strategy Selling domain names - Answering emails

[heavend]

I have a question which always comes up (I am certain everyone in this industry receives these kind of questions a lot) - for me - about two-three times a week or so for the past 20 years, and I have never found an ideal answer, in fact i have never found even a good answer, even through I answered 1000s of similar emails. I was hoping someone may shed some light on this.

So, it always starts the same way - an email arrives regarding some domain name:

Hello,

I would like to purchase somedomain.someextension for a new project. (for new business, or without a for)
I found your contact information in a domain whois.
Are you selling the name and how much?

Best Regards,
Mr. X

*****************************************************

There are 2 kind of answers. One is quick and painless, but usually doesn't produce best results.
#1
Hello Mr. X

The domain name: somedomain.someextension is available for sale. If you are serious please let us know your offering price.

Thank you,
Your Name here

Second option is as follows, also quick - need a little more time, but also doesn't produce great results:
#2
Hello Mr. X

The domain name: somedomain.someextension is available for sale. Our current asking price is $X,XXX (can be any number here - higher then you think the domain is worth or lower). If you are serious please let me know,

Thank you,
Your Name here

*****************************************************

The problem is - when you receive the original letter most of the time it is written very much anonymously - so usually you have no idea if the buyer
is end user or re-seller, what is their budget, if there even a budget, etc. You have some fake/one time use @gmail.com and most of the time fake name.
Normally you get one chance to answer and if you happen to guess wrong, the sale is over most of the time.

It seems like using the first option produces more smaller sales, but at least when the person answers back with an offer you know if they are serious about purchasing the domain, or they just fishing. However when you use the first option (without a price) you appear less professional, therefore the chances of the big sale is decreased.

I am looking for possible ideas of the third option.

Now I am assuming here we have no idea about the budget, real name, email, etc (like it is in %80-%90 cases). In fact these days the email is written in other languages, but there is always good translator, so that is not an issue.

In either case - anyone have some ideas - please share them if you wish.

All best,
Alex Kogan
HeavenDomains.com

 

[biggie]

3. don't reply at all

 

[inforg]

Since I price most of my domains with a buy it now price, I respond with:

Thank you for your interest. This domain is for sale and can be purchased securely at:

LINK TO MARKETPLACE

Any questions, please let me know.

If they are serious they will buy it or email me back to try and negotiate the price. I really think domainers would do better knowing what a name is worth or what they want for it and just give a price. I hate dealing with sellers that have no clue what to charge and play the make me an offer game- my first offer is always going to be low if you force me to make it.

 

[MisterSoft.com]

If and when you receive an email query, do reply that email with reasonable price quotes. Never underestimate any potential buyer and his/her email. You never know. You do your job and move on. If the buyer is serious, he/she would respond promptly. If you don't get a response and/or desperate to sell your domain, give them a friendly email stating that you already replied to them and that you are emailing again because most emails end up in the spam/junk box.
As far as the pricing is concerned, I always check the domain's particulars such as how many extension are already registered and traffic stats etc.
ONCE AIGAIN THERE IS NO "MAGIC BULLET" FORMULA AS SUCH TO YOUR QUESTION!

 

[heavend]

3. don't reply at all

Thank you for your reply,

But please advise as to how the option #3 helps you in this business. I mean of course, you don' have to reply. But imo - that is the same thing as saying, well, why get up in the morning, when you can stay in bed?
We are in business of selling domain names - and that is the reason for such discussions - to figure out the ideal answer to similar emails we all receive on daily basis. (or close to ideal)

In the same time, if the domain name is not for sale - (for example you are holding it for some other purpose) than I find it easier to reply that domain name is not for sale rather then have them bother you with their letters over and over again.

I also tend to move the domain names which are not for sale to a different accounts, so they dont' come up with certain queries people run when they are looking for domains.

 

[heavend]

Since I price most of my domains with a buy it now price, I respond with:

Thank you for your interest. This domain is for sale and can be purchased securely at:

LINK TO MARKETPLACE

Any questions, please let me know.

If they are serious they will buy it or email me back to try and negotiate the price. I really think domainers would do better knowing what a name is worth or what they want for it and just give a price. I hate dealing with sellers that have no clue what to charge and play the make me an offer game- my first offer is always going to be low if you force me to make it.

I like this idea - but of course you loose 10 % usually to the Marketplace as a fee they charge - for example if it's sedo.com, but definitely makes you look more professional.

 

[inforg]

I like this idea - but of course you loose 10 % usually to the Marketplace as a fee they charge - for example if it's sedo.com, but definitely makes you look more professional.

You just have to set your BIN prices to account for the commission. I don't mind paying 10% or even 20% on an end user sale at my BIN price.

 

[80-20]

If you are serious

Why are you asking if they are serious?
It's like implying that they are kids/jerks, etc. hell bent on wasting your time.
It smacks of used car salesman's pitch...

 

[biggie]

Thank you for your reply,

But please advise as to how the option #3 helps you in this business. I mean of course, you don' have to reply. But imo - that is the same thing as saying, well, why get up in the morning, when you can stay in bed?
We are in business of selling domain names - and that is the reason for such discussions - to figure out the ideal answer to similar emails we all receive on daily basis. (or close to ideal)

In the same time, if the domain name is not for sale - (for example you are holding it for some other purpose) than I find it easier to reply that domain name is not for sale rather then have them bother you with their letters over and over again.

Hi

for some domainers and for some names in a portfolio, one "may not have to sell" any of their names or that specific domain, to stay in business..... so maybe they won't get out of bed today.

this is particularly true for portfolio's that make money, while the owners sleep

so, to not answer, can send a message as well.
as they (the sender) may interpret a no response as, "maybe if i send a dollar amount, or increase the amount of a previous offer, then perhaps they will respond."

the domain may be for sale, but the inquirer will have to change tactics to get the attention of the seller.

imo....

 

[heavend]

Why are you asking if they are serious?
It's like implying that they are kids/jerks, etc. hell bent on wasting your time.
It smacks of used car salesman's pitch...

Thank you for replying. The reason to ask if they are serious is to avoid getting tons of $50 offers on $10,000 domains. You simply have no time to read all of them, and yes, for some reason there are a lot of people in this industry who are basically wasting theirs and your time.

A good example would be - I own and trade a lot of NNN domains. While I enjoy reading 1000s of emails/ week, if I don't include a simple "serious" tag - people would make a lot of random offers, which of course you can ignore, but only once you read them. Now, if you have to spend 15 seconds opening up each $50 "offer" on something which is clearly is much more expensive, you basically wasting your time. Plus, these answers are translated into Chinese anyways most of the time, so by the time the word "serious" is translated it sounds better then in English "car salesman pitch" - imo But of course, I can be wrong, and that is the reason why I created this thread - to learn from your suggestions.

Thank you.

 

[heavend]

Hi

for some domainers and for some names in a portfolio, one "may not have to sell" any of their names or that specific domain, to stay in business..... so maybe they won't get out of bed today.

this is particularly true for portfolio's that make money, while the owners sleep

so, to not answer, can send a message as well.
as they (the sender) may interpret a no response as, "maybe if i send a dollar amount, or increase the amount of a previous offer, then perhaps they will respond."

the domain may be for sale, but the inquirer will have to change tactics to get the attention of the seller.

imo....

Thank you. Yes, I completely agree, as I mentioned before about one/two domain names which you are holding on for whatever reason, maybe for a project, or maybe just waiting for the right price to come along. This is fine, but my original question is about basic, everyday business-kind of domains. So, I am not talking about some $50,000 + transactions you would do with the help of the broker for the domain names which you know are worth the money and the wait. I am talking here about everyday domain names - names, which worth money, but not worth holding on to as retirement fund.

A realistic situation: You spent $500, maybe up to $1,000 or so and trying to sell now this domains for decent profit, which is still somewhere under $10,000 most of the time. I think for most domainers - this is where the meat of this business is. If you are selling much higher - then you most likely need help of some brokers, and then you simply refer to them and don't have to think about it.

If you dont' mind, please share the experience, where you were waiting, didnt' reply at all and then closed a decent sale out of this?

 

[biggie]

Thank you. Yes, I completely agree, as I mentioned before about one/two domain names which you are holding on for whatever reason, maybe for a project, or maybe just waiting for the right price to come along. This is fine, but my original question is about basic, everyday business-kind of domains. So, I am not talking about some $50,000 + transactions you would do with the help of the broker for the domain names which you know are worth the money and the wait. I am talking here about everyday domain names - names, which worth money, but not worth holding on to as retirement fund.

A realistic situation: You spent $500, maybe up to $1,000 or so and trying to sell now this domains for decent profit, which is still somewhere under $10,000 most of the time. I think for most domainers - this is where the meat of this business is. If you are selling much higher - then you most likely need help of some brokers, and then you simply refer to them and don't have to think about it.

