discuss Counter or no-counter on an opening offer?

[Soofi]

After over almost 2 decades in this industry, at times, I still fail to understand the endusers/buyers during negotiations and lose quite a few sales to the counter-strategy.

My question at hand is; Should we really counter to an opening offer or accept as it? What do most of you do?

So to build this discussion up and see what others have to say or suggest about this, recap on why I am interested to know what most of you do is because of this below mentioned situation/story:

Sold: FullertonLawFirm,com
Sale Price: $520
Venue: DAN
Listing type: Make Offer with Buy Now Price.
Sale type: Inbound

Registered for $5.49 at Epik from the daily drops list I prepare. Domain was held for 14 days.

Accepted an opening offer of $520 which came in this midnight/early morning (IST) via Dan where it was listed as make offer (minimum $500 which is my extreme lowest and minimum acceptable price) with buy now price of $1488.

I woke up a few moments ago, looked at the offer and sat thinking should I counter or accept this opening offer on a 2 week old domain name? You must be wondering why in the world was I thinking and should have countered for-sure since its an opening offer and my quick research also suggested the same, that it seems like a serious and genuine buyer who is operating on a+mydomain.com so he/she would be happy to have my asset for negotiated high $xxx to low $1xxx price point.

But let me share with you why I didn't counter, and I will literally think dozens of times before countering in the near future as well, at least to my daily drops hand-registered domain names, especially on DAN platform. This is because I have lost over 8 potential sales of similar names to a counter-strategy last month where buyer lost interest or disappeared. And guess what, my countered price was only mere $xxx price higher than their initial offer in most cases.

Oh and I think this is quite a fair price for 3 keyword domain name. Though I suck at negotiations, thoughts and suggestions here or through pm are genuinely welcome.

 

[Skyvisum]

I have been switching some names to bodis and efty and leave on dan as well as other markets but i like to see the number of views so i can adjust my prices from time to time.

 

[Sumeeth]

Yeah have had the exact same experience on highly priced domain names, and thats what makes me think a lot of times on whether what is the right price to accept for a domain name.

I have a popular app domain name in .com where I received a $1000, $5000, $10,000, $20,000 & $25,000 after negotiations but I was hell bent on $75,000 reduced to $51,000 and sale didnt happen. When I went back to accept $25,000, buyer simply declined and lost interest!

Every act of us seems a lesson to us. Even not sure, if these lessons teaches something to us? because each client's budget and mindset is different, we don't know the client's mindset, budget etc., It is impossible to say which is correct? counter offer/accept current offer? only thing we do is how this sale is important to us.. based on we can take the risk of either counter or accept current offer when we don't know about client details

 

[Skyvisum]

Some names i have countered even $5k.I countered because I know they can pay more and dont forget they disguise their email.Some I can detect they are purchasing the name for themselves or small business and i counter reasonably but I wont accept first offer.When i started as a newbie,yes i wanted sales just to feel good on $400 and $600 sales but as I gained experience,i developed a thick skin by learning to counter and say no to some stories some buyers tell me.

Client has low budget.I can read between the lines .I learn also from reading closed sales from experienced domainers also because those 5 and 6 figures takes a lot of guts.When i get a first offer,i whisper"counter or tell them its too low .

 

[karmaco]

I start the minimum offer at a price I can accept on some names to eliminate low ballers and frustration on names I consider worth holding.

I only accept the minimum offer if I don’t care about the domain or was on the fence about keeping.

On Dan, there are many domainers looking for a massive deal thereby the backing off if a counter is sent. I guess all you have to decide is what you are willing to accept for that individual domain. If the minimum set is the lowest you would accept that will save a lot of time and frustration.

 

[AbdulBasit.com]

I always counter no matter what the domain, buyer, situation is.

 

[Soofi]

I have been switching some names to bodis and efty and leave on dan as well as other markets but i like to see the number of views so i can adjust my prices from time to time.

I would like to try Efty and its marketplace. What do you suggest? Reviews?

 

[Soofi]

Every act of us seems a lesson to us. Even not sure, if these lessons teaches something to us? because each client's budget and mindset is different, we don't know the client's mindset, budget etc., It is impossible to say which is correct? counter offer/accept current offer? only thing we do is how this sale is important to us.. based on we can take the risk of either counter or accept current offer when we don't know about client details

You are on point Sumeeth!

Each and every domain name or its sale is different from the previous or future one. Different situations, scenes and negotiations.

We have to be alert at that point in time while doing our best research!

 

[Soofi]

... because those 5 and 6 figures takes a lot of guts.

enough said

 

[Soofi]

If the minimum set is the lowest you would accept that will save a lot of time and frustration.

