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How Do You Respond to "How Much" and Still Make That Sale?

Dynadot Dynadot
Impact
3,691
Once a while, I like to ask questions in order to learn and also give room for others to learn through questions I ask.

Imagine you emailed some end users and the question that comes afterward is "How Much"

As much as it makes you excited, it's a very delicate question such that it could make or mar your chances.

When such questions are asked by end user, what do you before you reply them?
 
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The views expressed on this page by users and staff are their own, not those of NamePros.
Impact
6,901
1) Every domain you or I own should have a figure your own "expectations" on it's value

2) always do your homework first to see why the name is having a offer via google a new product launch a business/startup using the term - check the buyers email via the tools online

3) This is why I love using DNS it gives me so much info on the buyer and I look at number 1,2 and price

I could go on and on with the steps I use - the sale is done with the reply email as to why you the buyer will pay me X amount to get that domain.
 

Asfas1000

Top Contributor
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2,687
I could go on and on with the steps I use - the sale is done with the reply email as to why you the buyer will pay me X amount to get that domain.

Please do.

I did a similar thing with my last inquiry, waiting to see how it will work.
 

Omar Negron

Top Contributor
Impact
1,569
I think this is a question a lot of us get caught up on (including me). As mentioned above, knowing a figure is very important.

I don't think there is a secret or a perfect reply. I believe replying with the amount your ready to sell it for is the answer. If they reply with a counter offer, well now that's where negotiations come into play.

-Omar
 
Impact
3,691
1) Every domain you or I own should have a figure your own "expectations" on it's value

2) always do your homework first to see why the name is having a offer via google a new product launch a business/startup using the term - check the buyers email via the tools online

3) This is why I love using DNS it gives me so much info on the buyer and I look at number 1,2 and price

I could go on and on with the steps I use - the sale is done with the reply email as to why you the buyer will pay me X amount to get that domain.
FX never sleeps... Thanks for the post.
 
Impact
3,691
Well, getting an inquiry is different from contacting end users and therefore, the approach to giving an answer to this question would vary at best.

I am referring to the latter, basically. That is if you contact an enduser and they ask how much, how would you respond to make you close that sale?

@Omar Negron, I agree that one should have a number in mind.

However, what if your number is it in line with what the buyer is comfortable with?
 
Impact
2,351
I don't email people I let them make the first move. My forms make them submit a price so I have their initial offer in the form. Then I search name, email, phone, ip address etc... and see if their offer is fair or how much room I think there is to play with. Generally I've never accepted a first offer and have countered initial offers as low as $50 into high xxxx and sold.

Now if I was emailing people that kinda downgrades it to a colder lead as they responded to you but they didn't initially seek you out. When someone seeks you out the question of if they want the domain is already confirmed just price negotiations need to take place so generally higher ROI. A response to your email could be a good end user sale or could just be I'm not really interested but let's see what the price is and maybe I'm interested.

You contacted them so think it's up to you to research them and shoot your price. Harder to play the passive game of "It might be for sale" "Make me an offer and I'll consider it" when you initiated contact. So research whatever info ya got on them, shoot your price preferably little higher than you actually want so ya got wiggle room to come down and cross your fingers, if they counter take it from there. And as @FX said you need to come up with Ballpark ranges on all of your domains or one by one right before ya market them so you already know where ya stand on price so you can just fire away with no delay.
 
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Omar Negron

Top Contributor
Impact
1,569
@Omar Negron, I agree that one should have a number in mind.

However, what if your number is it in line with what the buyer is comfortable with?

Did you mean isn't* in line with what the buyer is comfortable with?

If you did, then I believe it's just part of doing business. You will never know until you ask. What if it is around the price the buyer was looking to spend. =)
 
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3,691
Did you mean isn't* in line with what the buyer is comfortable with?

If you did, then I believe it's just part of doing business. You will never know until you ask. What if it is around the price the buyer was looking to spend. =)
yeah I meant "isn't". Sorry about the typo. I type too fast most times without proofreading.
 
Impact
3,691
What I have learned is that don't just QUOTE any figure. Be considerate and take a look at whom you are dealing with. scout their website and try as much as possible to envisage what they earn.

This will go a long way to help you determine what to price your domain name.

