End-users who show great interest and then do not buy the domain

[infosec3]

Instead of starting two threads, I wanted to make two comments about two related topics on this one and see what your experience has been in one case or the other.

Topic 1
In the process of selling domains, I once in a while stumble with some end-users who initially show great interest in a particular domain name and then stop communicating.

My most seccessful sales are those that are done immediately after the first contact. Have you had a similar or different experience?

Topic 2
In my experience, the cheaper the end-user is, the more trouble he gives you. For example, end-users who would not pay more than $300 for a domain are generally more inclined to show distrust about paying before the transfer or want you to give them reassurance about how beneficial the deal is for them, etc.

Now, don't get me wrong, I have communicated with a large number of low-budget end-users who are great and polite individuals. But once in a while I meet the ones described in the previous paragraph.

On the other hand, I have had end-users who would buy a $1000 or $2000 domain at the speed of light, without virtually any question asked. (These $1000 and $2000 sales I closed on 2011 and 2012). Most sales thereafter have been under $1000. Any comments on this topic?

 

[Jasonn]

lots of end users who agree to purchase for an amount then disappear. its very annoying. my sales would be double or more if not for this.

 

[johname]

Your domain not necessarily the only domain they are chasing. And once they make a decision to buy the other person's domain, some will not talk to you anymore.

 

[werty]

It's part of this business. It's like a funnel in terms of closing sales. Sometimes people hold back to think about it twice. But this is normal sales process. Even when you go to a physical store, you might pick something up and put it in your cart and before you checkout, you change your mind and take it out of your cart. But yes it's annoying for people to make an offer or agree to purchase and then disappear. I would prefer for them to say they will "think about it" instead of agreeing and then thinking about it.

And same here about "hard to deal" buyers. They tend to be the cheap a** ones. I sometimes even decide not to deal with them as it's not worth the time and headache. It's funny because the other day an end user wanted me to sign a contract on a $100 deal. I said "forget it".

 

[infosec3]

Werty: "It's funny because the other day an end user wanted me to sign a contract on a $100 deal. I said "forget it".

Too funny...:D

 

[NPer]

Yes, it happens quite often. But the way I've always approached it, is to let the end-user be as he is.

I have this policy for email inquires: send one reply, for every email received.
I can't imagine sending more emails to someone who hasn't responded to the last one I sent. There is obviously a reason for that.

If contact has been made by calling my number, then I do a follow up also by calling (as agreed on the initial call). Only calls that the buyer has agreed to receive, I make. I've flipped names like this locally (in my country).

Excessive emailing/calling can make the end-user view you as being an annoying pest... and you may indeed screw upa potential deal at it's beginning stages. Play it smooth.

I try to put myself in his/her shoes. When they "disappear" it could be because they found another domain instead-which is fine.

In some cases, they do want the domain, and are willing to pay, but just need time to get their pennies together. This one end-user mailed me in May 2013, and after quoting him the price, he didn't respond. I didn't do a follow-up at all... I, in fact, forgot about this guy. 11 months later: April 2014, he came back asking if the domain was still for sale, because he'd like to buy it. I quoted the same price...and without any questions, he bought it.

I guess it's all part of the game.

 

[werty]

It really depends if domaining is your full time job or part time as well. For me, it's full time. So that means I have to sell to pay all my bills and taxes. I do sell more than a domain per day on average and have been like this for the last 3 years. It also has been proven that most buyers can loose interest within 72 hours and this applies to any industry. So in my opinion, a buyer coming back months later does happen, but not that often. I usually follow up twice and if I don't hear back, I then move on.

 

[forge]

Werty: "It's funny because the other day an end user wanted me to sign a contract on a $100 deal. I said "forget it".

Too funny...:D

I had a similar situation. The company had their IT guy "handle" the transaction, and he was insistent their lawyer required a contract I would have to get notarized and then fax for proof of ownership. He was such a tool. I told him no way. It was very low $x,xxx but I wasn't going to play their games. A bit more to the story, but in the end Mr. Tool and the "sale" vaporized into the ether forevermore.

(Spiteful comment rescinded. For the time being.)

 

[GoWeb]

On the other hand, I have had end-users who would buy a $1000 or $2000 domain at the speed of light, without virtually any question asked. (These $1000 and $2000 sales I closed on 2011 and 2012). Most sales thereafter have been under $1000. Any comments on this topic?

My most successful sales have also been those at $2k and above and where the end user straight away accepts or counters your offer. These are mostly intelligent people and decision makers who understand business lot more than the "humpty dumpty" end-users.

I suffered much heartburn over a $750 domain deal with an Italian buyer who claimed that there was no money in Italy, that they were bust, that it was all over the world in newspapers. He delayed the payment, then delayed the receipt of domain etc. Of course, he initially offered me $10 for the domain.

And same here about "hard to deal" buyers. They tend to be the cheap a** ones. I sometimes even decide not to deal with them as it's not worth the time and headache. It's funny because the other day an end user wanted me to sign a contract on a $100 deal. I said "forget it".

I have had plenty of them too, you should have told him to "Fly Down" and come meet you if wants his $100 contract signed. :D

 

[garptrader]

Yes, it is quite common to have end users interested in a domain until they realize that isn't going to be free.

