End user needs advice on how to buy specific name

[needname]

Hello, I'm an end user who's fixated on a certain generic, brandable domain for my business, but I'm having a hard time getting the domainer to engage. I would love your advice. They own thousands of domains that are listed on sedo as "make offer." What's happened so far:

- I emailed directly an offer in the low-mid hundreds to test the waters, and they said that's too low, they weren't interested. They wouldn't offer a counter.

- A while later, my friend emailed an offer in the low $x,xxx, and got no response.

I don't have deep pockets and am funding everything myself, but I'd be willing to pay about $5K or so, which seems more than fair given sales histories for very similar names on namebio. Do you have any advice on how I should approach this seller again? I could use sedo's "make offer" functionality, or use a broker, but I'd rather save on the transaction fees if I can. And I don't want to signal that I can pay a lot by using a broker, when in fact I can't.

Thanks for any input!
NeedName

 

[bmugford]

It really depends on the specific domain name and the owner.

If you are offering low $X,XXX for a great generic or brand then you might have unrealistic expectations.
There is also the chance that your offer is fair and the domain owner is unrealistic about the value.

Either way I don't really think offering on SEDO or using a broker is going to help that much. You basically are going to need to make a better offer to engage the owner.

Feel free to PM me the name and I will see if I can help.

Brad

 

[AEProgram]

5k for a name to build a business on sounds nice, but did you consider another name maybe? Did you think about using a name you can handreg or for less and spend the money you save on marketing?

I cant comment on a name unless I know what it is, for all I know its a name that can go for lots more then you offer etc.

Just be happy a famous domain broker isnt in control of the name, or whatever this guy wants it would be 5000x that, so at least you have one thing good on your side.

 

[FPForum]

"generic, brandable domain for my business" - Unfortunately, that just isn't enough information in this industry, lol. Can you give us any more specifics? What niche/industry is it in? Is one word or two..or even three?

If we're talking about $5k for a generic one-word .COM then I'm afraid you may be way off. On the other hand, if it's two words or a one-word .NET or something like that it could be a completely different ballgame.

All in all, he has the names listed on Sedo and they're listed with the option to Make an Offer...Your best bet is to put in your highest offer and see what he does. Maybe he counters? At least then you would have an idea... Maybe he quickly rejects it again? At least then you know it's time to move on.

There's no need to hire a broker..Make your offer through Sedo and see what he does. Maybe the amount will even raise a flag with them or something and they will try to contact the seller. Remember, Sedo would get a commission off that as well..

 

[johname]

Offering low $x,xxx and not getting a counter offer is a big clue they would want more than your 5k.

I would try to get them to spit out some number they would actually sell the name for, before giving an "all I got is 5k"

Continue with the direct email route. Just try to get a conversation going.

 

[forge]

Continue with the direct email route. Just try to get a conversation going.

There are many instances when that is simply not possible. I have been there. You drop the name and move on.

I'm not necessarily saying that's the case here. In my situations I could not get a response, at all, ever. The OP here at least got an initial response, so maybe there's hope, but neither would I hold my breath.

 

[AEProgram]

keep in mind even people with great domains rarely get emails about them, so the games of you emailing then a friend etc would be obvious its the same person

you can always try a lease with a buyout option, hopefully the business does great and you can buy it

 

[needname]

Thanks for all the replies! Really helpful to get some insight into the situation. It's a four-letter non-word, doesn't mean anything, but easy to pronounce. Looking at namebio, it seems like $1K to $5K is totally fair for a 4-letter non-word, with the exceptional five-figure sale here and there when the buyer is an established business.

Curious to know what next steps you would recommend? Should I reach out again after a certain time, or just wait until I have deeper pockets? My fear is that if I wait months, the domainer could sell it to someone else or auction it somewhere and I wouldn't even know.

---------- Post added at 03:03 PM ---------- Previous post was at 02:59 PM ----------

Also, this domainer has 5 bars on sedo. Does that mean they generally counter when people send them an offer?

 

[bmugford]

Well a four letter easily pronounceable .COM can sell for a lot. Domains like that are very desirable for branding.

This is really just going to come down to a number. Tactics don't matter.

I think you should just to contact the owner and make your best offer. Either you will be in a range they will consider, or it won't even be in the same ballpark.

Brad

 

[johname]

Thanks for all the replies! Really helpful to get some insight into the situation. It's a four-letter non-word, doesn't mean anything, but easy to pronounce. Looking at namebio, it seems like $1K to $5K is totally fair for a 4-letter non-word, with the exceptional five-figure sale here and there when the buyer is an established business.

Curious to know what next steps you would recommend? Should I reach out again after a certain time, or just wait until I have deeper pockets? My fear is that if I wait months, the domainer could sell it to someone else or auction it somewhere and I wouldn't even know.

I highlighted your problem. Put money aside for a year, brown bag lunch and try again next year.

Some people are not in this game to sell at the going rate.

