Negotiations that rely on the domain buyer’s commitment to establish credibility of their interest, can often lead to a non-sale.
When a buyer displays interest, or even seems to understand the requirements set forth by the seller and yet does not commit to a timeframe, the process is doomed to fail.
As I’ve said recently, I currently limit the validity of my quotes to three business days only, in order to establish a binding agreement. I am not interested in receiving inquiries that go ‘ad nauseam’ into a loop that expects me to wait for alleged bosses, partners or other parties to agree or function. The person who contacts me is expected – by my standards – to bear full responsibility for their inquiry and their monetary offers.
When that point is reached that you realize the exchange won’t happen, do not hesitate to inform the buyer that they are effectively acting unprofessionally.
Giving them a piece of your mind can be phrased carefully, and yet effectively; make sure you emphasize their lack of commitment and seriousness in their offer. Lastly, advise them to seek an alternate domain.
By doing so, you establish a consistent approach to managing offers for your portfolio and become more assertive towards people that lack seriousness in their inquiries, and only waste your time.
Though often a good way to go, that approach has its risks.
In part, I work as a buyer’s broker. Frequently, multiple domains are being considered simultaneously; and my client won’t make a decision until we’ve heard back from every domain owner about willingness to sell, pricing, and so forth.
Under those circumstances, long delays are usually the fault of other domain owners. If person A doesn’t get back to me, then that postpones my answer to person B and C and D. So if you’re person D and cancel the negotiations, then my client and I are simply pushed into a deal with one of the remaining sellers.
Has that happened? Many times.