Potential buyer lying, what should I say to him?

[Haris]

Hi guys,

When a potential buyer doesn't use a fake name and email and lies about how he's just a "broke college student that's working on a business startup" and the highest he can pay is low $xxx, but you can search his name and email and you find out that he's nowhere near broke. The proof is right there, The youtube channel, google+ account, twitter, instagram, linkedin and everything and it's clear that this guy is lying.

What will you do? Will you can him out and tell him he's lying? Or you will just stick to your asking price thinking that maybe he'll accept your price because he can afford it and if you'll call him out and insult him than he won't buy the domain from you?

Thanks!

 

[creataweb]

The price goes up.

 

[usernamex]

You answered your own question -
stick to your asking price thinking that maybe he'll accept your price because he can afford it and if you'll call him out and insult him than he won't buy the domain from you?

Whats the difference between your asking price and his offer?

LOL @creataweb

 

[creataweb]

The price goes up.

I say this because it happened to me recently. The email was the same type of lie but the man owned a successful business related to the domain and when he lowballed me I changed the price to 10x and he ended up buying it a couple of months later at BIN on GoDaddy.

 

[HotKey]

Knowledge is power- don't tell him what you know. Also keep in mind he may very well be a broke college dude (just like every other domainer, right?). Having multiple social media accounts means nothing in terms of wealth, it can give someone perceived status where otherwise they wouldn't.

I would only accept his price if not because he can afford it, but because you can afford it. As always, remain vigilant.

 

[Haris]

You answered your own question -
stick to your asking price thinking that maybe he'll accept your price because he can afford it and if you'll call him out and insult him than he won't buy the domain from you?

Whats the difference between your asking price and his offer?

LOL @creataweb

My price is $4000.. his max offer $350.. Can't sell domain for less than $2k.

 

[Haris]

The price goes up.

I say this because it happened to me recently. The email was the same type of lie but the man owned a successful business related to the domain and when he lowballed me I changed the price to 10x and he ended up buying it a couple of months later at BIN on GoDaddy.

I am not sure about increasing the price but I will stick to my asking price and add BIN to GD and other marketplaces so that he can buy from there. Thanks!

 

[Jurgen Wolf]

Usually I answer that I don't sell my domains in 3-figure range at all... regardless of their comments like personal usage, Estibot appraisal etc.

 

[Haris]

Knowledge is power- don't tell him what you know. Also keep in mind he may very well be a broke college dude (just like every other domainer, right?). Having multiple social media accounts means nothing in terms of wealth, it can give someone perceived status where otherwise they wouldn't.

I would only accept his price if not because he can afford it, but because you can afford it. As always, remain vigilant.

It's not about multiple social media accounts, it's just that he's a mechanical engineer with Biology minor and is going to attend medical school in 2019 and become a surgeon.. and he is also a fitness guy with 11k instagram followers.. the domain is related to fitness and that's what his startup will probably be about. I am 100% sure about all this. I am sure he can afford the domain.

 

[Jurgen Wolf]

p.s. Some student from Portland and without multiple social accounts (or any other interesting data) purchased .PRO domain from me for $2K in April...

 

[gilescoley]

This is a common tactic used to pull on the heart strings...just stick to your price

 

[johname]

What you do is tell the 'kid' to borrow money from their parents, then remind him/her about why the domain worth owning.

This 'saves face' and allows the possibility of the deal getting done.

 

[korganian]

Tell him you will let him use the domain now and finance it for only $100 per month for 48 months. No excuse that he can't afford it.

 

[wwwweb]

Just let them know you have turned down higher offers, that you are still in discussions with.

Don't call anyone out, regardless of their situation, it does not diminish the value of the domain, to bad, so sad.

They will come back, I can't tell you how many times people laughed, and said no, give them time, and the majority of the time they always come back, and end up paying more.

 

[SpareDomains]

Personally it only matters to me who the buyer is if it's a junk domain I'm looking to dump because then maybe I can get $1500 instead of $800. On my better names the price is the price no matter who inquires rich guy, broke college kid etc... as the domain is worth what it's worth and if the buyer can't pay then ya got the wrong buyer. You don't sell a 10k domain for $500 just because that's the first email ya received. So it's nothing more than....

