Buyer Playing Games -- How Can We Deal With Buyer?

[jideofor]

Hello,

I posted this in the report domain sales thread and no one could give insights.

I hope people can contribute their insights.

Here we go:

A friend got a $5000 offer for one of his domain. Buyer agreed to escrow fees included.

My friend replied and ask if they have a better offer. He had wanted to counter high but then decided to accept their offer.

He started escrow and inform them that he would take their offer and escrow has been initiated. This was after 2 days of initial contact. Buyer didn't respond to the emails from then to now as I type.

On 3rd day, my friend got another email from a different ID. This time around they didn't give offer. Rather they asked if it were for sale and for how much.

My friend informed me about this and after careful reasoning, it appaired former buyer is trying to play games by creating a new email ID.

Also, they seem to rather want to buy the domain cheaper than their initial offer.

Why? From what we arrived at, because my friend didn't counter high but accepted their offer easily, they felt they could have gotten it cheaper had they not made an offer.

Findings:

1. The two email IDs are from gmail.

2. The subject for both contact is : domainname.com.

3. The IP of the first email is US, from Washington using AT&T mobile while the IP of the second one is highly encrypted. We couldn't find it.

4. They really want the domain.

What I adviced my friend:

He should ignore the 2nd email completely and then wait for escrow to cancel as I believe that they wont respond to that escrow.

When escrow is cancelled, this automatically means that initial agreement has been cancelled.

They will resurface with possibly an excuse to cover up for why they didn,t respond to escrow.

Then I told my friend to not accept anything less than 5 figures.

What's your take in this situation? Kindly share your insights and how best to handle this.

Thanks.

 

[Banezer]

to me i will reply the 2nd mail with a higher offer, but you should hear from the 1st buyer.
is it a brandable domain?

 

[indiegrind]

I find that escrow wont cancel, but will follow up for status. I have a sale that has been waiting for buyer to accept the domain push for nearly a month now. Payment has been secured by escrow. Escrow has followed up twice now for status. I gave buyer an ultimatum to complete by today or I am requesting cancellation.

I also have recieved an offer from another buyer since escrow started on the name and told them it was in the process of being sold but will follow up if something changes.


Also last month, had a buyer from russia attempt to pay by credit card on a domain for 1200. Escrow didnt accept payment for some reason, then buyer came back and tried to offer a lower price on the name. I canceled for buyer backing out of agreement. No payment was ever secured.

 

[jideofor]

Well,

indiegrind, yours is better in a way because escrow has gotten the money.

Our suspicion was right. The first buyer was really playing games.

The second email isn't on facebook but the first is.

Escrow does cancel if the other party doesn't respond and that will give my friend a good reason which automatically means that former agreement has been nullified.

Yours may not have cancelled BECAUSE money has gotten to escrow's account so it wont be wise to cancel in that case, rather a follow up would suffice.

My friend's case is different. No payment at all.

Thanks for your time bro.

 

[NPer]

The second one, just quote the same price, and let it lay. Don't bother further. The person is hoping that you will quote a lower price somehow because, according to his knowledge, you might be desperate as you "lost" him the first time.

If you don't contact him further, he will get the picture. Hopefully he comes back. Maybe he doesn't. But that is how you will need to do this-not come across as desperate, otherwise he will push for a lower price.

EDIT: just realised that escrow was sent after asking for a higher offer with no reply.

 

[NPer]

I gave buyer an ultimatum to complete by today or I am requesting cancellation.

Maybe that is what he hoping for...

I also have recieved an offer from another buyer since escrow started on the name and told them it was in the process of being sold but will follow up if something changes.

Maybe it's the same guy? Why hasn't the "first" buyer completed?

 

[indiegrind]

Maybe that is what he hoping for...



Maybe it's the same guy? Why hasn't the first buyer completed?

Well the first buyer is a young lady out of washington DC area. She has a google plus and facebook page which I have seen. She keeps giving excuses like she has been out of town, or busy when she does reply. She was really responsive at first, then after it was time to complete the transaction became unresponsive.

The second person, I was also able to identify by searching his email and matching IP to location. He is a professional artist. His offer is higher than the first lady.


I feel like I was letting it go for less than I would ask had I had it longer. I'd only had the name for about a week before the lady contacted me, so I was just going to quick flip.

 

[NPer]

Well the first buyer is a young lady out of washington DC area. She has a google plus and facebook page which I have seen. She keeps giving excuses like she has been out of town, or busy when she does reply. She was really responsive at first, then after it was time to complete the transaction became unresponsive.

The second person, I was also able to identify by searching his email and matching IP to location. He is a professional artist. His offer is higher than the first lady.


I feel like I was letting it go for less than I would ask had I had it longer. I'd only had the name for about a week before the lady contacted me, so I was just going to quick flip.

I mean, you could cancel, but who is to say the second buyer would follow through. Perhaps you should wait it out, if you aren't in a hurry for the funds. I do know that Escrow.com applies a time-out for agreements that are not accepeted within a specified time-frame. Maybe something similar applies in such situations. Hopefully, you are not responsible for the fees/ part thereof should that be the case.

 

[London555]

Hello,

I posted this in the report domain sales thread and no one could give insights.

I hope people can contribute their insights.

Here we go:

A friend got a $5000 offer for one of his domain. Buyer agreed to escrow fees included.

My friend replied and ask if they have a better offer. He had wanted to counter high but then decided to accept their offer.

He started escrow and inform them that he would take their offer and escrow has been initiated. This was after 2 days of initial contact. Buyer didn't respond to the emails from then to now as I type.

