question When do you give in and accept that $300 - $1000 offer?

[NickB]

Been happening a lot to me over the last 12 months.......

Posted earlier that I was messing around a lot last year with nameservers, pricing etc and was not consistent

I have now set BIN's on DAN with min offers in place and on Sedo, Afternic and Godaddy all at make offer ranging from $100 - $1000 to help gauge interest more than anything else......

I have had numerous offers in the $300 - $1000+ range and have flat out rejected them or countered and heard nothing back......also a lot of enquiries that went nowhere......

A few after countless back and forths never budged on their opening offers or raised to a level that I found not acceptable so I have raised the BIN on some and left others at the original BIN and not bothered replying back to some of them......one especially pissed me off so have tripled the price and renewed for a further 12 months

So does there come a point where you have to start accepting some of these offers for cash flow, renewals or do you stick to your guns?

I do not need the money per say so can keep doing this, but sometimes I have a nagging voice in the back of my head (and no it's not the wife @johnn !) saying just accept a couple of them, buy a better domain or renew a few of the good ones......

I'm at just below 300 domains - dropping down to around 230 - 250 in the next few months so on one side it would be nice to cover the renewals on the other side I can wait for a potential better pay day

Asking for your personal experience, opinions etc on what you do when you have a spell of offers and enquiries and no sales..........

 

[johnn]

1. Don't be greedy. Most mistakes people have are they think the offer is too low compare to what you THINK it should worth. Cash flow is important even if you don't need the money.
2. Forget about the fake offers and move on. Nothing you can do about it
3. it's your wife voice that complaining and nagging. They have invisible power and only the husband can hear and suffer even if they are 1,000 miles away from you.

 

[HotKey]

I have had numerous offers in the $300 - $1000+ range and have flat out rejected them or countered and heard nothing back......also a lot of enquiries that went nowhere......

One of the best pieces of advice I ever heard on here was from Kate;

The first offer received is very often the last you'll ever get.
Any offer should be considered even if it's below your expectations, when the odds of a better offer in the near future are slim. The small sales add up and contribute to cash flow.

And I have never looked back.. unless it's a name that really needs "percolating".. in other words sit on it and hope for the best, or take the best you'll ever get.

 

[Bob Hawkes]

A great question/situation by @NickB and numerous sensible and sound replies.

Clearly what one should do depends on the name - some definitely hold out, and while it may take many years, odds are they will fetch that price. This is mainly for names that are clearly 'best in available class' for niche with no significant negatives.

Others, while good and totally useful, are not really in that class, and have alternatives more or less equally acceptable. In those cases, I think it is easy to cloud our judgement through our own history and perceptions of our own names - often looking only at the positives. It can be helpful to ask someone who has not selected and held the name to suggest a price with no information of the offer. If the offer is near that price, I would accept the offer, in many cases.

Some buyers simply can't afford more than $$$ to low $$$$. They are starting a small one-person operation and have already borrowed money from relatives to get started, don't yet have cash flow, the bank will not loan to them. I think someone should be selling some domain names in their price range.

Anyway, the simple, but not very useful, answer is.... it depends!

Bob

 

[Dandelion]

Sometimes you need to listen to that voice from behind, accept, and move on.

I just sold one for $330. Insisted on $2,888, $2,000, $1,200, $888, and $550. The fella managed to move from $50 to $100, and finally $300. We did this over the period of a month and some days but he never budged.

Then a tiny voice from behind asked me to accept it, that we really need this at this time. I listened to her and did.

Deal closed today! After all, I got it for $17.49 less than 2 months ago.

 

[blogspotter]

None of my names are 6 figure names, even though I won't mind accepting with the blink of an eye if I ever get a 6 fig offer.

I am entered the game late and I am picking up mediocre names for 100 bucks to a 1000 bucks.

So I don't have great hopes for my names.

So even if I know that similar names have sold for 10-15 k and I get an offer for 2-3K, I would take it, if I bought the name for say 500 bucks.

Since this is a number's game at all kinds of "quality", I'd rather have 4-5 names worth 500 each than hold out a $500 name.

I also feel it is better let an end user who is willing to spend a few thousand bucks go away happy instead of getting pissed at the industry.

I am buying names to trade up and get a great portfolio. if I were to own a one word .com which gets an offer every week, i will wait for the 7 figure end user and get the deal done.