We're gonna go ahead and close this as unfortunately were too far apart for negotiations to align on this one. If your budget increases in the future let us know. Thanks for the offer.

Assuming you mentioned payment plan arrangements in previous negotiations? If the offer isn't there and they aren't open to a payment plan nothing more to discuss ya got the wrong buyer. If they are lying and have money they will come back if not maybe they really were broke.

Time is money and I've been very successful in closing transactions from start to finish lightning fast and shutting down time wasters. Many I've shut down have reappeared with higher budgets some in days and some many months later. Best one $50 initial offer into a $7500 sale.

If your solid on 2k being the minimum and they won't do a payment plan no sense talking to a $350 offer. Close it down and see if they come back.

Most of the money I've made in domaining is by pretending I don't care or need the money.

 

[Haris]

What you do is tell the 'kid' to borrow money from their parents, then remind him/her about why the domain worth owning.

This 'saves face' and allows the possibility of the deal getting done.

Tell him you will let him use the domain now and finance it for only $100 per month for 48 months. No excuse that he can't afford it.

Gave him both choices. But he is going for another domain.

Thanks for the ideas guys, will help in future.

 

[IMEZI]

if your domain name closely related to his primary earning source then it will be interesting gameplay LOL just email his competitor and see where the conversation go to. If his competitor interested with the domain name then you could play the game raising the price between this potential buyer against his own competitor LOL

 

[HotKey]

It's not about multiple social media accounts, it's just that he's a mechanical engineer with Biology minor and is going to attend medical school in 2019 and become a surgeon.. and he is also a fitness guy with 11k instagram followers.. the domain is related to fitness and that's what his startup will probably be about. I am 100% sure about all this. I am sure he can afford the domain.

Ok, but he's not a surgeon just yet. He's also looking at forking out tens if not hundreds of thousands of dollars for that degree. Unless your name happens to be a perfect fit for his fitness startup, he might broaden his searches.
Anyhow, your name, your gig. If you can't afford to accept $350 than stick to your guns. It could be the beginning of negotiating towards that $4k you're looking for. I can't imagine someone would seriously think their first offer is the be all and end all. Even broke students have an extra beer or two stashed away.

 

[DomainVP]

Lot's of great advice here.

Be nice, maintain your price, and don't fear the silence.

Good luck @Haris !

 

[Lox]

My price is $4000

Read this 100x

.. & keep the intel aside. No need for negotiation, just implement metrics. imo

 

[Cdomains]

This is a common lie used to get a domain at a discount.

Another one is "I don't really need this domain, I already have a great one and don't really need yours, but I will buy it if the price is right."

 

[pokainc]

I would say the last 6 months this trend of "student project" or "non-profit project" , etc.. type of emails are becoming popular... I don't know what made this type of email all of a sudden much more frequent, but at a point, it's clear that there's a lot of pretenders. Stick to your guns.. if it's a name you're not too attached too, then if they reach at least $500, then I would say sell it.

 

[Haris]

It's a nice name with some potential buyers I can contact, so I am not worried about it. I just wanted to know what people do in this situation. Thanks for all the responses, very helpful.

 

[lock]

Thanks for your interest but only looking for offer closer to selling price.
Domains have proven profitable in past with students on selling their projects.

 

[Innoverge]

Hi guys,

When a potential buyer doesn't use a fake name and email and lies about how he's just a "broke college student that's working on a business startup" and the highest he can pay is low $xxx, but you can search his name and email and you find out that he's nowhere near broke. The proof is right there, The youtube channel, google+ account, twitter, instagram, linkedin and everything and it's clear that this guy is lying.

What will you do? Will you can him out and tell him he's lying? Or you will just stick to your asking price thinking that maybe he'll accept your price because he can afford it and if you'll call him out and insult him than he won't buy the domain from you?

Thanks!

'Broke' could either be a self-deprecating way of saying, one has got other expenses lined up for his venture and can't afford to spend a lot on this domain or just one wants the name and is trying to get the best possible value.
Since he hasn't attempted to mask his identity i would guess it's most probably the former and he's got nothing to hide.
But, if he's trying to pull one over on you, this ill-conceived deceit would ironically be more effective and the best strategy.
Either way, it comes down to how generous you want to be with this domain.