Namers

poll Accepting the first offer from the buyer - Deal breaker?

NameSilo

Do you accept the first offer from the buyer?

  • This poll is still running and the standings may change.
  • Yes if it is good enough

    15
    votes
    42.9%
  • No I always negotiate

    7
    votes
    20.0%
  • Depends on the domain name and the buyer

    13
    votes
    37.1%
  • This poll is still running and the standings may change.

Impact
1,138
With regards to a recent post that I saw, and my previous experience, accepting the first offer which a buyer makes is a deal breaker

This is something which I have seen time and again where negotiations fail. Sellers who accept the first offer from the buyer make the buyer feel that they have been played. The offer which they made was too high. And the offer isn't binding either. So they ghost away.

Solution

If you expect $2000 for a domain name and the buyer's first offer is $3500, do the research. Even if you are happy with the offer, check out their profile, any developments in the niche, technology or the keywords. Also, look for who the buyer is, their paying capacity, price sensitivity.

After all the research, if you think that there may not be a very high offer, you can say something like this:

"Thank you for your offer. I am currently looking at something in the ballpark of $4,000 for this domain name. If you extend a little, maybe we can make this work."

This is just one of the ways and there could be many other ways to approach.

What are some of the ways you tackle this situation?
 

karmaco

Top Contributor
Impact
9,497
This topic has been discussed many times and imo there is no absolute right or wrong way. We are never going to agree on the best approach. Anything that ends up in a sale— worked.

Some have higher opening offers to temper expectations and avoid lowballers. Some have BINS only. Some have payment plans. Some stick to their guns. Some routinely sell very low. A sale is a sale is a sale.
 

frank-germany

domainer since 2001 / musician
Impact
13,351
With regards to a recent post that I saw, and my previous experience, accepting the first offer which a buyer makes is a deal breaker

This is something which I have seen time and again where negotiations fail. Sellers who accept the first offer from the buyer make the buyer feel that they have been played. The offer which they made was too high. And the offer isn't binding either. So they ghost away.

Solution

If you expect $2000 for a domain name and the buyer's first offer is $3500, do the research. Even if you are happy with the offer, check out their profile, any developments in the niche, technology or the keywords. Also, look for who the buyer is, their paying capacity, price sensitivity.

After all the research, if you think that there may not be a very high offer, you can say something like this:

"Thank you for your offer. I am currently looking at something in the ballpark of $4,000 for this domain name. If you extend a little, maybe we can make this work."

This is just one of the ways and there could be many other ways to approach.

What are some of the ways you tackle this situation?

yes, I do agree
 
Impact
8,625
With regards to a recent post that I saw, and my previous experience, accepting the first offer which a buyer makes is a deal breaker

This is something which I have seen time and again where negotiations fail. Sellers who accept the first offer from the buyer make the buyer feel that they have been played. The offer which they made was too high. And the offer isn't binding either. So they ghost away.

Solution

If you expect $2000 for a domain name and the buyer's first offer is $3500, do the research. Even if you are happy with the offer, check out their profile, any developments in the niche, technology or the keywords. Also, look for who the buyer is, their paying capacity, price sensitivity.

After all the research, if you think that there may not be a very high offer, you can say something like this:

"Thank you for your offer. I am currently looking at something in the ballpark of $4,000 for this domain name. If you extend a little, maybe we can make this work."

This is just one of the ways and there could be many other ways to approach.

What are some of the ways you tackle this situation?

When was the last time that you sold some names? We need to know so we can learn from you as I see you don't have any trader rating and keep waste people time with all these questions beside digging the grave in the appraisal section.
 

frank-germany

domainer since 2001 / musician
Impact
13,351
This topic has been discussed many times and imo there is no absolute right or wrong way. We are never going to agree on the best approach. Anything that ends up in a sale— worked.

Some have higher opening offers to temper expectations and avoid lowballers. Some have BINS only. Some have payment plans. Some stick to their guns. Some routinely sell very low. A sale is a sale is a sale.

This topic has been discussed many times, right
and hasn't lost any of it's relevance
and times are changing

so it makes much sense to discuss that over and over
 
Impact
1,138
This topic has been discussed many times and imo there is no absolute right or wrong way. We are never going to agree on the best approach. Anything that ends up in a sale— worked.

Some have higher opening offers to temper expectations and avoid lowballers. Some have BINS only. Some have payment plans. Some stick to their guns. Some routinely sell very low. A sale is a sale is a sale.
With BINS, you have a sale anyway. I agree and I don't.
During negotiations, if you accept the first offer, be it any price range, the buyer may feel that they have overquoted and never come back.

This topic has been discussed many times, right
and hasn't lost any of it's relevance
and times are changing

so it makes much sense to discuss that over and over
Thank you! Finally someone positive with the mindset to learn together!
What's your thought on this topic?
 
Impact
67
When the first offer arrive to e-mail...

1- Reply and tell to the buyer that in this moment stay in negotiations with other potencial buyer. If he is interested in the domain reply to me with the best offer.

2- go to research some others possibility buyers and send email one per one with the minimun offer receive in the e-mail for first buyer.
 
Impact
2,575
With BINS, you have a sale anyway. I agree and I don't.
During negotiations, if you accept the first offer, be it any price range, the buyer may feel that they have overquoted and never come back.

If you list for $20k and the buyer offers $2k and you accept, then they are right to reconsider. But if they offer $18k then that's another story and probably no point in wasting each other's time for negotiations.
 
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