strategy Mock Negotiation - Let's negotiate here week #1

[abstractdomainer]

Hi All,

We know how tricky negotiations can be. It is a part and parcel of the domain name business. Even if we get the price for the domain name, that we were expecting, we feel like we left money on the table. And it happens time and again. So why not practise negotiation here:

Step 1: Members share the name which they would be willing to offer for sale
Step 2: I will be the buyer, the member whose domain is chosen becomes the seller
Step 3: We appoint 1 member who doesn't belong to either party. Let's call him referee
Step 4: Both buyer and seller share their minimum and maximum prices which they are willing to accept/offer respectively for the domain name
Step 5: We negotiate here on the thread with proper emails/texts. Everyone can view how you and I respond.
Step 6: Buyer and seller can re-adjust their offer - buyer can increase the maximum that they are willing to offer, and seller can decrease the minimum that they are willing to take
Step 7: Either a deal is made or not
Step 8: The appointed representive (referee) will share the buyer and seller minimum maximum
Step 9: We draw conclusions from the negotiation and the learnings

This is going to be extremely amazing and I am super excited.
Please share your names so that we can pick one and start the process. The negotiation should last 1 week or less. Let's do this. The shortlist will be done tomorrow if we have ample entries.

 

[Alop]

Isn't that what's negotiation is all about? That's what makes it real, my friend. I had a budget, the seller had an expectation. They didn't match and we didn't have a deal. Simple as that.

I think what we hear as negotiation is only a part of the deal. There are numerous others where the deal didn't go through. And it's alright

I thought the idea of this thread was to show how to close on outbounds? “Simulate” if you may

 

[FolioTeam]

Buyer sounded like a domainer which isn't the case for the majority of end-users out there. The whole conversation sounded like a domainer trying to buy a domain from another domainer. Just my opinion

 

[Soofi]

Buyer sounded like a domainer which isn't the case for the majority of end-users out there. The whole conversation sounded like a domainer trying to buy a domain from another domainer. Just my opinion

some parts, I can agree.

most of the times, endusers aren’t that research savvy tbh @abstractdomainer

 

[kartikahuja]

Here are

Thanks @Soofi! The negotiation ends here.
The result is NO DEAL.

@kartikahuja Would you mind sharing what our conversation was, from both side?

Here is the conversation from @abstractdomainer

I am the owner of a small boutique construction company called Vira Group. Our group deals in land purchase/resale, construction, and sale of commercial as well as residential properties.
Number of employees: 90
Annual Turnover: $20 million

My budget for this domain name: Maximum as of now $2000 (can change as the negotiation progress, by 33%). Post that, it is off the table.
Considerations:

1) Vira.com is not developed and can be negotiated at low xxxxx (like $20,000 or so). We don't have the budget though.
2) Do not see many potential competitors for the name
3) All other major extensions taken
4) Group names typically sell for mid xxx as per NameBio
5) I am building an online presence to consolidate all my projects, build my presence online as we foray into multiple other markets, and expand our revenue by 100% in the next 2 years

Here is the conversation from @Soofi

I would not be willing to go lower than $18,888 as I have received dozens of (lowball) offers on this domain name.

There are multiple meanings of the term VIRA and use cases as well. Most of the reasons are listed here: https://en.wikipedia.org/wiki/Vira

 

[abstractdomainer]

Here are


Here is the conversation from @abstractdomainer

I am the owner of a small boutique construction company called Vira Group. Our group deals in land purchase/resale, construction, and sale of commercial as well as residential properties.
Number of employees: 90
Annual Turnover: $20 million

My budget for this domain name: Maximum as of now $2000 (can change as the negotiation progress, by 33%). Post that, it is off the table.
Considerations:

1) Vira.com is not developed and can be negotiated at low xxxxx (like $20,000 or so). We don't have the budget though.
2) Do not see many potential competitors for the name
3) All other major extensions taken
4) Group names typically sell for mid xxx as per NameBio
5) I am building an online presence to consolidate all my projects, build my presence online as we foray into multiple other markets, and expand our revenue by 100% in the next 2 years

Here is the conversation from @Soofi

I would not be willing to go lower than $18,888 as I have received dozens of (lowball) offers on this domain name.

