Non-Payer at Undeveloped.com

[wot]

Information provided by Undeveloped.com after "buyer" who had agreed to purchase failed to respond to 4 reminders and was subsequently warned of the consequences.

• Name: tong
• Email: [email protected]
• Phone: +658393XXXX

IP Address -Singapore 137.132.253.10

Too many of these non payers around and they need to be exposed accordingly.

 

[anantj]

Buyer: “how much for these oranges?”
Seller: “$3 per kg.”
Buyer: “can you do $2 kg?”
Seller: “ok”
Buyer: “I remember I still have some at home / now I realize these oranges aren’t good enough / I suddenly don’t feel like eating fruit. I wouldn’t buy today.”
Seller took a photo of that customer to print out and stick it in the street with a writing “this man backed out from an orange deal”.

Somehow, you've conveniently chosen to ignore the contractual obligation that is mandated when you make an offer (a binding offer)

 

[Armageddon]

Escrow.com
[email protected] $ 575
[email protected] $6666
+ another $ 16666 email adress was absolute fantastic [email protected]
SEDO.com (BuyNow)
nam hai
ngoc doan
hai an
180000 hai phong
Vietnam | 5577 euro
Hey Wot i know you "love" me very much & follow me on other forums but maybe you know this guys
Just a legit question

 

[ResoluteDomains]

I wonder if they are locking in your price, shopping it around hoping to find someone to pay more, and then hoping to pay you and flip it. Thoughts?

I dont know. Sounds possible and I am sure it has happened to us without us realizing..

Sometimes I will receive another offer, days or weeks later, as I am waiting for payment from the original buyer.

The offer is usually lower, but there have been times where it was higher. I often wondered if I was being toyed with - especially with the higher offers. To see if I will break the original agreement... But in all cases when the buyer becomes a deadbeat, the prospect with the other offer never responds. Working in tandem, who knows. Then all goes silent for the domain for a while. Its odd.

 

[wot]

What’s the problem? I picked up stuffs at super market, when I got to the checkpoint, I decided not to buy some of them all the time.
Even when I took them home, I could still return some of them within 7 days.

So from your way of thinking in terms of domains you don't have a problem breaking agreements then?
Not doing your rep a lot of good making those kind of statements.

 

[DnEbook]

There will always be non payers, here and on other sales platforms. The systems in place are the ones that work best in the sales platforms view. I am willing to guess that not every person "paying" off a domain at Huge Domains fulfils the contract. Except in that instance the "house" wins and they keep the domain and the money.

 

[offthehandle]

I agree with MD, chasing after deadbeats is sapping your enthusiasm and the negative energy is a waste. Focus on the good and moving forward, sales is always a numbers game and dependent on lead flow. You guys that don’t do outbound get less leads so what happens is you put more emotional investment in these non closing sales, hence the frustration. Rather than posting flaky buyers names, work on something that generates positive vibes.

In all my years, I have spent at least 20,000-25,000 hours on the phone in solving technical sales challenges, and most were good solid incoming leads. I would patiently work with each prospect and regardless the minority of buyers were vastly outnumbered by the amount of time wasters, flakes, liars (Buyers are liars, ever heard that before?). It’s part of the game and goes with the territory. Just be glad you are not selling life insurance or some other intangible.

@AGAME yes, As far as requiring a non refundable deposit on order to bid on ALL platforms should be required. I have had about 10 sales of piddly amounts not close on platform auctions, really stupid incompetent business people, amateurs completely. If the platform kept say a $100 deposit, it would eliminate some of the idiots.

 

[wot]

You either have a buyer or not.

BestBuy and Costco probably have the biggest buyers regrets where items are returned.

It's all part of the business, you have to let it go and move on. An almost sale is still a no sale and there is not much you can do. Trying to shame the people wastes more of your time. Take the sales you actually get and forget the rest. Move on and you will be in a far better mental space.

If I had a dime for every time I thought I had a sale.....

Crap.... now you made me think about it

Not a problem for me to name and shame, done it for years will continue to do so and probably continue to make a few sales along the way, over 1000 to date so obviously my system suits me.

It's also a service to others as the waste of space "buyers" get indexed very quickly so certainly helps with due diligence and a service to others.

 

[Andrew Knox]

Instead of my first big sale I just had my first big non payer :/ It was on GoDaddy so I didn't even get their details. I also had a non payer for a $xxx name at Flippa. That's 2/7 sales this year >.<

I agree that a 10% deposit (or fixed fee) should be required within 72 hours. What is the point in waiting 15 days for someone who never even bothers to communicate? I can understand needing time to get funds, approval, etc but they can't send a simple "Hi, I need a couple of weeks" GTFOH!

 

[DAN.COM]

In ~95% of cases I don't have these problems because I use Bodis and ParkingCrew only...
So such non-payers disappear even before I start the escrow transaction... within negotiation phase.

Using Bodus or PC is more a filter than a solution though. We could also stop showing all leads until they pay but that's really not a solution to the problem that all marketplaces have with non-payers for various reasons.

