After 15 years of direct end-user domain sales, I’m very familiar with the lingo used by those who attempt to get a domain on the cheap.
I’m not referring to the hordes of “poor students,” or the “single entrepreneur moms,” or even the occasional cash-strapped “non-profit.”
Domain sales occur when the offer is within my asking range, and there are a few reasons not to accept an offer that implies they are doing you a favor.
A domain asset that you have spent time, effort and money to acquire, is yours, strongly so, unquestionably so. No offer to the south of the combined value of these parameters should sway you away from your asking price.
One of the most used techniques of domain portfolio predators is the reference to making “a sale today.”
In other words, they insinuate you have certain quota to meet; sometimes, these offers arrive in the middle or at the end of the week.
Your refusal should not be considered an act of inflexibility.
By all means adjust your asking price according to an educated overall study of the domain’s metrics, but do not give an inch to domain predators that use the “make a sale today” phrase. Send them packing where they came from.
I’d rather not make a domain sale today that takes the first offer as I don’t have any quota to meet. I’d rather keep my options open and seek the best price based on my educated valuation.
Holding domain assets long term is a process that requires turning down a lot of mediocre offers, before selling at an optimal price.
“Holding domain assets long term is a process that requires turning down a lot of mediocre offers, before selling at an optimal price.”
Great advice right there. Thank you for the post!
-Omar
To these offers I usually reply 2 days later… 🙂
Well said. Trademark firms that act as “buyer agents” can be gamey and less than honest to put it kindly.
Happy to make a sale today if you triple your offer today.
A recent inquiry: “Would you be willing to relinquish this domain since you are not using it?”
Grrrrr…..
fizz – It was 1/5 of what I quoted.
Jen – That statement can be an attempt of entrapment; always respond with a statement defending your rights of ownership and effective use of the domain.
Kostantinos – Nicely played!
Omar – Thanks!
M.Menius – There’s no pressure to sell “today” an asset I held for several years.
Well said, this is exactly why you cannot go into this business with the mentality of making money now. It is very important to understand the concept of investing long term and knowing how to effectively value the domains you own. Understand where the market is right now by looking at the sales history of similar domains.
– Will
It’s all about leverage and if you need to make a sale on short notice or not. The advice to use as a poor student needing the domain for cheap for a school project is an old one and one that reads poorly, it means the person wants the domain a lot but probably doesn’t have the financial means to actually pay for it and these people can be time wasters. If you have the luxury of waiting until you get the right value for your domains while you know they are worthy, then it helps to not act desperate.
Everyone wants something for nothing these days, and ofcourse you cannot blame them, heck I’d happily take a Ferrari for the price of a Toyota, the only thing we can do is educate ourselves on tactics, IMO beauty will always be in the eye of the beholder and most importantly how fast you are looking to make money, if no need, hold onto it, I had one buyer approach me for a domain, I said no, and advised him, to come back to me in 20 – 30 years and we can touch up on the topic then and price. Simply put business is business.