advice How would you respond?

[ScalableDomains]

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.

 

[maxtorz]

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.

You are the confused gazelle and the Lion ate you!

1.First off you are dealing with a "lion" VP that is trained and experienced to negotiate like a PRO. That's what he does so it's all good!
2.You should always FOLLOW UP, but Never follow up discounting price!(When you DISCOUNT price the VALUE of your domain drops and HIS INTEREST will drop because if YOU don't believe in your pricing and are not confident nobody else will);
3. You accepted the lowest offer too quickly (which again sends the wrong message to the buyer, he was just messing with you man to see what he can get away with)
4."Let me think about it" is the final blow, there's not much you can say or negotiate against, he has full control at this point bc. the value of the domain dropped and you lost control of this negotiation.

After his reply "Please discontinue your emails unless you accept $XXX (Which was the minimal offer). No Negotiation." I would have replied like this:
"Sir, I agree with you and I take full responsibility on pricing. What else would be keeping you from moving forward with this deal?"
I would then wait for a reply....if no reply after 24hrs I would email again an say this:
"Sir, could you please allow me 5 minutes of your time to discuss this today? I promise not to waste your time." (at this point if you have his number in his signature etc. I would let my email tracker let me know when he opened my followup email and I would CALL HIM, I would NOT wait for him to say YES call me or NO don't call me.)
This approach simply shows that you are not just spamming his inbox and you are serious about what you do and you are ready to backup your pricing and provide reasons WHY the name is worth the price you are asking.
Now you are no longer a confused gazelle, you are in control and you actually have a good shot at closing the sale. You are not gonna get ATE UP' when you are in control of a negotiation against a lion. hahaha
I did these same mistakes and I used to discount price to negotiate which is wrong. I missed so many sales over the years because I was hoping it would all work out and didn't know what I was doing, and had no confidence really....

 

[maxtorz]

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.

Dropping your price from $9500 to $5000or $5500 is absolutely ridiculous.
IF THEY went from $500 to $5000 with the contingency of doing it TODAY that's a RED FLAG for me.
That's a PRO negotiator right there. THEY are probing to see if you are willing to DROP your price in half and then of course they will stall or ask for more changes latter on. The worst part is You can build VALUE going up easily, but once you go down and then try to build the value back up is hard.

I would have told the Afternic broker: Hey I understand that they want a better price BUT I am valuing this name above $15,000USD+ for these reasons A,B,C and $9500BIN is already a great price. They would have to do better then $5000.
At this point they should counter with a better offer if they are serious about buying your name.
If they drop out, no problem! I would then BUMP my BIN price to $15,000USD for that domain.