No price is set in stone – this is the secret rule of negotiating domain prices, either as a domain buyer or as a domain seller.
There is a footnote to this rule, however: Your counter-offer must be just right.
To get the domain, a buyer must place an offer that meets the ‘sweet spot’ that will break the wall put up by the seller.
On the other hand, the seller, is often aware of – but not always willing to disclose – the magic number that will allow him to accept a counter-offer.
As a buyer, your counter-offer for a domain depends on several parameters:
- The actual asking price as quoted/expected by the seller.
- The current market trends and conditions as opposed to when the quote was made.
- Any indication that the seller is willing – for reasons of their own – to further discount the domain.
In other words, when you go out shopping for a domain, don’t expect the price to match exactly what you had in mind. After all, if you have a budget for a Ford Focus, you can’t expect to buy an F-Type 2014 Jaguar.
As a seller, your decision of accepting or declining a counter-offer, should be based on the following:
- The actual monetary offer, as compared to the cost of acquisition for that domain name.
- Your current cash liquidity, in order to re-invest or otherwise allocate funds.
- Any indication that the buyer is willing to close quickly and hasle-free, all while you earn a respectable ROI.
Buyers that walk away from a domain price quote are at risk of never getting that domain ever again. Sellers that are firmly locking their asking price without accepting reasonable counter-offers, are at risk of never selling that domain.
So negotiate smartly, whether you are a domain seller, or a domain buyer; getting your dream domain, or closing a satisfactory deal is one counter-offer away.
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