NameSilo

Tricks, Tactics, Strategies, Negotiations On Selling Domain Names To Potential Buyers

Labeled as discuss in Domain Selling and Domain Sales started by blue crystal, Nov 9, 2019.

Replies:
14
Views:
603

  1. blue crystal

    blue crystal Upgraded Member Blue Account

    Posts:
    325
    Likes Received:
    107
    This thread aims to list and describe all successful and already tested Tricks, Tactics, Strategies, Negotiations ( which might vary depending on Context ) or even NEW IDEAS about selling domain names mainly directly to potential buyers ( but also in marketplaces ).
     
    The views expressed on this page by users and staff are their own, not those of NamePros.
  2. Welberch

    Welberch Welberch, LLC VIP ★★★★★★★★★★

    Posts:
    1,385
    Likes Received:
    627
  3. blue crystal

    blue crystal Upgraded Member Blue Account

    Posts:
    325
    Likes Received:
    107
    WHAT TO DO WHEN NEGOTIATING DIRECTLY WITH A POTENTIAL BUYER:

    -Suppose a potential buyer sent an email offering you to pay a bit less than the domain name price you proposed in the beginning.
    There are three alternatives:

    1) You immediately accept his offer. This tactic gives a bigger probability that the buyer will purchase your domain before he has a chance to change his idea. However, if you reply too fast, he may think you are desperate to sell it and then come up, later on, with yet an other offer proposing a lower price -or worse- if he thinks you are too desperate to sell, he might even think that your domain name is not worth and give up buying.

    2) Delay a few hours or even one day before replying his email. This might make him think you are quite confident and not in a hurry to sell it. However, this interval of time is too big which allows him to rethink if he is really going to buy and then he might end up giving up.

    3) Reply soon after -but- propose an intermediary conciliatory price whose value is somehow between your initial proposal and his offer. This tactic may cause him to think that your domain is really valuable so that you decided to not accept a lower price which then may then encourage him to accept your counter-offer. However, it could happen that this intermediary price is above his budget or what he thinks it is worth and give up, or pretend “he has no conditions to pay more than his offer and pretend to give up just to test your determination”. In which case either you make a concession accepting his offer -or- stick with your word and do not make any concession until he eventually “accept defeat” and decide to pay what you proposed -even- if such decision ends up delaying the final deal for several months.

    Well, this is my analysis about this type of negotiation. What are your opinion, experience in these situations and possible objections about these tactics and their estimated relative probability of success ? What are your own tactics ?
     
    Last edited: Nov 12, 2019
  4. lock

    lock PremiumNameDomain.com VIP

    Posts:
    3,676
    Likes Received:
    3,324
    If not accepting I will quote a BIN for 7 days and await second offer. I will most likely work out who will be the end user and send a second email with a higher BIN to them. The customer will contact their broker to share info work out who they are dealing with to and negotiate to close.
     
    Last edited: Nov 12, 2019
  5. blue crystal

    blue crystal Upgraded Member Blue Account

    Posts:
    325
    Likes Received:
    107
    What if the potential buyer does not want to wait for 7 days and give up -or worse- he gets outraged that you turned a personal negotiation into suddenly a competitive collective one.

    And there is even a worse situation, suppose no one else decided to accept your BID and buy your domain. Then, you will be revealing that your domain name is not so desirable and the potential buyer either asks for an even lower price or even give up.
     
    Last edited: Nov 12, 2019
  6. lock

    lock PremiumNameDomain.com VIP

    Posts:
    3,676
    Likes Received:
    3,324
    BIN Buy it now so buy it now only valid 7 days. The reason behind tactic is to eliminate the low ball.
     
    Last edited: Nov 12, 2019
  7. lock

    lock PremiumNameDomain.com VIP

    Posts:
    3,676
    Likes Received:
    3,324
    The whole idea is to get an offer money on table you won't may not get your BIN but you want offer closer to it. I will also suggest you keep domain data keyword history after they try to reason when offer doesn't budge.
     
  8. blue crystal

    blue crystal Upgraded Member Blue Account

    Posts:
    325
    Likes Received:
    107
    But if the buyer already offered you to buy your domain by slightly less than your proposal, he is not a "low ball". He is just trying to get a bit better price.
    By putting your domain as a BID to intimidate him, it might offend him and cause him to give up.
     
  9. lock

    lock PremiumNameDomain.com VIP

    Posts:
    3,676
    Likes Received:
    3,324
    If the domain isn't a low ball then I would have already accepted offer. If I still feel it is low I will be offering my buy it now price for 7 days. I am not starting an auction so I am not using term bid.
     
  10. blue crystal

    blue crystal Upgraded Member Blue Account

    Posts:
    325
    Likes Received:
    107
    Lock, it looks like your tactic is relative to a situation where a potential buyer is using the offer/counter-offer marketplace method -instead- of a direct ( outbound ) negotiation that you started by contacting him through an email..
    Although it is a reasonable strategy in a marketplace setting, it does not seem to be the best one with a direct negotiation approach.
     
  11. lock

    lock PremiumNameDomain.com VIP

    Posts:
    3,676
    Likes Received:
    3,324
    I wasn't reacting to sending outbound as you never mentioned it. I was reacting to an offer.
     
  12. blue crystal

    blue crystal Upgraded Member Blue Account

    Posts:
    325
    Likes Received:
    107
    I think you missed it. It is the title of this discussion ( in my second comment ):
    "WHAT TO DO WHEN NEGOTIATING DIRECTLY WITH A POTENTIAL BUYER:"
     
  13. lock

    lock PremiumNameDomain.com VIP

    Posts:
    3,676
    Likes Received:
    3,324
    To get a reaction an offer from outbound it would mean that the customer doesn't know your BIN unless you posted it.
     
  14. lock

    lock PremiumNameDomain.com VIP

    Posts:
    3,676
    Likes Received:
    3,324
    Your interpretation of directly is outbound. I am option 2 dictionary.


    https://www.bing.com/search?q=direc...c62641bdc&cc=AU&setlang=en-US&plvar=0&PC=LCTS
    directly
    [dɪˈrɛktli, dʌɪˈrɛktli]
    ADVERB
    with nothing or no one in between
    with nothing or no one in between.
    "the decisions directly affect people's health" ·
    face to face · personally · in person · without an intermediary · at first hand ·
    [more]
     
    Last edited: Nov 12, 2019
  15. blue crystal

    blue crystal Upgraded Member Blue Account

    Posts:
    325
    Likes Received:
    107
    By "directly" I meant to say without a -marketplace site and its multi-functionality- as the "middle-man".
     
    Last edited: Nov 12, 2019

Want to reply or ask your own question?

It only takes a minute to sign up – and it's free!
  1. NamePros uses cookies and similar technologies. By using this site, you are agreeing to our privacy policy, terms, and use of cookies.
    Dismiss Notice
Loading...