NameSilo

Best way to reply to 5 figure first offer?

Labeled as discuss in Domain Selling and Domain Sales, started by alcy, Jun 30, 2020

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  1. alcy

    alcy Top Contributor VIP

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    so i've been domaining for 5 years.. and its been all regs for me (99%) ... and 99% of those were off fresh expiries. so I wasn't really expecting bigger sales .. i guess u could say aftermarket buying for resale is still something thats ahead of me... and i do look forward to it indeed.

    that being said... my highest sale so far was 4 figures... 6xxx... so today when i had first offer in low 5 figures, which looks rather genuine ... i thought i'd make post of it... for others to learn from and for those with more experience to comment on.. and for me, well, to make my first 5fig sale as big as possible... :) thus... how would you respond to such bodis inquiry? its a 2-3 year old .ca handreg... taken in 30-40 tlds... let me know yer thoughts.......inquiry quote:

    Offer: USD 12500
    Message:
    My client asked me to reach out to you. They want to use this for a business in Toronto. Please let me know if the bid works for you. They can move quickly if so
     
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  2. lambo.com

    lambo.com HighIQ.com VIP Gold Account

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  3. karmaco

    karmaco Top Contributor VIP

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    As always very hard to say without knowing the name. I always always counter even if only a little more. If you jump on that first offer they often try to go lower or feel they are overpaying. Do a full search on this name on Google etc.for any recent changes. Look at what the other extensions are asking for theirs if available.
     
  4. wwwulff

    wwwulff Top Contributor VIP

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    Without knowing the name it is impossible to give you a reasonable answer - I do not know if you are from Canada otherwise I would ask someone who knows more about the .ca market - Good luck
     
  5. alcy

    alcy Top Contributor VIP

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    12k for 3 year handreg in any tld is basically big time win... especially in cctlds.. so it comes down to wording of the inquiry... to feel whether dealing with big budget company able to pay more.. or not.
     
  6. alcy

    alcy Top Contributor VIP

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    yes canada..its not possible to own ca names otherwise.

    as i just wrote above, i posted this mroe to get sense of whether the inquiry suggests its big company willing to go higher.... or not.

    i believe at 12k, for a few year old handreg, the name becomes basically irrelevant. imo
     
  7. Keith

    Keith Top Contributor VIP ★★★★★★★★★★

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    Impossible to say without knowing the domain. I’ve lost 5 figure offers by asking for a bit more. Then again, I’ve rejected 5 figure offers with no worries.
     
  8. karmaco

    karmaco Top Contributor VIP

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    True but there are psychological factors involved in any deal. In my mind, someone values something at five figures opener you have to ask yourself why and agree with them and price accordingly. Hand reg is irrelevant to me. Its the name that matters.
     
  9. xynames

    xynames XYNames.com PRO VIP

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    Unfortunately that wording sounds suspect. Most offers on behalf of a client include words to the effect of “How limited my client’s budget is” and never start off near the full value or asking price of the domain.

    So unless that domain you have there is easily worth six figures or close and that $12500 offer is insultingly low, I’m afraid that wording is leading up to some kind of appraisal or other scam.
     
    Last edited: Jun 30, 2020
  10. alcy

    alcy Top Contributor VIP

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    hm.. i meant name is irrelevnt in the sense that my investment is minimal..... and also suggesting that the quality of name is not so great.. because we cannot handreg very high value names in most cases..

    so to me personally the purpose of this thread was more to figure out the subtleties of wording of inquiry, to decide if buyer can go higher or not.. if counter or not..

    imo
     
  11. alcy

    alcy Top Contributor VIP

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    ty for voicing this.
    its possible to be fake offer,
    but i'll eliminate the appraisal scam, as those do not lead up to this scam.. but mention it in first post... and in different wordings... from the ones i saw.

    i am not sure what u mean that its easily worth 6 figures.. givem i mentioned its few year old handreg... one cannot handreg names.... in essentially any extension that are easily worth 6 figures... one can only buy such names for 5-6 figures.

    i've seen my share of offers and inquiries... sales too... so im kinda leaning toward this being genuine.. the question is,... does the wording suggest they can pay more.
     
    Last edited: Jun 30, 2020
  12. xynames

    xynames XYNames.com PRO VIP

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    What I mean in case it wasn’t clear is - I’ve received low five figure offers on domains I have listed for a lot more or that are worth a lot more than low five figures. I almost never see a legitimate offer start off at full value.
     
  13. alcy

    alcy Top Contributor VIP

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    sorry. but i do not believe there is such a thing as 2-3 year old handreg.. in any extemsion... that is "easily worth 6 figures". which im quite sure is what u said. so i just wanted to point this out.. and eliminate it as possibility. as my name obviously is not "easily worth 6 figures".

    nor really easily worth 5... or perhaps not even easily worth 4.
     