There are multiple meanings of the term VIRA and use cases as well. Most of the reasons are listed here: https://en.wikipedia.org/wiki/Vira

Thanks for this. Here is what I learnt:

1) Seller had a minimum of $18,888. Buyer had the maximum of something like $3000, maybe $4,000 at max if the seller had budged.
2) There was no overlap involved. Since there was no sweet spot between what the buyer was offering and what the seller wanted, the deal didn't happen
3) @FolioTeam I take that as a suggestion. In the next negotiation, I will make sure that doesn't happen.
4) Sometimes, it is not possible to make a deal. It is alright. That is a negotiation too! Atleast we learned why sometimes something may not work. The buyer didn't have the budget. Seller didn't want to sell low. NO one is wrong! The best output here was NO DEAL.

More suggestions and learnings are welcome. Cheers for being a sport @Soofi @kartikahuja

 

[kartikahuja]

Thanks for this. Here is what I learnt:

1) Seller had a minimum of $18,888. Buyer had the maximum of something like $3000, maybe $4,000 at max if the seller had budged.
2) There was no overlap involved. Since there was no sweet spot between what the buyer was offering and what the seller wanted, the deal didn't happen
3) @FolioTeam I take that as a suggestion. In the next negotiation, I will make sure that doesn't happen.
4) Sometimes, it is not possible to make a deal. It is alright. That is a negotiation too! Atleast we learned why sometimes something may not work. The buyer didn't have the budget. Seller didn't want to sell low. NO one is wrong! The best output here was NO DEAL.

More suggestions and learnings are welcome. Cheers for being a sport @Soofi @kartikahuja

Thanks for arranging this, it is nice to see kind of negotiation, I was thinking things in my head as well.

Let's do more @abstractdomainer

 

[frostify]

Username: PawnStars_Rick

"Let me call a buddy of mine down here, he's an expert in domain names..."

"...alright it's real. best I can do is $3.27 for your one word .COM with estibot value $150,000 registered in 1995. It's gonna sit on the shelf awhile, I'll have to get it framed, it's my best price. Chumlee don't drop it! Let's do some paperwork."

 

[Soofi]

Thanks for this @abstractdomainer

more people should join and participate. It’ll be worthwhile learning’s!!

Thanks for this. Here is what I learnt:

1) Seller had a minimum of $18,888. Buyer had the maximum of something like $3000, maybe $4,000 at max if the seller had budged.
2) There was no overlap involved. Since there was no sweet spot between what the buyer was offering and what the seller wanted, the deal didn't happen
3) @FolioTeam I take that as a suggestion. In the next negotiation, I will make sure that doesn't happen.
4) Sometimes, it is not possible to make a deal. It is alright. That is a negotiation too! Atleast we learned why sometimes something may not work. The buyer didn't have the budget. Seller didn't want to sell low. NO one is wrong! The best output here was NO DEAL.

More suggestions and learnings are welcome. Cheers for being a sport @Soofi @kartikahuja

 

[abstractdomainer]

Cheers guys! I will start off with the second negotiation.
@Soofi Would you be the REFEREE this time? You have seen the seller side. And such a sport. If you agree, I will start the next negotiation bit.

Let's do some deals

 

[Soofi]

Referee

Cheers guys! I will start off with the second negotiation.
@Soofi Would you be the REFEREE this time? You have seen the seller side. And such a sport. If you agree, I will start the next negotiation bit.

Let's do some deals

 

[abstractdomainer]

All,

The link to Mock Negotiation #2 is here. Entries accepted till tomorrow. Please feel free to bring your .COM domain name.

https://www.namepros.com/threads/mock-negotiation-lets-negotiate-here-week-2.1250841/

In Week #3, we will negotiate a different extension. Cheers and thanks for being such an amazing audience!