But my XXX-XXXX portfolio domains, I will move them all day long and save up to buy a good 1 word domain when the opportunity knocks.

 

[capiche]

I believe you have to also realize at some point that they can’t ‘all’ be winners. That goes right along with what johnn said about not being greedy. The vast majority aren’t going to command those huge figures that we all hope for.

I’m guilty of it too, and have tried to start taking profit here and there on some names with the thought that some profit now is better than uncertain profit months or possibly years later.

But.... I also believe it all comes down to getting to the point where you actually have a real grasp on domain values, being able to appraise and price your domains correctly, (i.e aftermarket purchases vs very good hand reg domains), and figuring out and feeling good about which of those domains you definitely should stick to your guns with.

 

[biggie]

Not needing the money is one thing......that nice warm fuzzy feeling of a sale going through is another

Hi

i got similar feeling, when swp.org got $8.00 click other day @ Fabulous
so, even if no sales, i can still get stimulated

This trick worked for me for make offer domains:
Always counter never accept first offer even if it was very good offer because buyers may get in doubt that they are overpaying (and that the first offer was a mistake),

Hi

serious buyers follow thru -
i've accepted many 1st offers over the years and accepted the 1st offer on a 5 fig sale last month.
sometimes, you take the cash and move on, other times you negotiate or just say no thanks and pass.

but, you never know, if that offer you passed on, will be the only offer you'll ever get
or if was the highest offer or most profitable offer....until you sell or drop it.

many domains have a "value expiration period" or a peak... period in time, in which they have appeal.
and most trends fit in this category, like "chips" for instance.
if, you don't sell these types within the period of appeal, then their value drops.... and depending on when you got in, and got out, can dictate whether you earn $ or lose some.

and in between that, as time passes -
if other names in your list aren't selling or you don't have any income stream from ppc or means of monetization, then you'll have to lower prices, liquidate and start accepting any offers, just to keep the best names you have.

imo....

 

[NickB]

your right @Bob Hawkes there have been some great posts in this thread, yours included .....It's been very helpful and insightful.......

I actually have a negotiation going on at this moment in time (offer came in a couple of hours after I created my post) and have re read this thread a couple of times now to help with my mindset....my paranoia tendencies half think the offer was made based on this thread to test me out

 

[L.A. Randle]

Been happening a lot to me over the last 12 months.......

Posted earlier that I was messing around a lot last year with nameservers, pricing etc and was not consistent

I have now set BIN's on DAN with min offers in place and on Sedo, Afternic and Godaddy all at make offer ranging from $100 - $1000 to help gauge interest more than anything else......

I have had numerous offers in the $300 - $1000+ range and have flat out rejected them or countered and heard nothing back......also a lot of enquiries that went nowhere......

A few after countless back and forths never budged on their opening offers or raised to a level that I found not acceptable so I have raised the BIN on some and left others at the original BIN and not bothered replying back to some of them......one especially pissed me off so have tripled the price and renewed for a further 12 months

So does there come a point where you have to start accepting some of these offers for cash flow, renewals or do you stick to your guns?

I do not need the money per say so can keep doing this, but sometimes I have a nagging voice in the back of my head (and no it's not the wife @johnn !) saying just accept a couple of them, buy a better domain or renew a few of the good ones......

I'm at just below 300 domains - dropping down to around 230 - 250 in the next few months so on one side it would be nice to cover the renewals on the other side I can wait for a potential better pay day

Asking for your personal experience, opinions etc on what you do when you have a spell of offers and enquiries and no sales..........

The thing I learned in this business is either you will create value around the domains that you own, of you will let the market tell YOU how much your digital assets are worth.

I used to navigate the industry the same way. Low ball offers never got a second look, which put a gap in my cash flow.

Cash flow is important, undercutting your prices will kill your business. Let's face it, everyone in this game is trying to get dirt cheap domain names so that they can double the price and flip for more. It's the game.
It's the game that I didn't want to play, so I made my digital assets VALUABLE, that way I was able to sell them around price points I thought they were worth. It's something I've shown many of my clients.

Most people were saying the same thing when it came to people trying to lowball their assets. Don't get me wrong, some of those properties weren't worth even the low ball offers they were getting, and that was something we had to assess together.

