poll Counteroffer or not?

[Traderas]

So, lets say you are receiving a "good" offer for one of your domains.
By saying "good" I am referring to an offer that is satisfying for you, regardless of your cost or the real value of the domain.
An offer that you would accept if you knew that is final.
What is your common response to that?

 

[lock]

In my experience of going for more that expected i have burned the sale more often than raised price but i still know it is possible as the idea is to be careful with wording on how you ask for more. Eg You agree they now have a standing offer eg you can still try bump it but the offer is standing. You must be able to back peddle i am not going to reveal every wording you need to make this happen but offers don't have to be accepted or rejected. They need to commit to their offer first. I suggest both parties committing to time frames on offers

 

[twiki]

It depends.

I counteroffer whenever suitable. But.

I have more inventory than I can sell (a lot of volume), so for me it is often better to straight accept a sensible offer.

This locks the sale in, as most marketplaces consider that a deal signed.

Also I don't give the buyer any time to change their mind.

The latter is most important and many sellers ignore this just looking to squeeze as much as possible. But overall, you might eat a loss due to this, depending on the names being sold.

I've measured that the effect on portfolio due to "too many domains sold for cheaper" is minimal, if FOMO ever hits you. The sale ratio is minimal for most sellers. What, your portfolio has just declined in size by 0.2% ? Is that going to break your bank?

But on the other hand, giving the buyer time to think more is a huge source of lost sales. A big portion of the yearly profit can go down the drain.

People are often ignoring that buyers are sensitive, spook-able creatures. They also don't like to negotiate. For most, this is sheer pain. Also sometimes the offer is their entire budget (sometimes even stretched to get there).

If the offer is sensible, do you think that adding more will get you more? Only if the buyer is like a crypto company or something. Otherwise, in most cases, no.

1000 things can go wrong. The buyer might change mind, their budget cannot accommodate more, they are displeased / spooked by a prolonged negotiation etc. REmember, in most cases they are like suffering while negotiating. Many also live with fear of reject and getting a counter or a decline might trigger this.

This is why the right BIN sells most, and fast. Even in 5-figs it's still valid.

For high value domains I always counter, this is just for whatever is less than $3k in value (most of my portfolio is).

So again, it depends.

Edit: For higher demand domains, where acquisition price is perhaps high, I'd always counter though. And might wait more to get it sold for the right price. Any special, valuable domains would be countered.

 

[NickB]

"By saying "good" I am referring to an offer that is satisfying for you, regardless of your cost or the real value of the domain.
An offer that you would accept if you knew that is final."

............

If the offer is "good" / an amount you are happy with and they say it is a final offer why would you counter?

I only counter if the offer is not acceptable

 

[Traderas]

I never said that they say it is their final offer.
I said that it is an offer you would accept if you knew it is final.
Of course if the buyer declines you could meet him in the initial offer.

The main question here is, would you risk to lose a sale for the possibility to increase the price?
What is your first response?

 

[bmugford]

It depends. I generally counter most offers, but this depends more on the specific circumstances.

If I know the buyer is solid, I would be much more likely to accept a first offer than one from an unvetted buyer.

There is some psychology at play here also. Sometimes if you quickly accept a first offer, the buyer will have second thoughts, thinking they overpaid.

Brad

 

[bmugford]

I've measured that the effect on portfolio due to "too many domains sold for cheaper" is minimal, if FOMO ever hits you. The sale ratio is minimal for most sellers. What, your portfolio has just declined in size by 0.2% ? Is that going to break your bank?

I would say for the average person, leaving money on the table is not that big of a concern.

Unless you have some truly spectacular domain, most domains are replaceable with similar domains.

You also have to realize virtually any sale has money being left on the table, even at the highest levels...that is unless you extract 100% of what a buyer is willing to pay 100% of the time, which doesn't happen.

So essentially almost any time a domain is sold, some money is being left on the table. I don't really worry about that aspect.

Brad

 

[dr manos]

Depends on the marketplace mostly imo
At sedo for example if you counter, you can not go back to initial offer and accept.
But at TDNAM can accept the offer you had before the counter offer, so i think marketplace is one of the major factors to decide to counter or not

 

[Traderas]

It depends. I generally counter most offers, but this depends more on the specific circumstances.

If I know the buyer is solid, I would be much more likely to accept a first offer than one from an unvetted buyer.

There is some psychology at play here also. Sometimes if you quickly accept a first offer, the buyer will have second thoughts, thinking they overpaid.

Brad

On the other hand isn’t it easier for an unvetted buyer to change his mind, if you don’t accept the offer immediately?
Also don’t you have better chances for an experienced buyer, that really wants a name, to accept a higher offer? Or at least not to withdraw the initial one

 

[bmugford]

On the other hand isn’t it easier for an unvetted buyer to change his mind, if you don’t accept the offer immediately?
Also don’t you have better chances for an experienced buyer, that really wants a name, to accept a higher offer? Or at least not to withdraw the initial one

Many unvetted buyers just don't pay, no matter what you do on your end. Even if I reach an agreement I don't count on the sale happening until the money is actually in my account.

The failure rate from unvetted buyers is far higher in my experience AKA even if you accept the offer, many will just not pay.

Brad

 

[redemo]

Why not include I never counteroffer?

 

[biggie]

Even if I reach an agreement I don't count on the sale happening until the money is actually in my account.

Hi

that has been my position as well.

to me, it's less stressful to count the duckies, before they are "in-hand"

i've heard excuses from other buyers, that "they were waiting on payment from another deal...so they could complete our deal."

as for "good" offers
if, it's just a good name, then a good offer could suffice
however, when it's a great name, then the offer has to be great as well.

imo...