 

[AEProgram]

the few that figured out the power of buy now systems make money, the rest are busy buying names for 120 bucks and selling them for 5 bucks on namepros

 

[jideofor]

Well, if not for this nonsense by endusers, I would have closed 3 deals in one month in May. Two asked how much, for which I quoted them a price. One would expect that they will counter if they arent satisfied with my prices. No news till now and to think that one of them spent $20k to purchase 4 domains with L+kEYWORD is really annoying. He still bought some in that niche not long ago but mine was still better.

Another guy contacted me for a brandable which I owned.I told him that I had wanted to use the domain for same reason he wants it for but I will only sell if his offer was very good. So, I asked him how much was he willing to pay. I dont know if I said anything wrong but that was the last I ever heard from him despite emailing to know what was up.

I would expect them to at least try to give their own price but nope... they dont wanna do so.

 

[werty]

In my experience, this has always happened in this industry. But I see it happening more often now and then ever. My guess it's the economy. Businesses are tight on cash flow so maybe they want to purchase but they can't?

 

[jideofor]

In my experience, this has always happened in this industry. But I see it happening more often now and then ever. My guess it's the economy. Businesses are tight on cash flow so maybe they want to purchase but they can't?

I disagree... I don't know about anyone but my guess is that we have all been to store or a market to buy something that we need.

In my case, what I usually do is that if you tell me your price, and if it's higher than what I had in mind or can afford, I will still make efforts to tell you my budget or what I KNOW that I can afford. It's simple courtesy!

These end user should understand that they are dealing with humans... personally, I consider it an act of disrespect to ask how much and never reply emails afterwards. I would appreciate it more if you tell me "sorry, I think I had a change of heart and wont be going on with the deal" It's better that way than keeping silent.

Who makes a fool of himself after all?

 

[werty]

Yeah well it's the way it's. I am used to dealing with that everyday so I just move on.

 

[SlimPickins]

for me the big factor in '"response rate", as probably is the case with many people, boils down to whether I reached out to them or they researched my domain and contacted me. I have no problem with the people that are at least "somewhat" interested and respond to an email from me and ask "how much?" but don't bother to reply once they know the price. Same goes with radio silence from people that I email with the price indicated in the initial email. I took time away from their day to read (and maybe reply to) my email that put the "possibility" on the table for consideration but that does not mean they owe me the courtesy to follow up and politely pass on the chance.

But, when they reach out to me, they generally are much better about following up and/or continuing to negotiate.

I have found that my best sales generally are when I actually talk with the person on the phone.... I hate phone sales but, when someone has expressed interest per email wants to talk about it on phone, it has always gone well and the deal is sealed much faster.

I too have had unexpected flakes..... for example from doctors etc that disappear after a price is agreed on. weird. Had another doctor that I had emailed FINALLY reply to my original email 9 months after I sent it asking if was still available and was willing to buy at $100 less than my original price... but then took 2 months to close because he was so out of the loop with the transaction, he thought it was all taken care of by his secretary and only jumped back on the ball when I followed up a final time saying the deal was off if not finalized by end of the week.

Have also had a large company interested in a domain make offers through 2 different brokers, make an inquiry through a domain specialty lawyer and even trademark the term in my domain, but never raised their initial 1K offer or followed up again.

A big factor too is whether they are a "1 domain" enduser who "already have the domain they need" or are (or have someone working for them that is) knowledgeable in SEO, domain management, payments and transfers etc, benefits of owning relevant domains even if they don't "use" it per se etc.... it seems that the ones less informed and less comfortable with the whole sale/transfer/use process are more likely to be interested, ask lots of questions, still be interested and then disappear simply because it is so intimidating or something. I am also not surprised when they do go through with the deal but show a lot of hesitation or distrust with the process because they want to know that it is done right/safely but generally don't know how to go about it.... I know who I am, but they don't, so I don't blame them and am willing to work with their uncertainties within reason if need be or educate them on how to be safe etc.

My best sales, although often being within a week of first contact, have also happened over a year afterwards. Had a few xxxx sales where negotiating stalled but several months or a year+ either they or I followed back up and found a price after all that was at or very near my original price.

So I guess there can be surprises, both pleasant and irritating, in any situation, no matter what the domain is or who the buyer is! Keeps the game fun I suppose....

 

[garptrader]

I know there are those on these forums who make regular $XXX sales to keep the cash flow going. Keep doing what works. Just keep in mind that while the business you contact may not really need your domain, they regularly spend many thousands of dollars on all sorts of regular expenses. $XXXX really should not be an insane price for a business' brand - particularly if is a search phrase which could help bring in additional business. But of course they will still want your domain for $50 anyway.

 

[maksimfa]

As a business owner I think a lot of folks who complain about getting a contract signed are just being too fussy and short sighted.

It does not have to be huge, just something small, that will pass muster with the business owners CPA, or attorney. Plenty are avail online.

 

[DomainComplex]

I had a guy send me two emails in a row last week about four of my domains. He sounded really excited, too. Haven't heard a thing since I replied. I didn't make an offer in my first response, though.