Why Choose Make Offer?

[DaveX]

I really don't understand why people use the make offer option without giving a range.

Then when you send an offer they just decline and don't counter. Seems like a real waste of time.

Also, as both a buyer and seller I don't feel people respond as well to make offer listings here on np.

Am I missing something?

 

[DaveX]

I just get the feeling that some of the Make Offer listings are just people hoping for a huge offer over the market price.

 

[MapleDots]

If you look at all the Make Offer listings, they are the least active it seems. I really think Make Offer listings should have some expectation or estimate.

I would love to see it in action... a listing site that forces a price instead of make an offer.
Maybe PRYCR.com could do that, it would kind of set you apart from the other guys.

 

[hookbox]

I use Make Offer on my Auction pages but I always state minimum offer. Once the offer is made, I counter just to see if the buyer is willing to go higher. If not then the minimum offer that we started with is what I am willing to accept for the domain name. Of course I don't tell the buyer that up front (until now anyway). One pet peeve I have is to start an auction at $1 but your reserve price is $20. Now that is a real waste of time.

The problem with that strategy is that the buyer would be a fool to offer anything higher than your minimum offer. If your minimum is $500 and he offers $500 it's game over for you. The buyer knows that by listing $500 as your minimum that 9 times out of 10 even if you counter higher that you would accept the $500.

He knows that if he sticks to his guns you probably will end up accepting the minimum, and if not he plays the game a while and still buys it cheaper then he would have been willing to spend. Maybe he would have spent $3,000 on the name but if he hovers around the minimum by offering $500 then $650 then $850 and starts saying that's as high as he can go. You then start getting nervous that you're going to lose the sale and end up accepting $2,500 less then he would have spent. I think it's better to put a Buy Now price and discount off that then to put a minimum and try to come up to where you think they would buy.

 

[Daniel Owens]

@MapleDots your site is nice. Only, downside is it says inquire for pricing and has no range. It, makes me afraid you will 1: either asking over $1K for them or 2: maybe want over $10K even. Just my thoughts nice domains.

 

[Daniel Owens]

The problem with that strategy is that the buyer would be a fool to offer anything higher than your minimum offer. If your minimum is $500 and he offers $500 it's game over for you. The buyer knows that by listing $500 as your minimum that 9 times out of 10 even if you counter higher that you would accept the $500.

He knows that if he sticks to his guns you probably will end up accepting the minimum, and if not he plays the game a while and still buys it cheaper then he would have been willing to spend. Maybe he would have spent $3,000 on the name but if he hovers around the minimum by offering $500 then $650 then $850 and starts saying that's as high as he can go. You then start getting nervous that you're going to lose the sale and end up accepting $2,500 less then he would have spent. I think it's better to put a Buy Now price and discount off that then to put a minimum and try to come up to where you think they would buy.

Downside, is if you put too high a bin with make an offer some people are NOT going to waste their time to make an offer. For, example if you ask $50,000 for a domain that most people would value at $1,000 to $4,000 or less then someone might think your crazy and not waste their time. SO, I should add set a bin no more than 3x current market value in my opinion.

 

[DaveX]

My thing is, if you're going to put a domain up for sale and ask for offers with no posted price, you should not make the person making an offer feel like they are intruding or offering too little.

If someone makes me an offer, and it's low, I let them know I'm looking for more. If the offer is close, I'll even give a figure.

The situation I mentioned at the top involved a seller that definitely knows the going prices. Yet, because the seller thought I know the going prices, they thought I was low balling. Sure, I look for deals, but I don't think I'm too far off.

If a seller knows what they want for a name, why not just put the price tag on it?

 

[MapleDots]

@MapleDots your site is nice. Only, downside is it says inquire for pricing and has no range. It, makes me afraid you will 1: either asking over $1K for them or 2: maybe want over $10K even. Just my thoughts nice domains.

I have a tendency to stay in the 5k range, that is my comfort zone unless I am contacted by a broker then I will usually stretch out the negotiation as long as I can while I try to gather facts. Usually I am dealing with a bigger company and I can get a higher sale price. The method has worked very well for me and sometimes it has taken up to 1/2 year to conclude the deal. I would never have gotten what I did with a quick off the cuff response. I had to plan out strategy and go on a fact finding mission to maximize my profits.

They would have been much better off to call me and say.... hey how much do you want for that?

My average offer is around $250 and I still respond back with courtesy and use my favorite line....
" it's a great start but I am looking for a bit more for that one "

For most of my domains it just says "under development"

 

[Daniel Owens]

My thing is, if you're going to put a domain up for sale and ask for offers with no posted price, you should not make the person making an offer feel like they are intruding or offering too little.

If someone makes me an offer, and it's low, I let them know I'm looking for more. If the offer is close, I'll even give a figure.

The situation I mentioned at the top involved a seller that definitely knows the going prices. Yet, because the seller thought I know the going prices, they thought I was low balling. Sure, I look for deals, but I don't think I'm too far off.

If a seller knows what they want for a name, why not just put the price tag on it?

