Dominion.Domains

Accepting Lowball Offers

Discussion in 'General Domain Discussion' started by Scotty205, .

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  1. Scotty205

    Scotty205 Established Member

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    Hey all, we all get lowball offers from time to time but my question is what makes you except the lowball offer? I have been kinda lucky that I have'nt really had any until just recently. Example, I am marketing a domain that has over 60 end users, so lots of competition and good keywords, an exact match 3 word domain. My email tracker shows lots of opens, so I know there is lots of interest. I am marketing it at $800, which actually is on the low end. So, I got 3 offers this morning, $150, $200, and $300. Now, I have'nt responded to any of these because I think the domain is worth more. If you are in a similar scenario what do you do?
     
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  2. Asfas1000

    Asfas1000 Active Member VIP

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    Consider starting an auction...fear of missing out may propel them to spend more.
     
  3. Pierre Barnard

    Pierre Barnard Active Member VIP

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  4. Scotty205

    Scotty205 Established Member

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    Yes sir, I totally agree with you! I am not a greedy person.
     
  5. Pierre Barnard

    Pierre Barnard Active Member VIP

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    @Scotty205 I guess what I am trying to say is that there are alot of factors that goes into these decisions..amongst them:

    - What did you pay for it? (Will you make a decent profit).
    - How long have you had the domain.
    - Do you need money - right now?
    - How many offers have you had?
    - Dnpric.es or Namebio similar sales
    - Your gut feel

    etc.

    Sometimes, just getting an offer (any offer) feels like payday to me...

    If I may ask, did you include the $800 pricetag in your outgoing email?
    I am very interested to know the name as you mentioned that it is 3 words...
     
  6. Scotty205

    Scotty205 Established Member

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    I am a fast flipper, lol, meaning I market and try to sale as soon as I buy the domain. I paid reg fee for the domain and bought it not long ago.
    Do I need money? Sure, I had to pay $2,000 in taxes so would $300 be nice, absolutely!
    I have had 3 offers but the email went out today.
    I am a Namebio addict so I think the price is justified. I have been in real estate so I understand comps.
    I include the price in all my emails to end users.
     
  7. Pierre Barnard

    Pierre Barnard Active Member VIP

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    So you are saying that the 3 offers was not "counter" offers to your email, but instead offers that came through possibly a sales page?
     
  8. Scotty205

    Scotty205 Established Member

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    No, I am saying in my email my sale price is $800.
     
  9. Haris

    Haris Best Domainer Of The End-Times VIP

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    If you are in a similar scenario what do you do?

    I let the buyer know that there are many potential buyers and:

    1) I am sure I will sell the domain for $800 or
    2) The lowest I am willing to sell for is $700, and the price is justified.

    I would only do that if I am really sure that I can sell the domain for $800 easily.
     
  10. Pierre Barnard

    Pierre Barnard Active Member VIP

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    But the 3 offers you received, was it prior to your email being sent?
     
  11. Scotty205

    Scotty205 Established Member

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    No, I buy and then market, I dont put up for auction any domain I buy until after I market it and it dont sale.
     
  12. JoeE

    JoeE Active Member VIP

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    I would just counter with a FIRM 500 and I'm sure at least 1 of the 3 offers will jump on it.
    If you insist on 800 they'll potentially walk. If you have the time and want to drag it further you can come down a little say 700, and they may go up a little ect... but at the end, you may still meet at $500.
     
  13. DNWon

    DNWon eCommerce Branding Specialist Gold Account VIP

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  14. biggie

    biggie Top Member VIP ★★★★★★★★★★

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    if u a fast flippo, then procrastination is ur enemy.

    imo....
     
  15. frank-germany

    frank-germany F1lter.com xpired domain search engine Gold Account VIP

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    that depends on the cash flow factor
    if you need cash sell
    if you don't need cash double the asking price each time you get a new low ball offer
     
  16. Recons.Com

    Recons.Com Upgraded Member Gold Account VIP

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    Write to $150 and $200 guys that you have another offer at $300. Tell them that buy it now price is reduced to $700 and that the name will sell to the highest bidder. If they come up with higher than 300$, then write an email to $300 guy etc.
     
  17. DOMAIN ILLUMINATI

    DOMAIN ILLUMINATI Owner of ▲ the most expensive domain of all time. Gold Account VIP

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    I suggest you to send them all an email with a BIN price (depends on your situation, only you can know what you want, so I don't want to make a range suggestion) and let them know that the first who will respond with an 'OK', will get it.
    Also let them know that your BIN price is only valid until (choose a date, incl. exact time).
    Then simply stay patient.
     
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  18. WeSell-Domains

    WeSell-Domains Active Member VIP

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    Had this happen to me yesterday. Asked for a price (inbound). Responded with my BIN price. They came back with a lowball offer. I replied to their offer by not making a counter offer buy explaining why I priced it at what I did. Then I asked them why they thought their price was the right one. Haven't tried this tactic before, just experimenting with something new to see if it might work. Will update if anything happens.
     
  19. toughdomains

    toughdomains Upgraded Member Gold Account VIP

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    I would say respond to all of them. I usually start all my offers in that range even if my budget is 5k....if you dont ask the answer is always no.
     
  20. Scotty205

    Scotty205 Established Member

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    Just to update all, I finally sold the domain! The domain was Onsite/Data/Destruction/(.)com and I started out marketing it at $800 but then I started getting low offers. My business model is to flip ASAP so as long as I am still getting a nice return I will sell cheaper. I dont want to hold on to the domain any longer than I have to. I sold it for $200. Thanks for all your input, I appreciate it.
     
  21. WeSell-Domains

    WeSell-Domains Active Member VIP

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    Not a bad price for that one. I would have accepted $200 also. Congrats!
     
  22. autobot

    autobot Established Member

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    @Scotty205 can you share your domain sales pitch letter via pm? thanks a lot
     
  23. promo

    promo Restricted ★★★★★★★★★★

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    You had a 300 USD offer but sold it to the 200 USD bidder?

    I think you took the "dont be greedy" advice to far.
     
  24. briguy

    briguy Guru In Remission! VIP ★★★★★★★★★★

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    Interesting niche..date destruction!
    On the other side of the coin.. Just like on auctions sites, I am a low baller, always looking to get the best "bang for my bucks"! Usually, when I send out a "low ball offer" though email/pm/etc, I am hoping that I get a response, so the negotiations begin! Of course, if the low ball offer is accepted, I am happy!

    Before, I make my low ball offer, I have a "best case scenario" (getting it at my offer) and "worst case scenario" (maiximum budget that I try to stick too)..

    Anyway congrats on your sale!
     
  25. bilybo

    bilybo New Member

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    I sold a domain called findfoodtrucks dot com and a 2nd buyer told me he was interested but doing a non-profit hobby and didn't want to waste my time, so I sold it to a different serious buyer. I told the 2nd buyer I sold it and he told me he would have at least matched the 999 offer. So I never bothered to negotiate with a non-profit but he ended up offerring more than I got from a real business. Maybe the non-profit was lying and pleading poverty to lower my price. So you never know until you offer a price and counter-offer even at the fear of scaring away a buyer.
     

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