NameSilo

Y'all wanna shoot the moon?

Located in Domain Selling and Domain Sales started by Rob Monster, Nov 6, 2019.

Replies:
167
Views:
9,840

?

Do you know how to shoot the moon?

  1. Yes, I am 100% about that Moon Shot action!

    31.6%
  2. Yes, I tried it but I am just now getting my moon boots on

    17.1%
  3. Yes, but I rather suck at at it quite frankly

    7.9%
  4. No, but I am going to go to give it a shot!

    21.1%
  5. No, I am scared of the moon. I sell cheap to everyone.

    1.3%
  6. I have a telescope and like to look at the moon

    9.2%
  7. I am not sure my rifle has enough FPS to get all the way there. BRB.

    2.6%
  8. This thread is stupid

    9.2%
Total: 76 vote(s)
  1. Rob Monster

    Rob Monster CEO, Epik Epik.com Staff PRO Gold Account VIP

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    ICYMI, during October, Epik sold 3 domains above $250,000.

    In the interest of helping folks sell more domains for bigger money, I want to share openly what I think works pretty well when responding to retail inquiries.

    Here are my two go-to response templates for answering inbound inquiries:

    Template #1

    Hello <firstname>,

    Thanks for the inquiry.

    Names of this caliber routinely sell for over $100,000.

    We also sometimes do domain leases with a purchase option.

    If you have budget, I will do my best to get something done for you.

    Happy to advise.

    Regards,
    Rob




    Template #2

    Hello <firstname>,

    Thanks for the inquiry.

    You are probably looking at well into 5 figures USD for this domain.

    Alternatively, it is likely possible to do a lease with a purchase option or seller-finance.

    Depending on your budget, happy to advise.

    Regards,
    Rob



    Obviously, if you have some specific comment about the domain or about the person inquiring about the prospect, that can be helpful, but usually this is a great way to just see how high is up.

    During October, we saw a 2 word domain sell for $253,750. By most standards, this domain was absolutely nothing special. The domain was however strategic to the buyer.

    A lot of purchase prospects end up becoming leases and financings, depending on the budget situation of the buyer. The point is to never underestimate how high is up. It is much better to: Shoot the moon!

    And now you know!
     
    Last edited by a moderator: Dec 17, 2019
    The views expressed on this page by users and staff are their own, not those of NamePros.
  2. DomainBarracksRob

    DomainBarracksRob Top Contributor VIP

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    @Rob Monster thanks for sharing this! I could have used this not too long ago I responded to an offer with “Only entertaining 5 figures and up”. I forgot to even leave a line about leasing options. Also the way you close it, is much more inviting. I like it.

    I will try this next time.

    Thanks
     
  3. Sutruk

    Sutruk Established Member

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    Hello Rob. Thank you for the domain report sales, and for the response templates for answering inbound inquiries.

    Did they pay the $253,750 in one payment, or it was a lease with a purchase option? Thanks
     
  4. Rob Monster

    Rob Monster CEO, Epik Epik.com Staff PRO Gold Account VIP

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    Right, the point is that you are not selling a domain, you are selling a solution to the person's problem. You are presumably not just a domain owner, but also a subject matter expert on domaining. So, if they will engage the dialog, you can:

    - Sell them your name
    - Lease or finance them your name
    - Find out their exact objectives and flip them someone else's name for a profit
    - Make a new friend who knows you are a subject matter expert

    No hard sell. Consultative advice.

    A lot of folks are a fan of Sandler method of selling. I am not because it comes across as trite and canned. Forget method selling. Just be authentic about getting to the win-win.
     
  5. Rob Monster

    Rob Monster CEO, Epik Epik.com Staff PRO Gold Account VIP

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    One transaction. Wire transfer.
     
  6. Sutruk

    Sutruk Established Member

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    Amazing sale. Congratulations for the sales and for how you manage those inbounds!

    And thank you too for this quote. Your tips are really appreciated!

     
  7. bmugford

    bmugford www.DataCube.com PRO ICA Member VIP ★★★★★★★★★★

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    Business Model #1

    Ask crazy high prices, sell a domain here or there maybe.
    The Mike Mann model.

    Business Model #2

    Selling domains consistently for great returns.

