Sedo sellers: What do you feel about Sedo.com's holding time on negotiation comments?

[tomcarl]

I believe it's important to justify a counter-offer with a short message. Good reasoning increases the likelihood of a sale compared to countering with a higher number only.

I've recently parked some of my domains with Sedo to give their platform a try again and soon realized one of the reasons I stopped using them years ago was the holding time on negotiation comments.

I understand this is likely a security measure to crack down on commission-evaders but I believe it's doing everyone more harm than good.

Most people in sales would tell you that timing is a crucial factor for successful outcomes in negotiations and when you negotiation is just as important as how you negotiate.

While trying to save their commission by reviewing all comments in real-time or worse, 1 business day like shown above, they are possibly losing commission by losing sales.

1-business day can mean a world of difference in compulsive purchases, it's enough time for someone to talk themselves into something or vice-versa.

Sedo does a great job conveying themselves to be a trusted domain sales platform which is why I took the time to write this and would like to them re-think this strategy.

If I had to give a quick idea. I believe it would be just as effective to manually verify only flagged messages that contain certain web addresses or email references, create a trusted-seller exemption request, etc.

Have you ever felt you could lose a sale because the buyer seen a number without seeing the explanation? Do you feel you would do better by not having your negotiation comments held?

Share your thoughts. Better yet, share them with Sedo: [email protected]

 

[Ategy]

If I had to give a quick idea. I believe it would be just as effective to manually verify only flagged messages that contain certain web addresses or email references, create a trusted-seller exemption request, etc.

I'm not saying you're wrong or right about your frustrations .. but there are countless ways to work around the filters you're talking about. People could simply write: "Contact me directly on facebook or linked in, my name is firstname lastname in cityname".

1- Maybe a fairer solution would be to let users with past sales have their comments be post filtered if a staff member is unable to check it within an hour (or whatever time period far less than 24 hours). Meaning that while I understand their concerns for people just coming in for one sale or potential cheaters who could use multiple accounts, they could take a leap of faith to existing customer who have already proven they've used the system fairly.

2- Another partial solution is to allow users to save custom responses. Not perfect solution, but I'm guessing those with larger portfolios often find themselves repeating themselves. If you were allowed to use a previously approved response it might help a bit.


I think communication is one reason Flippa grew and distinguished themselves, as not only did they allow open comments, but also a super long product description that could cover a lot of the potential buyer's concerns and questions.

 

[MasterOfMyDomains]

I am waiting on comment from offer. Been about 30 minutes now, last time they started talking about estibot value, anyways I will see how long it takes.

 

[Cdomains]

I believe it's important to justify a counter-offer with a short message. Good reasoning increases the likelihood of a sale compared to countering with a higher number only.

I've recently parked some of my domains with Sedo to give their platform a try again and soon realized one of the reasons I stopped using them years ago was the holding time on negotiation comments.

I understand this is likely a security measure to crack down on commission-evaders but I believe it's doing everyone more harm than good.

Most people in sales would tell you that timing is a crucial factor for successful outcomes in negotiations and when you negotiation is just as important as how you negotiate.

While trying to save their commission by reviewing all comments in real-time or worse, 1 business day like shown above, they are possibly losing commission by losing sales.

1-business day can mean a world of difference in compulsive purchases, it's enough time for someone to talk themselves into something or vice-versa.

Sedo does a great job conveying themselves to be a trusted domain sales platform which is why I took the time to write this and would like to them re-think this strategy.

If I had to give a quick idea. I believe it would be just as effective to manually verify only flagged messages that contain certain web addresses or email references, create a trusted-seller exemption request, etc.

Have you ever felt you could lose a sale because the buyer seen a number without seeing the explanation? Do you feel you would do better by not having your negotiation comments held?

Share your thoughts. Better yet, share them with Sedo: [email protected]

Interesting, I never bothered to add a comment.

I just give the counter offer.

 

[MasterOfMyDomains]

There are a few generic comments that sedo has approved in option B
Still waiting to see this person's comment, so sedo can hose me $60

 

[LucidDomains]

The most annoying thing I found with this, is the offer goes through to them but the comment is stuck in review.

So they see the offer without the message which is stupid.

The offer should be put on hold and submitted when the comment is approved at the same time.

