Sales Question BIN or Accept Offers?

[bazabizo]

Hello guys,

Im pretty new here. So, first welcome all

My portfolio is made up of 2 parts : 1 is the hand registered and expiring ones (cost anywhere between 2-30), These I try to sell at around 250. And the other is dropping ones (Cost anywhere between 69 and 500), these I try to sell anywhere between 350-5K, all depending on the domain names. My strategy is basically, to retail. If a domain takes upto 5 years to sell Im fine. If only 1/2 of them sell in 5 years, Im still quite profitable. Correct me if Im wrong.

I have 3 straightforward (additional) questions :

1) Do you usually put a fixed price or allow for counter offers?
2) Do you add descriptions to domains? Or let the buyer do the research?
3) Is Category an important thing as well?

Thanks a lot in advance

 

[bazabizo]

Hey guys,

I am planning to do this part time. Do you usually, list domains on multiple sites or just 1?

My selling price ranges are 250-4K. Its a wide range but thats the way it is

Thanks...

 

[Shane]

Sell on as many platforms as possible.

It's like opening an additional physical shop in a new town… The more shops you have the more product you can sell.

 

[bazabizo]

Thanks a lot... Its just too hectic...

Do you also fill in all the details in the description section for each? Like google Exact Searches and so on?

Thanks..

 

[Biggie]

Hey guys,

I am planning to do this part time. Do you usually, list domains on multiple sites or just 1?

My selling price ranges are 250-4K. Its a wide range but thats the way it is

Thanks...

Thanks a lot... Its just too hectic...

Do you also fill in all the details in the description section for each? Like google Exact Searches and so on?

Thanks..

Hi

even if you plan on doing this "part-time", no sense in wasting any of that time....if you think going the distance is "too hectic".


however, if you want to list on multiple venues, make sure all pricing is the same on each platform...or list domains as "Make offer".


also, no need to fill in description, as quality domains should "speak for themselves".

Good Luck!

imo....

 

[Biggie]

Hello guys,

Im pretty new here. So, first welcome all

My portfolio is made up of 2 parts : 1 is the hand registered and expiring ones (cost anywhere between 2-30), These I try to sell at around 250. And the other is dropping ones (Cost anywhere between 69 and 500), these I try to sell anywhere between 350-5K, all depending on the domain names. My strategy is basically, to retail. If a domain takes upto 5 years to sell Im fine. If only 1/2 of them sell in 5 years, Im still quite profitable. Correct me if Im wrong.

I have 3 straightforward (additional) questions :

1) Do you usually put a fixed price or allow for counter offers?
2) Do you add descriptions to domains? Or let the buyer do the research?
3) Is Category an important thing as well?

Thanks a lot in advance

merged your threads, since you're basically asking same questions.

3. when adding domains to a sales venue or ppc service (sedo, afternic, dns, etc), the category should populate itself, based on the keywords of the domain.


for "brandables", whatever comes up is appropriate.

imo...

 

[ImageAuthors]

The percentage of domains that sells in a given year for the average domain owner is much lower than you probably realize. Based on my own figures and talking with many other large portfolio owners, I'd estimate that 5% turnover per year is typical. Perhaps less.

If you pay $10 each for 100 domains, that's $1,000 per year.
If 4% of those sell in a given year and your price is $250, then you'll make only $1,000.
That means you have a net profit of zero.
Yet you will have spent hours and hours and hours working to sell those domains.

Conclusion: You must aim higher than $250 in order to be profitable.

Since you're still starting out, it's actually very unlikely that you will sell 5% per year. Most new domainers sell nothing because they're buying the wrong domains.

Also, realize that just because you price the domain for more than $250 doesn't mean it will sell at that higher price.

Put it this way: You should aim to buy domains that really SHOULD sell for $1,000 or more. Aiming for something below that will prevent you from being profitable overall.

 

[icedude]

Buy it now and Make Offer both have pros and cons.

For example, if I list a domain at Buy it Now and it sales, I always wonder if I could have sold that name for more. Now, if I list Buy It Now and it does not sale I wonder if my price is too high, I could have missed out on a sell, because my BIN was a few hundred more than someone was willing to pay, etc.

Now, when it comes to make offer you are more flexible in getting top dollar out of the buyer, because you can usually tell where the buyer is willing to go with the first offer. But the draw back to this is, I may miss out on a sell because the buyer does not want to go through the whole offer/counter offer process and will just get a similar name at BIN.

So the Buy It Now, Make Offer thing really comes down to the name. For example, if I own ChicagoDogWalking (dot) com, I would most likely list it at BIN less than $500, because I know my target buyer would be a dog walker or small business and does not have huge amounts to spend on name. Now if I owned a one word generic .com, I would mostly likely list it at Make Offer, because I may get a crazy 7 figure offer or something. So it depends on the name.

Description is not important, waste of time. If someone is interested in the name they know why they are interested and don't need you to tell time why to be interested.

Man, the category thing is sooooo important believe it or not. I increased my sells just by putting of my names in the right category.

