poll Sold name at first offer.. do you sell at first offer usually or not?

[alcy]

I told myself to try not to sell at first offer.. but then at same time, I had more than one disappointing occasion where I countered and never heard from buyer... even after reducing my counter a few times (sometimes even going down to his original offer lol... and still no reply!).......

I guess it can go either way..... done is done I guess... of course, I also evaluate countering or not by name itself.. its potential value... and definitely extension too.. so given this is .biz... I suppose many will agree I should not have countered... and then some will probably say I should have countered... seeing on sedo the buyer regged there only in 2018... and had no buy activity bars showing... did help me decide too.

so anyway.. the name is below... and I thought I'd make a nice poll out of it too while im at it...

block group
..biz

800$.....6 months old handreg.....sedo offer.

 

[alcy]

I think much of this thread is about incoming emails or landing page contact form submissions. Or at least that’s what I’m talking about - situations where you may engage without having to throw out a number.

Even on for example Afternic if you have an assigned broker there are ways to engage via your broker.

yes your all more than welcome to discuss all type landers... I was just making it clear that in my particular sale case.. which was sedo.. there is no such thing as engaging buyer without counteroffer and thus discarding his first offer at same time... and no such thign as buyer going down on his first offer price, after I accept it

 

[Smiles76]

You're in an industry with a 2% sale thru rate. As long as you're making a nice ROI and not losing money, sale the domain. It's silly to waste time and money hoping for something better. 98% of domains will never sell. When you get a nice offer, take it!

 

[alcy]

@alcy - nice sale!

Last year I tested what will happen if I immediately accept the initial offer. Four times I accepted and at the end I was not able to sell at all. I have over 20 years experience in marketing and sales and decided similar to @xynames advice to engage in future inquiries with the buyer to get a better picture about the buyer intentions and to get as much infos as possible. At the end their should be a deal if possible.

ty
p.s. were you failed sales on undeveloped by chance?

I definitely find there are markets were payment failure rates (whether first offers or later offers accepted) are greater than on other markets... I guess there are just more serious buyers frequenting the bigger older markets like sedo.. gd.. etc..

 

[1Darko]

ty
p.s. were you failed sales on undeveloped by chance?

I definitely find there are markets were failure rates (whether first offers or later offers accepted) are greater than on other markets... I guess there are just more serious buyers frequenting the bigger older markets like sedo.. gd.. etc..

Yes, but I had also 2 offers on bodis lander which I imported to uneveloped and failed at the end to get paid.

 

[alcy]

Yes, but I had also 2 offers on bodis lander which I imported to uneveloped and failed at the end to get paid.

yeah... bodis sale inquiries are even less binding to most buyers minds than undeveloped.

there is a huge failure rate at undeveloped... I think they just get buyers from various countries which are not so serious (no names)...

but that doesn't speak poorly of undeveloped of course.. its just not yet where sedo or gd auctions are. I had very small failure rate at gd ... and even much smaller at sedo.

 

[1Darko]

since gdpr things went down the drain for verifications
as I have domains across various registrars and it messes things up for txt records for me
.. cause some registrars do not offer bulk changes... others won't let you change txt record unless I point dns to their defaut servers.. etc..

so I do not use records at all to verify.

for gd auctions I now go through afternic (which means those lame price requests emails each time someone makes offer thjrough gd auctions)... and for sedo, I change nameservers to sedo park for 24h.. and its all verified. then I change back.

Thanks - I thought the same for myself to switch the nameservers to sedo for some time - it's very anoying this verification. (thanks for off topic answer)
At Afternic I mainly use BIN and I like that they only inform me about the sale after they collected the payment. So there shouldn't be any negative surprises afterwards.

 

[900Worldwide]

Nice sell @alcy.

 

[Deepak Bhandari]

Nice deal

 

[NYJimbo]

I love inbound offers in this you are at upper hand ...

Yeah, but not always. I had an inbound last month. I countered higher, he went up a tiny bit but no higher. I came back lower after a while, he then offered even lower. I rejected that, then he offered even lower. Basically once he saw me approach his offer, he started countering lower. I wasnt going to play that game, but he never went back up to his original high offer. I just rejected him after all that. So you never know whats going to happen.

 

[mawels]

I always counter an offer ,I think they have more budget than the initial offer.

Ps. Sometime I will sold at first offer if the domain I really don't want to renew it.

 

[Haykay2005]

Always counter

 

[alcy]

that's a solid price for a .biz sale, im surprised by it in fact. congrats

thanks... well i think the general idea is that any 2 word biz sale is a nice and rare suprise imo... i mean with so many nice 1word biz dropping daily..taken in many extensions.. and people dont even bother to rereg those..

cheers

 

[xynames]

If buyer really wants it he will come back to you. For example on a domain of mine I received a low offer I countered at 21x higher than the low offer.

Weeks later I got an email saying that they’d offered a certain amount (which was just about 9% below my counter) and would I accept it.

I answered honestly that I had somehow missed their email, accepted the offer, we went into escrow with buyer paying all fees and escrow closed just fine.

Point being that if a buyer wants a domain he will chase you to close the deal. I should have responded to that email but whether it ended up in my spam or I missed it in my inbox or maybe buyer forgot to click Send I didn’t see it.


*Over all I’ve been a little more giving with my acceptances lately. If the offer is within about 10% of my full asking price I don’t counter I just accept it. Or if their second offer after my counter is within 20% of my asking price I sometimes lately go for that too. No hard and fast formula just saying that lately I don’t push for every penny of my asking price.

For a two word biz like that one I think that’s all the money. The block is only reason it sold at all probably something to do with block chain?

 

[alcy]

This is true. Even buyers play these games. If you accept the first offer, they will assume they can work their way down on the price because you were so eager to accept the first offer they made.

Even if you're happy with the first offer, you counter. It's psychology. In most cases, this is the way. Out of hundreds of deals, I can only think of a handful of deals where I lost deals because I countered. You have more to lose if you're giving away the upperhand. Further, you can still make a deal even if they don't like your counter. But your goal is to start high and go down, not start at the middle and then end up too low.

well this applies only for direct inbound email offers or non binding sale landers etc..

once your buyer accepts your offer on sedo.. or other similar markets... what you say about working his way down on the price no longer applies. but you do make good point about non binding inquiry leads... for those sky is the limit and anything can go... thats like a whole different ballgame... cause buyers are also aware its much less binding for them to just be exchanging offers by email.. whereas sedo offers.. gd.. etc... feel differently to buyer. plus they just can't go down if you accept their first offer period.

 

[alcy]

If you wish to accept the initial offer you may do so by engaging them then later accepting. This is a little beyond simple Negotiations 101.

u can't engage buyer on sedo. unless your msg comes with a counter. so once you do that you won't be able to accept his original offer after.... thats like beyond simple sedo 101 hehe

you can do this on gd though... where everything is binding 7 days.. no matter how many counters u or buyer makes.

 

[xynames]

I think much of this thread is about incoming emails or landing page contact form submissions. Or at least that’s what I’m talking about - situations where you may engage without having to throw out a number.

Even on for example Afternic if you have an assigned broker there are ways to engage via your broker.

 

[1Darko]

yeah... bodis sale inquiries are even less binding to most buyers minds than undeveloped.

there is a huge failure rate at undeveloped... I think they just get buyers from various countries which are not so serious (no names)...

but that doesn't speak poorly of undeveloped of course.. its just not yet where sedo or gd auctions are. I had very small failure rate at gd ... and even much smaller at sedo.

What kind of owner verification do you use at Sedo when you list your domains there? What works the best for you? I have probably over 50 names in need to verify.

 

[Jv1999]

I told myself to try not to sell at first offer.. but then at same time, I had more than one disappointing occasion where I countered and never heard from buyer... even after reducing my counter a few times (sometimes even going down to his original offer lol... and still no reply!).......

I guess it can go either way..... done is done I guess... of course, I also evaluate countering or not by name itself.. its potential value... and definitely extension too.. so given this is .biz... I suppose many will agree I should not have countered... and then some will probably say I should have countered... seeing on sedo the buyer regged there only in 2018... and had no buy activity bars showing... did help me decide too.

so anyway.. the name is below... and I thought I'd make a nice poll out of it too while im at it...

block group
..biz

800$.....6 months old handreg.....sedo offer.

$800 for a TWO WORD biz is money u should take and never regret.

Well, I regret the sedo commission in that case tho

 

[Haykay2005]

Is that learned through personal experience or just another regurgitated opinion which you now claim as your own?

Experience if you care to know .

 

[dande]

As to the original question, usually I decline all offers, with no counter. Serious buyer always makes another offer after a few weeks, then another offer, then another.

That's a very bad sales strategy, no matter how good you think your domains are. It is rude, it is arrogant, it is everything I hate in sales. How exactly sure are you that a serious buyer will always hang around one domain, making offers upon offers, without getting responses? I don't think so.

I have made offers in domains with serious intentions to buy but walked away because the owner refused to reply to my offers. And those offers were end user offers that would have resulted to sales.

You are simply losing sales and money, no matter how well you think this strategy works for you.

#MHO

 

[poweredbyme]

That's a very bad sales strategy, no matter how good you think your domains are. It is rude, it is arrogant, it is everything I hate in sales. How exactly sure are you that a serious buyer will always hang around one domain, making offers upon offers, without getting responses? I don't think so.

I have made offers in domains with serious intentions to buy but walked away because the owner refused to reply to my offers. And those offers were end user offers that would have resulted to sales.

You are simply losing sales and money, no matter how well you think this strategy works for you.

#MHO

Make offer means make offer. If you counter, it turns into BIN. If you have a BIN in your mind, always set a BIN.

Arrogance is not intended by declining offers with no explanation and is a selected perception for those who feel so.
As a seller, I may be offended for a low ball offer may find the offer arrogant and rude. But it would be my personal selected perception. Maybe that person doesn't have enough money to pay the price I may accept.

If seller declines offer it means the asking price is higher. The same person can always make offers until the offer is accepted. Nothing prevents someone to make offers repeatedly until forever. Nobody can be punished for this.

Seller is not obligated to provide explanations or to make counter offer. Because counter offer reveals the BIN while the buyer is free to decline counter offer. Most offers are made to know the BIN, not to buy. If someone knows the BIN without a guaranteed payment, what is the purpose of "make offer"? If you think knowing the BIN price by 1 person speeds up the sale, setting a public BIN would let thousands of people know the BIN, not only 1 person who made the offer. If the main purpose is to speed up the sale "make offer" is the slowest option. If seller chooses "make offer" option, seller is willing to wait more for the right person who will pay the right price. If make offer is chosen, the game of "make offer" must be played correctly.

"Make offer" game relies on keeping the BIN secret before the guaranteed payment. The only interaction/communication with the buyer must be to accept the offer. There is no interaction, communication in BIN option too.. The only difference between "make offer" and "BIN" is price secrecy. If seller reveals a price, at any point before the payment, then the sale is no longer "make offer". Counter offer = BIN. Declining offers with an explanation may reveal the price too. Replying inbound emails, answering incoming calls may reveal the price. If revealing the price is not a problem, BIN works better.