 

[AEProgram]

If the domain is over 500 always counter offer. You will lose almost every sale if you don't. This is true in all industries not just domaining. You must counteroffer every time even if it's just a small amount higher.

This is how almost all people behave.

They like your name, they decide to offer you 5000, if you accept, they cannot help themselves and think that they could've offered 3000, they have regrets. If they are doing this together with someone else, husband, wife etc. they will be harassed 24/7 and told they could've gotten it for less, in fact, there is a good chance that other party wanted them to offer less. If they tell friends that they just offered 5000 for a domain and the guy accepted, even if the domain is car.com, their friends will tell them he could've offered more and the guy would've taken it.

NEVER accept an offer without countering it. If you are not a small time domainer and have made a lot of sales, you already tried that and you cant figure out why after you accepted the offer the person vanished.

When you make a counter offer, even if its just 5% of the offer, you forced them to stop thinking they could've gotten it for less. Now they think you wanted a lot more and are trying to just squeeze out some extra money. They might give in and accept and pay fast hoping you don't have a change of heart or they might offer their original or meet you half way, regardless, in their head they are now very proud of themselves for being great powerful negotiators and they can brag about it forever and hopefully help others buy domains using their "skills".

I have years of experience selling digital and non digital assets. If you want to stop feeling like a magician that makes people vanish, start countering all offers. If you fear they will be turned off, make a small counter.

But what if you have no morals and you want to do whatever it takes to increase your chances even more? Well, you lie. I don't suggest this but some argue that buyers lie too.

With your counter you can include a sob story and the reason you are ok taking such a small price.

"You happen to be contacting me as I am going through a divorce so I am in a difficult spot and would accept 5500, it's a far cry for the 65k I wanted for this name especially given the rise of prices in premium domains in the past few months. I had big plans for it but because of my personal situation if you close this deal today I will be ok with the 5500."

In real estate if a agent is desperate they usually say that they think the couple selling the house is going through a divorce. It's an old trick. People like to feel they got lucky, they like to believe they got a big steal and sob stories people love to share and consume.

I do not suggest these games, but hypothetically if someone here if not honest or you are on the buy side, you should know about this.

Why do you guys think expired names go for so much while if the same name would've just naturally dropped most of them would go unregistered? Because a lot of people view expired names as someone's misfortune, someone that forgot to renew, poor soul, his loss my win. In real estate, dishonest agents can claim the home is pretty much sold the buyer is just trying to secure a mortgage. This gets some people fired up and claim they can close right away and even pay more than the asking. Yes, the world is not as pretty as some people think it is.

If I had no morals I would setup landers that would convert almost every person that had the money to buy the name. People are lucky that most people in this business are honest. Domains with hyphens and numbers would be going for a million bucks if the mindset in this business would be the mindset of the average shitcoin operator or boiler room manager.

If enough people are curious how that lander would look like, I will share the ideas.

 

[aheiven]

If the domain is over 500 always counter offer. You will lose almost every sale if you don't. This is true in all industries not just domaining. You must counteroffer every time even if it's just a small amount higher.

This is how almost all people behave.

They like your name, they decide to offer you 5000, if you accept, they cannot help themselves and think that they could've offered 3000, they have regrets. If they are doing this together with someone else, husband, wife etc. they will be harassed 24/7 and told they could've gotten it for less, in fact, there is a good chance that other party wanted them to offer less. If they tell friends that they just offered 5000 for a domain and the guy accepted, even if the domain is car.com, their friends will tell them he could've offered more and the guy would've taken it.

NEVER accept an offer without countering it. If you are not a small time domainer and have made a lot of sales, you already tried that and you cant figure out why after you accepted the offer the person vanished.

When you make a counter offer, even if its just 5% of the offer, you forced them to stop thinking they could've gotten it for less. Now they think you wanted a lot more and are trying to just squeeze out some extra money. They might give in and accept and pay fast hoping you don't have a change of heart or they might offer their original or meet you half way, regardless, in their head they are now very proud of themselves for being great powerful negotiators and they can brag about it forever and hopefully help others buy domains using their "skills".

I have years of experience selling digital and non digital assets. If you want to stop feeling like a magician that makes people vanish, start countering all offers. If you fear they will be turned off, make a small counter.

But what if you have no morals and you want to do whatever it takes to increase your chances even more? Well, you lie. I don't suggest this but some argue that buyers lie too.

With your counter you can include a sob story and the reason you are ok taking such a small price.

"You happen to be contacting me as I am going through a divorce so I am in a difficult spot and would accept 5500, it's a far cry for the 65k I wanted for this name especially given the rise of prices in premium domains in the past few months. I had big plans for it but because of my personal situation if you close this deal today I will be ok with the 5500."

In real estate if a agent is desperate they usually say that they think the couple selling the house is going through a divorce. It's an old trick. People like to feel they got lucky, they like to believe they got a big steal and sob stories people love to share and consume.

I do not suggest these games, but hypothetically if someone here if not honest or you are on the buy side, you should know about this.

Why do you guys think expired names go for so much while if the same name would've just naturally dropped most of them would go unregistered? Because a lot of people view expired names as someone's misfortune, someone that forgot to renew, poor soul, his loss my win. In real estate, dishonest agents can claim the home is pretty much sold the buyer is just trying to secure a mortgage. This gets some people fired up and claim they can close right away and even pay more than the asking. Yes, the world is not as pretty as some people think it is.

If I had no morals I would setup landers that would convert almost every person that had the money to buy the name. People are lucky that most people in this business are honest. Domains with hyphens and numbers would be going for a million bucks if the mindset in this business would be the mindset of the average shitcoin operator or boiler room manager.

If enough people are curious how that lander would look like, I will share the ideas.T

Thans your sharing Nice