In essence, know whom you are dealing with and quantify their wallet.
 
Impact
193
1) Every domain you or I own should have a figure your own "expectations" on it's value

2) always do your homework first to see why the name is having a offer via google a new product launch a business/startup using the term - check the buyers email via the tools online

3) This is why I love using DNS it gives me so much info on the buyer and I look at number 1,2 and price

I could go on and on with the steps I use - the sale is done with the reply email as to why you the buyer will pay me X amount to get that domain.
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I hate to ask the obvious but what is DNS?
 
Impact
3,691
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I hate to ask the obvious but what is DNS?
It means DomainNameSales.com. It is a platform like sedo where you park your domain but unfortunately they are very selective to acceptance. No free-pass until your domain names have been examined. People get rejected a lot.
 
Impact
193
What I have learned is that don't just QUOTE any figure. Be considerate and take a look at whom you are dealing with. scout their website and try as much as possible to envisage what they earn.

This will go a long way to help you determine what to price your domain name.

In essence, know whom you are dealing with and quantify their wallet.
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To be that independent, you better have premium names. I respond to that question by inferring it is someone else, " It is currently on auction at GoDaddy for X".. Let them respond to that statement.
 
Impact
193
It means DomainNameSales.com. It is a platform like sedo where you park your domain but unfortunately they are very selective to acceptance. No free-pass until your domain names have been examined. People get rejected a lot.
---------Isn't that Frank Schilling? I thought that those days were gone and are more open to non premium names since now they have a large sales force that needs to make money.
 
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3,691
Yes it 's Franks and nothing has changed lol... at least not for me.
 
Impact
2,351
What I have learned is that don't just QUOTE any figure. Be considerate and take a look at whom you are dealing with. scout their website and try as much as possible to envisage what they earn.

This will go a long way to help you determine what to price your domain name.

In essence, know whom you are dealing with and quantify their wallet.

More emphasis should be placed on what the domain is worth than who the buyer is as you can't sell a Yugo for BMW pricing. There's a common line "A domain is worth whatever a buyer will pay for it" which I personally have always corrected to my own thinking of "A domain is worth what the "right" buyer will pay for it"

So basically you're evaluating your domains based on industry category, how much profit margin in that industry, cost per click for industry, how strong is the domain for the industry category or could I find a comparable replacement easily/cheaper etc... to form a price range.

A) Domain is worth $12,500 if all the stars align and the ultimate end user presented themselves
B) Domain is worth $7,500 if a start up with no external financial backing presented themselves

So basically you're just determining a ballpark range of end user worth and the analysis of the buyer just tells ya where on the scale you think they fit without blowing a deal. If my example above is you're range $7,500-$12,500 then you also need to pass when the "wrong" buyer presents himself as you don't let a minimum value $7500 domain slide for $1000 just because that's all that one buyer could afford unless you've owned the domain 10+ years and it's the only inquiry you've ever received on it then maybe a consideration although I'd try to lean to a payment plan arrangement before selling something way under value if I was confident in my appraisal as it's not as easy to replace a domain of the same quality at the same price today than it was over a decade ago so if you sell too cheap your portfolio quality continues to diminish over time.

Over time if you present your price range to multiple possible end user buyers based on research and all the deals never materialize then possible you need to adjust your pricing strategy on that domain.

Personally I receive at least 5-10 domain offers from other domainers every single day and the quality of the domains/quality of the sales pitch leaves a lot to be desired. I've never responded to one. One of the biggest guys at this forum known for being an expert in outbound email marketing sent one to a company I was consulting at the time and the domain in the subject line was different than the domain in the email so sloppy marketing at best. Personally I don't outbound market but think if I ever tried it I'd do one by one end user only and avoid the sloppy automated programs and eliminate domainers from my list as if you're gonna do something do it right.
 
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instincts

Established Member
Impact
4
Am a newbie... And am presently in this dilemma. Don't know what to reply to someone who contacted me for 1 of my domains.

Further insight would be highly appreciated guys.....
 

Serengeti

Established Member
Impact
289
Guys..what if the historical price for a keyword has been around 2k-10k..and one receives a price request from lets say afternicdls. Where one has no way to know the potential buyer and all the google search draws potentially a vast array of customers from corner businesses to Big fish...how do we deal with that scenario.