Goodluck

 

[AEProgram]

Thanks for all the replies! Really helpful to get some insight into the situation. It's a four-letter non-word, doesn't mean anything, but easy to pronounce. Looking at namebio, it seems like $1K to $5K is totally fair for a 4-letter non-word, with the exceptional five-figure sale here and there when the buyer is an established business.

Curious to know what next steps you would recommend? Should I reach out again after a certain time, or just wait until I have deeper pockets? My fear is that if I wait months, the domainer could sell it to someone else or auction it somewhere and I wouldn't even know.

---------- Post added at 03:03 PM ---------- Previous post was at 02:59 PM ----------

Also, this domainer has 5 bars on sedo. Does that mean they generally counter when people send them an offer?

for every one person that sells a name for 2K + there are several million names who are asking 2k+ and not getting it, some will even drop

some 4 letters go for 20 bucks some will go for 6fig

 

[Magicpig2]

Offer the seller $7.5K. If you still hear nothing back you know you haven't got a chance. If they respond with a higher offer you can at least put hand on heart and tell them you've gone over budget already and that's absolutely your last offer. If they accept, pay the extra and get on with making your business a success.

And as a last resort, send them a link to this thread!

 

[AEProgram]

Offer the seller $7.5K. If you still hear nothing back you know you haven't got a chance. If they respond with a higher offer you can at least put hand on heart and tell them you've gone over budget already and that's absolutely your last offer. If they accept, pay the extra and get on with making your business a success.

And as a last resort, send them a link to this thread!

would be funnier if the domain owner sends the thread starter a link to this thread lol

 

[alien51]

It's a four-letter non-word, doesn't mean anything, but easy to pronounce. Looking at namebio, it seems like $1K to $5K is totally fair for a 4-letter non-word, with the exceptional five-figure sale here and there when the buyer is an established business.

How a domainer would react to such offers for domains in the "mainstream" category, is pretty much RANDOM. Some will be willing to engage, while some might be quite a boner. Very random response. You can go through the usual textbook negotiations like starting with a low bid, gradual increase in offer, then final offer, you know, the usual routine. For the real boners, you can do the take-it-or-leave-it approach. Offer your "best price or i'll walk away" and let him think about it.

Curious to know what next steps you would recommend? Should I reach out again after a certain time, or just wait until I have deeper pockets?

If the guy owns thousands of domains with a 5 bars rating on sedo, it probably says that they can go on with life without you. If you really don't have the money, just offer your best price and let him think about it. I have done that many times as an end-user, and many of the sellers contacted me again after some time asking if i was still interested. Sometimes they contact me after a year has passed.

My fear is that if I wait months, the domainer could sell it to someone else or auction it somewhere and I wouldn't even know.

Demand drives up the price tag of any merchandise. It's up to you to assess whether the domain REALLY has lots of potential buyers. Playing with your fears that you might not get the goods, is how people make money in a free market capitalism.

If the seller is already asking for unreasonable figure, prepare to walk away.

 

[yogiDomain]

IMO its just some domainer who has regular cash flow so he doesnt care if he gets such a low offers.
You just use the "I will walk away","Take it or leave" and if you are in tight budget then just find some other name . Brand Bucket is a good place to find some good name with your budget of $5000.

 

[needname]

It seems like majority opinion is that I should lay out my cards, give my best offer, and let the guy sit with it for a while. That makes sense--even if they get another offer somewhere else, they'll still use mine as a benchmark and maybe they'll circle back to negotiate months or +1 year from now. I'll plan to do that in a few days and let you know how it goes.

Is it better to send offers through email or sedo? Seems like sedo might be safer for both sides, but do domainers really care?

 

[johname]

Make the offer through direct email so he/she has at least a temptation to use cheaper escrow than sedo's high commission

 

[bmugford]

It seems like majority opinion is that I should lay out my cards, give my best offer, and let the guy sit with it for a while. That makes sense--even if they get another offer somewhere else, they'll still use mine as a benchmark and maybe they'll circle back to negotiate months or +1 year from now. I'll plan to do that in a few days and let you know how it goes.

Is it better to send offers through email or sedo? Seems like sedo might be safer for both sides, but do domainers really care?

Via email. SEDO's fees are 15% - 20%.

It is far more appealing to sell the domain directly outside their service. For safety you can use Escrow. They have a specific process designed for domain sales.

Brad

 

[AEProgram]

It seems like majority opinion is that I should lay out my cards, give my best offer, and let the guy sit with it for a while. That makes sense--even if they get another offer somewhere else, they'll still use mine as a benchmark and maybe they'll circle back to negotiate months or +1 year from now. I'll plan to do that in a few days and let you know how it goes.

Is it better to send offers through email or sedo? Seems like sedo might be safer for both sides, but do domainers really care?

you need a domainer to help you asap, the way you are going about this sounds very very costly

 

[yogiDomain]

you need a domainer to help you asap, the way you are going about this sounds very very costly

Ya thats wat i was thinking.
I think the domain owner is asking too much. for a 4 letter non generic word.
You should check the previous sales if you can. If you are too desperate to get the domain and this domain name is going to help you brand the business the best ,then you should put some more cash on the table to force the owner to sell it. Else just use take it or leave method.