So you log on to your computer to start your day. Check a few emails and then BAM…you see you’ve just received a new inquiry for your domain name. This person has even made you an offer. Yep, a huge offer of $10. So what should you do? Should you ignore them? Should you write back?
First do this…
Give yourself a fist pump. Even better, a chest pound. Yeahhhh, pound that sh*t! That means you have something that someone else sees value in and is willing to PAY you for it. That my friends, is business 101.
Ok so this topic can get a bit controversial. Have you ever received an offer for your domain name and thought “WTF, this person is crazy. How are they going to offer me $10 for my domain name? Don’t they know this domain name is worth $25,000”. First off, chill out. There’s a high probability that your domain isn’t worth what you think it is. We tend to overvalue things that are near and dear to our hearts…
I’ve read and seen people make mistakes in handling a situation like this. The mistakes are…
- Ignoring the offer
- Replying angry at the offer
- Giving them a ridiculously high price for the domain name so they leave you alone
Let me break down why these are all things you and I shouldn’t do when we are trying to sell a domain name.
Ignoring An Offer
Lots of people will write us and tell us we’re stupid because ignoring works. It’s part of the negotiation tactics and that may be true but ignoring someone for an initial contact just doesn’t make any sense. Someone is interested in what you have and you’re going to ignore them?
Lets say you go to a yard sale and you want to buy a table for sale and it says “Ask for price”
You: Hey. That is a cool looking table man. How much for that table. I can offer you $25 for it.
Seller: Looks at you, doesn’t respond.
You: So will you accept $25 for the table?
Seller: Closes his eyes, opens them, closes them, opens them and notices your still there. Looks around. Keeps staring at you.
You: WTF, why can’t you tell me your price for the table?!
The interested buyer goes to Ikea and gets a similar table because they decided to have a CONVERSATION with him and let him know the price.
Here is where ignoring can possibly work. When someone contacts you with an offer you don’t like, you reply to them and let them know you either don’t like the offer and/or you let them know the price your willing to sell. If then they give you another lowball offer, you MAY want to ignore them for a few days because if interested, they will up the price for whatever it is you have.
But still, we always want to be in communication with a potential buyer because that is how business deals get worked out! Communication.
The Angry Reply
When you reply angry to someone, you just look stupid. This is especially true when it comes to domain names. Did someone just kick your dog or something? Why are you so mad. Relax. Lay off the steroids and come back to earth.
More than likely, a potential buyer wants to see how low you will go when looking to acquire your domain name. I am sure many of you reading this do this ALL THE TIME. You low-ball people to try to get something for the cheapest price possible.
We do it. You know you do it.
Any business you conduct online should be somewhat professional. Sure you don’t have to have the entire corporate feel to what you do but cursing at someone for offering you a super low offer on a domain name, really? This happened to us.
We offered someone a really low price on a name (mind you we were going to offer more later but why start high) and they replied something like “Leave me alone you ******”.
No wonder why some people think people who buy and sell domain names are jerks. It could be because people who reply to emails like the example above. Keep things professional. If you don’t like the price someone is throwing at you, just let them know what you are looking for. No cursing needed. No sarcasm needed. Imagine if you just blew a potentially HUGE DEAL for sending an angry email. It’s really not worth it.
Quoting Stupidly High Prices
Yes we know. Your domain is worth huge sums of cash. But more than likely, your over estimating it. Another thing we see being done is replying to a low ball offer with a crazy high price so this “tire kicker” could leave you alone.
Again, this person is someone you DO NOT KNOW and could seriously be interested in buying your domain name and may take it as a sign of disrespect. Do you really believe your domain is worth $350,000 or your just trying to get them off your back?
Before you send an email out from emotions, think twice. That person may have accepted an offer if you gave them a realistic price or answered them with respect.
Just Don’t Be A Jerk
Look, recently we had someone offer us $100 for a name we thought was worth a lot more. Did we get mad and tell them to piss off? No we got amped! The first thing that came to my mind was hitting up Taco bell because it’s were we have celebration meals. Cheesy bean and rice burritos….7 Layer Burritos…the joy.
Ok so obviously this was not the buyers BEST offer. We countered with a price we wanted. We also replied to them within a respectable time. We didn’t write back the next minute they wrote us but within about 1 business day.
And ya know what happened?!
We struck a deal and both sides were happy!
It’s not rocket science. It’s giving yourself the ability to understand the other party and communicating effectively.
Any thoughts or suggestions? Let us know below.