A Unique Strategy When Selling Domains

[compuXP]

I've been disappointed with too many people viewing my "For sale" threads/posts/pages and never buying, so I decided to change my strategy.

Instead of lowering the price after a couple days, and nobody has any interest at that price, I've decided that it's actually more effective to get a quick sale - at the price you want - especially if you are desperate, if you promise to raise the asking price after a certain amount of time.

You have to start at a lower price than you think you may get for it, but if you're needing the money and you need it within a few days, this method should work in most places. Normally, potential buyers see a high asking price and - by tradition and common standard - wait for the price to go lower. The only way you'll get what you actually want for the domain otherwise is if you get very lucky and somebody really wants the domain or site even.

When they see you promise the raise the price, you're likely to get a quicker sale. Again, you'll have to start lower but it's useful in most situations, at least with me.

Potential buyers may not believe you'll actually raise your price so what you might need to do - if you don't get an offer or sale in the time frame - is actually bump up the price a bit or a lot. Do this a couple times, bumping your thread in a forum or updating your sales listing.

Then, after raising the price a few times, let the thread die down or remove the listing. Post it for sale a couple days later and this time, if the same people are watching, they'll believe you and go for it.

I tried this on a site and a domain, both listed for sale about 4 days ago. I promised to raise the price on each in 1 week if not sold. Both the domain and website sold today, just 4 days after listing.

I got what I wanted for the domain but a little less on the site; however previously, the site had been for sale for a few months. It was a good deal in this case.

I'm interested in hearing from you if you have tried this method, and I would like to know your results. Please comment if you have interests to do so.

 

[Rarethings]

Nice article. Great read.

 

[mattbodis]

Never though of it this way. Nice article.

 

[Varchar]

Good idea, pressure sales!! Always work...

 

[sawan_n]

Great idea...Should work...makes sense...gonna try this out

 

[jdk]

If no one is going to buy a name at $300 why would they pay $400 for it?

Just like a used car. If you won't pay $5,000 for it why would the dealer say well not you can buy it for $6,000 because you didn't like the $5,000 offer two days ago?

 

[compuXP]

Generally you hope that somebody is interested the domain, and the right person comes along. It's the same if you intend to lower the price -or- if you want to use this strategy and raise it.

Like I said, you'll need to start low enough.

 

[tdawg5345]

good idea might have to try that

 

[jemmyshow]

不错啊！

 

[Duckinla]

What you're ultimately trying to do is give the potential buyer a sence of urgency. There are many ways to do this. I have spent countless hours discussing this very subject in my career. I can see how this way will work with some buyers. But I have to imagine that a decent percentage of buyers like myself will have an allergic reaction to this approach just because of the arbitrary and unnecessary nature of the price increase. However, I remember a time when a manufacturer announced that the retail price of their product would be going up in 30 days. The sales people got that information out to customer and sales in the month before the increase were about double what they were in a normal month.
There are less brutish ways of doing this, such as pricing a bit higher and offering a time-sensitive discount. Or you could bundle another useful product (likd DNF dollars) and offer those as a gift-with-purchase for a limited time.
The unique nature of a domain name should by itself give some sense of urgency. If you don't buy it soon, someone else might and then there isn't another one available that is exactly the same.

 

[students]

Yup that would be a good idea

 

[Ados]

Great Idea and excellent article for selling domain might use this method.

 

[gariben]

This strategy will not work on normal domain names. It "might" work for ultra good domain names.

Take a look at this live example: http://www.dnforum.com/f5/f18-us-i-will-raise-price-not-sold-soon-thread-148471.html

 

[proxinated]

Nice strategy. I have had the problem of selling a domain for a while now.