NameSilo

Would you like to charge a domain inquiry fee?

Labeled as domains in Domain Industry News started by equity78, Nov 17, 2019.

Replies:
111
Views:
4,261

  1. equity78

    equity78 Top Member TLDInvestors.com TheDomains Staff PRO Gold Account VIP ★★★★★★★★★★

    Posts:
    13,589
    Likes Received:
    13,191
    Would you like people to pay to make an offer on your name? Would you like to pay to make an offer on someone else's domain name? I read a tweet from George Kirikos about low ballers (someone offered him $500 for Orderly.com) George wrote: What sucks is the time wasters trying to buy domains at 1% of the floor price, spamming their lowball offers. I think Webmagic has it right, charging … [Read more...]
     
    The views expressed on this page by users and staff are their own, not those of NamePros.
  2. draco

    draco Upgraded Member Blue Account ★★★★★★★★★★

    Posts:
    693
    Likes Received:
    195
    If they don't want low ballers, then they should set a minimum or make it a fixed price. Otherwise, it's a cost of doing business. Even real estate doesn't charge you for submitting offers. Though I imagine your agent would refuse to write up and submit an offer if they found it too low.

    On the flip side, do I get a refund or will you pay me if your counter offer is a waste of time? I submit a $15k offer on a 'normal' 3 letter .com domain name. Nothing special about it. You counter with $10 million.
     
  3. Peak.Domains

    Peak.Domains Established Member

    Posts:
    575
    Likes Received:
    1,095
    Sure, and anytime I inquire about a name that's maybe worth $1-2k, and the seller tells me they want $150k for it, I can charge a fee too :)
     
  4. equity78

    equity78 Top Member TLDInvestors.com TheDomains Staff PRO Gold Account VIP ★★★★★★★★★★

    Posts:
    13,589
    Likes Received:
    13,191

    You make a decent point but I think they look at it as you are contacting me, I did not contact you, you want what I have. Shops like Web Magic and Telepathy and I would imagine George K who made the tweet, have been tremendously successful and are not worried if those opposed to their inquiry fee, pass them by. If nothing else the inquiry fee keeps those that they don't wish to communicate with away.
     
  5. equity78

    equity78 Top Member TLDInvestors.com TheDomains Staff PRO Gold Account VIP ★★★★★★★★★★

    Posts:
    13,589
    Likes Received:
    13,191
    But the question was, WOULD YOU LIKE THE ABILITY TO DO IT? Integrated into Efty, DAN, EPIK, etc...
     
  6. draco

    draco Upgraded Member Blue Account ★★★★★★★★★★

    Posts:
    693
    Likes Received:
    195
    No. I would never use it, and I think it would give domaining a bad name. Yes, they're coming to you. But they're expecting people to pay for the privilege of reading their mind about what they want for it. That's why humans invented prices and minimum offers.
     
    Last edited: Nov 17, 2019
  7. Lox

    Lox ----- Gold Account VIP

    Posts:
    1,552
    Likes Received:
    1,728
    Inquiry fee will not help.

    Tracking lowball offers (IPs, emails, names etc.) since Q3 2018. They are group/s of people organized for a particular purpose. I can't tell exactly yet but seem to me the telemarketers are behind. Hitting you with the lowball offers, getting fixed price, calling companies/people and offering (very aggressive) to you similar or EMD domains (or your own DN - happened to me 17x), +more tricks s.a. someone is claiming your TM dot Net or Org etc. Tracked down a couple of companies and spotted pattern; they're moving to different locations or gassing out one company and popping out w another name. (Monitoring in progress) Regards
     
    Last edited: Nov 17, 2019
  8. Jurgen Wolf

    Jurgen Wolf Top Member VIP ★★★★★★★★★★

    Posts:
    9,705
    Likes Received:
    7,702
    I mainly use just plain contact form at ParkingCrew...
    It doesn't have the Offer field... so I don't receive any lowball offers there.
     
