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question How To Negotiate With Potential Buyers?

NameSilo

TopBrandsForSale

Upgraded Member
Impact
98
Hi everyone, so I didn't find any post about this, but I need some advice.

I recently got my first offer on Sedo for a certain domain that was mispriced higher than its right value.

I wasn't yet aware of certain metrics and I overvalued it.

But still, if I got an offer it's somewhat worthy.

It was priced at 2.750$.
The buyer offered 400$ like a month ago.

Since then things went like this:

1) I counter offered 2450$. He counter-offered again 450$.
2) I lowered it to 2.250$. He raised his offer to 500$.
3) I lowered it again to 1.975$. He added 50$ for 550$.
4) I sent him an offer of 1.500$ with my Best Easter Wishes. He didn't reply.
5) After a week I renewed my offer of 1.500$ and today he replied with a counteroffer of 575$.

Any chance can I sell it for something between 1.000 and 1.500$?

How would you proceed in the negotiation?

Thanks everyone that will help :)
 

jhm

Top Contributor
Impact
8,770
Another "depends on the domain" moment. An important point is to find out as much as you can, about the buyer in question. Their size and capabilities will influence what you think they can afford. Considering the buyers movement on price in this case ($400 and eventually stretched to $575, after some back and forth), that's a fairly stiff position. You may struggle to get him / her to go as far as you're holding out for. IMO
 
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Future Sensors

78% of human domainers will be replaced by robots
Impact
11,163
Hi everyone, so I didn't find any post about this, but I need some advice.

I recently got my first offer on Sedo for a certain domain that was mispriced higher than its right value.

I wasn't yet aware of certain metrics and I overvalued it.

But still, if I got an offer it's somewhat worthy.

It was priced at 2.750$.
The buyer offered 400$ like a month ago.

Since then things went like this:

1) I counter offered 2450$. He counter-offered again 450$.
2) I lowered it to 2.250$. He raised his offer to 500$.
3) I lowered it again to 1.975$. He added 50$ for 550$.
4) I sent him an offer of 1.500$ with my Best Easter Wishes. He didn't reply.
5) After a week I renewed my offer of 1.500$ and today he replied with a counteroffer of 575$.

Any chance can I sell it for something between 1.000 and 1.500$?

How would you proceed in the negotiation?

Thanks everyone that will help :)
Never split the difference.

https://www.namepros.com/blog/never...erview-with-fbi-negotiator-chris-voss.989253/
 

TopBrandsForSale

Upgraded Member
Impact
98
Another "depends on the domain" moment. An important point is to find out as much as you can, about the buyer in question. Their size and capabilities will influence what you think they can afford. Considering the buyers movement on price in this case ($400 and eventually stretched to $575, after some back and forth), that's a fairly stiff position. You may struggle to get him / her to go as far as you're holding out for. IMO

Yes it might be like that. Thanks!
 

TopBrandsForSale

Upgraded Member
Impact
98
Depends on the name. This negotiation has already gone on too long and you’ve lost most of your power on the seller side already.

This is probably a wholesale buyer. PM me the name and I will advise. If this is your first sale, you might want to just chalk up the win and take the offer.
Thank you, I pmd you :)
 

AEProgram

Top Contributor
Impact
5,417
If you list a name for 2500 and someone offers under 500 decline and do not counter. They will know you got the offer and the decline plus silence will be the most powerful negotiation tool going forward.

They will either offer more, reach out or go away. If they go away that is fine, they wouldn't have paid close to your asking. If they offer about 40% your ask you can reply with a high counter and message about the reason your domain is already priced real low at the current asking. If they just reach out with no new offer reply and justify your price and say "if you want a small discount I could consider it but the name is already prices very low". Only say things that are true and if you are desperate you will not win a lot in any negotiation.

If you do need the money and someone makes you an offer, remember that every counter, every minute that goes by, damages your chance of selling the name even at the price they offered. If you need the money they offered and cannot afford risk accept it. You will be surprised how many people get offers and even with a small counter never hear back.

Domains are often an impulse buy. Within a minute of making the offer they might talk to a friend that will talk them out of it. If you need the money don't wait, you will probably lose. If you don't need the money, show strength and be ready to lose and never hear from them. However, long term this will work if you have good names obviously.
 