Nice. Some, sellers have their mind set on a price sometimes based on what they pay. Sometimes, if a seller aid to high close to an end-user price or even just twice floor price, they don't want to lose money even if they know the going rate is much less. For, example take these people spending $300 for a non-chip 4L then saying I won't take less than like $340 or something, when the floor for it might be just $260-$285

 

[hookbox]

Downside, is if you put too high a bin with make an offer some people are NOT going to waste their time to make an offer. For, example if you ask $50,000 for a domain that most people would value at $1,000 to $4,000 or less then someone might think your crazy and not waste their time. SO, I should add set a bin no more than 3x current market value in my opinion.

Absolutely. You have to be realistic.

 

[DaveX]

The whole Make Offer thing seems a tough way to go. I think BIN price is better all the way around. Most of the time Make Offer just brings offers for far less than the seller has in mind. At least with a BIN price, the seller can always adjust, but the buyers always know the price the seller wants.

 

[hookbox]

I have a tendency to stay in the 5k range, that is my comfort zone unless I am contacted by a broker then I will usually stretch out the negotiation as long as I can while I try to gather facts. Usually I am dealing with a bigger company and I can get a higher sale price. The method has worked very well for me and sometimes it has taken up to 1/2 year to conclude the deal. I would never have gotten what I did with a quick off the cuff response. I had to plan out strategy and go on a fact finding mission to maximize my profits.

They would have been much better off to call me and say.... hey how much do you want for that?

My average offer is around $250 and I still respond back with courtesy and use my favorite line....
" it's a great start but I am looking for a bit more for that one "

For most of my domains it just says "under development"

If I got that response then I would offer you $500. An extra $250 is a bit more to me but may still be way off to you.

 

[MapleDots]

If I got that response then I would offer you $500. An extra $250 is a bit more to me but may still be way off to you.

Thats a good point but in most cases the next thing the client says is much are you looking for ?
At that point I usually quote the price but I never say I had an offer of xxxx, I hate that response when I ask to buy a domain.

 

[DaveX]

Thats a good point but in most cases the next thing the client says is much are you looking for ?
At that point I usually quote the price but I never say I had an offer of xxxx, I hate that response when I ask to buy a domain.

That's another problem. The old.."I've had offers over $xxxxxxxxxxx. I'm like..."Why didn't you sell it then?".

 

[ninjadomain]

Different strategies for different sellers. Sometimes, the seller doesn't want to sell badly. Other times, make offer really means best offer.

 

[Daniel Owens]

That's another problem. The old.."I've had offers over $xxxxxxxxxxx. I'm like..."Why didn't you sell it then?".

Yeah, when a seller does that to me, I lose lots of trust in deal with them. I mean if a new gtld and they claim they have a $30,000+ offer for it. Then, I begin to think if they aren't honest about the offers, they said they got. Then, I don't trust them as seller and think it might be fraud who knows maybe they don't even own the domain.

 

[Name Trader]

I really don't understand why people use the make offer option without giving a range.

Then when you send an offer they just decline and don't counter. Seems like a real waste of time.

Also, as both a buyer and seller I don't feel people respond as well to make offer listings here on np.

Am I missing something?

I don't even look in the Make Offer section on NP's. I avoid it altogether. That would be my advice to you.

 

[WeSell-Domains]

I think it's better to put a Buy Now price and discount off that then to put a minimum and try to come up to where you think they would buy.

That may work but if I only list a BIN without the Make Offer and if the BIN is high end of where I want to be then I scare off a lot of potential buyers. I usually put both Make Offer and BIN. And if as you say, if the buyer will not go much over the min offer, then I am happy to take that offer because it is truly my minimum. I do have several domains on my auction site where I do not place the Make Offer option, only BIN and that means the price is firm. No negotiations.

 

[Daniel Owens]

I don't even look in the Make Offer section on NP's. I avoid it altogether. That would be my advice to you.

Nice, make-an-offer is an option not just in make-an-offer section as you know. Do you find interest in the domains in the Liquid Domain section that are make-an-offer?

 

[Name Trader]

Nice, make-an-offer is an option not just in make-an-offer section as you know. Do you find interest in the domains in the Liquid Domain section that are make-an-offer?

I never look in the Liquid Domain Section also, for the same reasons. Well maybe once a year. For the same reasons. Expectations are generally unrealistic.

 

[toughdomains]

I had all my domains in our domain for sale page set to make an offer and they all came in under $500 including names I paid thousands for. Also got emails trying to convince me sometimes you need to take a loss on a name even a one word.
got so many what i considered low offers on one word names that I also stopped responding. Was getting at least 4 offers a month on each of the top 20 names and it was getting to be a waste to even reply to each of these. Once I set my pages to min offers all the offers slowed down.

So at the end of the day you just dont know whos at the other end of the chain. if its a guy who has one great name it maybe fun to respond to to all offers. if its an investor with hundreds or thousands of names they just ignore the emails.

I recently sent an email to one of the domain ledgands about a domain he previously purchased from me. I was sending him a hello with the contact info of interested buyers after I sold it.

In the first line of the email I mentioned the highest auction price ($5k)...he mentioned later that he must have scanned the email and throught i sent him a low ball offer of that highest auction price and never even read the contacts I sent over.

if your busy you may just read the the preview and not even click into the email. just so many reasons why someone does not reply. But having a system that tracks all your offer history in one place and allow you set a page that lets you buy now, ,make offer or both with min offer helps.