NEGOTIATION - A DOMAINER’S GPT?

[QUAD DOMAINS]

Greetings Everyone!

It doesn’t take much to realize the letters G - P - T have been making the rounds in many discussions as of late. From speculation about how it’s going to wipe out jobs, to creative ways it can be used, this technology has our attention.

It was the combination of a recent Twitter post from a fellow domainer, along with being accused of using ChatGPT in a Namepros answer we provided, that got us thinking about its potential impact on domaining.

To be clear, the answer we provided to the question here on Namepros was NOT derived from ChatGPT; and was formatted exactly like this one. (Sheesh! Can the human mind and decent writing skills get some credit here folks?)

Anyhow, it was the poll question from @DInvesting on Twitter about whether some domainers had used ChatGPT for inbound and/or outbound domain negotiations that left us speculating………and speculating.

🗣 In our response to his question, we stated in so many words that “our team unanimously agreed NOT to go down the rabbit-hole”; and that ChatGPT could eventually lead to “bots selling domain names to bots”. Is it possible or not?

We also stated that once domainers begin to use ChatGPT to negotiate domain sells, negotiations will become predictable and stale. Especially once buyers start implementing the tool to negotiate. The alarm has been sounded.

Please pardon us for believing human dialogue is an essential part of making the connection and then making the sale. Some would prefer just making the sale; but to them we ask: Are you a chatbot in disguise? ( Just kidding.)

Nevertheless, we believe certain uses of the ChatGPT tool in negotiating could undoubtedly extract value from both transactions and interactions. There’d be no one to empower; and no real satisfaction to gain with each buy/sale. Just an occurrence to reference. Boring right?

🛠 We’re NOT against ChatGPT being used to expedite the completion of certain domaining tasks. We simply believe that human dialogue fosters connection, accountability and a true benefit for all. Is this old-fashioned?



SINCERELY,

Mel and your friends at QUAD DOMAINS

 

[AEProgram]

Domain negotiations are simple for inbound offers.

1. You must set a price in your mind what you want. You cannot negotiate properly if you don't know your goal.

2. Regardless how far that price is from the offer, you must share it with the first counter.

3. Regardless of the initial offer, you must counter or risk losing the sale. If you had in mind to get 5k for a name and someone offers 7k, counter. This is not because you are greedy, this is a psychological must because accepting the offer causes the buyer and their friends to think that if you offered less you would've sold for that amount. This is why every domainer will have stories about accepting the first offer and the buyer vanishing. The 7k offer doesn't have to be countered big, even if you countered with 8k, it's good enough for the buyer to feel they will get a steal at 7.5k. Obviously, in real life if an initial offer is 7k, you would be a fool to just counter at 8k, but that is another story.

4. If you are chatting with the buyer, always ask when they would pay if you do agree to their offer. This gives the feeling that you are only entertaining it because you need money now and buyers love to feel they got you at the perfect time that you needed money badly and they happen to need your name.

5. Only start pitching benefits of the name if you feel the sale is lost. Buyers already pitched themselves benefits before they contacted you. Talk about other sales, keyword volume, radio tests, age of the name etc. only if you have to. The reason is, if you tell them about keyword volume, they might go looking for a better option. If you tell them about domain sales history, they might go looking for that data and they will find something else.

6. Always be kind. I lost sales for getting too upset at lowball offers.

7. Always make sure that all marketplaces you have your name listed on match with the amount you are asking or have the name listed with no BIN price.

8. A lot of domain sales are impulse buys. This is not a business that you can play the long game. You must be able to respond fast. Don't worry about coming off desperate. If you wait, they might bump into some negative person that talks them out of their idea or plan. They might also stop being as excited about their idea.

 

[redplanetpk]

I have never been in such situation to negotiate with the vendors ..