advice What would you do?

[Domain Monk]

Looks like buyer is from big company as far as I know from my research, his profile says master in negotiation skills in LinkedIn, is this part of his strategy?

Should I ask his max budget or leave him in silence

 

[alcy]

Couple of days .Godaddy broker told me of the first offer of 7k and I told her No .5 figures and i want 15k net .Which I got.

maybe she was good and had nice gentle voice.
its well known that domainers lose tons of salesa and never hear back from buyers after they ask for too much and counter with too much.
this happens 43554654 times more often than those seller who get what they want for their names.. so sadly, statistics are not on our side

 

[Skyvisum]

maybe she was good and had nice gentle voice.
its well known that domainers lose tons of salesa and never hear back from buyers after they ask for too much and counter with too much.
this happens 43554654 times more often than those seller who get what they want for their names.. so sadly, statistics are not on our side

She had the leads so she should know better and I told her that.All I wanted was my net for the name as.She was excited giving me the news .I was more excited.And it was a .org .

Go for it @Domain Monk .

 

[AbdulBasit.com]

Iam not desperate, always replying and asking their budget never worked for me after buyer decline the offer and put buyer at top....

Thanks guys

Love to hear from @AbdulBasit.com

IMO, asking an enduser their budget is a big mistake. The reason - never set asking or the final price according to the enduser but always set according to the actual value of that particular domain. Seller is always in the top position because you own the domain and you've the power to ask anything you want.

Asking buyer's budget means you've made up your mind to sell the domain either in buyer's budget or around that range itself. So even asking this question puts you in weak position.

If you've no problem in waiting, simply don't bother responding after the buyer has declined your offer.

Also remember one thing. Never lower your asking price if you don't get any counter offer. Simply lowering the price will give a hint to the buyer that giving no response to you will make the price coming down always so let's not respond for longer period of time.

If buyer counter offer, you can lower your asking but without receiving counter offer, never lower the asking price.

Thanks!

 

[NickB]

IMO, asking an enduser their budget is a big mistake. The reason - never set asking or the final price according to the enduser but always set according to the actual value of that particular domain. Seller is always in the top position because you own the domain and you've the power to ask anything you want.

Asking buyer's budget means you've made up your mind to sell the domain either in buyer's budget or around that range itself. So even asking this question puts you in weak position.

If you've no problem in waiting, simply don't bother responding after the buyer has declined your offer.

Also remember one thing. Never lower your asking price if you don't get any counter offer. Simply lowering the price will give a hint to the buyer that giving no response to you will make the price coming down always so let's not respond for longer period of time.

If buyer counter offer, you can lower your asking but without receiving counter offer, never lower the asking price.

Thanks!

Thanks for sharing - I find that really interesting about budget.......with sales I have always established a potential clients budget range and I have not done to badly.....

IMO asking for a maximum budget does not show weakness it helps establish if you are wasting your time - if they come back and there is only a couple of thousand between their best offer and your price then there is potentially some wiggle room - if they are playing games or genuinely can't afford it, then tell them their budget is to low and walk away - you have established they can't afford it or they won't admit they can - job done, move on and forget about it.

Domain selling might need me to have a little re think on this as you have a very good track history

 

[AbdulBasit.com]

Thanks for sharing - I find that really interesting about budget.......with sales I have always established a potential clients budget range and I have not done to badly.....

IMO asking for a maximum budget does not show weakness it helps establish if you are wasting your time - if they come back and there is only a couple of thousand between their best offer and your price then there is potentially some wiggle room - if they are playing games or genuinely can't afford it, then tell them their budget is to low and walk away - you have established they can't afford it or they won't admit they can - job done, move on and forget about it.

Domain selling might need me to have a little re think on this as you have a very good track history

I think this debatable topic but in my experience I think giving out price quote and sticking firm or close to that by counter offering is better than asking for their maximum budget. The other party should understand if the quoted price is within their range or not. Also many endusers never give out their max if asked what's their max budget. No one is willing to show their all cards.

As always I'm eager to learn and if I find anything important, I would definitely try out myself.

Thanks!

 

[TheBuyerz]

Since he rejected your offer without any message, you have to wait for the next move from the buyer.

Especially if you can hold it for more time and you know it worth more.

If he is really interested and want it badly, he will make another offer but certainly low again (Below 5k) ... you reject it and answer something like: Make a serious offer, we are in a different wavelength, review your estimation etc.

Good luck.

 

[Optimal Names]

What is the value of the domain? The value, to the buyer, should not ever change - doesnt matter who the buyer may be.

Figure out the value of the domain and get back to the prospect explaining how it can help him/her with their company, sales, etc. Explain to the prospect that each day that goes by the traffic to that domain could be a potential customer AND if the domain is purchased by a competitor then, well, the competitor now controls the traffic and the potential of converting customers.

A Porsche is the same price on the lot if I walked up to the dealer or if Bill Gates walked up to the dealer. The value of that car remains the same - doesnt matter if I or Bill Gates are wanting to purchase it. Price the domain according to its value, not according to the buyer. Same goes especially for houses, commercial real estate, etc. Where cars are mass produced there is only one house at the address. In this case the value can increase if there is competition. This is another topic but if you can get two or more folks interested, bidding on that name, they may blow through the asking price that you have established for the domain.

