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Dealing with very low offers: Flat out reject or offer/counter ?

Labeled as offers in Domain Buying and Selling Discussion started by NYJimbo, Oct 27, 2018.

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  1. NYJimbo

    NYJimbo Domain Re-Animator

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    When dealing with a domain that you have up for BIN on a sales platform and that is priced below $1,000 and you get a pitiful offer like $50 or $100, do you find it better to just flat out reject and wait for a counter offer or to respond with a lower price than BIN ? I mean what do you find to be best response to the buyer on average.

    I'm not talking about a hot or liquid domain, but something you think has value but does not look like big money.
    This is also for a platform where you do not have the ability to talk to the buyer, but just do the offer/counter offer thing.

    Any comments, ideas, etc appreciated.
     
    Last edited: Oct 27, 2018
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  2. xynames

    xynames XYNames.com PRO VIP

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    I did get one of these 50 offers up to 4000 and closed the deal but in general the lowball offers end up going nowhere.

    I do respond to all offers politely.
     
  3. BaileyUK

    BaileyUK Top Member VIP

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    If it's on a sales-platform, then best you counter or reject otherwise you'll just keep getting reminders. I tend to just reject anything below $xxx. the potential buyer will just submit a higher offer anyway, If he is that interested
     
  4. wizard

    wizard Domain Wizard VIP ★★★★★★★★★★

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    All depends on the quality of names and how much the investment was as soon and what your end plan is far too many people are too greedy with poor quality domains if you want to make money sell some of the poor quality at low end prices it all adds up ! use your profit to buy more
     
  5. Bob Hawkes

    Bob Hawkes formerly MetBob NameTalent VIP

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    I would respond even if to simply say that i could not accept an offer at that level and to invite them to reconsider.
     
  6. Mister Funsky

    Mister Funsky Top Member VIP

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    If they offer me $50 for a name that is worth twenty or more times than what they have offered, I block them, their ip, their email, their kids email, the neighbors phone number, their great aunt bessie's twitter, the local mayors mistresses contact info...

    If their offer is remotely in the ball park I will respond with data/stats justifying my pricing and hope they have the capacity to understand the info and open a dialog. If they do not respond in a positive manner I just move on...as the wise sage of recent fame has said "I aint got time for that".
     
  7. MapleDots

    MapleDots Domain Properties 2010 - 2019 VIP

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    I do not respond to any offers under 1k, it says so specifically when inquiring about a domain on my site.
     
  8. DeliDomains

    DeliDomains Oswin

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    I usually respond to low ball offers because they buyers are also testing how deep the water is and how experienced the sellers are. I quote my price and if the second incoming offer is a lowball, then I do not respond else I keep the dialog going.
     
  9. Jay Ha

    Jay Ha Exploring..

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    My opinion is that countering their offer with something like $999,999 is always better than not replying to their enquiry at all. Since you can't use words this would show them that their offer means nothing just like the counter offer that you sent to them.

    Or you could always use 1337 language?
     
  10. karmaco

    karmaco Top Member VIP

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    Or you could raise the lowest offer allowed and then you won’t get those low balls at all.
     
  11. bmugford

    bmugford www.DataCube.com PRO ICA Member VIP ★★★★★★★★★★

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    I will generally not respond to terrible offers. If I do it will be maybe a "No Thanks" or "Please make a serious offer if interested" type response.

    If they double down on their offer with a comment that enforces it like - "I will offer $50. You have owned it for many years and no one else will ever buy it", then I will not respond to that type.

    I focus my time and energy on the ones that have the highest likelihood of panning out.
    Really bad opening offers rarely do.

    Brad
     
  12. dot_AL

    dot_AL Upgraded Member Gold Account

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    Exactly what I did, someone thought he could get a good quality domain of mine for 100$ I replied back with 99,999$ loll. Never heard from him
     
  13. FolioTeam

    FolioTeam Established Member

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    Lol. Had to laugh at that $50 statement
     
  14. tomcarl

    tomcarl Top Member VIP

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    When I get the obvious lowball offers, I always respond to give myself a smile/laugh by Thanking them for their very generous offer but having to decline at this time, they usually always come back with something higher, or a lighthearted response. But I never humor lowball offers by responding with an actual number until there's that rapport, otherwise it can look eager.
     
    Last edited: Oct 28, 2018
  15. Kpett

    Kpett Established Member

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    I always give a response to all offers - you never know where it will lead, and it only takes a minute of my time. I had an initial $100 offer finally close at $1500. You never know how bad they really want the domain - so it's worth a minute of my time.
     
  16. Kate

    Kate Domainosaurus Rex VIP ★★★★★★★★★★

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    I think it is perfectly acceptable not to respond to such lowball offers, especially when your price expectations have been made clear on the lander page.
    Lack of response is a response.
    Your time is valuable, by not replying you are telling the other party you have no time for games. This is not the flea market where you argue about the price of an old chair or some item that is easily replaceable.

