DAN.com

Lesson Learnt: What not to do during negotiation

Labeled as discuss in General Domain Discussion, started by abstractdomainer, Jul 26, 2020

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  1. jim h

    jim h Upgraded Member Gold Account

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    If you are a seller, don't insist on an unreasonably high price. If you are a buyer, you should consider the real value of the domain name, instead of wasting time with a significantly lower quotation.
     
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  2. April004

    April004 Established Member

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    If a buyer is interested to pay anywhere above $100 that means he is seriously looking to acquire some domain or the other! I would reply them after 24 hours and would use escrow service (If I'm totally stranger to them).
     
  3. lock

    lock DomainUsed.com VIP

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    He feels you will go lower longer he waits since mail bombing. I suspect you will always improve on outbound and even if a bin in mind why not try approach for an interest or an offer.
     
  4. NewDayBrand

    NewDayBrand Restricted (Market)

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    Guys what do you think about doing outbound by calling at the phone? Without sending an email. And if my telephone number is outside usa and the prospect is in usa? Would he feel uncomfortable?
    Is calling at the phone may or may not add credibility? In your opinion?
     
  5. topdom

    topdom Top Contributor VIP

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    Calling is bad idea, unless you are a very serious buyer who can't reach the seller by email. If you are a seller, no-no, it may even be illegal.
     
  6. 7363824

    7363824 Restricted (85-100%) Gold Account

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    Robo calls absolutely illegal at least in the US, unless you have a pre-existing business relationship. Manual calls, I'm not sure any country makes that illegal but I'm no lawyer so take that for what its worth....

    Personally though If I don't recognize the number I don't answer. If they leave a VM trying to sell something I'll delete it without even listening to the whole thing. And if the calls become repeated I'll block the number all together.

    Similar thing with email though, you send me an unsolicited email trying to sell me something I'll gladly hit the report as spam, if it even made it though to my inbox that is. But that's just me, I guess some people are able to get though and make deals...
     
  7. DT13

    DT13 Top Contributor VIP

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    I do it often with amounts below 1k and never had any problems with it. Usually they are pleased to be able to do business in good faith.
     
  8. jim h

    jim h Upgraded Member Gold Account

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    Even if the other side's request is too much, don't be impatient. Smile and be nice.
     
  9. frank-germany

    frank-germany domainer since 2001 / musician VIP

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    yeah, I love to hear that, too
     
  10. frank-germany

    frank-germany domainer since 2001 / musician VIP

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    sure thats default
    it works
     
  11. The Durfer

    The Durfer Top Contributor VIP Blue Account

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  12. The Durfer

    The Durfer Top Contributor VIP Blue Account

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    also dont do the opposite now and grovel at his feet for $50. good luck. :)
     
  13. stevo

    stevo Established Member ★★★★★★★★★★

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    I must agree with Bob. Always try to be truthful, it will serve you well in the long run. Like I always told my kids,
    It is hard to remember what the lie that you told was, but there is only one version of the truth. And it never changes. If you are caught in a lie, your reputation could suffer. Not a small thing ( Your reputation).
    I have notified potential buyers that I was intending to solicit this name for some time and I appreciate the reminder, and if they are no longer interested...... This statement by me is absolutely true with 99% of my domains.
    I recently had a lowball offer and stated the price that I expected. They came up a little and I then informed them that the price that I quoted them was bare minimum and that I believed the name was worth "bare minimum+". If they had no interest at that price, I would invest some time finding out how much more it could be sold for. I was content at the price that I quoted and they were willing to pay it. I have come to the conclusion that going into every offer made for one of your domains, you should have a number That you are willing to accept. Anything more negotiated is a bonus. I Have lost sales due to asking for my price, but every name and situation is different.
     
  14. WatchDogue

    WatchDogue Top Contributor VIP

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    When I did negotiations via email I always remembered to keep a "respectful distance" between my to / from emails with a likely buyer.

    That is, I practiced the fine art of patience, never appearing too eager to sell a name or willing negotiate a steep price drop.

    Was always respectful in my emails ( not always easy ) and patient in responding, always considering all scenarios that could be at play in a negotiation.

    Whats' the old saying - something like " He who blinks first looses ".

    All those emails may have been a " blink ".

    Learn from what errors you know you made and don't do 'em again.

    I never did outbound, inbound only, which assuredly gave me the upper hand in negotiations.

    These days and for the past several years I am 90 - 95% " BIN only.

    Email negotiations, for domains or any product or service, is an art to be learned.
     
