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Offer by buyer for domain name... Take it or negotiate...?

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I have been offered $500 for a geo+service domain name that I owned and the enquiry comes from my website. The service is rather popular and luxurious type and geo is quite large. What would be the best next course of action. Ask for higher or take it and run? Any suggestion is highly appreciated. TQ.
 
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The views expressed on this page by users and staff are their own, not those of NamePros.
Since you're not listing specifics nobody can give you the right answer.

Some things that play into it:

1. Do you know who the buyer is?
2. How long have you owned the domain and how many inquiries have you received so far?
3. Have you researched previous sales for that keyword on namebio, and for that city as well?
4. Will you be happy to keep the domain several more years without getting another offer if you don't accept this one?
 
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Take it and run.

Of course, whatever you do, do not fall for the appraisal scam if they come back at you with needing an appraisal.
 
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Since you're not listing specifics nobody can give you the right answer.

Some things that play into it:

1. Do you know who the buyer is?
2. How long have you owned the domain and how many inquiries have you received so far?
3. Have you researched previous sales for that keyword on namebio, and for that city as well?
4. Will you be happy to keep the domain several more years without getting another offer if you don't accept this one?

Hi, Thks for the reply.
1) No I don't
2) 3 months. Have not done any pro active marketing except listed on my website so no offers.
3) wide range from $200-$2000
4) no

Having answered all that, I know which direction to take now.
 
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Take it and run.

Of course, whatever you do, do not fall for the appraisal scam if they come back at you with needing an appraisal.

Thanks for the reminder. Noted with thanks!
 
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You note that the inquiry came from your website. 'If' it's the domain name of that website, I'd counter for more, as they're asking you to close down your website, so they can have the domain. That is disruptve and an inconvienence to you, and you should be compensated for it. But this is all base on 'if'.
 
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The website is just a page saying that the domain is for sale. I have since done some proactive marketing and got some more interested parties. Will report back on the sale. Thanks for the inputs.
 
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What is the service, out of curiosity?
 
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Hi, Thks for the reply.
1) No I don't
2) 3 months. Have not done any pro active marketing except listed on my website so no offers.
3) wide range from $200-$2000
4) no

Having answered all that, I know which direction to take now.
If you can, try to find out possible information about the buyer. Try that he responds from his official email, or you could try negotiating over phone(requires skills), its not easy to fake a phone number, a new email can be generated more easily. Try to google search his mail id, and see if some clue is there.

Without pro-active marketing, the first offer of 500$ is decent in first three months.

Since the range for such domain name sale is 200-2000$, first offer of one fourth (25% of 2000) makes it look decent again.

Since the answer to the fourth is no, the negotiation skills shared by a namepros member (sorry, don't remember the name, but I liked this approach....thx to the member) can be helpful.

"Under those circumstances my preference is to neither say yes or no, but to instead start closing the deal while simultaneously feeling them out to see if there's a possibility they might go higher. What has worked for me is something along the lines of :

"Thank you for your offer. That's quite a bit less than what I think I can get for this domain, but I'll think about it. What's your time frame for making a purchase? Is this for right away or for sometime in the future?"

If the buyer can go higher, he'll often come back with a better offer to improve his chances of getting the domain even though I haven't actually turned him down. If he can't go higher and he's serious, he'll get the impression that you'll be willing to give him a better deal than he could otherwise get provided that he's willing to do the deal immediately. In that case, he'll come back with a response like "right away". Once you get your answer, the next question to ask is:

"And would you be covering the escrow fee ( about $xxx )?"

That almost always gets a yes. So now you've got a buyer committed to a time frame, and a price before you've answered him about whether you're willing to take his offer. The next thing I usually say is:

"Ok, I'll talk it over with my partner [ I don't have a partner ] and get back to you by tomorrow. In the meantime, if you think you might be able to improve your offer let me know because that would definitely increase the chances of this deal moving forward."

Whatever happens next, you take the deal and the buyer will be grateful to you for having made a concession even though you haven't made any. This tactic has had a very high success rate for me."

