strategy Price Upon Request

[Nikhil Jain]

Hello everyone,

Just came across this excellent tweet by Rick Schwartz regarding the concept of Make an Offer which is quite prevalent in the domain industry.

https://twitter.com/DomainKing/status/1185881107608289280?s=19

Morning Folks!!

"Make an offer" is a loser!!
It's WEAK!!

In #RealEstate they use a much SMARTER option. It does not look like a DISTRESS sale!

I would advise EVERYONE using "Make an offer" to update to:

"PRICE UPON REQUEST"

#Domains #investing #investors #marketing #branding

I have personally never been a fan of "Make an Offer" option, as I am unable to digest this point where I am asking someone outside the domain industry to "Make an offer" on an asset that I own, rather than being able to valuate it myself.

Rick Schwartz has given a superb alternative which is much more logical and looks more professional - "Price Upon Request".

What do y'all think?

Something that @Rob Monster @Reza and a few other leaders can think about to implement the same.

 

[Shadeems]

@Shadeems thanks for the statistics. What is your portfolio size, at least on your marketplace?

On Efty, it’s around 350 domains.

 

[DaveX]

I think domain investors as buyers, like Price Upon Request.

Maybe NamePros should add this classification.

 

[biggie]

I think domain investors as buyers, like Price Upon Request.

I'm a buyer too and don't think it's for namepros, but feel free to imitate.
why not just ask for the BIN, as most already do, regardless if it's a make offer thread or auction?

and who's gonna request a price for reg fee names?

as @equity78 said below from a previous post, in reference to RS:

Most people don't own names like that, then some people don't even have good names and are trying to apply sales principles that apply to half of 1 percent of all registered domains.

imo...

 

[DaveX]

My experience with make offer here on NP is what prompted me to suggest the possibility of PUR as an option..

Often times sellers are adamant that an offer be first before they will even talk. And then an offer is made and the seller simply says too low. Not productive for either.

Fixed price is clear..it means fixed price.

PUR would be a clear way for a seller to not list a price, field interest, and provide the price upon request if so inclined.

To me it's different than Make Offer.

 

[biggie]

My experience with make offer here on NP is what prompted me to suggest the possibility of PUR as an option..

Often times sellers are adamant that an offer be first before they will even talk. And then an offer is made and the seller simply says too low. Not productive for either.

Fixed price is clear..it means fixed price.

PUR would be a clear way for a seller to not list a price, field interest, and provide the price upon request if so inclined.

To me it's different than Make Offer.

Hi

I do agree that some sellers can be adamant that an offer be made first, before they will even talk.-
then after an offer is made, the seller simply says too low.

i agree with that, because i have done it many times and for me, it works.
there are way too many lowballers, inexperienced, unknowledgeable people wanting quality names for less than last years value

i'm not gonna sell a 3 letter .org that makes $100 a year for $300

but, lets say i got pur on a name you interested in and you request a price
then i reply with "Make an Offer" what are you going to do then?

walk away or make an offer?

imo...

 

[DaveX]

Hi

I do agree that sellers can be adamant that an offer be made first, before they will even talk.-
then after an offer is made, the seller simply says too low.

i agree with that, because i have done it many times and for me, it works.

i'm not gonna sell a 3 letter .org that makes $100 a year for $300

but, lets say i got pur on a name you interested in and you request a price
then i reply with "Make an Offer" what are you going to do then?

walk away or make an offer?

imo...

Personally, on Afternic for example, if I set a name to PUR, if I get a request, I give a price. I give 3 prices actually. BIN, Floor and Minimum Offer. I wish they would add installments option.

If I set to PUR, I give a price.

 

[DaveX]

Hi

I do agree that some sellers can be adamant that an offer be made first, before they will even talk.-
then after an offer is made, the seller simply says too low.

i agree with that, because i have done it many times and for me, it works.
there are way too many lowballers, inexperienced, unknowledgeable people wanting quality names for less than last years value

i'm not gonna sell a 3 letter .org that makes $100 a year for $300

but, lets say i got pur on a name you interested in and you request a price
then i reply with "Make an Offer" what are you going to do then?

walk away or make an offer?

imo...

I will say this...

If you walk into a Ferrari dealership...its price upon request.

If you ask for a price, you probably cant afford it.

The salesman will reply, "Before we talk price, I need to know that you are qualified. We need to know who you are. Just a few questions...", unless you're Lil Wayne or some known person.

Anyway, at least here on NP, you kind of know something about who's asking for a price, which I feel is important before quoting a price.

 

[DaveX]

I do like Make Offer where the seller puts an expected range. Like when they put $x,xxx, for example.

That gives some idea at least.