    I like the second model a lot better. It is far more repeatable for the average domain investor.
    The amount of great offers you need to turn down to get a ridiculous one is a lot.

    Brad
     
  8. Chairul avif

    Chairul avif Established Member Epik.com Staff

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    So we never know which domain name is special to others?
     
  9. Rob Monster

    Rob Monster CEO, Epik Epik.com Staff PRO Gold Account VIP

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    upload_2019-11-5_20-15-6.png
     
  10. Rob Monster

    Rob Monster CEO, Epik Epik.com Staff PRO Gold Account VIP

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    Try reading next time. What did I say?

    I just did a deal tonight -- asking price was $625,000. The buyer will lease for $3500 per month with a purchase option at $625,000. I led with the buy now but closed with lease/option.

    You have options -- use all the tools in your toolbox and see if you can retire a little earlier so you can go work on your ..... CALLING:

    https://www.namepros.com/threads/so...t-do-domain-names-have-to-do-with-it.1161411/
     
  11. JB Lions

    JB Lions Top Contributor VIP

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    #1 actually sounds more like Rick to me. Where I don't read about everyday sales from him but he has some real big ones from time to time. Mann sells domains every day, like 20 or so, average in the low x,xxx but also has some big ones in the mix. Like a baseball player that has a career. Consistently hits singles with some home runs from time to time.

    example..

    Domains sold so far today - 15
    Average sale price $3,065
    Total sales $45,983
    Average purchase price $24
    Total purchase price $364
    Total margin $45,618
    https://twitter.com/mikemanndotcom/status/1164365269273337856
    -------------
    Side note, it would be nice if some of these big sales actually had domain names attached to them. It's even a minimum here in the Domains Sold thread.
     
    Last edited: Nov 6, 2019
  12. bmugford

    bmugford www.DataCube.com PRO ICA Member VIP ★★★★★★★★★★

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    Cool story.

    This seems like another thread that is just an obvious promotion for Epik and their services.

    Brad
     
    Last edited: Nov 6, 2019
  13. Rob Monster

    Rob Monster CEO, Epik Epik.com Staff PRO Gold Account VIP

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    I am sharing what works so that others can scale it.

    If you want desperate sellers with weak hands to undercut you with cheap inventory, that's fine. I rather make the pie a lot bigger by teaching people to:

    1. Price for value not for cost

    2. Provide flexible financing for those who need it.


    The result is:

    1. Windfall incomes now and then

    2. Recurring income from leases.


    Ask @DanSanchez about it. He went from being a weak-handed seller to being strong-handed with a single lease of a 2-word domain that covers his monthly nut just from monthly leasing income on one domain.

    Yeah, Brad, I make this stuff up. Sure I do. Please stop teaching people to play yesterday's hits. With all due respect, CPC is about as current as that disco ball in the attic.
     
  14. bmugford

    bmugford www.DataCube.com PRO ICA Member VIP ★★★★★★★★★★

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    CPC as in cost per click? When did I ever say anything about that?

    1.) Buy domains.
    2.) Sell domains.
    3.) Reinvest.
    4.) Repeat.

    I have been passively selling domains to end users for over a decade successfully, but thanks for all your helpful advice :)

    Brad
     
  15. Rob Monster

    Rob Monster CEO, Epik Epik.com Staff PRO Gold Account VIP

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    And that is totally cool and great. I know you have great names. I am just saying that you might be leaving a bunch on the table. However, if it ain't broke, you don't have to fix it. I am sharing what is working for me and it is also working for some other folks who I am helping to close deals that they did not think they could close. Most folks who shoot the moon are not teaching others. I can guarantee you that there are a bunch of folks doing it but they don't want to teach you because they want to outbid you in the drop auctions.
     
  16. Recons.Com

    Recons.Com Top Contributor VIP

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    Mike Mann uses both models. Don't know if there is any science behind which ones he prices xx,xxx to xxx,xxx, but to any of us they'd look pretty random. Most of his names, though are priced $xxx to low $xxxx.
     
  17. bmugford

    bmugford www.DataCube.com PRO ICA Member VIP ★★★★★★★★★★

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    It is true that any domain can sell for any price to the right buyer, for the right use.

    If you want to ask $150K or $250K for marginal domains go ahead.
    At that point it is just a numbers game, unless you have any specific intelligence on the buyer.

    If you own enough domains and ask really high prices you might sell one here or there. At the same time this is more like a lottery mentality. You might never hit the big one, but pass on hundreds of great offers in the meantime.

    I think the average domainer, who is struggling to even sell domains period, is likely to get unrealistic expectations.

    Brad
     
    Last edited: Nov 6, 2019
  18. asxforum

    asxforum Established Member ★★★★★★★★★★

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    Y'all wanna shoot the moon?

    Yes this is fine if you have other income options . I dont have that option and need to sell domains at times just to put food on the table .
     
  19. Ategy

    Ategy NameCult.com Gold Account VIP

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    @bmugford and @Rob Monster .. you both aren't right or wrong .. both types of strategies can work depending on the specific domains.

    All that said .. it's never a good idea to base your choice off of just a few reported sales .. we don't know the size or quality of Mike Mann's portfolio (or is that public?), nor Rick's .. nor Rob's or Brad's for that matter .. lol.

    So nobody can really judge a strategy a success or failure without knowing all the details of the entire portfolio.

    That being said .. congrats on the sale big Rob! :)

    More importantly .. thanks for the email templates .. one of the biggest obstacles that makes domainers not reach out to people, is the fear of getting it wrong. I've used genuine and strategic methods to close sales .. the most important thing is trying to figure out who the buyer is ... but given lack of enough information, I tend to the nice-guy genuine win-win approach! :)
     
  20. Sutruk

    Sutruk Established Member

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    Thank you for the discussion guys, because this one is worth to be read a few times, at least for me :)
     
  21. JB Lions

    JB Lions Top Contributor VIP

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    It's public, you can go right to his site and download the names. He's been putting info/sales out there for many years. I used to keep track of it to study the model. It's why any time we have these Mike Mann threads, is he making money, does his model work. Yes, very easy to show the math on it. See example above from his tweet.

    Let me give you the very short version, there are other posts where there are more details. He liked one of those posts where I went thru it, plus again, I did the math years ago but generally:

    300,000 names x 8.50 renewal = $2,550,000 a year

    $20,000 a day in sales = $7,300,000 a year

    $4,750,000 left after renewals. For new buys and other expenses.
     
    Last edited: Nov 6, 2019
  22. wwwweb

    wwwweb Top Contributor VIP ★★★★★★★★★★

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    Yes, Mike Mann is around 350K names. He regularly does state around $60k in daily sales. Obviously outliers like Aptum.com for $95k, cryptoworld.com $195k, acehandymanservices.com for $29888 don’t hurt.

    Take into account some of his portfolio includes names he purchased over a decade ago for 4-5 figures that sell over time, another good portion is reg fee also.

    His bottom line I have no idea, but it would be a great study, as it is such a diverse portfolio built over time.
     
    Last edited: Nov 6, 2019
  23. Rob Monster

    Rob Monster CEO, Epik Epik.com Staff PRO Gold Account VIP

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    Well, I do try to not buy marginal names.

    As for missing out, I think my template does invite discussion, and if you don't get a reply then within 48 hours you can always chase it with a more timid inquiry, "Just checking in -- anything further to discuss here?". And then you find out what they think. I am sharing what I find works. Perhaps it works for others. It works for me and for the clients who let me sell their inventory.
     
  24. Rob Monster

    Rob Monster CEO, Epik Epik.com Staff PRO Gold Account VIP

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    And that is fine.

    Sell what you need to sell to feed the family. I am talking about your INBOUND inquiries.
     
  25. JB Lions

    JB Lions Top Contributor VIP

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    Yep, I guess 350k now, couple of years ago, there is a past post of 300k.

    When I first started, my first few years, I literally kept a text document and kept track of them daily. He's very open with the sales, on Facebook/Twitter. I would take a month, average it out, that's where the $20,000 day amount came from. So once you get that and you know how many domains he has, then the math/model is easy to figure out. What was interesting to me at the time, was the average amount, low x,xxx

    So:
    low x,xxx sales = singles
    those big sales he gets sometimes, like a $70,000 sale or something = home runs and I'm sure doubles and triples in the mix.
     

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