question Accept the lowball offer or work harder?

[Candace]

You purchased a domain name on the drop. You've reached out to a few end users but haven't gotten to your entire list of possible end users just yet.

You've gotten a positive response from one end user after holding the domain for about two weeks.

He gives you a low ball 'final' offer. (like $500 on a domain that is worth about $3000 according to the wholesale comparables)

Would you
1. Accept the lowball offer because your ROI would still be awesome and it would be one of your first couple sales

2. Reach out to more end users (after all you've only had the name for two weeks, and you've not contacted all the possible end users just yet)

 

[platey]

It depends on how fast you need the money and if you develop it how good is the ROI

exactly

 

[imadoer]

I tend to take the money..

Ask your self this question if you sell it for $500 can u buy a better name with $500?

If not don't sell it unless u need the money

 

[DU]

When did $500 become "lowball".

Domainers are greedy mofos who expect to be able to buy for $60 and sell $6000 a week later just because it's been done before.

 

[platey]

one of the hardest parts of domain name investing is not knowing if the domain name they have is a good one or not

and also knowing when you have a good domain name & knowing when to keep it

and knowing that just because a person bought a good domain name for £10 knowing that is its a good quality .com could be worth £1000's

 

[platey]

I tend to take the money..

Ask your self this question if you sell it for $500 can u buy a better name with $500?

If not don't sell it unless u need the money

well said because if you sell a good quality domain name finding another domain name of similar quality will cost a person considerably more as the good ones are being snapped up

 

[Candace]

When did $500 become "lowball".

Domainers are greedy mofos who expect to be able to buy for $60 and sell $6000 a week later just because it's been done before.

This is an old thread from someone who was now learning and seeking advice.

I really hate when domainers do not know how to be polite, and either give advice or be quiet. Furthermore, when they do not understand that it is better to build relationships that to destroy, to encourage than to criticize.

But you know what? Maybe I naively expect way too much from people. I gotta realize that the haters always show up and spread their hatred, showing everyone their true colors in the process....out.

 

[DU]

This is an old thread from someone who was now learning and seeking advice.

I really hate when domainers do not know how to be polite, and either give advice or be quiet. Furthermore, when they do not understand that it is better to build relationships that to destroy, to encourage than to criticize.

But you know what? Maybe I naively expect way too much from people. I gotta realize that the haters always show up and spread their hatred, showing everyone their true colors in the process....out.

I was going to update my comment earlier because in retrospect I didn't think it was very helpful. It wasn't really targeted at you despite the way it seems (and that's my error) but at a seemingly growing trend where people seem to think that any name caught on the drop should magically be worth $3000 because that's cheap. There's a desire to view domains as some kind of commodity that 1% of the world gets and invests in and 99% of the world doesn't get and should pay for the privilege of buying something from a smart and helpful investor - it's just a finders fee for someone who wasn't looking.

What I find particularly frustrating is that forum members are always talking about not reneging on deals. Talking about commitment to deals and always following through because reputation is everything but no-one ever comments that with outbound marketing you are essentially invading someone's time and asking them to buy your name and should be ready to properly respond. Seeing if there's a way that you can delay the response while you work the market seems poor business practice me.

If you are asking you should be willing to respond with a price as @Kate mentioned. @johname also totally outlined key points but you accused of him of being judgemental - this is about initiating a deal prior to being ready and making the point that many companies already know about dropped names. I for one, would never buy domains from some people on this forum because you know at least 100-200 readily accessible companies have been blitzed with lies about how valuable the name is (or simply stared at a for sale lander). They're just frustrated and you can't assume you're their first call.

In short, I apologize for being curt and venting for prejudices I brought into the forum but I wanted to explain the rationale behind the post.

I did actually go back to the posts and look to see where the lessons learned were and I did miss you reference this thread as it was not a very well highlighted link:

https://www.namepros.com/threads/calling-all-wannabe-ballers.947728/#post-5539347.

This made me feel a little worse, in fact, because you actually did follow up and usually I read threads quite well before commenting. I've added the link here because I think it's informative and I do like it when feedback comes back on an event. The name isn't too bad either really but not something that's obviously $500 (spoiler alert)

Hope this apology suffices to build a bridge - I do acknowledge that I go through periods where I get a little ...err.... negative and should take a step back.

 

[Candace]

I was going to update my comment earlier because in retrospect I didn't think it was very helpful. It wasn't really targeted at you despite the way it seems (and that's my error) but at a seemingly growing trend where people seem to think that any name caught on the drop should magically be worth $3000 because that's cheap. There's a desire to view domains as some kind of commodity that 1% of the world gets and invests in and 99% of the world doesn't get and should pay for the privilege of buying something from a smart and helpful investor - it's just a finders fee for someone who wasn't looking.

I understand. I think a lot of people get this idea from many of the so called, "Domain Experts" on the different platforms. They talk about $3000 like it's pocket change. Maybe their hard work or getting in early or luck or whatever has afforded them that right, but I think it's misleading to newer investors.

What I find particularly frustrating is that forum members are always talking about not reneging on deals. Talking about commitment to deals and always following through because reputation is everything but no-one ever comments that with outbound marketing you are essentially invading someone's time and asking them to buy your name and should be ready to properly respond. Seeing if there's a way that you can delay the response while you work the market seems poor business practice me.

I'm not sure if you're speaking of my original post here. I really wasn't trying to delay the response to work the market. I just wanted to know if I should take it and move on or if I should contact more people.

If you are asking you should be willing to respond with a price as @Kate mentioned. @johname also totally outlined key points but you accused of him of being judgemental - this is about initiating a deal prior to being ready and making the point that many companies already know about dropped names. I for one, would never buy domains from some people on this forum because you know at least 100-200 readily accessible companies have been blitzed with lies about how valuable the name is (or simply stared at a for sale lander). They're just frustrated and you can't assume you're their first call.

