays.
  • On 1/3 I send an email to the buyer again asking if he was still interested, if not, I'm moving on.
  • The buyer replied that he is still interested, give him until the end of the week to catch up because he's just back from vacation.
Additional information: the buyer owns the same name in .de and redirects to his German named .com website. Someone developed a website at .net domain name, I'm not sure it was related to this buyer.

Now, what would you do in this situation?
 
1
•••
The views expressed on this page by users and staff are their own, not those of NamePros.
Keep trying to sell it while working with him. Not hurting anything letting it continue what it does now.
 
0
•••
It's normal for end user. They are not domainer.
I just sold a LLL.net for $4,500 and it took them 3 months to complete the purchase.
Remind them once in a while but don't push.
 
6
•••
Well.... You have a potentially ideal party interested in your domain. You have already agreed to price (kind of). That in itself is a huge part of the process. You can only give them the opportunity to purchase and a friendly reminder is ok too. Continue to offer the domain for sale and do not forget this person if other offers roll in. A little competition for the name could spell a somewhat larger payday. Best of luck.

Oh..... Ask yourself if you are willing to drop the price for a quick sale. This might seal the deal. I hesitate to drop prices myself, especially if a deal was already struck. Only do so if all else fails.
 
2
•••
Not much you can do, he doesn't have the funds in place, and is probably trying to raise funds, or develop some sort of business plan.

I would just put him on a 30 day time out, if he comes to you fine, otherwise your going to push him to walk away, or back out of the deal completely.
 
4
•••
I send an email to the buyer again asking if he was still interested, if not, I'm moving on.
Moving on to where? Do you have other buyers lined up?
 
2
•••
Setup payment plan on lander and leave it - send 1 email and maybe he'll see the urgency before another buyer comes along and takes it

$500 per month for 24 months ($12k)
 
1
•••
Setup payment plan on lander and leave it - send 1 email and maybe he'll see the urgency before another buyer comes along and takes it
I would put a higher down payment, first payment like $2,500, that way are they more invested, as most projects fail, and defaults are pretty high on the domain side when it comes to mid sized domain plans.
 
0
•••
Moving on to where? Do you have other buyers lined up?

I've started to create micro sites for my domains, if it does not sell, I'll just build it out to have Google AdSense and Amazon affiliate links and go from there.
 
2
•••
what you can do is:
read some books on ZEN

read "black swan" blog on negotiation tactics

remind him like every 3 weeks in a
polite and non-pushy manener

kind of

"what can I do to help you with the acquisition of the domain xxx? "
 
2
•••
Now, what would you do in this situation?

Wait...just wait. Put the pricing in place you want whether buy it now and/or financing arrangement as agreed.

Send a short and professional email such as: Hello x, I am just letting you know I have put acceptable pricing options in place and I will leave it there for 72 hours to give you time to take advantage of the discount I have extended to you. After that time it will revert to my original asking price. Thank you for your interest in my domain name.

Most importantly, DO NOT contact anymore (at least for a month) as desperation to sell is your biggest enemy.
 
2
•••
I would do as you mentioned twice to him already and move on.

I would inform him that any financing option is off the table but you will revisit a sale if and when he is ready in the future.

This way it's a give and take and you have stood by your decision and he can still purchase if needed.

It's a best case scenario in my opinion.
 
0
•••
Totally panic start a thread a name pros or play waiting game as always instructed.
 
1
•••
Totally panic start a thread a name pros or play waiting game as always instructed.
You win this thread !!! :-P
 
0
•••
  • The sidebar remains visible by scrolling at a speed relative to the page’s height.
Back