    Last edited: Jul 31, 2020
  15. lock

    lock DomainUsed.com VIP

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    You need the AT-5000 endorsed by Homer.
    [​IMG]
     
  16. rajdomains

    rajdomains Established Member

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    Trust could be one of the main reasons for an unsuccessful transaction.
    You lowered your price from 250 to 175 without a counteroffer, so that could also be a reason.

    Secondly always offer buyer to make payment via any escrow service, Epik escrow, dan, or other and Include the escrow fees in your price.

    All the best
     
  17. Michael Norris

    Michael Norris Design & Development Gold Account

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    I would hold steady with the buy now price. allow them a week or two to respond with the price given and if they don't oh well... sometimes people aren't interested anymore for whatever reasons.... maybe they found another domain or they need management's approval for spending.
     
  18. abstractdomainer

    abstractdomainer Upgraded Member Gold Account

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    SO you consider any outbound attempts as spams?
    If a broker takes a 6 figure domain and reaches out to 20 leads who may find value in the domain, are they spamming too?

    Anybody making a sale attempt by getting in touch with a potential lead is a spam?
    Ya. I get it. The $100 is subjective and depends form buyer to buyer and domain names.

    Bad idea. I tried like 20 times and didn't work.
    however, I have heard stories of people closing multiple sales over phone.
     
  19. abstractdomainer

    abstractdomainer Upgraded Member Gold Account

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    What about the deal that did not go through? You may not remember that. This may be a selective bias.
     
  20. NameDeck

    NameDeck Top Contributor VIP

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    Define your definition of a lead. I bet it's way different from what a (good) broker would consider to be a lead.
     
  21. karmaco

    karmaco Top Contributor VIP

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    Actually there have been several cases reported here publicly
    just in the time I have been here. One that comes to mind was a story told by Domain Monk. He pushed and did not get paid.

    Just because you are comfortable doing that doesn’t mean everyone should be. And if I don’t pay at a restaurant or barber shop -they can call the cops on me. Apples and oranges. Physical world versus cyber world.

    You push that name first you have zero recourse should you not get paid. Advising people to do so is almost reckless. I bet you didn’t push first on that big sale you had a few months back. 🙄

    Sheesh there are people here who demand a newbie push first before payment in the sales section. Each person should do as they see fit.
     
  22. Joe Nichols

    Joe Nichols Common sense consultant VIP

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    The difference is that you're the one soliciting the sale. If you're going to approach strangers to buy something from you online, then you need to be prepared to show good faith and take the (very minor) risk.

    My larger sale is a moot point. It was inbound, and handled by DAN.

    Let's be honest... Most of us are doing outbound with $10 or $20 names. If there's some fluke occasion when we don't get paid, we lose very little. The buyer, on the other hand, could lose hundreds or more for trusting a stranger who approached them with a demand to pay first.

    Of course everyone needs to make their own choice, but this is a no-brainer to me. It's the professional thing to do.

    I'd be curious to read Domain Monk's story. I've never heard anyone say that this happened to them when doing outbound to businesses.
     
    Last edited: Aug 1, 2020
  23. NameSmart.co

    NameSmart.co Established Member

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  24. biggie

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

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    Hi

    yes, it's all spam

    domainers have coined the term outbounding to use as a synonym for such activity, in an effort to make spamming sound legal and legit
    but it's still sending a solicitation by email to unsuspecting victims.

    and because you think you have a "lead" which may not really be a lead, you feel justified in sending those solicitations.
    and... because others domainers say they do it too, then that gives you more reason to do it as well.

    yet, all it takes is for one recipient, to report you.

    on the broker question:
    anybody who has a domain that is really worth 6 figures, doesn't need a broker to solicit offers.
    additionally, such a domain would naturally appeal to a wider audience, than the reg fee domain you're trying to get $200 for.

    you ain't in same boat or even in same waters, as those you try to equate yourself with....and that too, may be part of problem.


    imo...
     
  25. Joe Nichols

    Joe Nichols Common sense consultant VIP

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    It's naive to think that a six figure domain name couldn't benefit from being directly marketed to potential buyers. That's the exact reason brokers have jobs! They have many contacts. They reach out to them when they are representing suitable names for their contacts' campaigns/businesses/projects.

    The label we give it doesn't matter. Call it spam if you want. Call it outbound marketing. They're just words and there are elements of both of them in this activity.

    What matters is that if you're going to do it, do it well. Do your research. Be professional. Make sure you're offering something of value.

    If you're selling names, you're doing something right. There's room for hustle in every industry, domaining included.
     

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