Negotiating. Getting the right price.

[Creature]

It strikes me that domainers are leaving a lot of money behind only because of poor negotiating skills. I know that I am rubbish at negotiating.

Therefore perhaps you can add to a list of what to do or what not to do after receiving an offer. I guess this will attract some humorous suggestions but maybe it will also help a few of us...........

Don't instantly accept the first offer
Do get an appraisal
Don't counter offer too high
Don't close the door to an improved offer

 

[lyndonmaxewell]

Don't counter offer too high

yea, and i would really want to know when and what is too high. Or how to decide.

 

[DNjet]

Always be professional in your replies, in other words replying with just "no thanks" will most likely end the negotiation.

You must set a price in your mind as bottom line, whether its to low or to high to the market in other people minds does not matter, you need to know what you will take for the domain to be satisfied you made a good deal.

 

[Bill Roy]

1) Always do a google search on the buyer, personal name and business name, then you might just realise who you are dealing with.

2) Ask for help (by PM for privacy) of domainers on this Forum whom you respect, this help can be in the form of 'Do you know this person/company?', 'How much do you think I should counter-offer with?', etc..

Hope this helps.

 

[H2FC]

1) Always do a google search on the buyer, personal name and business name, then you might just realise who you are dealing with.

2) Ask for help (by PM for privacy) of domainers on this Forum whom you respect, this help can be in the form of 'Do you know this person/company?', 'How much do you think I should counter-offer with?', etc..

Hope this helps.

This is great info....I would also offer that one must always be friendly and helpful as much as possible. If you feel the offered price is too low then tell them why you feel that way. In other words point out other similar domains that sold for more. If its a plural name then point out that plurals are usually worth more than the singular versions. Try to find some ligit reason why your domain is worth more money. If you can't find a good reason then you should consider selling for less or holding for a longer term. Sometimes just suggesting that a domain will be worth more longer term and pointing out the relative low cost of renewing for say, 10 years, is a good way to building support for a higher price. Especially if the name has to do with an incoming new technology such as alternate energy.

 

[Duckinla]

1) Don't be overly greedy. There is probably a large range between the max value to you and the max value to the buyer. find a price in that range.

2) Give the buyer URGENCY! The best urgency a buyer can have is the fear that you will sell to someone else. Let them know that you will actively seek other buyers for the domain at your reasonable asking price before considering lower offers.