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This negotiation turned into successful sale

Labeled as strategy in Domain Buying and Selling Discussion started by AbdulBasit.com, Apr 23, 2019.

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  1. AbdulBasit.com

    AbdulBasit.com DomainsWeb.com AbdulBasit.com PRO VIP ★★★★★★★★★★

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    Hello and Assalamo Alaikum,

    There have been many times fellow domainers ask about how I negotiate and what messages were exchanged in the entire communication. As everyone knows that most leads don't end up successfully but let me share one of the recent successfully completed sale in which I'll include the communication from beginning till the end. But just for the privacy of domain buyer, I'll exclude domain name and buyer detail.

    Inquiry came in via Uniregistry lander on 7th April 2019 and concluded on 16th April 2019.

    Buyer: I am interested in your domain depending on price.

    Me: I gave price quote of $4888 and won't share the exact template I usually use.

    Buyer: OK thank you; my budget is $3,000. Do you have other domain in that range that are unique? I am trying to think of a new business name that also has a domain available at the $2K to $3K price range.

    Me: Thanks for your offer of $3000 which is appreciated.

    We've hundreds of domains which fits your price range but below are some of them for you to check:


    Here I gave around 10 brandable domains to check if he is interested in any of those.

    If you like any of the above name, let me know. Or please mention specific keyword/niche so I'll check in our portfolio which fits your need.

    Buyer: OK thanks, none of those would work. I am looking for words that relate to nature (water, trees etc).

    Me: Thanks for sharing. Below are some names which will fit your requirement but few are above your budget.

    Here I listed around 10 domains related to water/trees.

    Buyer: Too expensive for me. :)

    Me: Yeah, I can understand. However, if you like to proceed with the purchase of xxxxxxxxxx.com, let me know.

    Buyer: Thanks. I have up to $3K for a domain for a new business, name is TBD based on domain. I like xxxxxxxxxxx.com best but I cannot afford.
    xxxxxxxxxxx.com is my 2nd pick so far and more reasonable for me. I own a domain www.xxxxxxxxx.com. If I can include that domain in a deal to close the gap I would consider. This was going to be my company name for many years but since i bought it long ago several new companies have come out with similar names like www.xxxxxxxxxx.com etc.


    Me: Thanks for sharing your thoughts.

    No matter you buy domain from me or elsewhere but I'll give you honest suggestion. Using xxxxxxxx.com is confusing and three word domain. To cover up the typo/mistype traffic, you must have xxxxxxxx.com as well so there won't be any leaked traffic. However, the best for sure is xxxxxxxxx.com and we've declined several decent offers to date on this one. But it looks like xxxxxxxxxxx.com could be the best match specially for you considering the budget.

    In order to make a quick and fair deal, we would sell it for $4500 only.

    What do you think?


    Buyer: I appreciate your offer. That price is too high in my opinion looking at market value as well as value to me, however good for you if you can sell
    it for that much. For a purchase price of $xxx thats a great return. I am going to keep monitoring DropCatch for some other options. Good luck, if you look at your value/return again and decide you're interested to transact, my email address is [email protected].


    Me: I can understand your point but purchase price doesn't matter when selling any domain.

    Thanks and wish you all the best in your endeavors.


    Buyer: Thank you, I agree purchase price does not matter, just noting fantastic return. Congrats on your success I saw you sold symphony.com that is pretty cool. Best of luck.

    Me: Thank you very much.

    It's unfortunate the deal didn't go through but let me tell one thing, you're a nice gentleman.


    Buyer: Hi AbdulBasit, I appreciate your note. I have been looking around and still like this domain the best. I would purchase for $4,500. Let me know how we proceed.

    The buyer knew how much I paid for the domain, most probably using NameBio and found out I acquired via DropCatch. It was good to see he understood that purchase price really doesn't matter when selling a domain.

    Also make sure one should never get upset if someone says you paid xx and now asking $xxxxx for it. Buyer always try to get the best deal and seller wants as maximum as possible.

    It's part of business so be prepared for everything coming your way. In short, always be nice with everyone.

    Feel free to share your experience and/or if you like to give any feedback on the above negotiation.
     
    Last edited: Apr 23, 2019
    The views expressed on this page by users and staff are their own, not those of NamePros.
  2. MrAcidic

    MrAcidic Upgraded Member Gold Account VIP

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    Thanks for sharing, It was a nice read with a good message at the end (y)
     
  3. YairDD

    YairDD Established Member

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    Love it.
    Thanks for sharing!