I definitely got Kate's point, and as I mentioned earlier in the thread I did respond with a price. I had already valuated the domain the best I knew how at the time based on some metrics which I outlined in the Baller thread. I will also acknowledge that if that was the point johname was making, I totally missed it. So, that's my bad.

I definitely get your point about other people contacting the same end-users. I hadn't thought of that before for whatever reason, so thank you

In short, I apologize for being curt and venting for prejudices I brought into the forum but I wanted to explain the rationale behind the post.

I did actually go back to the posts and look to see where the lessons learned were and I did miss you reference this thread as it was not a very well highlighted link:

https://www.namepros.com/threads/calling-all-wannabe-ballers.947728/#post-5539347.

This made me feel a little worse, in fact, because you actually did follow up and usually I read threads quite well before commenting. I've added the link here because I think it's informative and I do like it when feedback comes back on an event. The name isn't too bad either really but not something that's obviously $500 (spoiler alert)

Hope this apology suffices to build a bridge - I do acknowledge that I go through periods where I get a little ...err.... negative and should take a step back.

Apology Accepted, and I respect you for this post. Now I understand that it was frustration over a general trend vs hatred towards my outlook. Kudos to you. I totally understand the overall point you're making and I wish you create a thread to outline and discuss these points as I can learn a lot from such a thread. Not only me, but I bet many others will too.

With the spoiler alert, the name is what it is I guess. As I said in the other thread, I meant for it to be a brandable because of the mini shopping haul thing. In the end it went to a guy who'll make great use of it since he provides hauling services. He was really polite and he was happy to have the name. The transaction was an awesome experience for both of us and a bridge has been built

 

[Keral_Patel]

If you need money instantly then accept it.

Otherwise who cares. Just work harder.

 

[mad409]

@OP, I've said this before. A bird in your hand is worth two in the bush!

 

[DU]

I'm not sure if you're speaking of my original post here. I really wasn't trying to delay the response to work the market. I just wanted to know if I should take it and move on or if I should contact more people.

Understand - bad assumption on my part. To be clear, I don't think its wrong to employ delaying tactics as long as you're prompt in response (when outbound). Telling them you're waiting for other offers is fine in my opinion.

If it's an inbound offer you're under no obligation to do anything, of course. Replying may be seen as polite or lead further.

See you're writing on Ali's blog - seems like a good way to pick up knowledge.

Thanks for understanding.

 

[RJ]

Accept lowball offer
Work harder
Be patient and wait.

Good domaining strategy looks towards the future--the distant future. Be prepared to wait 5-10 years to see a return on some names.

 

[platey]

Accept lowball offer
Work harder
Be patient and wait.

Good domaining strategy looks towards the future--the distant future. Be prepared to wait 5-10 years to see a return on some names.

time adds value to a quality .com

and in the grand scheme of things etc - if a person buys a good quality one or two keyword .com of one of the new industries that are appearing almost daily eg 3d printing, drones, flying cars, electric vehicles, etc and buys the .com for £7.99 etc + add 20x renewal fees & {prepared to sit on it for 20+ years} eventually big money offers will start to arrive which will far exceed considerably any initial investment

and when i thing of the {be patient and wait} domain investing technique one particular investor comes to mind

but the be patient and wait game is one of the few domain name investing strategies that enables an investor to buy at cost and sell at premium whilst doing nothing

the only problem with the be patient and wait domain investing strategy is that people generally are inpatient by nature and can usually be tempted to sell at the first significant offer that show a decent return on their investment

the be patient and wait strategy is effectively guess what the next revolutionary invention will then buy the .com for £7.99 then extend it for 20 years and then hibernate

 

[DU]

Good domaining strategy looks towards the future--the distant future. Be prepared to wait 5-10 years to see a return on some names.

A good survival strategy also involves shelter and eating.

The problem with any advice on this is that every person is different.
The best domaining strategy is one that fits your current and future financial requirements.

and in the grand scheme of things etc - if a person buys a good quality one or two keyword .com of one of the new industries that are appearing almost daily eg 3d printing, drones, flying cars, electric vehicles, etc and buys the .com for £7.99 etc + add 20x renewal fees & {prepared to sit on it for 20+ years} eventually big money offers will start to arrive which will far exceed considerably any initial investment

Past performance is no guarantee of future results.... blah blah blah... 20+ years??!?
Also, a mediocre name now will still be a mediocre name in 5-10-20 years....

 

[Cdomains]

Also, a mediocre name now will still be a mediocre name in 5-10-20 years....

True 99.9% of the time, but things change.

New trends come and go.

A crap name today could be a great one far down the road.

It is possible.

 

[DU]

A crap name today could be a great one far down the road.
It is possible.

Keep dreaming the dream

 

[Cdomains]

Keep dreaming the dream

Like I said, not probable, but still possible.

 

[Kate]

A crap name today could be a great one far down the road.

It almost never happens. The exception could be made-up names. For example selfie was not a common word 10 years ago.
But domain names don't appreciate in value just with by growing older. One should not expect that patience alone will yield results.

 

[platey]

A good survival strategy also involves shelter and eating.

The problem with any advice on this is that every person is different.
The best domaining strategy is one that fits your current and future financial requirements.



Past performance is no guarantee of future results.... blah blah blah... 20+ years??!?
Also, a mediocre name now will still be a mediocre name in 5-10-20 years....

a mediocre name yes but a well chosen domain name if bought in advance will produce a great return on investment even if nothing is done except renewals obviously but a good domain name will find its buyer by itself over time