    If the buyer is motivated, he/she will make another approach, because it's also possible the first E-mail didn't reach the domain holder.
    In addition, you can still put a link to Sedo or escrow.com so that the buyer can proceed with purchase at BIN price without interaction from you. Make it easy for the serious buyers to buy your domains, and maintain a barrier for the tire-kickers.

    Sure, people are testing the waters, but how many times are those lowball offers going to convert to meaningful offers. It's not like people are simply getting the ball rolling here, the asking price is already known.
     
  17. LeapNames

    LeapNames LeapNames.com Gold Account

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    In general I respond, but make it clear we're not even close and they have to come up to even be considered. I had an offer go from $100 up to $600 on a name I own just recently (I was looking for $800 minimum) but at least it got to a respectable amount.

    This is probably obvious, and what most people do, but I try to put my prices a bit higher than I want and give myself some wiggle room so they can feel like theres give and take.
     
    Last edited: Oct 28, 2018
  18. J Sokol

    J Sokol Established Member

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    I just had a domain listed on Undeveloped for $1250 and Make Offer on GD. I received an offer of $150 on GD the same day the listing appeared on Undeveloped (I have a feeling the buyer saw that listing and thought s/he would try to get it cheaper on GD. When I countered with $1250, they jumped to $750, and we settled on $815. So in this case it was worth negotiating. Once they saw I was serious, they got serious too.
     
  19. AGAME

    AGAME Top Member VIP

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    I always counter with my honest price - that is the best response I can make. However I have never closed a deal with anyone who began negotiations at low-ball amounts. I think I need to begin rejecting or ignoring because countering has not worked in nearly 2 decades now.
     
  20. topdom

    topdom Established Member

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    I was offered 100 usd for an .info. I countered 5k. After one week they accepted it. Many years ago I was also offered something for it, and my counteroffer was again 5k, but offers didn't get close to a sale at that time.

    It would be good if you have this kind of image:
    -I know what my domain is worth. I don't plan to increase the price to get more, or decrease it because I'm desparate.
    This image may work if you are dealing with an enduser.

    But if your counteroffer is 5K, and you drop it to 500, even if the buyer was normally willing to buy for 500, wouldn't buy it and expect you to drop the price to 50, or just quit, assuming he was originally interested in low quality product, and the seller is a scammer.
     
    Last edited: Oct 31, 2018
  21. lolwarrior

    lolwarrior Founder, Brands.International VIP

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    The best way to deal with low-ball offers is not allow them to happen in first place...they will only annoy you.

    Put minimum 500 or 1k at your settings (for example, I use undeveloped for many of my domains, and I simply setup 500 minimum for all my names there, period). This eliminates fellow domain investors giving you $50 offers on your best names, you can live without that easily :)
     
  22. okmachan

    okmachan Established Member

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    If it was on sedo, I’d check the buyers information to to see the account creation date. If he is new he is a probably an end user. Otherwise a reseller like us.
     
  23. DnameAgame

    DnameAgame Check out the new BrandPlease.com Gold Account

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    Here is an actual response I sent yesterday to a low-ball, but I felt "real", offer. Because this person took the time to write a few sentences about why I should consider their price - I believe they deserve a thoughtful response. If it is clearly non-sense fishing offer I wouldn't take the time, but I would never waste an opportunity to be be professional and offer as much as I can to anyone who reached out, sincerely.

    (identifying info removed & price shouldn't matter, but it was xxx offer for a xxxx name, typical.)

    "Thank you for your response & all the best in your search - we are a bit too far off on price to come to an agreement, it seems.

    As a start up, your domain will make a huge initial and ongoing impact on your business. The cost to promote, advertise, & market your new business, your brand, and give yourself a good shot at success - changes (greatly) based on your domain name. Just a big big point that many overlook, & I am not trying to pitch you on this name - you have made you cost constraints clear - just passing on something to work into your launch/marketing budget and make sure you are not, possibly, overlooking your brand name as a true top level marketing line item.

    Good luck and keep my site around, there are tons of free resources, geared towards start ups, even free SEO tools that you are welcome to check out and use. & Feel free to touch base anytime in the future if I can assist in any Domain, Branding, or Design efforts.

    Thanks,
    Brian"
     
  24. J Sokol

    J Sokol Established Member

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    That's a nice note @DnameAgame - informative and respectful. I also like the fact that you offered other resources to the buyer.
     
  25. Bob Hawkes

    Bob Hawkes formerly MetBob NameTalent VIP

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    Fantastic letter @DnameAgame - thanks for sharing! Things I liked in particular:
    1. In first sentence it points out far apart in price, but note that it does not assign who is wrong on price. I think the respect this shows is smart!
    2. I like the generic nature of the paragraph on why the right domain name is important. Strikes just the right tone to me!
    3. As @J Sokol says, your site offering general resources really works well with the third paragraph.
    4. The final sentence nice positive non-pushy way to end letter. Leaves door open.
    It is great! Thanks!

    When the offer is closer to your expected price, would you add information on comparator sales that support the price asked, or do you not share that sort of detailed information via email?

    Bob
     

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