Dominion.Domains

How Long Does It Take To Close a Sales Deal

Labeled as question in Domain Name Sales started by elevator, Feb 23, 2018.

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  1. elevator

    elevator DnCombo.com VIP

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    Dear experienced domainers friends, may I know how long it takes to close a sales deal.
    I received a mail since January 15th 2018 from one of the marketplace that a customer was interested in one of my domain name, and they also wish to know my selling price for the name, but I replied that they should let me know how much would the customer like to pay, but in their response to my mail; they were ready to pay me a sum of $1000 but I replied them that I could not sell the domain for that amount, but I only demanded to double the amount.

    Following that we agreed at a particular price and after that I have messaged them twice and they said there was no response from the potential buyer but that they are still expecting from the potential buyer.

    My question now is that, may I know if it is all over or should I write them and reduce the price back to $1000 which was the opening bid price. The domain is a two word and eight years old.
    Or what should I do as to enable the deal closed?
     
    Last edited: Feb 23, 2018
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  2. alcy

    alcy Active Member VIP

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    you canot force buyer to make deal
    epecially if you ask for more money and counter

    so I would take it as a lesson hard learned for future

    also for future its best to get them to make offers on marketplace. I prefer gd auctions.. where its more binding and they get banned if do not complete. most people do not want to get banned.

    nobody cares about the 20% gd fee ... well at least I do not not.. when there is already a solid roi being made.. so what if its $800 instead of a 1000 roi.

    they also handle transfers for you and give yuo escrow protection for payment etc.. which is why I always opt for gd auctions and redirect all offers there.

    the only thing left for you to try now is contact them and tell them you can sell at their price.. or even offer small discount to give them more incentive. casue they had zero legal obligation to complete sale when they made first offer to you, and even less so after u countered it

    all the best
     
  3. elevator

    elevator DnCombo.com VIP

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    @alcy Thanks for your response.

    The said offer came in through the marketplace's marketing officer. He contacted me because I had removed the domain from the marketplace to namejet and when he contacted me, I quickly removed the domain from namejet and re submitted it at the said marketplace for them to be able to buy at BIN which we agreed upon. But since then, no more response from the potential buyer. I contacted them, but they said they are still waiting for the intending buyer to respond.
    Are you now saying I should contact them again and give them for a low price?
     
    Last edited: Feb 23, 2018
  4. Platinums

    Platinums Restricted

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    7 business days
     
  5. alcy

    alcy Active Member VIP

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    yes.. why not... I sometimes do this.

    it all depends on how badly you want to sell that domain. at his original offer. or even with slight discount. imagine yourself in buyer's shoes. everyone likes to receive a bit of a discount :)

    gl
     
  6. elevator

    elevator DnCombo.com VIP

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    OK! Thanks
     
  7. Kpett

    Kpett Established Member

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    I would also recommend not sounding desperate in your communications with the potential buyer - even if it is through a 3rd party. Remain professional, but also be patient. Sometimes deals take more than a week to complete due to many different reasons. Good luck!
     
  8. toughdomains

    toughdomains Upgraded Member Gold Account VIP

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    im my expereince if a buyer wants the name and its under 2k it should be quick around 7 days. if your asking for 15k it could take longer
     
  9. alcy

    alcy Active Member VIP

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    true.. but I think the original point op tried to make is that he is extremely interested (I'll refrain from using word "desperate") to close this... even returning to original offer from buyer.
     
  10. oswin_mb

    oswin_mb Upgraded Member Gold Account

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    Took me 11 months to close a sale from a initial offering of USD7k and a final sale price of USD25k.
     
  11. elevator

    elevator DnCombo.com VIP

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    11 good months! It takes a lion heart to do such. Though very gainful, it meant one should not mind lossing the offer.
    OK! Thanks and cheers
     
    Last edited: Feb 25, 2018
  12. BrandMart

    BrandMart DomainBugle.com VIP

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    Takes time. Remember, you are talking $xxxx or more here.. plus there can be other factors like Payment accounts not working, banks not authorizing wires etc. Don't lower your asking price. It doesn't hurt to keep it and pay another $8-10 for 1 more renewal and wait for a better offer and quick buyer :)
     
  13. elevator

    elevator DnCombo.com VIP

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  14. oswin_mb

    oswin_mb Upgraded Member Gold Account

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    Yes, I took a chance, the domain was a niche and max their would have been 4-5 buyers. And it was a ngtld. :)
     
  15. MR Harrist

    MR Harrist Established Member

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    last time I do outbound and he reply what your price ?, I said to him $600!
    and Boom, he said no thanks, we'll pass, thanks for reaching! lesson learned!:xf.grin:

    I think sometime some people have interest with our domain, but when we push the price to much! that's it! they go away! even if we reduce the price, the feel will not the same again! because I do reduce the price to $450, still, he said, no thanks!:xf.grin:

    your best bet is to stick with your price and wait him/her to move! if he want lower price give him, but don't to much, because if your first price $2k, and then you go to $500! I think he'll leave and suspicious, why the price go down to much!

    bytheway, my domain are dot net, so for com, 1-2k, are average! :D
     
    Last edited: Mar 2, 2018
  16. elevator

    elevator DnCombo.com VIP

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    Lesson learnt!!!
     
  17. MR Harrist

    MR Harrist Established Member

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    but I am sure he will comeback! though, he will strike with $100 :xf.laugh:
     

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