On 3rd day, my friend got another email from a different ID. This time around they didn't give offer. Rather they asked if it were for sale and for how much.

My friend informed me about this and after careful reasoning, it appaired former buyer is trying to play games by creating a new email ID.

Also, they seem to rather want to buy the domain cheaper than their initial offer.

Why? From what we arrived at, because my friend didn't counter high but accepted their offer easily, they felt they could have gotten it cheaper had they not made an offer.

Findings:

1. The two email IDs are from gmail.

2. The subject for both contact is : domainname.com.

3. The IP of the first email is US, from Washington using AT&T mobile while the IP of the second one is highly encrypted. We couldn't find it.

4. They really want the domain.

What I adviced my friend:

He should ignore the 2nd email completely and then wait for escrow to cancel as I believe that they wont respond to that escrow.

When escrow is cancelled, this automatically means that initial agreement has been cancelled.

They will resurface with possibly an excuse to cover up for why they didn,t respond to escrow.

Then I told my friend to not accept anything less than 5 figures.

What's your take in this situation? Kindly share your insights and how best to handle this.

Thanks.

Myself Id answer the the SECOND email as follows-"Thank you for your note-due to the high interest in this name the price is currently $19,000. " If they are real buyers that sent the second email-you'll hear back from the "first" email very quickly. Good luck.

 

[jideofor]

@London555,

My friend will respond to the second one but he wants to give the first ample time so that when escrow cancel, he will have a better reason to increase his offer and then buyer would have hit herself for not taking the agreed price cos by then, she would know that he has suspected foul play.

@indiegrind, this buyer is also a lady as her facebook account showed using the first email.

 

[jideofor]

The reason for increment is to purnish her for foolishness.

 

[indiegrind]

I mean, you could cancel, but who is to say the second buyer would follow through. Perhaps you should wait it out, if you aren't in a hurry for the funds. I do know that Escrow.com applies a time-out for agreements that are not accepeted within a specified time-frame. Maybe something similar applies in such situations. Hopefully, you are not responsible for the fees/ part thereof should that be the case.

My decision to cancel would be the same even if there were no second potential buyer. Its just gone on way too long, and the buyer isnt communicating. I wasnt extremely motivated to sell at that price to begin with and was giving the buyer a break.

I just dont feel like a mid xxx transaction should take a month to complete.

 

[NPer]

Re-reading the first post, I think that sending this to escrow after asking for a better offer was the biggest mistake.

Unless you were really not happy with the $5k, and honestly had a higher price... sure. But it sounds like a case of regret at this point.

I don't think it's the seller "punishing" the buyer strategy that will close the deal. May just push the buyer completely away.

 

[London555]

The reason for increment is to purnish her for foolishness.

This deal will not happen imo but good luck-you can't "punish" buyers-it doesn't work that way. Make them open escrow with non refundable cash-period.

 

[jideofor]

I am not the owner. I am just reporting what I saw.

Well, buyer can walk away imo... That's it. No one force buyer to come forth.

We learn everyday and I am sure many reading this have learned as well.

 

[Pattern]

I've had 1 buyer contact me through a different ID after we agreed to a deal. Simply be truthful, tell them you're sorry but the name sold and you're in Escrow. It shows the buyer that you're honest and if a deal is made, you respect it. Maybe it will turn them around and they'll finally pay.

 

[jideofor]

Daniel, thanks but escrow informed my friend that since buyer didn't respond, they will cancel soon.

I don't think a buyer of such attitude deserve what you explained above. As in honor someone with honesty wherein they hadn't honored your time and energy in likely manner.

In life I belive in get what you give.

Why would anyone decide to play a smart one on a fellow?

From what I saw, the buyer came with a price and also agreed pay escrow fees. In such instance, you will assume she was serious and quick to want to close the deal without wasting time considering her incentive to pay escrow fees.

Someone with a functional brain and mind should have seen that there was a tendency of countering when my friend asked for a better offer(he didn't specify how much he wanted) but accepted their offer. This may have signalled that he was desperate but not knowing that he was being considerate.

This mistake here was making it TOO EASTY for the buyer.

What I have personally learned from this is that when you receive an offer, FIRST gauge the potential buyer to ascertain their level of seriousness. At this point, do not be bother about losing the deal or not.

If they pass that test, then you can know whether they are serious or just another time waster.

This buyer has proven to be a time waster imo.

According to my friend, he is gonna counter much higher to the second email. That should send a message that he is aware of the card on the table.

At this point, the deal is as dead as gone. So it doesn't matter anymore what the lady does.

 

[London555]

I've had 1 buyer contact me through a different ID after we agreed to a deal. Simply be truthful, tell them you're sorry but the name sold and you're in Escrow. It shows the buyer that you're honest and if a deal is made, you respect it. Maybe it will turn them around and they'll finally pay.

Couldn't disagree more-if they contact you through a different IP then they're game players and should be treated as such.

 

[Pattern]

You may disagree, but I had a very similar situation and what I described worked well for me. Ended up in a $2,000 sale for a low quality name. Sometimes it's best to act like a fool when they start playing games. Letting the other side think they're in control can work in your advantage at times. They feel like they're winning the negotiation. Not all the time, but sometimes.

 

[London555]

You may disagree, but I had a very similar situation and what I described worked well for me. Ended up in a $2,000 sale for a low quality name. Sometimes it's best to act like a fool when they start playing games. Letting the other side think they're in control can work in your advantage at times. They feel like they're winning the negotiation. Not all the time, but sometimes.

This buyer in this case deserves zero respect-zero.