Impact
515
If you list a name for 2500 and someone offers under 500 decline and do not counter. They will know you got the offer and the decline plus silence will be the most powerful negotiation tool going forward.

They will either offer more, reach out or go away. If they go away that is fine, they wouldn't have paid close to your asking. If they offer about 40% your ask you can reply with a high counter and message about the reason your domain is already priced real low at the current asking. If they just reach out with no new offer reply and justify your price and say "if you want a small discount I could consider it but the name is already prices very low". Only say things that are true and if you are desperate you will not win a lot in any negotiation.

If you do need the money and someone makes you an offer, remember that every counter, every minute that goes by, damages your chance of selling the name even at the price they offered. If you need the money they offered and cannot afford risk accept it. You will be surprised how many people get offers and even with a small counter never hear back.

Domains are often an impulse buy. Within a minute of making the offer they might talk to a friend that will talk them out of it. If you need the money don't wait, you will probably lose. If you don't need the money, show strength and be ready to lose and never hear from them. However, long term this will work if you have good names obviously.

This is good advice. I was offered $1k on a domain and politely declined. But i also asked what their intended use was to keep the door open. Eventually sold the domain for $8k, probably could have got $10k.
 
Impact
13,784
I recently got my first offer on Sedo for a certain domain that was mispriced higher than its right value.

I wasn't yet aware of certain metrics and I overvalued it.
Hi

lol

how do you misprice a domain higher, and how do you know it's right value against that price?

also, what metrics made you aware of this "overvaluation"?

curious as hell how that spin came out

imo...
 

TopBrandsForSale

Upgraded Member
Impact
98
If you list a name for 2500 and someone offers under 500 decline and do not counter. They will know you got the offer and the decline plus silence will be the most powerful negotiation tool going forward.

They will either offer more, reach out or go away. If they go away that is fine, they wouldn't have paid close to your asking. If they offer about 40% your ask you can reply with a high counter and message about the reason your domain is already priced real low at the current asking. If they just reach out with no new offer reply and justify your price and say "if you want a small discount I could consider it but the name is already prices very low". Only say things that are true and if you are desperate you will not win a lot in any negotiation.

If you do need the money and someone makes you an offer, remember that every counter, every minute that goes by, damages your chance of selling the name even at the price they offered. If you need the money they offered and cannot afford risk accept it. You will be surprised how many people get offers and even with a small counter never hear back.

Domains are often an impulse buy. Within a minute of making the offer they might talk to a friend that will talk them out of it. If you need the money don't wait, you will probably lose. If you don't need the money, show strength and be ready to lose and never hear from them. However, long term this will work if you have good names obviously.
Thanks! Good advice. I would do exactly like this if we were talking about a premium domain.

This one is just average, so I'm not sure what is better to do.

I mean I can find hundreds of better domains, so it might be wise to just get his offer and make my first sale.

Still thinking about it btw :D
 
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TopBrandsForSale

Upgraded Member
Impact
98
Hi

lol

how do you misprice a domain higher, and how do you know it's right value against that price?

also, what metrics made you aware of this "overvaluation"?

curious as hell how that spin came out

imo...

Well, the truth is quite simple.

I just started doing this seriously, so after a month of study and research, I think I just initially priced it too high for what it can really be worth for someone.
 
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13,784
so after a month of study and research
Hi

so what were you studying and where did you do your research, to conclude in a month, that price was too high?
also, during this period, what info made you decide to set a fixed price, rather than just using "make offer"?

imo...
 

TopBrandsForSale

Upgraded Member
Impact
98
Hi

so what were you studying and where did you do your research, to conclude in a month, that price was too high?
also, during this period, what info made you decide to set a fixed price, rather than just using "make offer"?

imo...
A lot of people suggested here to set a BIN price. I had BIN + MO on Sedo, Afternic and DAN.

Now I switched to only BIN at Sedo but I'm not sure it's the best option for me tbh.

What do you think?

About the prices I read a lot here on NamePros, I conducted some research about similar names, I checked the suggestions in all the major appraisals, I asked here in the appraisal forum, I did keyword research on Google and also I did research on NameBio for related keywords past sale.

So I guess I have enough information to think that I previously priced this one too high.

Also now I have far better domains in my portfolio, therefore I'm not particularly attached to this one.
 
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