On the other end of the spectrum, some offers were just downright offensive.

Discernment is your greatest friend when it comes to accepting and rejecting an offer. Sometimes it's not greed, sometimes it's just you knowing what something is worth.

Turn that lowball offers into high ball offers. That the beauty behind having control over how well your portfolio performs.

 

[Ostrados]

This trick worked for me for make offer domains:
Always counter never accept first offer even if it was very good offer because buyers may get in doubt that they are overpaying (and that the first offer was a mistake), counter with anything even if it is just $100 extra (at least this will eliminate fake offers) the important thing is to always counter. However try not to counter more than double of the received offer. Make min offer at least 50% of target BIN to filter out low ball offers.

 

[kemjika11]

When do you give in and accept that $300 - $1000 offer?

For me, when these conditions(or a few are in play) are present:
1. The ROI is xxx% or more
2. Market history says selling xxx name for xxx price is relatively common
3. You haven't held the name for long(5 years or less; if you hate renewing, domaining isnt meant for you)
4. You can easily replace the name you are considering to sell on the reseller aftermarket
5. This is the highest offer till date this name has received
6. Domainer's cash flow needs/could do with a bump(business wise, this is all its about)
7. Domainer's sell domains...you are doing the right thing when you're pushing domains out of your account(s) into other users accounts,(THATS TOP DOMAINING SH*T), not dropping, or selling really cheap(and then you start regretting in such a short while). Don't get attached to domains- when their time comes, LET THEM GO.

Nice thread btw.

 

[AEProgram]

Always reply with whatever the amount it is you want.

Domaining is a business of waiting a long time in order to possibly make a good sale. It could be 5 years, 15 years etc. However you must know your names, most names do not have a buyer even for 10 bucks. For the good names you have, just wait.

 

[karmaco]

I don’t think greed has anything to do with it. Some people routinely aim low because its safer and its a legitimate strategy. Its just not my strategy. I price based on domain probable value not on the buyer unless I am ready to drop it.

If you think your names are worth $300 to $1000 set buy it nows in that range and carry on with your life. A watched pot doesn’t boil or whatever that phrase is.

If you don’t want ridiculous low balls set your opening offer higher. You have a small portfolio and you say you don’t need the cash. Hone in on and fine tune BIN prices. That may be more effective than haggling.

I routinely reject offers and lets be real if you have a minimum of $100 but really want $2500 you are wasting everyone’s time with that kind of minimum IMO. Part of the problem with a low minimum is they will expect you to sell for that amount.

If a person’s goal is to fast flip to other domainers (there are many of those) the buy it now should be under 1K. If you want end users you have to wait.

 

[NickB]

Quite a few people have stepped up on this thread and given some great advice and shared some of their valuable experience.....appreciate it

 

[NickB]

1. Don't be greedy. Most mistakes people have are they think the offer is too low compare to what you THINK it should worth. Cash flow is important even if you don't need the money.
2. Forget about the fake offers and move on. Nothing you can do about it
3. it's your wife voice that complaining and nagging. They have invisible power and only the husband can hear and suffer even if they are 1,000 miles away from you.

Sound advice - this could be the issue, greed clouding my judgement - Should of known this really....been called a greedy little basta*d since I was a kid......

 

[koolishman]

When do you give in and accept that $300 - $1000 offer?

When I need the monies immediately, as against waiting for a future jackpot. Having funds for a surgery next week is more important than hoping for a big win in future.

 

[Omar Negron]

I've learned to work a deal and accept an offer while the iron is hot.

One deal I messed up on was several years ago for a 2 word .com (first name last name) domain. I bought it for $79 in a snapnames auction.

Not too long after I got an offer via email for $2,500. Not sure what I was thinking but I countered at $12,500.

Why? Because I am an idiot. Well, the buyer wasn't interested after that counter offer and I never heard back from them again.

Just look at your OVERALL ROI for a specific sale. Domain sales have incredible ROI potential but I think it's important to have "realistic" expectations when it comes to most of the domains in our portfolios. 2-3 word domains probably aren't going to command the highest prices. Focus on a nice ROI and get that cashflow in to buy some more domains.

1 word .com domains are a little bit different. But also, this depends on cashflow and how comfortable you are rejecting a great offer and hoping you will get another one in the future.