If you dont' mind, please share the experience, where you were waiting, didnt' reply at all and then closed a decent sale out of this?

Hi

you make assumptions that a broker is needed to sell a domain at or above $50K...don't presume, and it will change your perspective about the roi's one can achieve on their own.

now, what is a "basic, everyday business domain"?
and please explain a domain that is "worth money, but not worth holding on to as a retirement fund"?

because from an investors perspective, every domain, should be seen as part of the retirement fund.

though if you got "flipper mentality", you won't see it that way.

as for holding names, i've held plain old 3 character .com for 10 yrs, before selling in $,$$$ range, when i could have sold years earlier, or yesterday.... for much lower.

imo....

 

[johname]

I dont like the "If you are serious" you put in both 1 and 2

Its just all around bad. Tells the other party multiple negatives.

I would always reply to first anonymous email. (there some instances where you know you are dealing with a domainer mass fishing for cheap domains, these are ok to ignore)

It would be the buyer's second email that would be the most effective 'walk away' from negotiations'

 

[heavend]

Hi

you make assumptions that a broker is needed to sell a domain at or above $50K...don't presume, and it will change your perspective about the roi's one can achieve on their own.

now, what is a "basic, everyday business domain"?
and please explain a domain that is "worth money, but not worth holding on to as a retirement fund"?

because from an investors perspective, every domain, should be seen as part of the retirement fund.

though if you got "flipper mentality", you won't see it that way.

as for holding names, i've held plain old 3 character .com for 10 yrs, before selling in $,$$$ range, when i could have sold years earlier, or yesterday.... for much lower.

imo....

The point of this discussion is not to argue which "mentality" is best or if we should or should not hold the domains for our retirement fund. The point is to create some sort of better way of dealing with everyday emails which come in.
But of course, I can answer in details, if you wish.
1. Yes, I believe you need a broker when you are selling something worth while, and you will do better with a broker. I, myself have sold a few domain names for over $100,000 / transaction (examples of my sales are: 229.com, 987.com, 615.com, 685.com, 9999.com, 2014.com, 41.net and many other similar names...), however it is very possible that I would have done much better with a broker. (I would definitely benefit from waiting longer for a better offers and / or consulting with professional broker at the time of the sale) It's very similar to selling a house. Can you sell without a broker - yes, possibly, but you will get more exposure and better deal with one. Now, will it work 100 % of the time - no, but I am not talking about one-offs deals here. I am talking about main stream, basic - everyday sales, which brings us to:
2. Domain, which is worth money, but not worth holding on as retirement fund. Most names fall within this category. There are very few domain names which are worth renewing blindly for 20-30 years (or so) to assume they will go up in price and you will be able to sell them easily. They are typically short, one word .coms, maybe some short number domains (NN, NNN, NNNNs), again .coms and possibly .nets. Also possibly a very few rare combinations of two words. That is about it. The majority falls within the category of "bought for cheap - sold for more" or registered and sold. Also a lot of domain names fall within a category of registered or purchased cheaply just to hold for a few years, not close any deals and forced to drop within a few years.
3. I actually dont' have a flipper mentality and most of my domains are being purchased for long term investment, however I realize now that it's maybe a mistake mentality as I spent way too much on renewals which of course effecting the bottom line.

Thank you all for replying and best of luck to you in your business ventures

 

[DomainingNames]

I have been Domaining 11 years and spent over $250,000 dollars doing so...fact is most people inquiring are just that》》》》》kids...trust a long time domainer...people don't know what they are doing and will waste your time doing so...I take no inquiry serious...serious is the thousands of names I own not some loser hoping he can scrape 900 dollars together and B.S. you the entire time!!!

 

[DomainingNames]

And also speaking of kids....if all it takes is saying "if you are serious" to scare them off....please people that is a joke in itself. If I get an inquiry I assume the person is responsible for his own brain activity or lack of....so a phrase like if you are serious》》》》 what would be my reply ? Yes I am serious about owning your domain and want to come to an agreement toward purchase. That is the responsible adult response...the other is something a child would get upset over...besides folks have to make it a game...that what's childish!!!

 

[heavend]

And also speaking of kids....if all it takes is saying "if you are serious" to scare them off....please people that is a joke in itself. If I get an inquiry I assume the person is responsible for his own brain activity or lack of....so a phrase like if you are serious》》》》 what would be my reply ? Yes I am serious about owning your domain and want to come to an agreement toward purchase. That is the responsible adult response...the other is something a child would get upset over...besides folks have to make it a game...that what's childish!!!

