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Need some help responding to an end-user...

Labeled as advice in General Domain Discussion started by thevictor, Jun 13, 2018.

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  1. thevictor

    thevictor Established Member

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    Hey NP,

    Need some advice on how to respond to an end-user I've been working with for a few days.

    Without including every detail of the email communication, the last email I received from him stated that he is unable to make any higher offer for at least 3 months, until the future of his business is confirmed. From what I understand, he is thinking about or working on selling the IP to a larger consulting firm and possibly joining that firm as a partner.

    What do you guys/gals think would be a good response in this case?

    Also, I think it is important to note that I also received another offer from an afternic broker on the same name, which was double the offer I got from the end-user. I have a feeling it may be the same guy playing on 2 fronts...

    Thanks in advance for any and all input on this!
     
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  2. Joshua Harding

    Joshua Harding AvailDomains.com Gold Account

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    If I understand correctly:

    Waiting for the end-user is uncertain, and they're offering you less. Whereas the broker has offered you more, and there's a measure of certainty.

    If you're happy with the price being offered by the broker, you should accept their offer. Waiting 3 months for an uncertain buyer is much less appealing than closing a deal for certain now.
     
  3. thevictor

    thevictor Established Member

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    I definitely agree that more is better, but at the same time, I also think that I may be leaving $ on the table.

    As noted, I have a feeling the broker is representing the same end-user I have been communicating with since both offers were made around the same time on the same domain name.

    I think he is doing this so the offer that came from the broker looks much sweeter now since to some people a 3 month wait may sound too long. I have no problem with waiting, just looking for some ideas on how to overcome the end-user objection in this case. I was thinking about possibly suggesting for him to make some type of a deposit to keep the domain name off the market until he figures out the future of his business, but at the same time this may come off a bit desperate.
     
  4. ultradog

    ultradog Established Member

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    Several times, buyers have said something similar, wanting to buy but needing to wait for months. Not one of them has been reachable later on. I wouldn't count on it. Do a sale you can do now, unless you want to offer this buyer a payment plan (and he agrees to that).
     
  5. hawkeye

    hawkeye Top Member PRO VIP ★★★★★★★★★★

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    Just tell the 'want to wait' buyer you have another offer to buy it 'now', and if they will match or meet that now, they can have it. But as opposed to waiting on 'maybe' they'll come back for it in 3 months (or not), you're going to sell it to the other potential buyer. In other words, tell them 'sh*t or get off the pot! Others have to go too!"
     
  6. thevictor

    thevictor Established Member

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    I did give him that option to do a payment plan, and let him know there was another offer we were considering, which is when he responded with the "3 months".
     
  7. thevictor

    thevictor Established Member

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    The reason why I think the broker is also representing the same "want to wait" buyer is the timing of both offers, within days from each other, and also because the domain name is a ngTLD and is an exact match for his consulting business. He recently, within the past couple months, registered the .io version and neither .com or .net are available to register.
     
  8. thevictor

    thevictor Established Member

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    Any other suggestions or ideas on this?
     
  9. sbweb

    sbweb Active Member VIP ★★★★★★★★★★

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    Deal 1 sounds uncertain although if it goes through could be a nice payday for you. But during the 3 months, a lot can change/happen. They may lose interest. They're business idea might fall apart.

    Deal 2 sounds more certain, as you're dealing with a known company broker. If you're ok with the price, but want a little more, you can always counter-offer. You can negotiate with brokers too.

    I'm not sure if the 2nd deal is related to the first deal because typically they go through buyer brokers if they're trying to get a lower price or feel safe. But who knows, he might have a feel for what price you want and went for it.

    Just my initial thoughts...
     
    Last edited: Jun 13, 2018
  10. thevictor

    thevictor Established Member

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    Thanks for this @sbweb
    What do you think about asking for a deposit to pull the domain off the market? Or can you suggest any other response to the end-users 3 month email?
     
  11. sbweb

    sbweb Active Member VIP ★★★★★★★★★★

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    You mean you agree to a price now, they put an upfront deposit, then after 3 months, they pay you the rest? Sure, that could work. There should be escrow services that can accommodate structured deals like this.

    If deal 1 is what you're after, then I think it's best to setup a deal now while they're still interested and ready to commit. If you wait 3 months, a lot can change.
     
  12. thevictor

    thevictor Established Member

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    Thanks everyone for their input. If anyone else has any creative ideas please feel free to share.
     
  13. Vinod R

    Vinod R Upgraded Member Gold Account

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    As you have said the 2 buyers would be the same, let that be the same that is just what we think, if they are the same or not that does not make any difference. If the broker has offered you more, make a counteroffer. Ask the end user for the same price and sell the name to the person who first commits the sale.

    The waiting game is not good at all if the business goes bad and if he drops the plan we lose the sale.
    As you have stated asking for advance escrow might not work since most business owners want to minimize the cost and they will not agree to an escrow for advanced payment.
     
  14. thevictor

    thevictor Established Member

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    Thanks for your thoughts. I am hoping I can close this deal this week.
     

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