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Domain Selling Psychology - An inside look!

Located in FAQ, Rules, and Help Guides started by Eric Lyon, Jan 10, 2013.

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  1. BrandKart

    BrandKart Pick the right name with us ! Gold Account VIP

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    Thanks Eric,

    This will make me understand it much simpler.

    ok iam the buyer I have mailed you I will buy it, you have researched about me that I like basketball , so how would your reply me.
     
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  2. Eric Lyon

    Eric Lyon Member Services, NamePros Super Moderator PRO Gold Account VIP Trusted Contest Holder

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    From a buyers standpoint, it's a little different, my references prior were from a sellers standpoint. As far as flipping the coin over, (Just a hypothetical example) if I researched you and your domain for sale, then formulated an offer to acquire your domain asset, I would probably start off with a friendly personal greeting and brush the topic of basketball, pointing out how their team should have won the last match-up. I would then express my disappointed that they dropped the ball on winning that one.

    With the above setting the foundation, I would then move into how today I was searching for a new start-up project but don't have much in the way of a budget. I would then follow that up with an offer that does not exceed 25% of the fair end-user market value.

    From there, the negotiation begins and should include at least 1 paragraph in each reply that relates to your commonalities (Possibly different ones). If you can keep the potential seller on a personal level psychologically through the negotiation, the chances of getting a better price double in that comfort zone.

    That's just my opinion. Everyone uses a different technique.

    I hope that helps explain a bit better.
     
  3. Loxline

    Loxline Account Auto-Closed

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    This is manipulation.

    In manipulation process you will twist your thoughts, desires and actions and blow up everything (100%).

    Establishing trust is imperative!

    Once you make your offer, stay strong. Take your time (positive deals come to those who wait vs chasers)!

    Use the research (DN analyses) in โ€œthe PDF presentationโ€ to justify your offer and stick to it.

    Make sure to pay attention to all aspects of the deal. Especially when it comes to formal or informal communication, split the difference moments, fools counteroffer and if you let your emotional impulses take over - you lose.

    Keep the bridge open! Constantly!

    The words you write or speak to buyers can leave a huge impact and create a lasting memory; either bad or good.
     
  4. bossbiz

    bossbiz New Member

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    Quite interesting,
    Does it mean that part of what one needs to do before contacting an end user is to research and probably connect with him or her on social media in order to build trust?
     
  5. BaileyUK

    BaileyUK Established Member

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    Well it's nice to see this worthwhile thread get a fresh Airing, In regards to your above question bossbiz, Of course do your research about the potential buyer, I think most of us have a set-process that we seem to follow. However I would never try to connect with a potential buyer through Social media - Now you are invading their personal space, and it will be seen as such. (almost Creepy)

    keep business as business and only use the appropriate channels.

    nothing wrong in viewing any available(public) social connections etc. Just don't step into it
     
    Last edited: Jun 14, 2018
  6. karmaco

    karmaco Active Member VIP

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    Fair market value is super subjective. As far as manipulation what do you guys think all marketing and sales are? ๐Ÿ˜‚ You push all the buttons when you want to sell something in a normal scenario.

    For domaining I personally just stick to the facts and keep it business like. Now if I was buying and needed and wanted a deal social skills could work in my favor. Too much buttering up and either party if even slightly saavy will see through that in a heartbeat. I think itโ€™s a fine line when trying to conduct business not make a new buddy.
     
  7. NameSplice

    NameSplice Established Member

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    F) Defensive Buyer

    Yep,know this feeling. Especially in a car lot. I know what I like and if I like it I'll buy it. I like to shop in peace.
    I don't need a salesman up my rear trying to convince me of what I like. This is just aggravating to me and I just tell them don't worry about. Then I'll head to a different lot.They just lost out on a sale for being pushy.

    I'll eventually find a lot with a salesman that understands that some just like to shop in peace.:xf.smile:

    Surely with premium names not much convincing is needed. The buyer will find you and should already know how it will benefit them.

    Doing outbound on average names just try not to be too pushy as it can turn away a potential buyer.
     
    Last edited: Jun 14, 2018
  8. karmaco

    karmaco Active Member VIP

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    I am going to assume you are a Gen Xer am I right. ๐Ÿ˜‚ GenX wants to shop in peace Millenials want to chat and build rapport.๐Ÿ™„
     
    Last edited: Jun 14, 2018
  9. NameSplice

    NameSplice Established Member

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    (y)
     
  10. Nauman Butt

    Nauman Butt New Member

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