And man, as far as how you sell your names, that is up to you. Can't no one tell you how to play this game, because what works for me may not work for you and vice versa. You have to find what works for you.

 

[ImageAuthors]

Buy it now and Make Offer both have pros and cons.
Description is not important, waste of time. If someone is interested in the name they know why they are interested and don't need you to tell time why to be interested.

100% agree. I've never read anybody's description anywhere except Flippa. There I'd say it makes a difference. Elsewhere, I don't even notice whether there are any descriptions. So if someone wrote them, then he wasted his time.

Man, the category thing is sooooo important believe it or not. I increased my sells just by putting of my names in the right category.

When you say the categorization makes a big difference for you, which site do you see that at in terms of sales? And is that also where you park domains, or is the parking done somewhere else? I'm simply curious, since there are several market places you might be talking about.

 

[bazabizo]

Buy it now and Make Offer both have pros and cons.

For example, if I list a domain at Buy it Now and it sales, I always wonder if I could have sold that name for more. Now, if I list Buy It Now and it does not sale I wonder if my price is too high, I could have missed out on a sell, because my BIN was a few hundred more than someone was willing to pay, etc.

Now, when it comes to make offer you are more flexible in getting top dollar out of the buyer, because you can usually tell where the buyer is willing to go with the first offer. But the draw back to this is, I may miss out on a sell because the buyer does not want to go through the whole offer/counter offer process and will just get a similar name at BIN.

So the Buy It Now, Make Offer thing really comes down to the name. For example, if I own ChicagoDogWalking (dot) com, I would most likely list it at BIN less than $500, because I know my target buyer would be a dog walker or small business and does not have huge amounts to spend on name. Now if I owned a one word generic .com, I would mostly likely list it at Make Offer, because I may get a crazy 7 figure offer or something. So it depends on the name.

Description is not important, waste of time. If someone is interested in the name they know why they are interested and don't need you to tell time why to be interested.

Man, the category thing is sooooo important believe it or not. I increased my sells just by putting of my names in the right category.

And man, as far as how you sell your names, that is up to you. Can't no one tell you how to play this game, because what works for me may not work for you and vice versa. You have to find what works for you.

This is exactly what I was thinking. To make a more reasonable portfolio, I got some consultancy after registering the first 20 domains and that definitely changed the way I think. I wanted to make this as early as possible instead of wasting money on 100 bad domains.
Hand Registered domains are nice, but I think that dropping and expired ones have more potential. You just need to focus on 2 things : 1) dont get away with just bidding high so you dont over pay. 2) TIME : Give it the right time to sell. I understand that If i pay an average of 200 per domain and have 50% of them sold in 5 years at 1.5K each, then Im all set. Tough long term plan, but Im counting on it. What do you think?

 

[Biggie]

Buy it now and Make Offer both have pros and cons.

to me, there is no "con" side in "Make Offer".

why?

because that's what I want, an interested party to do, for that or those particular domains.

though when or if an offer is made and if it's not acceptable, you'll still have to reply with your "selling" price.

For example, if I list a domain at Buy it Now and it sales, I always wonder if I could have sold that name for more. Now, if I list Buy It Now and it does not sale I wonder if my price is too high, I could have missed out on a sell, because my BIN was a few hundred more than someone was willing to pay, etc.

when you list "buy it now", then that is the price you have "decided" to sell it for.

it also means...to the potential buyer, that they "won't", have to go thru the "offer/counter offer process" that you feel is a "drawback" below.
still, one can always "change" the price later.

Now, when it comes to make offer you are more flexible in getting top dollar out of the buyer, because you can usually tell where the buyer is willing to go with the first offer. But the draw back to this is, I may miss out on a sell because the buyer does not want to go through the whole offer/counter offer process and will just get a similar name at BIN.

the "first offer" should not be taken as a "sign" of how high the buyer will go.

as we all know, lowballing is rampant, and it is the "seller", who if not skilled in the whole "offer/counter offer" process will most likely sell for less....than one who has more experience, confidence and patience.

So the Buy It Now, Make Offer thing really comes down to the name. For example, if I own ChicagoDogWalking (dot) com, I would most likely list it at BIN less than $500, because I know my target buyer would be a dog walker or small business and does not have huge amounts to spend on name. Now if I owned a one word generic .com, I would mostly likely list it at Make Offer, because I may get a crazy 7 figure offer or something. So it depends on the name.

though I agree that it comes down to the domain, as to how one would set pricing, if I owned that name above....I'd be asking mid $,$$$.

why?

have you checked the rates dude

Prices range between $12 to $18 per visit, for an hr. or less depending on which service

100% agree. I've never read anybody's description anywhere except Flippa. There I'd say it makes a difference..

probably because majority of buyers and sellers, are domainers.

and you know how some of them love gkwt numbers

2) TIME : Give it the right time to sell.

that is a key point to profit, because you have to consider not only "right time to sell, but right buyer to sell the domain to".

Good Luck!


imo...