NameSilo

Pushed domain first end user no payment

Located in General Domain Discussion started by BrandKart, Oct 24, 2018.

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  1. Domains - Wanted

    Domains - Wanted Top Member VIP

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    Rarely, if ever, do I agree to transfer/deliver anything before payment is made in full. These days, non performing clients (or suppliers for that matter!) seem to be the norm, rather than the exception. For all kinds of ridiculous reasons. Not neccessarily outright fraud. For some reason, a lot of people seem to think their (often petty or invented) problems, should also be your problems :banghead:
    Life's too short for that. We all have our problems as it is. I like to freely decide what problems, issues, I'm willing to share, not having been drawn into it by lack of payment. Or lack of delivery. Or product quality issues. Or whatever! (n)
    I think this is overkill. I like the form on general principles, but not to start with. All this information (and more!), can be asked when the transaction is agreed and it's time to draw up documents (y)

    I see you also limit offers to $1,000 or more. This may be well justified by the high quality of your names for sale. However, I have closed many deals in the vicinity of $1,000 that began with a lowball $100 or $200. Communication is key. I prefer not to put any stumbling blocks in front of any potential goose, laying golden eggs :xf.grin:
     
    Last edited: Oct 28, 2018
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  2. domainventure

    domainventure Top Member VIP

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    So, recently, I had an instance where I had connected with a potential buyer, and we negotiated a price for the domain. The whole domain negotiation process was long drawn and lasted several days,over the course of which, we fairly had a bit of a talk and all that so there was some kind of relationship built. The buyer was always prompt in response as well as very courteous, as was I.

    But then for a point, there was complete radio silence from the buyer for more than 25 days, even though we closed the deal subsequently. It was all pretty smooth, except for the time it took to close. Sometimes, buyers have their own things going on and the domain may not be central to their existence. Any business requires patience, especially our business. We need tons of that.

    I am not saying the OP does not have the patience, just saying that sometimes people have other stuff going on and may not place the same importance we do on the transaction and may get to it on their own time..... Unfortunately true, when we do the transaction on our own and are reaching out in the first place.

    Perhaps a good reason why most of the platforms are so successful. They are fairly efficient in ironing out these typical transactional issues, for the most parts at least.
     
  3. MapleDots

    MapleDots Domain Properties 2010 - 2019 VIP

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    I don't have the time to address lowball offers, and prefer to have no contact over wasted time contact.

    As far as the form goes.... it's not overkill, it tells the buyer that acquiring a domain as a nobody and then using it for a high grade company is not acceptable. You must accept terms that you are disclosing the end user. It puts the negotiations on a level playing field.

    It has served me well to know who I am dealing with and it has made me lots more money than dealing with anonymous purchasers.
     
    Last edited: Oct 28, 2018
  4. Recons.Com

    Recons.Com Top Member VIP

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    Wow. I would imagine you lose lots of potential sales like that
     
  5. Domains - Wanted

    Domains - Wanted Top Member VIP

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    Fair enough. Depends on the names you have on offer and your profit targets. Having low working capital relative to my ambitions, I purposefully concentrate on the low end market (handregs, geodomains, short madeup brandables, etc.). In this business, that's where the profits are the most outrageous. Per capita, that is. So not without its constraints, costs of doing business (having to register and needing to move a great many domains, doing outbound, dealing with lowballers, etc.).
    Good point. I may have to rethink my approach a bit :sneaky:
    To each his own. I have a unique domain valuation system (relative to most people here), that's not in any way subservient to whom I'm dealing with. Life's much more fun and less stressful this way :xf.wink::xf.smile:

    This is not to say that it's not a good idea to know whom the buyer is, ask for more information. Not so much of an issue when doing outbound, though, where you have a pretty good idea, whom you are targeting... well, at least I do :xf.grin:
     
    Last edited: Oct 28, 2018
  6. Adnan Shaikh

    Adnan Shaikh Established Member

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    @Brand Ultra, sorry bro I know how you feel. I would just like to add, learn and move on. All the best
     
  7. Domains - Wanted

    Domains - Wanted Top Member VIP

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    Normal practice for you only, you mean? (n)

    Having been at this, as you say, for 10 years, you knew and assumed the risks involved. Why would anyone in their right mind forego any insurance policy is beyond me. Why not deal through, say, Epik and sleep like a baby, knowing you will get 95% of your money and the buyer will get his domain? :banghead::banghead:
     
  8. frostify

    frostify Top Member VIP

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    I've personally made a deal about a domain, didn't get a response, woke up the next morning and the domain was pushed to my account and I panicked because I thought the other guy would be worried I was trying not to pay or something when really I was just asleep for the night. Luckily they were totally understanding but yea 12 hours is not enough to be worried about. If you don't hear back after 24 hours I'd start to be concerned, after 48 hours I'd start to get upset, at 72 hours I'd send a debt collector.

    Give the dude the benefit of the doubt but if he still goes silent after 48/72 hours I'd start to take it a bit more seriously and take action. I hope it works out for you. Like others have said use undeveloped.com or escrow.com or something if the person has little or no feedback (or even bad feedback).
     
