NameSilo

Offer comes in at $30,000 out of the blue

Labeled as offers in Domain Selling and Domain Sales, started by LarryDomain, Apr 23, 2018

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  1. LarryDomain

    LarryDomain Top Contributor VIP

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    Senario:
    1. Got an offer from Bodis for $30k..
    2. Responded with acceptance.
    3. Hear nothing for 5 days.
    4. Offer responds if the price is lowered to $15,000 they can fund it.

    What to do????
     
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  2. hwgriffi

    hwgriffi Account Closed (Disallowed)

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    Say nothing until the transaction is complete if you want the $30k.

    OR

    Take the $15k if you need it.


    In a negotiation you never accept the first offer bro.


    If they were ok with $30k you should counter with $50k or $100k. If they say no and stay at $30k at least you forced them to stay with their offer. Now they think they are getting a big deal, they might have even offered more if you countered from the start.

    Instead you accepted their first offer, and they questioned themselves and now you are getting a lower offer.

    What you do now is totally up to you, but that first move should always respond with a higher price by at least 15% - 20% bro.

    Thank you for sharing your experience, thumbs up to you bro. Good luck I hope it works out.
     
  3. jideofor

    jideofor Top Contributor VIP ★★★★★★★★★★

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    That is the problem with accepting offers straight out... You should have countered a bit higher than $30,000. say $35,000.

    Now with the way you QUICKLY accepted their offer as if you were desperate for the money, they felt they could have gotten it much cheaper and that is why they half their offer.

    This was what I was trying to explain to many namepros members on my thread few days ago, a scenario I had to prevent by countering their offer.
     
  4. jideofor

    jideofor Top Contributor VIP ★★★★★★★★★★

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    Exactly bro. I did an outbound few days ago and I got an offer straight out. Though it was a good offer based on the name, I had to counter a bit higher than their offer to prevent what just happened to the creator of this thread.
     
  5. bmugford

    bmugford www.DataCube.com PRO VIP ICA Member ★★★★★★★★★★

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    I won't re-negotiate on price after an agreement has been reached.

    The buyer has already shown they are not credible by offering $30K and then backing out.
    If you now agreed to $15K why would they honor that?

    Brad
     
  6. tldboss

    tldboss Top Contributor VIP

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    Hard to say without the name, cost and how long you have been holding the name, do you get inquiries all the time, are you willing to let the name go for 15K?

    There is a chance if you accept the offer of 15K, you will get another counter offer.

    If possible, find out about the prospective buyer as much as possible, then plan the next steps.
     
  7. Michael M

    Michael M Top Contributor VIP ★★★★★★★★★★

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    Always the delimma in these types of situations...

    Options I see:

    1. Stick firm on 30k.
    2. Accept 15k
    3. Counter the 15k but lower than 30k
    4. Ignore email about 15k and hope they contact you back with the 30k (wouldn't recommend, myself)

    Weigh the risk and reward for each and decide... Each option could work out a number of ways depending on who you are dealing with and their motivational level and bank account.
     
  8. namelancer

    namelancer Established Member

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    You've spilled the drink over the keyboard... it may be too late to salvage it, but be sure to keep a glass at a distance from the electrical appliances in the future. ; )
     
  9. Mahouni

    Mahouni Established Member ★★★★★★★★★★

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    One option is: Dont answer and put a Bodis BIN of 25k. Provide a way out for them but still be firm.
     
  10. jideofor

    jideofor Top Contributor VIP ★★★★★★★★★★

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    I think it would be better to just counter $29k and stick to it. If your counter to is too far away from $30k, it will make them feel you are desperate. Please counter just $29k.
     
  11. Galaxy Traveller

    Galaxy Traveller Established Member

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    Counter with any amount below 30K and more than 15K imo.
     
  12. namelancer

    namelancer Established Member

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    While doing just the opposite, ie countering too close to 30k, could be perceived as millimeter justice!
     
    Last edited: Apr 23, 2018
  13. wwwweb

    wwwweb Top Contributor VIP ★★★★★★★★★★

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    Flip it back to them $45K, just as they did. I had this happen once, depends on the quality of the domain, usually first offer of $15-30K, it must be significant then let them know you are a man of your word, and you don't do business like that. If it is a crap domains, then sell it, and move on. Who knows might be $7,500 in another 5 days.

    Maybe they spoke first, and then shopped for some options, and repriced some other options.
     
  14. shane mac

    shane mac Established Member ★★★★★★★★★★

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    The original 30k IMO is the amount they would be happy to pay, they would likely pay 45k but be unhappy about it, however, with accepting so fast they are chancing their arm and making a 15k offer. Some smart ass thinks he can pull one over you, if it were me, I would reject and slap a 50k price tag on it, then let them stew for a couple of months, if they really want it they will have to tow the line. Typical strong arm tactic.
     
  15. LarryDomain

    LarryDomain Top Contributor VIP

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    The domain has little value to me. So the high offer was really odd. Well i accepted the 15k and sent it to escrow. Lets see what happens in a few days.

    I didnt want to scare the buyer away cuz theres no way i am finding another buyer for it above $500.
     
  16. shane mac

    shane mac Established Member ★★★★★★★★★★

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    Good luck
     
  17. Mahouni

    Mahouni Established Member ★★★★★★★★★★

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    Yeah, if it's crap better let go all the ego and move that 15 bricks from your clients pocket into your pocket. Hope you close this one out and if you do congrats!

    Let us know how it goes.
     
  18. maxtra

    maxtra Let's make a deal VIP

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    Probably the way to go in this case. Wish you the best of luck and a completed deal!
     
  19. LarryDomain

    LarryDomain Top Contributor VIP

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    I agree with most of you on a higher counter initially. Its just sometimes when the offer is just so far off its value, its hard to come up with a counter and then backtrack to the lower price.
     
  20. imadoer

    imadoer Top Member PRO VIP

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    Change the Lander to 30000 bin leave it there. Go silent
     
  21. BrandVenue

    BrandVenue BrandVenue.com

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    Any clue where the offer came from? Company email / Free email? An offer can come far off from it's value if it's coming from a big company. When Facebook bought MessengerKids.com initial offer was $20K if I'm not mistaken.

    I personally think you should've countered later when they came back with $15K, to say at least $20K.
     
  22. LarryDomain

    LarryDomain Top Contributor VIP

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    Came from a VC. They said they were between my name and another.
     
  23. platey

    platey Top Contributor VIP

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    First person to speak loses

    which is why what you say is correct

    Which is why if op stays silent they get the 30k

    only a very skilled direct sales professional can stlop the silence in the attempted close and say something then reattempt the close which starts the silence again

    If buyer speaks

    Buyer has bought

    Is seller speaks

    Seller loses a sale

    Except in very very rare occasions
     
  24. Smiles76

    Smiles76 Established Member

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    So, someone is offering you 15K on a name that has little value to you and people are giving you advice to ask for more? This is why most domainers will go to their graves with most of their names: GREED!! I don't care how good a name is, there are always other options and never assume that a potential buyer is only considering your name. You're one click away from losing a sale that you many never get again.
     
  25. karmaco

    karmaco Top Contributor VIP

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    I would not have taken it. They offered an amount cut it in half thereby breaking their own word. There must be a value to this name with a 30K opening offer.

    I had someone try to walk back an offer once and I pointed out to them that they made the offer. I immediately raised the lowest offer price to the amount they were trying to lower and went silent. After two weeks they came back and paid $2500 more than they would have had they kept their word.

    This has zero to do with greed. You base your actions on the offer given to you from the onset.
     

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