Need negotiation advice

[ulasbbtr]

Today I received a low ball $xx offer for one of my .tv domain. Since I don't like such offers, I countered with $xxx,xxx .

5 minutes later, buyer countered this time with high $xxx 10 times more of his/her first offer. I think, high offer shows seriousness about purchase. What about countering in 5-minutes? What do you advice me for the next step? Thanks.

 

[MicroGuy]

What's the domain? How did you receive the offer, email, Sedo?

 

[ulasbbtr]

I got the offer from Sedo, its a generic .tv domain. Later Sedo, resolved buyer's comment, there commented to find a middle way. So I countered with the middle xx,xxx waiting...

 

[MicroGuy]

I got the offer from Sedo, its a generic .tv domain. Later Sedo, resolved buyer's comment, there commented to find a middle way. So I countered with the middle xx,xxx waiting...

Most generic .TV domains have premium renewals. It would be impossible to advise you without knowing the domain name. Good luck.

 

[mjbenterprises]

I would wait a day to counter again... Countering too fast reeks of desperation...

 

[Spade]

I would wait a day to counter again... Countering too fast reeks of desperation...

I call it "sweating" the buyer. If you respond too quickly, it shows a weak hand. Even if the decision would be the same a week or two from now, you need to show patience to improve your negotiating position.

Maximize your negotiating position by waiting atleast 24 hours between responses.

 

[ulasbbtr]

thank you for the tips, next time I'll surely wait a couple of days.

But actually, as a buyer I also don't like long waiting for the response, that's why I am replying back quickly.

 

[Jaco]

Countering with a XXX,XXX price is an awful, awful, AWFUL tactic.
It shows that you have some sort of childish 'emotional' attachment to your names and feel 'insulted' when someone submits an offer.

Minimum offers are a completely standard buyers tactic. By countering with ridiculously high prices, you are signaling to many buyers- who value their time- that you're a typical 'delusional domainer' and your prices bear no relationship to reality. You will lose more sales than you gain, this way.

Counter with a price that's on the high end of what you seriously want. You will find your conversion rate drastically improve with this method, rather than the stupid, STUPID method of counter-offering with a retarded price.

Also, the "sweat" is best used for extremely low level negotiations with low caliber people. Men of business tend to prefer things be done as timely as possible. The idea that countering quickly means a seller is 'desperate' is false. It just means that the seller is probably a person who spends a lot of time in front of a computer- as many of us do- and is able to promptly reply.

I presently have about five figures worth of pending offers on Sedo. The time in which the seller replies to my inquiry plays absolutely no role in my assessment of their position, or my ultimate decision making process. I will occasionally add in the remarks "I am serious about buying. Please desist with this delay tactic, as it's needlessly frustrating the process. Don't worry. I won't view promptness as being 'desperate' on your part. If you insist on waiting days to reply, I will be forced to look elsewhere. Thanks"

After I say that, it's funny... Replies seem to be within the hour.

 

[DomainTalker]

Frankly, an unrealistic buyer is as useless to healthy commerce as an unrealistic seller.

Increasingly, I'm seeing more and more buyers that are wholly unrealistic about the amount they are prepared to offer.


For example, I have a name that, before I bought it, had changed hands twice - each time for solid $xxxx - + there are a bunch of comparable names that have been sold for $xxxx.

Since I've owned this name, I've had seven $xx offers for it.

When I replied quoting evidence to justify a $xxxx price for it, they've disappeared.....None have attempted to justify why they think the name is worth only only $xx. None have bothered to discuss the price differential between us.....This is not unusual - even a norm, imo. And, its very unprofessional, imo.


Nobody minds different views on value. But, buyers should understand that commerce works both ways. 'Desperation', or not, on the part of the seller isn't the key issue. Quality, informed, business communication IS.

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[godolphin]

Hope this deal works out in your favor. Keep us posted.

 

[Jaco]

Frankly, an unrealistic buyer is as useless to healthy commerce as an unrealistic seller.

Increasingly, I'm seeing more and more buyers that are wholly unrealistic about the amount they are prepared to offer.

Then set your minimum higher.
It's illogical to post a XX,XXX name with a $60 minimum, then kvetch about the inevitable flood of offers that exhibit some sort of relationship to your minimum. Many buyers on SEDO use the minimum as their barometer as to whether the name is in their price range, or not.

 

[MicroGuy]

It's illogical to post a XX,XXX name with a $60 minimum...

Agreed. In addition, if this domain sells for the mid $XX,XXX that was countered it could set a record. HOT.TV sold for $35K but that was back when .TV still had a pulse.

 

[Nattydomain]

i feel a fast response shows 1 your serious as well and 2 you already know what price you want as you did not have to thinkn about it and do researh. If I get a lowball offer I reply asap to what Im looking for. I only respond back ina few days if no response from the first offer.

 

[verbster]

Reply quickly vs. wait a while
low minimum and high counter vs. high minimum and skimpy counter
lowball vs. highball
send to auction vs. negotiate
etc. vs. etc.

Conflicting advice and opinions on selling and buying just goes to show how subjective domaining is. What works in one situation or for one buyer or seller is no guarantee for the next. Most of the advice given here is good, but it's up to you to decide which is the best approach for your particular seller. The simple fact that your $xx,xxx counter to the $xx offer resulted in an $xxx counter from the buyer (instead of calling you names and telling you where to go) says quite a bit about the buyer. In the end, it's usually all about a fair compromise, isn't it?

 

[DomainTalker]

It's illogical to post a XX,XXX name with a $60 minimum.

Agreed.

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