Hope this helps!!!!
 
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If you can, try to find out possible information about the buyer. Try that he responds from his official email, or you could try negotiating over phone(requires skills), its not easy to fake a phone number, a new email can be generated more easily. Try to google search his mail id, and see if some clue is there.

Without pro-active marketing, the first offer of 500$ is decent in first three months.

Since the range for such domain name sale is 200-2000$, first offer of one fourth (25% of 2000) makes it look decent again.

Since the answer to the fourth is no, the negotiation skills shared by a namepros member (sorry, don't remember the name, but I liked this approach....thx to the member) can be helpful.

"Under those circumstances my preference is to neither say yes or no, but to instead start closing the deal while simultaneously feeling them out to see if there's a possibility they might go higher. What has worked for me is something along the lines of :

"Thank you for your offer. That's quite a bit less than what I think I can get for this domain, but I'll think about it. What's your time frame for making a purchase? Is this for right away or for sometime in the future?"

If the buyer can go higher, he'll often come back with a better offer to improve his chances of getting the domain even though I haven't actually turned him down. If he can't go higher and he's serious, he'll get the impression that you'll be willing to give him a better deal than he could otherwise get provided that he's willing to do the deal immediately. In that case, he'll come back with a response like "right away". Once you get your answer, the next question to ask is:

"And would you be covering the escrow fee ( about $xxx )?"

That almost always gets a yes. So now you've got a buyer committed to a time frame, and a price before you've answered him about whether you're willing to take his offer. The next thing I usually say is:

"Ok, I'll talk it over with my partner [ I don't have a partner ] and get back to you by tomorrow. In the meantime, if you think you might be able to improve your offer let me know because that would definitely increase the chances of this deal moving forward."

Whatever happens next, you take the deal and the buyer will be grateful to you for having made a concession even though you haven't made any. This tactic has had a very high success rate for me."

Hope this helps!!!!

Hi PuSin

Thank you for your wonderful insights. It sure gives me some great ideas to move this deal forward.
 
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from the details provided on this thread i think $700 to $1000 will be reasonable price
 
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from the details provided on this thread i think $700 to $1000 will be reasonable price

Hi,

Yes that would be a nice range to work with but after more interaction with potential buyers, I realise that the price will not go beyond $500.
 
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Hi,
Yes that would be a nice range to work with but after more interaction with potential buyers, I realise that the price will not go beyond $500.

oh ok, then go for it, got the cash and invest it in some more better domains :)
 
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completed the sale. On the same note got a counter offer from another buyer for the same amount.
 
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Never "Take it and run", rookie mistake. Always counter, nobody offers there best price in their first contact. Not in this business and not in any business. Just don't get greedy in your counter and you will pocket a bit more money.
 
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Never "Take it and run", rookie mistake. Always counter, nobody offers there best price in their first contact. Not in this business and not in any business. Just don't get greedy in your counter and you will pocket a bit more money.

Yup made this rookie mistake for this case. Not so much because I did not thought about negotiating but since I am new in this and my confidence in closing was wanting , I wanted to make sure the sale went through. Won't make this mistake a second time though. The profit was good as I reg. for $2. Thks for the reminder.
 
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Yup made this rookie mistake for this case. Not so much because I did not thought about negotiating but since I am new in this and my confidence in closing was wanting , I wanted to make sure the sale went through. Won't make this mistake a second time though. The profit was good tas I reg. for $2. Thks for the reminder.
I think its a good profit. As you have started recently. This sale will boost you confidence for sure.
Good you took the deal. Hope you make more in future.

Congrats on the sale
 
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Kind of feel frustrated that I couldn't have negotiated on your behalf...would have done it for free!! Always, always counter, it doesn't have to be obvious, just feign interest and ask if he can improve towards the $700 mark and come back at a later date while you reply to another interested party *wink* that should get his attention.

But the deal is done and even though you probably left money on the table at least you've done it, learned from the experience, boosted your confidence for negotiations and got some money to re-invest.

From $2 to $500...in any other industry I'd be happy...
 
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