    I would have probably sell it for $3,000 if to be completely honest. I'm not a weak negotiator, I'm just new to this and like profit, I guess.
     
  4. DomainBarracksRob

    DomainBarracksRob Top Member VIP

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  5. biggie

    biggie Top Member VIP ★★★★★★★★★★

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    Hi

    it was a good read

    as the conversation progressed, it felt like the buyer was another domainer or at least somebody who knows how to.

    but once "market value" was mentioned, it kinda confirmed it.

    still, if that's so, then it's good that one domainer can still buy from another, at sellers asking price.

    Congrats on the sale!

    imo….
     
  6. MapleDots

    MapleDots Domain Properties 2010 - 2019 VIP

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    Very nice to see cool heads on both sides, so many hot heads in this business.
     
  7. Gabriel360

    Gabriel360 Established Member

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    Insightful.

    Couple of things
     
  8. maxtra

    maxtra Let's make a deal Gold Account VIP

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  9. Soofi

    Soofi DomainX™ PRO VIP ★★★★★★★★★★

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    Abdulbasit bhai, one of the best and most composed negotiations I’ve ever read.

    I’ll be sure to share it with others in my network and a lot to learn from your sharing as usual :)
     
  10. exa-Edward

    exa-Edward Established Member

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    Lesson learned: Always be nice to other person!
    You would not know how things will turn out.
     
  11. mAd MaX

    mAd MaX Established Member

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    What's the hold time?

    Thanks
    MaX
     
  12. AbdulBasit.com

    AbdulBasit.com DomainsWeb.com AbdulBasit.com PRO VIP ★★★★★★★★★★

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    8 months.
     
  13. Dave

    Dave Top Member VIP ★★★★★★★★★★

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  14. TERADOMAIN

    TERADOMAIN Top Member VIP

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    Thanks for sharing

    Congratulations for the sale
     
  15. Kachi

    Kachi Established Member

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    Where was the deal closed?
     
  16. AbdulBasit.com

    AbdulBasit.com DomainsWeb.com AbdulBasit.com PRO VIP ★★★★★★★★★★

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    As mentioned in the post "Inquiry came in via Uniregistry lander" so the deal completed using their checkout system.
     
  17. barman

    barman Established Member

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    Great post!

    I try to be friendly in my negotiations too. In fact, I just did this the other day. A lead came in and I responded with $15K (maybe too high but I haven't had the name very long) He said he is a startup and can't afford it - I responded with:

    I totally understand the financial restraints at a startup. It’s just not in our best interest to let this name go for anything less at this time.

    Here are some alternatives that seem like they’re available to register -

    theWord1Word2.com
    myWord1Word2.com
    Word1Word2.io
    Word1Word2.co

    Best of luck!

    Now if he's successful in a few years, he'll come back and buy the name 😇
     
  18. Joseph CA

    Joseph CA Established Member

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    Congrats @AbdulBasit.com enjoy the good feel!

    I’ve got a deal awaiting payment at Uniregistry today. It’s a few months old hand registered. Autonomous + one word .com

    From a $300 offer to a $5000 sale!
    Buyer stopped @$2000 for days but we went passed that.

    Will share details soon.
     
  19. Go4John

    Go4John New Member

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  20. Danish Harjiani

    Danish Harjiani Established Member

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  21. brian duong

    brian duong Established Member

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    Congrats on the sale, @AbdulBasit.com
    Like this kind of gentle buyer as well.
     
  22. IPBFlippers

    IPBFlippers Established Member

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    Decent and friendly communication from both parties. I'm sure that when a lot of people start paying attention to tiny details like this, more money will exchange hands.
     
  23. themavrick

    themavrick Upgraded Member Gold Account

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    Congrats!
    and thank you for sharing your communication.

    I think you didn't give up until it sold.... '.....me tell one thing, you're a nice gentleman.'. Who knows if this brought him back :)

    Please keep sharing your wisdom, its was a pleasure to read.

    Good job!!!
     
  24. 1Darko

    1Darko Top Member VIP

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    @AbdulBasit.com
    Very nice sales communication! Congrats and thanks for sharing!
     
  25. Haroon Basha

    Haroon Basha IZUQ.COM Gold Account VIP

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    @abdulbasit, Congratulations. Again you have proved that consistency, tough negotiation and patience are key to successful sales.
     

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