Made an offer....

[gmac17]

So i found a guy who owns a small business and owns 2 pretty nice generics - doing nothing with them. I talked to him on the phone 2 weeks ago, he said he would consider selling them (but didn't seem in much of a hurry). I made him an offer, he said something along the lines of "that certainly isn't a small amount....let me think about it".

so my question is - what is the best way to get this guy to make a decision? I'm sure he has gotten other emails, though I'm probably the first phone call. My gut is that he won't sell to me right now.

Do you put time limits on your offers?

Besides lots of money, how do you get the guy who isn't looking to sell to pull the trigger?

Would somebody please write an article about the coming domain crash that I can send him?

oh yeah, and has anyone ever created a domain option? (ie, i'll give you $50 now and if at any point in the next 3 years i want to buy your name for $1,000 you have to do it...)

 

[tonyfloyd]

did he sound like he was on the fence?.....do these 2 generics that he owns have anything to do with his businesses?....or is he just sitting on these as an investment?

i love the domain option strategy!....maybe we can create straddles...spreads...puts...etc.....get em listed on the CBOE!...

tony

 

[gmac17]

they are related to his business, but he is just some guy with a 1 page brochureware website on joesbusiness.com (lets pretend he is in the stereo business and the domain names are stereospeakers.com and digitaltuners.com ).

He is probably (rightfully) leary of selling something he doesn't understand.

Tony - I love the option idea as well. What I want to tell this guy is that I'll develop your names, we'll split the $ 50 / 50 - but if at any time during the next 5 years i want to buy the name for X I can do it. (the X would obviously more than I'm willing to pay now...)

 

[Focus]

I try to talk them thru the process...make it more about the deal and how simple it is to sell them and transfer and focus less on just the money..for most people that registered these names years back it is like a 100-500x return on their investment..again make it about the process and explain it step by step using "if you want to move forward then simply do this and blah blah blah" Definitely try not to sound desperate and make it seem as if you are going to spend the money on other domains if not his..this usually pulls a definite yes or no out of them..you can also ask him how much money are they making him now and make a comparison to the amount you are offering, I ask people what they will do with the 5k or 10k, etc...give them mental ownership of the money and make them visualize it happening and pushing it over to your account..definitely gotta be by phone, email is too impersonal imo.

 

[gmac17]

focus, great points.

the "make them take ownership of the money" - this is sales 101 and right on.

Also - I never thought about the process angle - a lot of these guys have no clue how it will work, and explaining it probably makes them a lot more comfortable.

I'm going to wait a week and call back telling him I have some other names I will be buying....if he doesn't sell.

 

[ck89102]

I'm going to wait a week and call back telling him I have some other names I will be buying....if he doesn't sell.

I wouldn't say that unless it was true.

 

[FuseFX]

I've personally found that adding a time limit to the offer is an excellent way to make people take action. If I make the thing scarce -- like my offer is valid only for next 6/12/24 hours -- they take action.

And yes, hinting him that you are willing to walk away from an offer is also a great strategy. Try it.

 

[jasdon11]

IMO, you should always put a time limit on any offer, whether buying or selling.

 

[hugegrowth]

Nice advice from Focus - take the discussion away from the domains and onto the money/transfer process.

Talk to their spouse who knows nothing about domains, and let her/him know how much you are offering. Then they will put the pressure on the other to sell.

 

[copper]

Talk to their spouse who knows nothing about domains, and let her/him know how much you are offering. Then they will put the pressure on the other to sell.

This will work!
When my wife found out I was buying $xx,xxx domain, she flipped
No matter how I explained, she said I was crazy

So, this will work!

 

[DomainsInc]

This will work!
When my wife found out I was buying $xx,xxx domain, she flipped
No matter how I explained, she said I was crazy

So, this will work!

lol, so true. I don't even tell my girlfriend anymore when i buy domains. Last time i said i was buying one for 10k she said she would leave me if i did that. haha, if only she understood.

 

[hugegrowth]

the middle of the month when the credit card statement comes is always an exciting time. :argue: