advice Interested buyer is taking long while I have another interested party...

[PreciousNickia]

I'm in the process of selling a domain to an interested buyer who is also taking too long to close the deal. It's been active since Friday and he's dragging his feet. Apparently, he has a large company and he's confused as to who manages his domains. He's put me in contact with the head of his marketing agency, who then referred me to another employee who's absolutely clueless. Then, he cc'ed his IT company who's also lost.... We finally figured out a way to make it work but now he wants to confirm with his domain that the domain is actually in his account. Bear in mind, him and his team move incredibly slow...

Anyways, I have another interested buyer who's ready to move forward with the purchase asap and now I'm wondering what I should do... Should I...

A) Drop this guy and move forward with the other party
B) Place urgency on him to make him move faster
C) Have patience with him and tell the other interested party that the domain is no longer available


What do you guys think?

 

[BBQ Names]

Had an outbound sale I thought was a “done deal”. Local guy to me, so I actually went to his office. Which was going to be great! Local? Lower risk! Look the guy in the eyes! Took a couple months negotiating, he liked the idea, even the price, but wanted to make sure it fit his plans. I thought it was a good price, and he seeeemed to agree, but wanted to talk it over with his people. I even was on the verge of (we discussed) half down/ half payment plan. Appointment to finalize, postponed. Maybe next week, etc. finally I had to move on.

Here is one of my final actual emails:

Well, (prospect first name) , a month ago I thought we were close to wrapping this up. Two months ago I stopped prospecting. Based on our latest interaction, I'm going to restart my search for a buyer. I need to get moving again on this.

I'm ok with $4000 from you right now, but it would have to be virtually right now, as I'm going to be shaking the bushes for north of 5000 as I make my calls the next week or so.

For the size of the market involved, and asking prices well above that out there for similarly valued names, I should be able to get that.

I understand your indecision since it is not an inconsequential amount, but I really do think the value is there for you.

We'll be in touch. Maybe it won't sell right away after all, but I have to get back to it.

Thanks for the consideration.


Mike.

————-
Two days later, I made a couple strategic outbound calls to owners of longer domains that used the 2 (or 3) keywords in the domain. One agreed to buy, then paid for (Paypal) and transferred the domain inside of 2 hours. 4500. Done deal

Perhaps it helped me to get the final sale by being able to say, honestly, that another deal had just fallen through. So, better to hold/wait or move on? Or both?

 

[Michael Ehrhardt]

I'm in the process of selling a domain to an interested buyer who is also taking too long to close the deal. It's been active since Friday and he's dragging his feet. Apparently, he has a large company and he's confused as to who manages his domains. He's put me in contact with the head of his marketing agency, who then referred me to another employee who's absolutely clueless. Then, he cc'ed his IT company who's also lost.... We finally figured out a way to make it work but now he wants to confirm with his domain that the domain is actually in his account. Bear in mind, him and his team move incredibly slow...

Anyways, I have another interested buyer who's ready to move forward with the purchase asap and now I'm wondering what I should do... Should I...

A) Drop this guy and move forward with the other party
B) Place urgency on him to make him move faster
C) Have patience with him and tell the other interested party that the domain is no longer available


What do you guys think?

7days...

 

[dande]

Hands down - 'C'!!

A deal is a deal, and unless you want a rep as a shady money grubbing seller, you honor the deal!

'Successful Trustworthy Businessman 101' page 1.

LOL... This is the funniest comment I've ever seen from a Pro Domainer. What commitment do you have with someone whom haven't make a payment? You want to commit to waiting for a deal that is showing red lights all over it?

A deal is not a deal until it happens

 

[hawkeye]

LOL... This is the funniest comment I've ever seen from a Pro Domainer. What commitment do you have with someone whom haven't make a payment? You want to commit to waiting for a deal that is showing red lights all over it?

A deal is not a deal until it happens

Being in sales for over 35 years, and dealing with many types, ‘your’ view of a deal, is easy understandable.

 

[sharastar]

Oh, Buyer 2 bought it and already has it redirecting to her site. She is a very friendly woman and I offered to help her out when she decides to transfer out to a different registrar.

Last night, someone from Buyer 1's team reached out to me to finally close the deal, but by that time, Buyer 2 had already purchased. I informed them and he actually scolded them for being too slow and told them to move quicker next time. From the start, I always had to chase them to make a move, always following up, reminding them to look into things... Buyer 2 was straight up and ready to close the deal instantly.

Well, the domain was only $400 but if he had an issue with payment, I'd work with him. His team's lackadaisical attitude and eventual disrespect is what made me move on.

Congrats on your Sales

 

[lock]

No money equals no deal unless money is in the hand it is all hope. This is why you must set a time limit on every offer you give.

 

[ultradog]

Good sale, congratulations. The lower-ticket sales are so often the harder ones to complete.

I really hope you find another domain you could sell to the first company. They're kicking themselves right now for missing this one...