NameSilo

How would you respond?

Labeled as advice in General Domain Discussion, started by ScalableDomains, Oct 30, 2017

Replies:
26
Views:
1,691

  1. ScalableDomains

    ScalableDomains ScalableDomains.com ★★★★★★★★★★

    Posts:
    383
    Likes Received:
    383
    How would you respond if:

    Here is the background -

    Sent an outbound email which created an inquiry for a domain name.

    I sent the price for the domain name along with the make offer option (efty link).

    The person was not interested. I had another outbound inquiry in which I repriced the domain name with no response. I also sent a follow-up email to the first inquiry to inform them of the re-priced domain name.

    The response to the first inquiry was from an Exec VP.

    "Please discontinue your emails unless you accept $XXX (Which was the minimal offer). No Negotiation."

    I accepted the offer. (it gets better). I offered two options to purchase.

    Today I received the email

    "Let me think about it"

    How would you respond? I will let you what I did after a few discussions.
     
    The views expressed on this page by users and staff are their own, not those of NamePros.
  2. Kpett

    Kpett Established Member

    Posts:
    715
    Likes Received:
    887
    "No negotiation" - sounds like a hard a$$. Now that you've accepted, the Exec VP will probably come back with a lower offer or pull out of the deal. I've seen this too many times. Good luck!
     
  3. xynames

    xynames XYNames.com PRO VIP

    Posts:
    4,138
    Likes Received:
    8,868
    They are playing games, doesn't sound like much will happen. When someone makes an offer, and you accept, and still nothing happens, it means they are not serious.

    I had a situation where via Afternic a company brought their offer up to 5000 on a domain that actually I wanted about 9500 for. The broker told me that he had brought them up from an initial 500 offer, so it seemed like they were in earnest. The company said that they were ready to pay that same day if I accepted the $5000. I told them that I would accept 5500 if they handled it immediately, or else I was going to raise the price back to where it should be, 9500. I wanted the extra 500 to offset at least some of the 20% Afternic commission. The company kept stalling, and then after a week said that the deal was "on hold" and disappeared. I then reverted the BIN on the domain to the correct 9500.

    Who makes a $5K offer and then disappears over an additional $500.? lol People who don't know what they want. Sounds like your Exec VP is more of the same.
     
    Last edited: Oct 30, 2017
  4. ScalableDomains

    ScalableDomains ScalableDomains.com ★★★★★★★★★★

    Posts:
    383
    Likes Received:
    383
    Thanks
     
  5. biggie

    biggie Top Contributor VIP ★★★★★★★★★★

    Posts:
    10,228
    Likes Received:
    10,672
    if i was the first guy and didn't respond the first time
    and you send me a second email,
    then i'd prolly lead you on, just because you sent me another solicitation.

    maybe you should "wait" and give the person time to think.

    imo....
     
  6. johname

    johname Planet Futbol VIP ★★★★★★★★★★

    Posts:
    34,761
    Likes Received:
    54,534
    He obviously didn't expect you to accept the offer. Then once you did, he thinking "Am I buying something overpriced and really not needed?". He will now talk to the IT guy, think about it and give you a real answer.
     
  7. Smiles76

    Smiles76 Established Member

    Posts:
    216
    Likes Received:
    364
    Who turns down $5000 over an extra $500?
     
  8. xynames

    xynames XYNames.com PRO VIP

    Posts:
    4,138
    Likes Received:
    8,868
    The real question is...was the $5K offer going to close in the first place. The way they disappeared after claiming that they would close on $5K that very day, not responding for a week, and then the statement after a week of silence about being on "hold...." In any case, I really didn't want to accept any of these offers, the value of the domain is in the $9K range, so it was their loss, not mine.
     
    Last edited: Oct 30, 2017
  9. jideofor

    jideofor Top Contributor VIP ★★★★★★★★★★

    Posts:
    3,084
    Likes Received:
    3,769
    You should have been more open on why you want the extra $500 and from experience, they often do consider and even opt to take care of it. Not everybody knows that some commissions taken out of the money they pay for domains.

    Next time,educate them and you just might get lucky. I have done this many times and buyers often agree to take care of the extra fees.
     
