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Accepting/countering first offer

Labeled as debate in General Domain Discussion, started by DnFolk, Jul 4, 2020

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923

  1. DnFolk

    DnFolk Top Member Epik.com Staff VIP

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    Somehow right from the start i have always countered any first offer that i have recieved irrespective of the domain name or the amount of offer. this also includes offers that are more than the bin at other marketplaces. Though I have sold domains at the original first offer of buyer but this not without countering it initially and trying to get more. Sometimes i have got successful and sometimes not but it became like a rule for me and result was more or less fine until now very recently in past two months where my this strategy has backfired big time. I must have lost more than 20 such deals because i then simply do not get any response after countering. This also includes an offer of 1000 euro on three word name that i had handregged few weeks before the offer, which i countered and no response for almost one week now. Maybe some of offers could be fake but still at least few were genuine when i researched about the buyer name and that niche. This could be because competition is tooWith such recent experience it makes me rethink about my long term strategy on this.

    Another uncanny thing that happened with me lot of times in past few months is buyer having very less patience or seem in hurry to buy the name. For example one offer recieved 2495 i countered 2995 in about 1 hour or so only to get no response. Then after 24 hours I sent message about any update and the reply i got is they went with another name for 2495. It was before i countered 2995 otherwise they could have considered it as my name was their preferred name.
    Second example offer recieved 1000 i countered 1995 in 25 mins but buyer rejected and sent a message they already bought another name i was like wtf dude i asked if you don't mind can you share the name and price which he did. The another name that he bought was for 1795 and he told he wouldn't have any problem to buy my name at my asking price had i been more fast. Since these two sales happened at dan i did confirmed those through landing page. This was frustrating and i just shared two examples when there were several similar incidents in past few months even where i replied after 12-14hours and it proved late, i was surprised. This could be because competition is too high these days specially in brandables.

    Just wanted to share, you can also post your thoughts/views/approach on this or any similar experience you ever had regarding it.
     
    Last edited: Jul 4, 2020
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  2. bonin

    bonin NamesBefore.com VIP

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    I have similar problem since March this year. I lost around 5-6 sales simply because I didn’t accept their first offer
     
  3. nhauctions

    nhauctions Established Member

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    If buyers are in a rush to buy, maybe you could consider experimenting with just a BIN price without any option to make an offer. That way they could just buy right away.

    Your experience sounds pretty frustrating though. I usually counteroffer as well, although I wouldn't if the offer was close enough to the asking price.
     
  4. karmaco

    karmaco Top Contributor VIP

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    We are in a difficult year for most people. This is bound to seep into sales on some level. People seem more irrate, impatient and cheap. That doesn’t mean someone else won’t buy the domain later. I never talk to people beyond the negotiation. Surprised you got so much info out of them. I highly doubt it was about slowness or price as you seem to price domains very reasonably.

    I too never accept the first offer as first offer is often very low and even more often routine fake offers. I had two similar experiences last few months people begging for a name, in a big rush, please accept my offer and 30 to 45 minutes later they ghost you.

    In general for me the counter is not something I always do if they are too far off from my desired price. I just add a BIN and let them know the name will be available at that, my lowest price,for a specified time period.

    I don’t think there is any perfect way to handle inquiries but in the most general sense it has more to do with how much they want or need that domain than anything we do. There will always be tirekickers, people uncertain what they actually want, people with unrealistic expectations on the price of a domain,etc.

    I do think people can shoot themself in the foot (not you) by being too eager to let a domain go at any price and appearing super desperate. This is an ebb and flow kind of gig. There will be down trends and there will be times of abundance.

    As long as you know the value of your most valuable domains and why and what not to compromise on- the rest will fall into place.
     
  5. Windoms

    Windoms Top Contributor VIP

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    This is all true,
    But for vast majority of us.

    Know where you stand.
    Know you have to grow.
    Price vast majority of your domains fairly.
    Sell and grow.
    If you want to grow.

    I dont believe make offer is for any domain under 5k.
    imo, fair bin 2k is better than hesitating 5k.

    The "as long you know the value of your domains" is true, but if you dont have 1000+ portfolio of good names, you have to be smart with how to get there.

    Which is the right thing to do.
     
  6. biggie

    biggie Top Contributor VIP ★★★★★★★★★★

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    Hi

    sometimes, from the buyers perspective, domain buying can be an impulse decision.
    they have a thought, and then go act on it, by submitting an offer.

    when the offer is not accepted, it's a rejection to them... which can set off emotions.

    and when you the seller, asks for more $ and the potential decides they don't really 'need' your name, then they move on.

    only when that buyer really needs or wants it, will you have better chance with counter offers.

    imo...
     
  7. sircc

    sircc Established Member ★★★★★★★★★★

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    Setting realistic BINs for most domains improves your chances of making sales. If nothing else, it removes stale negotiations (time wasters) of "make offer" sales.

    You might as well have set a BIN from the very beginning and avoided the tire kickers.
     
  8. jmaurya

    jmaurya Top Contributor VIP

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    I received $1 offer
    Accepting :xf.grin: or countering (n) ?

    Accepting or countering depend upon offer price
     
  9. shojib

    shojib Top Contributor VIP

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    hahaha
     

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