Bottom line is, only you can know what the value of your names are - do some homework and price them according to the value they can bring to the buyer.

IMO

 

[karmaco]

For such a high counter offer you must really believe in this name and find it valuable which is fine. If you reply at all thank him for his offer but you are not selling this name for less than 5 figures— and be done with it or simply don’t reply at all.

If you don’t want lowballers raise the lowest offer column. When an offer comes in, research research research before replying. Since he only offered 1K this is no big loss imo.

 

[frank-germany]

What is the value of the domain? The value, to the buyer, should not ever change - doesnt matter who the buyer may be.

the value to the prospect may very well change over time
or while being in a process of understanding the value, it may increase or decrease
in his eyes

there is no such thing as "value of a domain"
that is a misleading concept

if you are strong and the domain applies to many potential customers
you set the price and stick with it ( the Rick Schwartz way )

if the domain happens to be the name of a startup to be build
it's their ability to pay for it, that defines the price
and your task to discover it
( asking won't help - I agree with @AbdulBasit.com that only weakens you )

if there has never been an inquiry and you just like the name
I would go and accept the price offered

 

[lock]

You already chose. If you wanted early close you would have gone for it with your counter. You MUST wait as it is the strategy already set.

 

[love4ever]

if you are looking for 5 figures , then fix it at BIN 29000 and min.offer start from 10000
and leave it for awhile he may come back to start negotiate from ur min.




.

 

[Henrycnwokorie]

This was my exact position around January this yr. Put up a domain at make offer Dan. Did outbound, offer $500 came. Did little search about buyer and discovered this company was big. Read the profile of the companys rep, he has 25yrs in marketing. I counters 7999 and the guy went silent. I needed a sale so I sent him a message through Dan explaining why the domain is best for them.He replied that we were far apart each other. I reduced price to 7k he came to 1k but I noticed it took him time to reply even after reaching agreement at $1500, it took another 2days before payment. I was happy with the sale because all this was within 1 week.(buying to selling)
If you want more, be silent and wait. You can still send in a message and still close this deal around 10k. The choice is yours.

 

[uzver]

I asked him what his best significant offer is

best significant offer — I like this wording

Will use it in negotiations

Is there any brokers in Dan? To forward the leads?

From my experience, they can contact the buyer and shake him up (pass the info you wanted, etc). If that won’t work, they may give you his contact details to try for yourself.

It worked in my case. I researched the buyer, made a phone call... I was able to bring them from their maximum 6,000 offer to 8,500.

 

[jideofor]

Iam not desperate, always replying and asking their budget never worked for me after buyer decline the offer and put buyer at top....

Thanks guys

Love to hear from @AbdulBasit.com

You should have asked that before your countered.

 

[jideofor]

Couple of days .Godaddy broker told me of the first offer of 7k and I told her No .5 figures and i want 15k net .Which I got.

Was this a product or service related or a brandable, one word or two word?

 

[uzver]

You should have asked that before your countered.

AFAIK, you can’t do that at DAN. You can add comments only after you submitted the counter offer.

That’s DAN’s biggest limitation in terms of negotiating with buyers, IMO

 

[frank-germany]

AFAIK, you can’t do that at DAN. You can add comments only after you submitted the counter offer.

That’s DAN’s biggest limitation in terms of negotiating with buyers, IMO

that is not true
you can reject the offer
and send a message after that

 

[uzver]

that is not true
you can reject the offer
and send a message after that

Ok, you’re right. I stopped using make offer functionality at DAN a year ago when I switched 100% to my own landers, so I missed that.

My point was that you are forced to decline the offer before stating the negotiations, and it’s not the same as sending direct message on buyer’s initial offer.

I understand the buyer gets two emails — (1) your offer rejected, and (2) you have a new message (just a guess).

I had a situation when a buyer was alienated when I rejected his offer, and he didn’t want to continue conversation. He was offended that I rejected his good offer (in his mind). I don’t mean he would otherwise moved forward. But when I decline offers via email, I can present everything in one shot. I don’t send one email saying “your offer is too low”, and second one with “you will have to do better, let me know when you can increase your budget” (or whatever wording is use).

No related to domains, but I’m very active with email correspondence for many years. Sometimes, when I get an email from a sender that I don’t like (for whatever reasons — annoyed with email frequency, don’t like the offer made, no longer interested, etc), I start deleting further emails from that sender without reading it. Maybe it’s just me. But I keep that in mind when I talk to domain buyers. I don’t want to alienate them to the point that they won’t read my further correspondence.

 

[Skyvisum]

Was this a product or service related or a brandable, one word or two word?

It's a dictionary word but most wont value it at the price I sold it for.

I Would report on the sales thread later on.I am too lazy at the moment buying names
.

 

[jideofor]

It's a dictionary word but most wont value it at the price I sold it for.

I Would report on the sales thread later on.I am too lazy at the moment buying names
.

Awesome!