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discuss Accepting Lowball Offers

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Scotty205

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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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The views expressed on this page by users and staff are their own, not those of NamePros.
Your asking price doesn't mean that's what the domain is worth. Ultimately, it's the market that determines the value of a domain. If all your offers are coming in around the same price, that's what it's worth.
 
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There is a massive range of price expectations amongst domain name buyers. I know some who think £25 is expensive, and several who say "£2,000 is nothing for a business name".

My difficulty is in finding a "business name" for them at the time they need one. I always seem to hear about the "great" name that they have just bought.
 
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Ultimately, it's the market that determines the value of a domain..

IMO, for many domains the customer is the one who determines the value of a domain, and not the market.
 
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I don't think I have too many domains I would sell under a thousand dollars, or at least, put it this way: the domains I am getting regular offers on are worth more than a thousand. But in any case, when I receive an offer or price inquiry, before I toss a price out there on one of my Make Offer domains, or set a BIN/floor, I look at comparables of closed sales and active listings, and quote these to the offeror.

As I mentioned here
https://www.namepros.com/threads/so...yer-was-just-an-anonymous-individual.1044941/
a $400. initial offer ended at mid four figures. This happens all the time, that I get people offering $200. - $500. with negotiation and discussion up to a few thousand dollars and then close the deal, although I have yet to convert a ten dollar offer into anything much. I did get a $70. offer up to $1500. recently but my minimum on that domain was $2500., so it was no deal.

And again - I don't just toss random numbers out there. I back them up with comparables.
 
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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.


they ALL need the domain for fun only
 
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they ALL need the domain for fun only
So true, lesson learned. I will treat all potential buyers as serious bidders until they drop out. But he told me he didn't want to waste my time, so I spent my time negotiating with a more serious buyer.
 
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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.

The guy that offered $300 disappeared. Do you really think I would have took $200 if I couldve sold it for $300??? Not being greedy is one thing but being dumb is another. But yeah thanks.
 
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200, 300 not so very far apart.
 
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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.

There is a way if indeed you are getting competing offers to use this to your advantage, but most buyers assume that you are lying to them when you claim that you have a higher specific offer from someone else. It's just not very professional to use these sorts of tactics and I assume that my buyers are as smart as I am, so I don't treat them like marks.
 
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Run an auction on flippa with 500$ reserve,& give link to all of them,even to other end users too,
sit back and relax :p
 
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