Fake purchases?

[Recy]

I have my portfolio listed several places (won't name names here) and recently I've got several offers that I've accepted and the buyer never follows through. Has this happenned to others? Happening very frequently (about once a week) now.

Curious is this is par for the course, and if so what it's accomplishing.

 

[WhoaDomain.com]

Guaranteed you are now on some mailing list in India. Marked "Responsive List" and will be sold 1000's over.

Expect a call from a Patel version soon.

Lol. No disrespect to Indians. They are industrious and resourceful people.

I can't knock their hustle!

 

[Recy]

That would make sense- but I only interact through the site so all they’d know is my seller Id or username. Don’t see much value there

 

[ResoluteDomains]

I have my portfolio listed several places (won't name names here) and recently I've got several offers that I've accepted and the buyer never follows through. Has this happenned to others? Happening very frequently (about once a week) now.

Curious is this is par for the course, and if so what it's accomplishing.

If I had a dollar for every time that happened to me..................... its part of the business. Though, I do not understand it for the life of me.

Its like walking into a car dealer, making an offer - coming to an agreement and then never paying or replying to phone calls from the dealer, etc. Just disappearing from the dealership into thin air...

Its mind boggling, to me, but its been my experience in this business for me for 20 years.

An inquiry is not a sale.
An offer is not a sale.
An agreement is not a sale.
Payment clearing is the sale. The sale doesnt happen until you have the money in your bank account.

 

[Recy]

If I had a dollar for every time that happened to me..................... its part of the business. Though, I do not understand it for the life of me.

Its like walking into a car dealer, making an offer - coming to an agreement and then never paying or replying to phone calls from the dealer, etc. Just disappearing from the dealership into thin air...

Its mind boggling, to me, but its been my experience in this business for me for 20 years.

An inquiry is not a sale.
An offer is not a sale.
An agreement is not a sale.
Payment clearing is the sale. The sale doesnt happen until you have the money in your bank account.

Totally agree, just seemd weird that all of a sudden there's a huge influx. I get someone getting cold feet, but pretty sure this is intentional making an offer knowing they'd never follow through and not sure why anyone would waste their time.

 

[The Durfer]

They are working you into a frenzy so that you will mess up on the deal, dont let it ruffle your feathers. If you put a 5% sale on your portfolio i bet you get a personal message to buy. Try it. Good luck.

 

[ResoluteDomains]

Totally agree, just seemd weird that all of a sudden there's a huge influx. I get someone getting cold feet, but pretty sure this is intentional making an offer knowing they'd never follow through and not sure why anyone would waste their time.

Its more than cold feet I think though I cant quite pin down what exactly it is. Cold feet is someone telling you they're worried or scared to make that purchase. I had ONE in 20 years tell me that and I still sold the name to him for low 4-figures. I walked him thru it. These people who walk thru negotiations and then agree on a price and then disappear without a trace are something else I think. Who does that?!

 

[PeakDots]

Its more than cold feet I think though I cant quite pin down what exactly it is. Cold feet is someone telling you they're worried or scared to make that purchase. I had ONE in 20 years tell me that and I still sold the name to him for low 4-figures. I walked him thru it. These people who walk thru negotiations and then agree on a price and then disappear without a trace are something else I think. Who does that?!

Had an offer for a name about 3 months ago. We agreed on a price then all of a sudden said he needed more time... Ok no problem. After about a week sent a reminder. Still needed more time... Ok no problem.
I know stuff happens in life so I was ok with waiting a bit.
After about 2 more weeks go by I sent another reminder with no response back. Waited another week sent another reminder... (Now a month of waiting) Still no response.
Well now I assume he doesn't want the name so listed it back on the market for sale.

Still never heard back from the guy. Don't know what happened so just have to keep moving on.

 

[ResoluteDomains]

Had an offer for a name about 3 months ago. We agreed on a price then all of a sudden said he needed more time... Ok no problem. After about a week sent a reminder. Still needed more time... Ok no problem.
I know stuff happens in life so I was ok with waiting a bit.
After about 2 more weeks go by I sent another reminder with no response back. Waited another week sent another reminder... (Now a month of waiting) Still no response.
Well now I assume he doesn't want the name so listed it back on the market for sale.

Still never heard back from the guy. Don't know what happened so just have to keep moving on.

I never allow the domain off the market until the payment clears. Its just something I learned. Sometimes I wonder if people, some who hate domain investors (https://morganlinton.com/some-peopl...-recently-shared-some-choice-words-on-my-blog) do that to take the name off the market for weeks, months.

Until we are treated like any other investor in the world this sentiment will continue I think.

Interesting story: One time, someone made an offer for a name on Sedo on a Friday. 4-figures. I accepted. I waited all weekend to get notice that payment was in process. Then all the next week... I had very little details about the buyer, just an ID. I did my best to find out who the buyer was and I did. He apparently made the offer and then flew out that night from his country to another to go watch a moto-cross race. He was killed in a car wreck as he was going from his hotel to the race. I emailed Sedo and asked them if that was the person. They got back with me a few hours later and confirmed that it was. It was very sad. I am sure sometimes these things happen to other domain sellers. I just learned to keep the domain available for sale.

 

[ResoluteDomains]

Totally agree, just seemd weird that all of a sudden there's a huge influx. I get someone getting cold feet, but pretty sure this is intentional making an offer knowing they'd never follow through and not sure why anyone would waste their time.

Mine ebbs and flows as does most everything else in life I guess. Right now I am in a lull with non-payers. I've got a lot of inquiries in 2020 but no bites to my replies. The year is young however!

 

[PeakDots]

I never allow the domain off the market until the payment clears. Its just something I learned. Sometimes I wonder if people, some who hate domain investors (https://morganlinton.com/some-peopl...-recently-shared-some-choice-words-on-my-blog) do that to take the name off the market for weeks, months.

Until we are treated like any other investor in the world this sentiment will continue I think.

Interesting story: One time, someone made an offer for a name on Sedo on a Friday. 4-figures. I accepted. I waited all weekend to get notice that payment was in process. Then all the next week... I had very little details about the buyer, just an ID. I did my best to find out who the buyer was and I did. He apparently made the offer and then flew out that night from his country to another to go watch a moto-cross race. He was killed in a car wreck as he was going from his hotel to the race. I emailed Sedo and asked them if that was the person. They got back with me a few hours later and confirmed that it was. It was very sad. I am sure sometimes these things happen to other domain sellers. I just learned to keep the domain available for sale.

Sad to hear that story.We never know what could happen at any minute.

Sorry I need to correct myself. I left it listed as make offer only. (Not completely off market) but I had added a buy now price on the name so anyone can purchase with no negotiations needed.

 

[ResoluteDomains]

Sad to hear that story.We never know what could happen at any minute.

Sorry I need to correct myself. I left it listed as make offer only. (Not completely off market) but I had added a buy now price on the name so anyone can purchase with no negotiations needed.

In 20 years I've never had two people fight over a domain name but, you never know! Also a good reason to not set BIN at more than one marketplace - just in case.