  10. BrandPlease

    BrandPlease BrandPlease.com VIP Gold Account

    Posts:
    885
    Likes Received:
    2,355
    If someone is really being a hard line and we are at a stalemate (and I’m not budging), I’ll set an escrow buy it now, change the landing page to say reserved for( name not amount ) xxx and put an until date. Send a note to the ( maybe buyer) with a link to buy now and site lander. and let them know I agree but can no longer negotiate. After that date jack the buy it now up and just leave it alone. You will know if they are serious and you can try to put it aside and not get agrivated.
     
  11. platey

    platey Top Contributor VIP

    Posts:
    2,228
    Likes Received:
    2,759
    I would at that point have stated that that price was made on the basis that the the price was accepted

    Obviously as you require time to think about whether that price is acceptable or not

    I am hereby giving you first refusal of this domain at that price but this price is valid for 48 hours only

    Should you decide against purchasing this domain name at this price within 48 hrs I will assume that you are no longer interested in purchasing this domain and bid you good day
     
  12. urlurl

    urlurl Top Contributor VIP ★★★★★★★★★★

    Posts:
    3,055
    Likes Received:
    5,836
    my guess is they found another option or had second thoughts on the whole thing.

    had a similar deal - we were negotiating back and forth for weeks. finally we both agreed on a price... than nothing! buyer didn't go through with the deal and heard nothing since.
     
    Last edited: Oct 31, 2017
  13. DefinitelyDomains

    DefinitelyDomains DefinitelyDomains.com VIP

    Posts:
    2,774
    Likes Received:
    2,641
    Give them time and don't be too pushy. After a couple of days send them a follow up stating final price and the link to purchase. If you hear nothing, you'll be better moving on and focusing your efforts somewhere else.

    It's seems like a dead deal anyway.
     
    Last edited: Oct 31, 2017
  14. DnFolk

    DnFolk Top Member Epik.com Staff VIP

    Posts:
    2,702
    Likes Received:
    13,343
    I had similar experience recently, the guy was reputed and highly successful in his profession and owner of one popular website (all of which i found it later), he made an offer on my one domain listed at efty for 1995, his offer was $1000 with message lets do this. I countered with 1100 considering the deal would obviously be done. but he said not interested for $1100. I found it strange.
     
  15. ScalableDomains

    ScalableDomains ScalableDomains.com ★★★★★★★★★★

    Posts:
    383
    Likes Received:
    383
    @dnfolf - thanks for the reply. Why would you squeeze the customer for $100? What I know from many customers that I sold dn's , they treat dns' as a product and want a specific price. Many are ignorant of domain names and prefer to just buy it not knowing negotiation is part of the process. Thanks.
     
  16. ScalableDomains

    ScalableDomains ScalableDomains.com ★★★★★★★★★★

    Posts:
    383
    Likes Received:
    383
    Thanks.
     
  17. ScalableDomains

    ScalableDomains ScalableDomains.com ★★★★★★★★★★

    Posts:
    383
    Likes Received:
    383
    Thanks for the reply.
     
  18. shorterwinters

    shorterwinters Established Member

    Posts:
    331
    Likes Received:
    755
    Waiting patiently.
     
  19. Jahe

    Jahe Established Member

    Posts:
    83
    Likes Received:
    132
    You are too desperate to make a sell; it shows pure weakness on your part.

    Most of us have made that error, in domain speculation. This is one reason why I say a lot of the 101 one size fits all information is misleading. Some say, always reject the first offer, without stressing the importance of your leverage position before doing so. In your situation, the buyer is toying with you. Ironically, when he agreed to your offer and you accepted, that is technically a legally binding agreement. You could sue but the amount seems too low to expend the effort. At this point, I would place a BIN on the domain and renew for 5 years and not think about it again...

    If the buyer is serious, they will return at a later date; learn from this negotiation...
     
  20. xynames

    xynames XYNames.com PRO VIP

    Posts:
    4,138
    Likes Received:
    8,868
    The scumbag backed out of his own offer but what are your damages here? You still have the domain. Until you sell the domain to someone else for, say less, we can’t even calculate your damages.

    As far as suing to enforce specifically (make the scumbag buy it) at the end of the day all you’d gain is the dollar amount of the “minimal” offer.

