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Not improvising responses has worked for me. Here is what I do...

Labeled as tips in Domain Buying and Selling Discussion, started by infosec3, May 10, 2020

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  1. infosec3

    infosec3 Top Contributor VIP Gold Account ★★★★★★★★★★

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    I just feel like sharing a tip today on something that has worked very well for me when responding to parties that show interest in my domains.

    A technique I have used is having a set of well-though specific responses to nearly every possible situation. The rationale for this is that improvising a response introduces a set of unpredictable variables into the interaction with prospects, so I want to avoid that. I have done this based on my experience in dealing with potential buyers. Here are some of the categories of pre-written responses I have:
    1. If a buyer makes a low ball offer...
    2. If a buyer asks for stats
    3. If a buyer replies with a lower offer
    4. If a buyer agrees to buy the domain for the quoted price
    5. If a buyer asks me to prove I own the domain
    I do not plan on giving details on all my responses here, but will focus on one of the above and the reasoning behind it.

    If I am selling a domain for $1,800 and a potential buyer says the maximum he can do is $1400, I don't immediately say yes, without additional explanation. I say something like this:

    "We think the domain is worth more, but that's fine, we accept your $1400 offer."

    The reasoning behind this response and its wording is that I will never give the buyer the idea that he is paying too much for the name, which is what he will think if I immediately agree to his offer without explaining why. The response also sends the message that he has won in this psychological battle, which is what every sale negotiation is, because the domain is selling for his offer, not for the number I had quoted.

    In summary, think about the responses you have given to interested parties and the result of each one of those responses. What could you have done better to make the sale? Having a set of pre-written responses, that you can modify, just slightly to fit the specific situation, may help you score more sales.
     
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  2. wurdd

    wurdd Top Contributor VIP

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    What do you do when this happens? Personally, I panic and quote a lower price.
     
    Last edited: May 10, 2020
  3. Sumeeth

    Sumeeth DomExpert Epik.com Staff VIP

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    Thanks for sharing. Great reply instead of saying just Yes.. This makes client feel that he has good deal psychologically.. :)
     
    Last edited: May 10, 2020
  4. AbdulBasit.com

    AbdulBasit.com DomainsWeb.com AbdulBasit.com PRO VIP ★★★★★★★★★★

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    Thanks for sharing your experience.

    I use it as well but in a little different way like:

    I'll accept your offer of $x,xxx only if you're to make payment by (deadline date).

    OR

    In order to make a quick deal here, I'll accept your offer of $x,xxx.


    It works very well.
     
    Last edited: May 11, 2020
  5. equity78

    equity78 Top Member TheDomains Staff TLDInvestors.com PRO VIP ★★★★★★★★★★

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    It's called a Rebuttal Book the movie Boiler Room, highlighted being a broker in the 80's it was common at all kinds of firms from high pressure to no pressure.
     

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