    Last edited: Nov 17, 2019
  9. Sutruk

    Sutruk Established Member

    Posts:
    120
    Likes Received:
    186
    I totally agree with the above quote. If you don't want a low baller, just set a minimum price or a fixed price.

    When you go shopping, does Wallmart or any other shop, charge you just for entering to the shop, see the clothes, check the prices, talk to the salesperson, waste his time and go out without buying nothing? I guess no.

    Well, I see this the same case.
     
    Last edited: Nov 17, 2019
  10. Jv1999

    Jv1999 Spamming Exo: Dark Merc of the Exo-Tower VIP

    Posts:
    2,664
    Likes Received:
    2,516
    But iz not so gud because u kno chargebacks via paypal and credit card chargebacks too that actually make YOU pay out of pocket.

    It also dissuades resellers from trying to send you an offer. Becuz no one on NP is paying over $0.01 to make an offer on your domain for resell even if it's like a 1L. That's just our nature, I guess.

    but if you're only looking for a serious end user and don't want resellers, then the $10 - $50 fee is fine.
     
  11. xynames

    xynames XYNames.com PRO VIP

    Posts:
    3,689
    Likes Received:
    6,738
    This is the way it works at DomainAgents although what the potential buyers pay is creditable towards an actual purchase.
     
  12. Abdullah Abdullah

    Abdullah Abdullah Top Member Epik.com Staff VIP

    Posts:
    2,720
    Likes Received:
    3,071
    Yes, I was about to say that. I sold a domain through them earlier this year. The buyer had to pay 20$ to send his initial offer of $199
     
  13. frank-germany

    frank-germany domainer since 2001 / musician Gold Account VIP

    Posts:
    7,409
    Likes Received:
    9,285
    of course, I want to be able to do so
     
  14. hookbox

    hookbox Top Member VIP

    Posts:
    2,413
    Likes Received:
    4,879
    Paying to make an offer on very high value names makes sense because it weeds out the low ballers who won't pay the fee. Do this with regular names and kiss your sales good bye!
     
  15. Kingslayer

    Kingslayer Top Member VIP

    Posts:
    1,631
    Likes Received:
    3,955
    I’m grateful for all interest in my domains, even ‘so called’ low ball offers and i always try to give the courtesy of countering even if we are way apart on price.

    $10/$100/$250 is a lot of money to people in many countries, so whilst people living 1st world nations may deem these types of offers as ‘low-ball’ and ‘time wasting’, someone in another country could actually offering all they have by offering what they are for one of your domains.
     
    Last edited: Nov 17, 2019
  16. Bob Hawkes

    Bob Hawkes formerly MetBob NameTalent Gold Account VIP Trusted Blogger

    Posts:
    4,981
    Likes Received:
    12,160
    I would say definitely not. I never understood the constant and often sarcastic complaining by a few about low offers. Every marketplace (well almost all) allow you to easily set the minimum amount of an offer. If you don't want low offers, simply set that minimum. I suspect that some spend more time complaining about low offers than they would spend providing short, polite responses.

    Domain values are not well understood by most who use or consider acquiring domain names. We should not be surprised if offers are way out of line with expectations. We should definitely not take it as some sort of personal affront. If you have set the miniimum offer on a domain name you expect mid $$$$$ for at $50 why exactly are you surprised when you get low offers?

    A fee just to make an offer would further weaken the sell-through rate and negative perceptions of the industry. So as others have said, use the minimum offer feature!

    Bob
     
    Last edited: Nov 17, 2019
  17. Silentptnr

    Silentptnr Top Member VIP

    Posts:
    12,972
    Likes Received:
    34,609
    I might be okay to make a deposit in order for an offer to be considered.

    It would need to be refundable though if the seller declined the offer. If the seller accepts, the deposit goes towards the purchase.

    Otherwise I could not see paying a non-refundable fee just to make the offer. I would not charge anyone to make an offer.

    I think people are smart and would try to find a seller on a no fee for offer platform.
     