 

[MasterOfMyDomains]

I am still on waiting. Like you said, I can see the offer I received, but not the comment.

displayed within 24 hours (up to 48 hours on weekends).

Almost Saturday over there.

 

[MasterOfMyDomains]

Comment just received, so approval took 5 hours

 

[tomcarl]

Well, my buyer's comment was just approved and I just read it a few minutes ago.

Their comment was made 12/1/2016 in the afternoon and it just was approved today 12/2 around 7pm est. And here is a snippet from their comment:

"My final offer is ****, and will be valid until the end of the business day on Friday, 12/2 @ 5pm EST. Looking forward to hearing from you soon!"

And I have screenshots. This is exactly what I'm talking about.

Now, let's see how this plays out.

 

[LucidDomains]

@Sedo, please address these issues.

 

[MasterOfMyDomains]

Aren't all offers valid for 7 days? Regardless of what he writes as a comment.

 

[ZapNano]

Aren't all offers valid for 7 days? Regardless of what he writes as a comment.

If it is, it is not a good idea for both parties.
A.) why? Because money shouldn't wait that long.
2.) why? Offers shouldn't stop when you get one offer.
B.) why? guidelines, such as time frame should be set. To avoid abuse and scum for both parties.

 

[MasterOfMyDomains]

From Sedo
Please note that any bid made on a domain name is binding for 7 days; therefore, a given offer is valid for 7 days and is considered a binding sales offer. Within this period, the buyer is not able to lower his bid; likewise, the seller is unable to raise his offer.

Should either party accept an offer, the contract is considered closed - a sales and purchase agreement has been made.

Example 1: the interested party makes an offer of 500 EUR on 01/01 at 13:40 PM. The seller is able to accept this offer until 08/01 at 13:40 PM - on acceptance, a contract would then be made.

Should a counter-offer be made to a previously valid offer, the previous offer is then released from the 7 day commitment.

Example 2: The interested party makes an offer of 500 EUR on 01/01 at 13:40 PM. On 03/01 at 15:20 PM, the seller turns the offer down and asks for 1,000 EUR. The offer made by the buyer is no longer valid. The counter offer is therefore valid until 10/01 at 15:20 PM - provided the buyer doesn't make any further counter offers.

Please note : within 5 days of reaching an agreement, the seller has the opportunity to start an auction based on the buyer's latest offer. Other interested parties then also have the opportunity to bid on and acquire the domain through the auction process. The buyer's original offer remains binding. Should no higher offer be received during the auction then the domain is automatically sold to the original buyer.

The wait time for the comment with the offer that was held in Q for 5 hours, has given me time to do some checking and research. And they want $60
I have 7 days to think some more

 

[TDM]

IMO a nice way to reduce approval load from people's at sedo and engage sellers to not circumvent fees is

to give trusted seller some sort of privileges, and remove those fast if needed.

Privilege could be a special badge (boost conversion + trust)
or somehow reduced fees (as labour is less)





ohh
and of course if comments are waiting for review.. the counter offer amount should come at same time as the comment.

 

[ZapNano]

On eBay:

Auction type= has it own set of rules and guidelines.
Buy it now type= has its own rules etc.
Make an offer type= has its own rules etc.

You don't pay listing fees. eBay always encourage buyer and seller to communicate. When issue can not be resolve by both parties, eBay rules and policy will then kicks in.

 

[ZapNano]

What's "under review" ?

 

[TDM]

meant approval

 

[ZapNano]

meant approval

From who?

 

[Optimal Names]

I've never liked the wait but I do understand it is there for reasons Sedo feels are valid. I agree 100% that it can potentially harm the negotiations. I've always noticed this from way back in 2004 when I started selling on Afternic. A lot of places try to fit the domain business into a neat 40 hour Mon-Fri week. But domains are a 24/7/365 business.

@TDM has a good idea where trusted sellers/buyers can have their communications real-time. Perhaps Sedo can apply monetary penalties if the rules are not followed.

 

[TDM]

then every once in a while your communication could be overseen... if anything like this is found

bob name at gmail com
or
call me one one five ..


that exclusive badge or fee reduction or whatever is revoked. Guilty. Start from scratch.


Over time they could encourage sellers to help them making more commission and reduce workload.