-Omar

 

[Joakim]

If you can easily reinvest that money in some equally or better names, sell!

I recently had an $1k offer, countered $10k, got a $2.5 offer. Countered $7.5k. Dead silence. Now I regret not taking the $2.5k. But I would still counter the initial offer, most times.

 

[Silentptnr]

I do two things...

I put solid BIN prices on my domains with reasonable minimum offers. Then I wait. Funny thing is, I get very few offers. Most of my sales are via BIN. I have seen my sales steadily increase each year for the past 5 years.

What I do for cash flow is I hold quarterly auctions. I might auction anywhere from 20-50 domains. I select names that are not my top names, but names I feel will get bids and sell. This way, I generate 2k - 4k per quarter which pays for the renewals of my roughly 1500 domains. It works very well.

As far as negotiating, I'm at about 50%. I would say I close the deal somewhere below my BIN price about 50% of the time when an offer comes in. The other 50% that don't close, I choose to believe might come back some time in the future.

I have accepted initial offers below bin but above my minimum offer. It just depends on the domain. I set my minimums where I truly might sell if it feels right. I don't use minimums simply to try for much higher when an offer comes in.

My portfolio changes all the time. I'm adding names, selling names, dropping some, etc. Like you, I'm in no hurry to sell, but I am a domain investor to make money.

I think the most important thing for me is to carefully examine my domains and my prices regularly. The market is there.

 

[twiki]

I do two things...

I put solid BIN prices on my domains with reasonable minimum offers. Then I wait. Funny thing is, I get very few offers. Most of my sales are via BIN. I have seen my sales steadily increase each year for the past 5 years.

What I do for cash flow is I hold quarterly auctions. I might auction anywhere from 20-50 domains. I select names that are not my top names, but names I feel will get bids and sell. This way, I generate 2k - 4k per quarter which pays for the renewals of my roughly 1500 domains. It works very well.

As far as negotiating, I'm at about 50%. I would say I close the deal somewhere below my BIN price about 50% of the time when an offer comes in. The other 50% that don't close, I choose to believe might come back some time in the future.

I have accepted initial offers below bin but above my minimum offer. It just depends on the domain. I set my minimums where I truly might sell if it feels right. I don't use minimums simply to try for much higher when an offer comes in.

My portfolio changes all the time. I'm adding names, selling names, dropping some, etc. Like you, I'm in no hurry to sell, but I am a domain investor to make money.

I think the most important thing for me is to carefully examine my domains and my prices regularly. The market is there.

Same here - constant updates of pricing and monthly (not quarterly) auctions and discount "closeouts" for some of those about to expire in the next 1-2 months.

I no longer have min offers since I realized something.

I used to sell a lot via min offers on my landers. Then I realized I might be self-canibalizing my own sales, since someone seeing a BIN on sedo but visiting my lander will def be tempted to offer the half amount when they have that option. I know pretty well what price to put on the domain so I'm not worried about that.

Similarly, on Afternic I get very few sales via offers.

So. Ever since I switched to BIN only, I'm seeing an increase in sale-through ratio due to that BIN. This leaves the buyer with very few options, namely two: "This is the price, I either buy it or not." I also believe this tells'em "this buyer is really set on what this domain is worth". So they might feel there's no going back on this. Edit: I believe that this cuts the hopes of those coming back from time to time to see if there's a discount and they will be more tempted to buy the BIN. Anyway this is at least my own assumption.

I do, however have min offer on domains priced above 3K, but everything 3K or less is BIN only. And it works - if you set the correct prices.

 

[biggie]

Hi

if, we don't know what the names are,
then
how can advice be given.

and, if you don't need the money
then
why you need to give in?

imo..

 

[TauseefKhan]

BIN or Offer are two extremely complicated areas of domain investing. You have to see the big picture always. One good BIN sale will offset many low offers. And, by reducing BIN on almost all domains you leave money on the table. Reviewing pricing strategy from time to time (monthly basis) has to be done.

 

[Laguna]

Sound advice - this could be the issue, greed clouding my judgement - Should of known this really....been called a greedy little basta*d since I was a kid......

Love a bit of honesty

 

[garptrader]

Given the hundreds of available TLDs and hundreds of competing aftermarket domains for most keywords, potential buyers have many options. The vast majority are not looking to spend five figures on a domain name.