The reason I sometimes use the phrase, " if you are serious" - is to make sure person thinks before making an offer. I don't need some kids replying and I don't need them to waste my time. that is all.
if the domain is NNN.com for example., I don't need a person to write me $1000 offer, so I say right away that if you are serious - please submit an offer, otherwise dont' bother.

An example where it works in real life. You are selling something for whatever reason via private sale. You dont' want to waste your time showing this item forever to everyone who asks, therefore you ask on the phone - if the person is serious. You explain that the item cost this much $. and you would love to show it to the person if they are serious. I dont' think there is anything wrong with that as normally, the world divided into two. People who want to buy and people who want to waste your time and tire kick all day long...

I personally dont' have time to read through 350 emails / day all loaded with inquires from tire kickers....

 

[DomainingNames]

Amen brother. I'm upfront I say "I can't afford" or I'll pass...I never jerk others around. I always hope the kind route is remembered! People who tire kick make it into a game and quite honestly cause it to end up being a pissing match and the domain name and it's ability is long lost...yet if you have a serious buyer (not in amount to spend but how fairly you are treated) then there's a great chance there will be a sale and everybody smiles!

 

[Dorkside]

The reason to ask if they are serious is to avoid getting tons of $50 offers on $10,000 domains.

There are also a lot of domain owners who are convinced their $50 (or less) name is worth $10,000.

Plenty of unreasonableness to go around when it comes to buyers and sellers.

 

[DomainingNames]

There are also a lot of domain owners who are convinced their $50 (or less) name is worth $10,000.

Plenty of unreasonableness to go around when it comes to buyers and sellers.

Sure to that but too many potential buyers think they are in the driving seat....buyers are never in the drivers seat unless you leave the door open...or your domain is everyday yada

 

[heavend]

Amen brother. I'm upfront I say "I can't afford" or I'll pass...I never jerk others around. I always hope the kind route is remembered! People who tire kick make it into a game and quite honestly cause it to end up being a pissing match and the domain name and it's ability is long lost...yet if you have a serious buyer (not in amount to spend but how fairly you are treated) then there's a great chance there will be a sale and everybody smiles!

The main issue, I found is, out of the huge number of emails - I have to be able to fish out that one serious end user at any given time. It maybe in the junk box originally, it may not even have a word of english (happens a lot with numerics and china), but somehow i need to be able to cut through the other people's bs to get to this guy and answer his email in timely fashion, since guess what - people may think their domain names are unique properties, but they are not. The ones which are unique go through brokers (as we discussed above, huge transactions, many 0s) all the others, every day transactions - people have choices. Everyone's budget is a bit different, but time is almost always an issue. Serious buyer would not be standing around and waiting for me to go through the tire kickers - and hopefully fish him out... - he has options and he will move on. I have seen it myself as well, when i was buying.

Sometimes I need to spend $50,000 in a week on domains. I have no options. I need to have different game plans and cannot spend a long time on someone who doesnt' answer, so I move on.

Thank you all for your contribution - be well,
Alex

 

[heavend]

There are also a lot of domain owners who are convinced their $50 (or less) name is worth $10,000.

Plenty of unreasonableness to go around when it comes to buyers and sellers.

Also true, but then you simply move on. There is rarely an issue in this case. In other words, if you are the buyer and think the name worth $50 - you can simply make this offer. If I am the seller and think it's $10,000 - we have nothing to talk about, as we never reach common grounds.

When I write as a seller, I usually add to "make an offer if you are serious" something like this:

We consider this domain name to be valued around XX,XXX, or we would consider a serious offer between X,XXX and X,XXX, and such and such.

This way - they know what you mean and you both are on the same page. So situation with 50 vs 10,000 rarely come up.

On the other hand - I find that a lot of people know the name is valued at $10,000, but still offer $50. That is a waste of time and so far I havent' found a good solution to dealing with it....

 

[DomainingNames]

I sometimes will say if you owned this domain would you sell it to me at this moment for what you are asking me to sell it to you for? The feeling afterword can go either way

 

[heavend]

yeah, I found this worked both ways - most of the time - you dont' end up with a sale

 

[sittingducks]

There is a new domain sherpa about this. The seller said he would just pick up the phone and call. http://www.domainsherpa.com/george-adu-customer-focus/

If you manage to extract more information then you know how serious the buyer is, how much he is willing to pay which is quite vital if you want to gain best results