Working for me now, and helps to save time + frustration as we go along.

Setting a higher minimum shall help on the names we want to hold for larger sums tbh!

 

[Soofi]

I always counter no matter what the domain, buyer, situation is.

That's how and why you crack 5-6 figures more often, Abdul bhai

 

[DnFolk]

I always counter which has mostly worked for me, though yes i have lost few sales doing that but overall it has benefitted me, at dan like platform though i am finding extremely tough doing that after putting my all domains in make offer. As after countering losing my 90% of sales with potential buyers disappearing or losing interest probably and not responding thats why i want @Reza to give us an option of accepting first offer immediately if counter offer is rejected. I have heard @Epik.com shares the contact details right from the go, i feel dan should also at least when buyer doesn’t respond in certain time. I will try @Epik.com in upcoming days.

 

[Skyvisum]

I would like to try Efty and its marketplace. What do you suggest? Reviews?

Try it.I use efty and get all leads to me than waiting for dan to show their ego and feel like i shouldnt get my leads even if i am helping them by driving traffic and changing nameservers and they get their 9%.I am switching most of the nameservers I previously direct to dan to bodis and others to efty where i like to negotiate on other names.Love saving on commission charges.

 

[Skyvisum]

I always counter no matter what the domain, buyer, situation is.

I go back to reread your negotiation tactics from time to time .You have got guts.I suggest others go check on your past sales and how you closed. I actually got more interested in my early domaining journey by reading from your blogs and i still go back .5 to 6 figures takes a lot and constant 5 figures helps boost a lot .

 

[DnFolk]

I would like to try Efty and its marketplace. What do you suggest? Reviews?

Efty is good but facing spam or non responsive buyers is also not uncommon there, besides handling everything by myself felt like a task and not smooth as i expected if you are ok with it then go for it, i am myself planning to try epik in near future.

 

[YairDD]

It depends on whether I'm good with the amount I'm being offered.
Sometimes I accept the initial offer, and sometimes I negotiate because I wouldn't accept the initial offer, as it is too low imo.

 

[Jurgen Wolf]

I always accept the first offer, I have similar experience of losing deal because of counter offer.

Never for me.

Just one example...
I can recall some NL buyer on Sedo with opening bid of 100 EUR for 4L.in (handreg, nothing special) - I countered...
Then were few other bids - and few other counter offers from me...
Few days of bidding overall...
Finally I closed this sale at 2,400 EUR.

 

[Jurgen Wolf]

Result also depends on what you say to your bidders... how you comment your conter offers...

 

[Soofi]

I will try @Epik.com in upcoming days.

@Rob Monster can help you Vicky!

 

[Soofi]

Try it.I use efty and get all leads to me than waiting for dan to show their ego and feel like i shouldnt get my leads even if i am helping them by driving traffic and changing nameservers and they get their 9%.I am switching most of the nameservers I previously direct to dan to bodis and others to efty where i like to negotiate on other names.Love saving on commission charges.

I shall keep you all posted about my Efty experience, f at all I get a chance to try it out in next few months.

 

[Soofi]

Efty is good but facing spam or non responsive buyers is also not uncommon there, besides handling everything by myself felt like a task and not smooth as i expected if you are ok with it then go for it, i am myself planning to try epik in near future.

I am trying to setup my own marketplace if I go efty way, as I also got plenty of requests for brokering their names as well.

This will be first attempt to fully jump in to the brokerage bandwagon tbh.

 

[Soofi]

It depends on whether I'm good with the amount I'm being offered.
Sometimes I accept the initial offer, and sometimes I negotiate because I wouldn't accept the initial offer, as it is too low imo.

So in short, completely depends on the name and price offered!

 

[Soofi]

Never for me.

Just one example...
I can recall some NL buyer on Sedo with opening bid of 100 EUR for 4L.in (handreg, nothing special) - I countered...
Then were few other bids - and few other counter offers from me...
Few days of bidding overall...
Finally I closed this sale at 2,400 EUR.

Was that one in plenty case?

Doesn't happen too often in my strong opinion.

 

[Soofi]

Result also depends on what you say to your bidders... how you comment your conter offers...

Do you think comments really work, if buyer isnt too motivated or serious?

 

[Jurgen Wolf]

For me it happens regularly...
Negotiations - the most important part of any sale, not landers or something else.

 

[Soofi]

For me it happens regularly...
Negotiations - the most important part of any sale, not landers or something else.

You know how to negotiate in that case.. Not an easy part for me or most of us!