    Last edited: Nov 17, 2019
  18. biggie

    biggie Top Member VIP ★★★★★★★★★★

    Posts:
    9,803
    Likes Received:
    9,522
    Hi

    if you had the type of domains that are getting frequent offers/inquiries on, then you might be more sympathetic, to their complaints.

    I can see someone not involved in domaining, submitting a low offer.. even if just to get the ball rolling

    but there are many low ball offers submitted by domainers, who know or have good idea of value for the domain, that they making the lowball offer for.

    some will say "sorry, wasn't trying to lowball you" but most won't say :poop: or even make a counter offer.

    and these are some of the same folks who boast of 4 and 5 figures sales, so if that's true, then they must have the cash.

    but I don't bite their heads off, I just say "no thanks or thanks for your inquiry".

    imo...
     
  19. Bob Hawkes

    Bob Hawkes formerly MetBob NameTalent Gold Account VIP Trusted Blogger

    Posts:
    4,981
    Likes Received:
    12,160
    You make good points @biggie and I agree that unreasonably low offers from domainers is a different situation (and one I had not thought of when I was making my remarks). And I also agree with you about not biting their heads off, even if domainers do make low offers, though :xf.wink:!

    But re the following....
    I still don't understand, if the seller does not want to consider anything less than say $10,000, why not set that as the minimum to submit an offer. When the minimum is set to $100 (or even less) then don't complain if people submit bids of $$$ to $$$$ level.

    Even if an offer is well off, it really is trivial to respond with a short message like. "Thank you for your offer, but it is well outside the range of what I can consider for this domain name."

    Bob
     
  20. Silentptnr

    Silentptnr Top Member VIP

    Posts:
    12,972
    Likes Received:
    34,609
    I make offers that leave me a fair amount of room for profit as a domain reseller. I just cant buy domains at the top of reseller prices. I usually have some basis for determining my offer amounts.

    I too have names that are firmly priced based on end user price expectations. I set those to bin only.

    Names that I have set to just make offer, I expect to get offers far, far below reality.

    Lastly, I never really care who is offering. Domainer, Google, it really doesnt matter to me. I know what I paid, what my objective is, and that's it. I lower my prices if I need capital or want to parlay to a bigger, better deal.
     
  21. Silentptnr

    Silentptnr Top Member VIP

    Posts:
    12,972
    Likes Received:
    34,609
    Also, I have successfully nurtured a buyer or two that really wanted a name but just didn't have the money, to make a deposit that I would put towards the purchase if they paid it off within 60 days.

    I refund half if they cant follow through.
     
  22. Recons.Com

    Recons.Com Top Member VIP

    Posts:
    6,072
    Likes Received:
    12,110
    There is already a tool not to deal with lowball offers: set the minimum amount

    Although it comes with 2 downsides: loses the potential sales via negotiation and persuasion; anchors the price expectation at a low point.
     
  23. NamePrime

    NamePrime The Godfather VIP

    Posts:
    3,431
    Likes Received:
    1,608
    I think Inquiry Fee is a bit of overreaction to low ball offers. I'd just set the minimum offer to fend low ballers off. I'd never ask for a fee for an inquiry.
     
  24. Keith

    Keith Top Member VIP ★★★★★★★★★★

    Posts:
    8,709
    Likes Received:
    9,209
    You’re making the assumption that all sellers use listing sites like Sedo to field offers. In that case, yes, setting a minimum price works. It does not work if you sell directly on your own, which I do for example.

    That said, the idea of charging to receive offers or paying to make an offer is appalling to me. It takes seconds to review an offer via email and delete if need be.
     
  25. Silentptnr

    Silentptnr Top Member VIP

    Posts:
    12,972
    Likes Received:
    34,609
    I dont like letting leads get away. Period.

    I'll even try to offer alternative names that are similar but priced lower. Sometimes that can get them to take the one they want and pay up.
     

Want to reply or ask your own question?

It only takes a minute to sign up – and it's free!
Topics / Tags:
NameWorth
  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...