I do know that our setup, which is on purpose very frictionless, does allow more real buyers eventually to go through the funnel and transact with our sellers.

 

[MapleDots]

FYI Kate I believe no longer participates here, at least she has not logged in quite some time- June 6.

It is because of situations like this we lose great forum contributors.

I appreciate that @Rory Ivey took back and owned his response but he also stated this is not a dating forum.

It has nothing to do with what type of forum it is, the object of a discussion forum is to criticize the idea and not the person. Name calling is not a way to discuss things on an open forum.

 

[bluemeteor]

What’s the problem? I picked up stuffs at super market, when I got to the checkpoint, I decided not to buy some of them all the time.
Even when I took them home, I could still return some of them within 7 days.

 

[bluemeteor]

I will remember this when making a 'binding' commitment to buy your domains. You should also advertise your 7-day buyback guarantee.

You're welcome to do that. Just I don't provide 7 day buyback guarantee.

 

[wot]

Escrow.com
[email protected] $ 575
[email protected] $6666
+ another $ 16666 email adress was absolute fantastic [email protected]
SEDO.com (BuyNow)
nam hai
ngoc doan
hai an
180000 hai phong
Vietnam | 5577 euro
Hey Wot i know you "love" me very much & follow me on other forums but maybe you know this guys
Just a legit question

No I don't know them, but maybe they thought they were buying something other than what they had made the offers on?

 

[DnEbook]

Buyer: “how much for these oranges?”
Seller: “$3 per kg.”
Buyer: “can you do $2 kg?”
Seller: “ok”
Buyer: “I remember I still have some at home / now I realize these oranges aren’t good enough / I suddenly don’t feel like eating fruit. I wouldn’t buy today.”
Seller took a photo of that customer to print out and stick it in the street with a writing “this man backed out from an orange deal”.

Sounds like ........ "sour lemons"

 

[Jurgen Wolf]

In ~95% of cases I don't have these problems because I use Bodis and ParkingCrew only...
So such non-payers disappear even before I start the escrow transaction... within negotiation phase.

 

[Jurgen Wolf]

I doubt Sedo ever does that unless we are talking about very large transactions.

Sedo just sends 2 or 3 email-reminders... every 3 days... and that's all. They don't call by phone.

 

[-AR-]

I have had two so far this year and probably another two that I will be adding to list by the look of it. The best way to avoid such a problem would be to to better verify the buyers, either via ID like NameJet does before they can place an offer/bid or if Undeveloped deals with the actual negotiations and only brings forward solid leads (but that might be too much work for them). Finally I think we just have to stay positive and move on to the next lead and not waste too much energy thinking about a lost sale, otherwise we will just feel down unnecessarily and miss the next opportunity by focusing the wrong aspects of the business.

 

[Leo Angelo]

I agree that a NamePros public list of suspicious non-payers would be nice. It could be used to check sizeable offers: if the buyer's email gets a hit, it would help reduce seller's false hope and associated grief.

 

[ResoluteDomains]

Instead of my first big sale I just had my first big non payer :/ It was on GoDaddy so I didn't even get their details. I also had a non payer for a $xxx name at Flippa. That's 2/7 sales this year >.<

I agree that a 10% deposit (or fixed fee) should be required within 72 hours. What is the point in waiting 15 days for someone who never even bothers to communicate? I can understand needing time to get funds, approval, etc but they can't send a simple "Hi, I need a couple of weeks" GTFOH!

Sorry to hear that. Something needs to change in our industry.

 

[Andrew Knox]

Sorry to hear that. Something needs to change in our industry.

Meh. It will be that much more satisfying when it sells for more

 

[pokainc]

Whether Undev or Godaddy, or elsewhere, there are always some non-payers UNFORTUNATELY!..and as domains get more popular and attract all kinds of people.. this will somewhat increase as penalties are pretty much non-existent, unless you decide to go to court, spend a lot of money and time, often years...

(NOT A LAWYER, HAVE SOME IDEA + SOME LOGIC, THIS IS NOT LEGAL ADVICE) They are contractually obligated to honor the deal as clicking accept is similar to signing their name on the agreement contract.. but even that can be somewhat fought in court if you ever reach there...

One option would maybe be to freeze a % of an offer on the buyers Credit Card or bank account when an offer is made.. and if there's an agreement and no payment, you get that amount. But again.. it comes with all kinds of legal issues and technicalities associated to it.

 

[Embrand]

Accept it! Take it and run! You'll never see another chance like this.

Too late. I already declined. So I guess Bill Gates will have to find another name or increase his offer

 

[golan]

Too late. I already declined. So I guess Bill Gates will have to find another name or increase his offer

 

[ResoluteDomains]

Apart from the non-payers, you also have "funny" offers like this one I just got:

"You have a new offer of $348,446 on the domain name xxx.xx! The name of the buyer is Bill Gates."

Another example of why buyer verification and a deposit are so important. If "Bill Gates" had to verify his identity AND plop down 10% into escrow, he'd think twice before messing with you.

 

[Bearded Goat]

I have had Sedo make phone calls on several occasions. I think it may depend on the transfer agent.