I have an inquiry...interested in opinions on a response

Onward · Oct 20, 2006

I received the following message (edited some details):

Mr. xxxxx,
My name is xxxxxx, and I am working for a start-up company located in
Illinois. We are getting ready to launch our company and are interested in
buying your domain name. I went to your website and noticed that it may be for sale. Could you tell me how much you want for the domain name? Looking forward to hearing from you soon.

Best regards
Firstname Lastname
Company Name

The name inquired about is a common 2 word phrase with about 4000 overture and 4 million google results (in quotes). Their company name is similar to my name except my name is more commonly known.

I have responded to inquiries like this a lot, but I'm interested to hear some strategy from experienced forum members.

Thanks!

Zona · Oct 20, 2006

In the past I've responded to these emails with something like the following,

"Thank you for your email regarding XXXX. While we appreciate your interest in this domain, we have plans to develop it in the very near future. However, if you would like to submit and offer we would be happy to consider it."

007 · Oct 20, 2006

Yep, let them put their number out. You don't want to show your price first. If they say they don't really have a price in mind, and that they were just wondering how much you want, then tell them, like you said, you were planning on developing it in the very near future and have not thought about selling, and hence, have not thought about a price. Tell them that if they are interested that they should send you an offer. If not then move on. Don't play their game. If they don't want to play by your rules then you probably aren't missing out on much cash anyway.

Onward · Oct 20, 2006

That is great advice uofadp & 007. I agree the best way to handle it is to get them to give their price first.

If there are any other thoughts or advice on this, I would appreciate it.

I will post the results of this as it unfolds. Thanks.

droplister · Oct 20, 2006

I hate when people ask me to make an offer. If your the seller its not the buyer's job to set the price. It always seemed backwards to me. I would just quote him the price you want like he asked.

Andrew Shaw · Oct 20, 2006

You have more room to work if the buyer presents the offer first. In most cases, its the person that makes the first offer that loses.

Good Luck,
Andrew Shaw

stevo · Oct 20, 2006

You must have a figure in your head which you would be willing (not hoping)to accept. Double that amount and ask for this much.

typist · Oct 20, 2006

In most cases, its the person that makes the first offer that loses.

Letting the other party go first can be a very powerful technique if you are not desperately in need to sell, and/or if you know the other party really wants to buy.

On the other hand, if you need to sell sooner rather than later, it's worth considering that the party which first puts a number on the table gets an opportunity to establish a benchmark. Defining the parameters of a negotiation can force the other party into a role of making adjustments only and limit their bargaining room.

SouthernTn · Oct 20, 2006

I would get the offer first.. but I wouldn't use the "im planning to develop in the near future" I hate that sentence.

hugegrowth · Oct 21, 2006

I would go with what uofadp & 007 said, if you want to maximize the price and aren't in a rush to sell.

As the owner of the domain, you are in the drivers seat and should let them make the first offer.

If you need cash and want a quick sale, then give them what you think is a fair price.

SouthernTn · Oct 21, 2006

Go with the straight out honesty.. like

Hey, Thanks for the interest in XXXXXX.com. At the moment, Im accepting offers and have had thoughts about putting time into developing the domain. If you're seriously interested in XXXXXX.com please make an offer and I'll respond asap.

fatter · Oct 21, 2006

I like the different input of buyers and sellers on this thread, of coarse you wont agree on whats best because our motives are different a buyer looks at it through his eyes and wants the lowest price possible and a seller wants the highest price possible, I basically dont respond to domainers anymore but would respond to an offer like this with some of the recommendations given
good luck on the sale

flybuzz · Oct 21, 2006

becareful if they ask you to pay for apprasal of some sort. That would be a scam.

Onward · Oct 21, 2006

SouthernTn said:
Go with the straight out honesty.. like

Hey, Thanks for the interest in XXXXXX.com. At the moment, Im accepting offers and have had thoughts about putting time into developing the domain. If you're seriously interested in XXXXXX.com please make an offer and I'll respond asap.

That is very helful...and I think very good advice...

flybuzz said:
becareful if they ask you to pay for apprasal of some sort. That would be a scam.

Yes. I am aware of this scam. Thanks.

Creature · Oct 21, 2006

In my opinion:

1. As posted above, explain your plans but invite an offer.

2. Find out what you genuinely believe the name to be worth by appraisals and comparison sales.

3. Take time to respond. Do not appear anxious. They either want it or they don't.

4. Put forward you price with comparisons of similar names sold.

5. Never close the door to an improved offer. Invite an improved offer.

6. Be very polite but direct. Do not talk about your personal life. Take time in composing emails.

Good luck.

forumrating · Oct 22, 2006

give a range to the buyer and ask him to select a choice out of it, so you easily know how much he is willing to pay for the name.

like xxxx - xxxxx , xxxxx - xxxxxx

droplister · Oct 22, 2006

forumrating said:
give a range to the buyer and ask him to select a choice out of it, so you easily know how much he is willing to pay for the name.

like xxxx - xxxxx , xxxxx - xxxxxx

if you gave anyone that choice i dont think anyone would choose to pay xxxxx - xxxxxx over xxxx-xxxxx

ThisDot · Oct 22, 2006

Seems to me like THEY are the one asking to buy the name... therefore THEY should be the one to say how much it is worth to THEM. If you were offering to sell it to them, then maybe it should be the other way around. Just my opinion. Remember they contacted you first.

cursal · Oct 22, 2006

It is your name and nobody can tell you what it's worth.

You have to decide how much the name is worth to you.

Both Creature and SouthernTN have given solid advice above.

There is only one of each name out there. Once it is sold, it is most likely gone forever.....

duceman · Oct 22, 2006

I have always had better luck when I respond with a price. Usually they will counter offer with a offer of about 60% of my price. I do agree that you should let them know that you have plans to develop. By letting them know that you plan to develop you don't give them ammunition in case they are looking for a UDRP case, and you also let them know that you really don't have to sell.

good luck, and keep us posted