  9. Tunababa8v

    Tunababa8v Established Member

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  10. BrandKart

    BrandKart Pick the right name with us ! VIP

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    No payment No update
     
  11. stub

    stub Top Member PRO VIP ★★★★★★★★★★

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    After I get my form designed along your lines (in between 1000 other things I'm supposed to be doing). Any email inquiries I get for ANY domain. I'm going to reply, not saying anything, just point them to my contact form page. Dealing with unknown people trying to negotiate a domain, gone for good. Hopefully :) Do you save all this information in a database?
     
    Last edited: Oct 28, 2018
  12. MapleDots

    MapleDots Domain Properties 2010 - 2019 VIP

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    Here is an example
    I save all info and I do exactly that. Anyone that calls my number or emails is told to go to https://mapledots.ca/contact/ to start negotiations.
     
    Last edited: Oct 28, 2018
  13. Tom K

    Tom K Account Auto-Closed

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    Sorry, haven’t had time to read all the replies but wanted to chime in because this is an important question. Apologies if I am repeating anything already said.

    First off, this type of deal should be done through escrow. But apparently that was not done I gather from the op.

    Second, if you have an account rep at your registrar it would be best to discuss the deal with her or him. Ideally before pushing the domain. Partically discussing reversing the account change in the event of non-payment. If you don’t have a rep, reach out to the registrar and ask for one. Personally I have a good relationship with my rep(s) at GoDaddy. Deal with him a lot regarding transfers, renewals, and the aftermarket. I also have a rep at Uni but don’t interact much yet as most domains I have are with GD.

    Lastly, it is important to have a legal agreement that clearly outlines the responsibilities and time-frames of both parties. So this could be used as proof and possible legal action.

    The longer you wait the less likely it will be to reverse an account change in the event of non-payment. But hopefully this will be the last resort and the buyer will pay. Don’t want to cause you to panic unnecessarily. If the buyer has a legit business it may be just that she or he is occupied with that biz. Running a business has many moving parts and will put anything else lower down the list. Keep reaching out to the buyer and reminding them. Many end users don’t understand how quick and easy it is to pay for domains and start using them. They need to be educated.

    Hope all works out.

    PS. Always act professional in your emails and/or calls. Don’t berate and don’t raise your voice.
     
    Last edited: Oct 28, 2018
  14. BrandKart

    BrandKart Pick the right name with us ! VIP

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    Iam sure this buyer won't pay, with all his negative reviews , I feel there is no ethic , I give up
     
  15. Jay Ha

    Jay Ha Exploring..

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    It is weekend mate. Wait till end of Monday.
     
  16. j2tuff911

    j2tuff911 TheDomainBaron Gold Account VIP

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    This is absolutely NOT a normal practice! There are sayings like..."You got the money I got the stuff", "you pay before you play." You pay everyone before you own your purchase this is how it works with every business. Take my "I got the money you got the stuff" to an extreme even drug dealers know get the money then you get the stuff. Next pay before you play, kinda works for multiple industries, let's just take carnivals, arcades even fair and festivals I can go on and on you go to a booth or a counter or register pay for your tickets or pre-loaded card and then you have access to all the games, entertainment you want.
    I understand you wanted to give him the benefit of the doubt and maybe you were over anxious to close the sale, but the reality is if you dont have a past business relationship with him there is absolutely no reason you should have pushed before he payed. Period! End of story! But this is why we live and learn, I hope everyone has learned from this! You have what they want...so like any smart business(man) get paid then let them play!
     
    Last edited: Oct 28, 2018
  17. E-Promote

    E-Promote Top Member VIP ★★★★★★★★★★

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    You said it yourself.
     
  18. xynames

    xynames XYNames.com PRO VIP

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    Not the way it works. Not worth a try under the circumstances of this situation.

    From PP’s point of view this is nothing more than a money request.
     
    Last edited: Oct 28, 2018
  19. lennco

    lennco Top Member VIP ★★★★★★★★★★

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    Never ever transfer domain without payment.
     
  20. Rick Ace

    Rick Ace Top Member VIP

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    I wouldn't say that. You don't know what the seller is going through in life. Life can throw curve balls at you. Sometimes, $270 is what you need to buy groceries or renew your most valuable domains. Not every domainer is also wealthy. It's hard work,more work than investing in many other areas, though most people don't realize that.
     
  21. domeen

    domeen Top Member VIP

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    If $270 is that improtant, then don´t push up front!!
     
  22. BrandKart

    BrandKart Pick the right name with us ! VIP

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    No reply or payment yet...IAM sure he won't pay ignore and move one
     
  23. nothere

    nothere Established Member

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    Really? A debt collector from Germany will chase a $200 debt in California for $20 fee? Debt in USA is sold for pennies on the dollar and that's local /USA debt.
     
  24. NameDeck

    NameDeck Design. Develop. Deploy. VIP

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    Dunno about $200. I only needed to 'force' someone from the US to pay a couple of times and that was for something like 2.k.

    I could look it up but I'm certain I've never payed over 10%. Would happily pay up to 50% though. Just to deliver the message.

    Within Europe chasing someone for amounts like $100 has never been an issue so far. I'd imagine it's not the small 'reward' that makes it profitable for the debt collector but rather the volume of debts they collect.
     
  25. BrandKart

    BrandKart Pick the right name with us ! VIP

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    K this guy is super smart , I asked him my payment in Google review but he deleted it..
     

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