discuss How do you respond to a $10,000 offer on a domain you’d be happy to get $5,000 (or less) for?

[News]

So here’s an interesting question that I know all of us likely have a different answer to. First things first let me be a bit more clear than my headline. I’m not talking about a $10,000 offer on a domain you paid $25,000 for, I’m talking about a $10,000 offer on a domain name that you paid say maybe $500 for and would be happy to sell for $2,500 and $5,000 would be a slam dunk...

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[GetBigDomains]

Maybe the rest can go to a good cause?

 

[briguy]

Read thee article then the comments..
This comment kind of summaruze my thinking..

""Tom S
March 27, 2018
I think it would depend on how many names you’ve sold recently. If you need the money or not"

I am easier to deal with (business wise lol) when I am desperate for cash flow.

 

[namerav]

I"ll simply take the offer and finish the deal.

 

[Mahouni]

You counter offer 20,000 USD get no reply, push to auction, no bids and the original buyer is no where to be found to pay. Has happened to me...

 

[Federer]

An opening $10,000 would indicate higher-than-usual interest from what is probably a very wealthy firm.

An option would be to counter with 3.5-4x the opening offer (many buyers start buy offering 15-25% of their real budget for the domain).

By countering x3.5 ($35,000 / equivalent of countering $350 to a $100 offer), you are setting yourself up for a probable x 2.5 sale.

Now read that last sentence again.

There are high probabilities (at least 70%) that they counter at $15,000 (or higher). With a difference of $20K between the two counter-offers, you can use your negotiation skills for a “let’s meet in middle at $25K”.

 

[lock]

I have seen a few with the balls to ask for more and succeed. Mind you I have tried and failed burning sale. Sometimes best to shut up and close the deal.

 

[DomainRecap]

First, evaluate the domain and determine if you even think it's worth the $10K offer.

Speaking from experience, there are a LOT of buyers out there who make an offer in haste, then later regret it and have their fingers crossed that you'll counter so they can escape.

It happened to me recently, got a nice offer and immediately accepted it, and not 20 minutes later I get a sob story about how he bid in error and if I can cancel the transaction. I told him that would be "between him and GoDaddy" and not long after that the payment process and transfer request was started.

 

[Casey L]

“I accept!” - me

 

[hwgriffi]

You always counter, there is nothing else to be said or considered.

If someone is offering $10,000 they have high interest and are either very skilled in negotiations or are completely naive to the process.

Either way, you will want to counter.

If they are a skilled negotiator they will respect your knowledge of the process and will counter with the amount they actually budged for the domain.

If they are a negotiation newbie, then they will counter with a higher price because even a newbie won't offer their full budget on the first offer. Everyone likes to try and save money, it's human nature.

Always counter a first offer, it is one of the core principles of negotiations.

 

[disaac81]

Rarely do domainers sell anywhere near 10% of their portfolio a year. So if you $500 you a domain you would normally want more than $5,000, although I suppose it depends on your current year, if you are doinmg well you may it it go for such an amount.

Or am I wrong?

 

[DomainRecap]

Always counter a first offer, it is one of the core principles of negotiations.

But only if you have done a complete evaluation of the domain name first.

For example, if someone offers you $10K for Mauve.com, then definitely up the offer considerably, but if that same $10K offer comes in for thisisthebestwebsiteeverinthehistoryoftheknownworld.com then I would hit the accept button so fast I would need to buy a new mouse.

Like others have said, there is a long, long, long line of people who have gotten frisky countering offers to low-end or mediocre domain names, and been left holding the bag. Lots of offers are impulse buys that may cool as more time passes, especially if the domain is not a premium one.

Every domain sale is different.

 

[DOMAIN ILLUMINATI]

I can not say how I would react in general - my answer would simply depend on the current circumstances of the time in which I get the offer.

 

[WingMan]

Since your valuation is $5000, a counter offer of $7500 seems reasonable. Win-win for both of you

 

[blockchain]

countered to $100K

 

[hwgriffi]

hen I would hit the accept button so fast I would need to buy a new mouse.

If you accept the 1st offer, and do so quickly, the buyer may back out.

I'm just relaying to you what the top negotiation experts of the world recommend.

If I got a $10k first offer for a junk $20 name I would start a dialogue, then after the 2nd or 3rd eMail I would ask $35k. If they said their budget was $10k max and it was their best offer then I would accept with some other insignificant condition in consideration.

The two most important rule of negotiations are to never accept the first offer and never give anything away for free.

The game is different if you are talking about an aftermarket situation. In many aftermarket situations you can't communicate with buyers and it is just a matter of quoting prices back and forth. This is why I try to avoid aftermarket listings, I want to talk and negotiate with buyers.

To each his or her own, but I'm going to stick to what the experts recommend.

 

[DomainRecap]

Yes, I am assuming this is an aftermarket scenario on a non-premium domain, where the offer is binding and there is no real opportunity for deep and lengthy conversation. I assume this simply because of the price and the "a domain you’d be happy to get $5,000 (or less) for" statement concerning its quality.

And I only stated that every domain sale is different and may require different strategies. And these experts are not dealing in hardcore $5-$10K domain negotiations, but with premium domains where the price can vary wildly, negotiation is required to make sure you don't leave money on the table.

If I get a crazy offer on Sedo on a junk domain, you want to bet I am accepting it, but if I get an email offer on a premium domain, it's negotiation time for sure. There is no one hard and fast rule for anything in life and you need to adapt on the fly.

 

[Name Trader]

I always offer higher. I don't think you should ever accept the first bid. It would be very unusual for this to be a "take it or leave it offer".