advice Biggest mistakes I did

[Isac]

From April 2017 i started my domaining journey and i must admit i did few big mistakes :

1. First one was rejecting an offer of $ 2500 on my LeLx.com domain.

2. But the biggest mistake i did was rejecting a bitcoin for 2 word .org domain before few months , that i bought from here for $ 25.

3. Try to be too greedy i lost many end users

Now i want advice from you all, what's a best thing i should do. At that time because i have less knowledge about Bit coins, i rejected Bit coin.

But i think there is something that i am lacking of which does'nt allowed me to sell those domain.

Kindly Help

Thanks

 

[frank-germany]

I
me: What's your objection?
buyer: the price
me: I understand, and I agree with you. That wouldn't stop you from buying this name? I am sending you a paypal invoice now! ( I send them the invoice to their email)
buyer: that's not my paypal email, it's [email protected]
CLOSED DEAL! I closed at least 4 sales this way this year.

did I mention I LOVE IT?

thank you for sharing this

 

[barophobia]

2. But the biggest mistake i did was rejecting a bitcoin for 2 word .org domain before few months , that i bought from here for $ 25.

3. Try to be too greedy i lost many end users

I can't blame you for not accepting bitcoins. It took me far too long to really appreciate it as a currency because I just have a hard time trusting cryptocurrencies. However, it seems like they're here to stay and I've realized that too late to really capitalize on it (at least for Bitcoin . . . right now). I don't know how much bitcoins were worth at the time of the offer, but I guess the easiest way to try and prevent that from happening again is to thoroughly research any cryptocurrencies offered to you. Even then, unpredictable things happen quickly in that market.

For the third, greed can definitely get in the way sometimes. At the same time, the other common error is to undervalue your domain. Practice and research seem like the only ways to really know how valuable your domain is. Everything's a learning process.

 

[Haykay2005]

Conclusion : there is no best way of doing things

 

[Isac]

Don't worry, you will make more mistakes in the future
The best we can do is offset mistakes with success.
Hindsight is 20/20.
However, you're right when you're saying do not be greedy. The first offer received may be the last you'll ever get.

Yes the offer can be last offer

 

[Isac]

I agree with you friends

 

[BaileyUK]

ps if you insert an 'E' as the second from last letter, I wonder if that was your enquirer ?

and it's what I accidently typed into the whois in the first place.

 

[Isac]

and it's what I accidently typed into the whois in the first place.

I don't know who was enquirer

 

[Isac]

take a look at the whois for my suggestion, seems a good guess to me

e from the second last letter. You mean to say Leee.com

 

[Isac]

insert 'e' at the stroke point LeL-x.com.

I'm just being cautious, probably should have PM'd you

Not him

 

[KhaledA]

Very nice sharing to be learnt !!!

 

[BOB Designs]

Best song ever

 

[CrazyOldGoat]

me: 1400 usd
buyer: 500 usd
me:1100 usd
buyer: no
me: ok 500 usd
Buyer: no more interested

--


buyer : 300 euro
me : 1400 euro
buyer: no more interested


its easy to f*ck a deal



buyer: 3000 euro
me: no we don't want to sell
buyer: maybe more ..
..
after 1 year we agreed on 125 K USD


its an art not a science

The buyer who initially offered 3k euros at first eventually purchased it for 125k???

 

[Fancy.domains]

I'm the original guy with a great future behind him.

If you aren't making mistakes, then you aren't trying hard enough. The failure is not in making mistakes, but in not learning from them.

And sometimes it is just bad luck. You were not at the right place at the right time. Losers give up, winners continues to work hard.

 

[Iam_leun]

I just randomly picked this example and I USED TO DO THIS ALL THE TIME!
I lost so many deals over the years it's painful to think about it.

MISTAKES/KEY POINTS:
1.When you drop price, the buyers CERTAINTY in buying drops! They are skeptical of buying in the first place from someone unknown, you gotta build VALUE and their CERTAINTY and never drop PRICE.


Negotiating PRICE vs. VALUE and this is HOW TO WIN(lots of trial and error in my method and hope it helps lots of people).

me: asking price $450
buyer:I would buy for $150
me:I am valuing this domain @ $1500 and I can give you 100 reasons why! I set the pricing at $450 for a quick sale. Do you have a minute to discuss my valuation?
buyer: no reply
me: What's your objection?
buyer: the price
me: I understand, and I agree with you. That wouldn't stop you from buying this name? I am sending you a paypal invoice now! ( I send them the invoice to their email)
buyer: that's not my paypal email, it's [email protected]
CLOSED DEAL! I closed at least 4 sales this way this year.

I follow the above method ALWAYS in every outbound negotiation when I have a BIN price set. I actually call the buyer if they have the phone number in the signature.
Here's how a call goes:
me:"Hey <John/buyer> this is Alex and I emailed you about my domain for sale. What's your objection, what can I do to make this work?"
Buyer: "price to high"
me:"I understand, I agree with you, I am with you. Hey John, here's the thing you are buying a $1500 name for $450. You can redirect the name, put a quote form up etc and it will pay for itself in no time. Even better domains are a tax deductible business expense so I get uncle SAM to pay 50% for YOU, you end up paying the rest buddy. Let's do this! Do you want me to send you a paypal invoice or a payment link(I use Stripe)? "
BOOM! Sale closed!

Would use this right away. Thank you.

 

[Iam_leun]

LOL

@
Buyer: bye
Me: bye and take care

Are you guys travelling into space?

 

[ResoluteDomains]

Buyer: $300
Me: $800

Buyer: sorry, its too high we are no more interested in it.
Me: thanks but my final price will be 600
Buyer: bye
Me: bye and take care
After some days buyer reply
Buyer: $500
Me: no reply
Buyer: we are agree with $600

Its all about human behaviour

That has only worked for me once in 18 years. All other buyers, using that approach with, have gone cold and never came back.

 

[Dave]

^^ OUCH

Yep, was back in like 2011. I got like a few hundred instead lol (Would now be worth nearly 30 million).Funny thing is I almost accepted, but there was a domain name I wanted to buy if I remember rightly. Oops.