    Last edited: Jul 1, 2020
  14. Windoms

    Windoms Top Contributor VIP

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    Your biggest sale since you started 5 years ago.
    Hand reg.
    .ca.

    I'd take it and buy good .com domains.
    Because of the first point (biggest sale ever), Id take it without any further negotiation, leave that for next time.
     
  15. wwwulff

    wwwulff Top Contributor VIP

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    The wording says nothing but most brokers probably won't put up with the best offer first so if you feel the offer is genuine then make a counter offer
     
  16. alcy

    alcy Top Contributor VIP

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    yes bit ironic isn't it.
    its a given my biggest sale would be handreg.. since 99% of my stuff is just that.
    but... for it to be ,ca .. would be indeed ironic.
    good advice. thanks. i am leaning toward that too.
    maybe with this profit as u say, it would be a good time and oportunity to enter a bit of the aftermarket.. in the .com.
     
    Last edited: Jul 1, 2020
  17. Windoms

    Windoms Top Contributor VIP

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    "Please let me know if the bid works for you. They can move quickly if so"

    You dont want to waste time while theyre negotiating another domain on the side.
    Move quickly.

    Youll take that risk next time, when you can afford it.
     
  18. xynames

    xynames XYNames.com PRO VIP

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    Not sure why Alcy runs off on tangents talking about hand regs. I’ve just opined in multiple manners that the offer appears fake unless that domain - whatever it is - is worth a lot more than 12,500. How was I unclear? End of story. I wouldn’t spend hours worrying over how to respond to it.
     
  19. alcy

    alcy Top Contributor VIP

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    i think u are quite right,
    i feel their wording suggests in a way they may be open to paying more (let me know if bid works for u).. but if so then the big question becomes; how much more.. and also, are they negotiating other names on the side.

    for this kind of profit, and reinvestment oportunity in other domains, this may just not be worth countering

    though so far the views here are basically 50/50
     
  20. alcy

    alcy Top Contributor VIP

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    well..he just wanted to be clear that its not easily worth anything other than the 30$ or so he put into it... vs a name that was paid say 5-6 figures on aftermarket.. where claim can be made that its easily worth 6 figures.

    i think alcy is just bit perfectionist and likes to be clear on things. hes alright though,
     
    Last edited: Jul 1, 2020
  21. BrandVenue

    BrandVenue BrandVenue.com

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    in my experience Message field of Bodis inquiry is quite important. If the offer was $12.5k without any message I'd say it's 99% fake offer but the message suggests it might be a genuine inquiry as there are some interest shown.

    I'd probably rule out this as appraisal scam as most appraisal scams come from fake Japanese / Asian clients. This inquiry says client from Toronto and domain name is .ca so it doesn't look like appraisal scam.

    30-40 tld's taken means this name has some value to some person. Have you tried to find out who the inquirer is by Googling email / phone number?

    If I were you I'd counter the offer with $20k with aiming to close at at least $15k. In my experience if the offer is genuine then the starting offer is often time not their highest offer.

    Also I'd use email tracker to see if they have seen my reply, how many times, and if possible from what location. These tells a lot of things

    If you are thinking to accept the offer without countering then I suggest you read following Namepros post

    https://www.namepros.com/threads/how-do-you-accept-initial-offers-without-looking-too-eager.972894/
     
  22. Recons.Com

    Recons.Com Top Contributor VIP

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    Offer looks fine.

    Write something along this line:

    "Hi

    Thank you for your inquiry. We normally sell premiums names like .... .ca for considerably higher price. But we realize that in the current global situation we need to be more forthcoming to meet the clients' needs.

    We accept your offer of $12,500.00 on the condition of reasonably fast payment and closing of the deal.

    Best Regards"
     
    Last edited: Jul 1, 2020
  23. alcy

    alcy Top Contributor VIP

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    thx! good tips! I agree with basically all. scam wise etc

    20k would be amazing.. but i wont risk things for 15k (I know u just said it as example but we get the point).. that being said i decided to send him a dan checkout email (add lead).... for his price this morning. and go with his hint that the buyer is willing to move quickly if i accept their price. fingers crossed. ty all.
     
    Last edited: Jul 1, 2020
  24. Recons.Com

    Recons.Com Top Contributor VIP

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    I would have suggested escrow. First, if they are brokers, then can hide their fee, so more motivated to do the sale. Second, you'd save couple hundred bucks.
     
  25. Samer

    Samer Top Contributor VIP

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    Dan self-lead is a game changer.
    5% commission; they handle escrow.
    with no fees on top of fees

    Dan.com is soo much better than Escrow.com.
    If he didnt request Escrow.com; accept the gift

    Samer
     
    Last edited: Jul 1, 2020

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