    Not to mention that the scumbag could try to muddy the water and claim that he was just trying to get you to stop spamming him and his mention of the minimal price was just incidental to his stop emailing us request and was not a real offer.

    At the end of the day you’d win but as Jahe correctly points out, not much to gain here.
     
  21. karmaco

    karmaco Top Contributor VIP

    Posts:
    2,481
    Likes Received:
    6,278
    The second he talked to me like a dictator would have been the last time I contacted him. You should have asked him what business is negotiation not part of in some manner— his?In any outbound it should be short and not seem desperate. People dislike marketers in any business so it’s good you brushed it off.

    The mistake was lowering the price. It gives off an air of weakness. Any reduced offer should be good for 24 to 48 hours only if you have to go that route. I would approach no one unless I was pretty sure I know what amount I am willing to sell it for. Also don’t oversell— being accused of being a spammer is not a good look which sometimes happens when you overmarket.
     
  22. GCCinternet

    GCCinternet Established Member

    Posts:
    486
    Likes Received:
    55
    Additionally, I’d increase the price at least 100%-500% depending on your current price.

    It’s a reality of domaining. A lot depends on this particular domain name, ie. whether this client really needs it or not... If he does, don’t be desperate to sell... Being desperate to sell makes a harm to a seller in every business. Your leads may ignore you or play with you.
    Success in sales starts from customers’ demand. Without demand you can give away for free or 90% discount. This isn’t a business. If you’re now angry at domaining, well this is a long term run. But even in long term you as a seller must have an asset which is in lesser or bigger demand because without demand there is no future for your product.

    IMO, outbound domain sales aren’t good strategy. It devalues a domain (not always, depends on a style of your outbound communication).

    All the best,
    Adam
     
  23. Jahe

    Jahe Established Member

    Posts:
    83
    Likes Received:
    132
    I have been domain speculating a little over two years now and the 5 sales I have made so far were all inbound sales, except one. I've done outbound marketing, but it has netted me only one sale so far of portfolio of (100 dot-Coms). That's why I don't like PPC, for some reason the default page that GoDaddy uses works best form me because it allows them to contact a broker to inquire about your domain.

    Likewise, I don't see the point in having a PPC page unless you have a premium domain like Sex.com or Money.com and hold a trademark too.
     
  24. lock

    lock DomainUsed.com VIP

    Posts:
    4,621
    Likes Received:
    4,417
    You heard him move on if he feels he is missing out he will be back.
    If you exhausted your 2 leads on the domain then how many customers can the domain bring if you only can come up with 2 leads? Work on another domain and clear your head.
     
  25. Brian Harbin

    Brian Harbin Director of Sales, NamePros NamePros Staff PRO VIP ICA Member Gold Account

    Posts:
    40
    Likes Received:
    109
    Thanks for posing the question as it's helpful for people to think through how to handle these type situations. When he replied 'let me think about it', I would respond back with 'sounds good, thanks'. I would then set a reminder to follow up in 3 days. I would then say, 'hey, just touching base to follow up and see if you had a chance to think through the two payment options and decide which works best for you. let me know when you get a chance.' I would then set a reminder for 3 days and have another follow up question 'just following up to see if you received my previous email. Are you still interested in pursuing this domain? thanks'. with no response still, i would set another 3 day reminder and then pose another question to elicit a response. Still nothing, then I would set a reminder for 6 months and touch base again.

    In this business, when you rely heavily on email, it's important to have good follow up and consistency in order to prove trustworthiness. If you can get them on the phone (recommended), then you can usually help them overcome their fears/skepticism sooner. Keep in mind that we all know buying a good domain for a good price is a good business decision and there are safe and legitimate ways to handle the transaction. But to a lot of business owners, the idea is a new concept to them, they are initially skeptical, and they are busy and bombarded by salespeople all the time. But keep dripping on them, be polite, educate them, and they might eventually come around. If not, then move on to the next domain/prospect. Good luck and let us know how it goes!
     

Want to reply or ask your own question?

It only takes a minute to sign up – and it's free!
NameWorth
  1. NamePros uses cookies and similar technologies. By using this site, you are agreeing to our privacy policy, terms, and use of cookies.
    Dismiss Notice
Loading...