Domaining MBA Monday: 3 Ways NOT To Respond To Inbound Offers On Your Domains

Domaining MBA MondayHello, Happy Monday, and welcome to Domaining MBA Monday here on MorganLinton.com! Today I wanted to talk about a simple topic but one that typically plagues new Domainers – responding to inbound offers. Sure, it might sound simple, someone puts an offer on your domain name so now you can sell for the price you dreamed of right? Wrong. This is where the negotiation process begins, or ends depending on how you respond.

First, before responding to any offer you should try to find-out as much about the buyer as possible. You should understand if the buyer has bought any other names recently, the price they paid, etc. DomainTools can be your best friend here and couple it with NameBio.com and you have a great way to better understand who is making the offer.

Once you know who is making the offer, then comes the response. You could blow it, or you could close a deal and how you respond, and how realistic your price expectations are have a lot to do with it. Below are three ways NOT to respond to inbound offers on your domains:

  1. “Thanks for your interest in my domain name. A domain like this could really help you take your business to the next level and rank well online. A good domain name says a lot about a business, blah, blah, blah” – I see far too many of these and having tested with them extensively I can tell you, they scare people away. It sounds like a sales letter, heck you already know they want to buy the domain, don’t make it sound like you’re desperate to sell and trying to come up with reasons why they should buy it.
  2. “Your offer of $xx is ridiculous  you’ll have to come way up to buy this name.” Being rude will get you nowhere. A $50 could turn into a $5,000, you never know. Remember, most people don’t know much about domains and domain pricing, that doesn’t mean they don’t have a budget but it might be up to you to educate them.
  3. Don’t respond – last but not least is not responding. Too often Domainers get offers on their domains but they consider the offers so low that they ignore them. If your business is exceeding your expectations and you’re making more than enough money to wait, then don’t worry about responding. If, on the other hand you are actively trying to move names then you really shouldn’t ignore any offers, period. I’ve had offers under $100 turn into sales over $1,000, it can and does happen, but it will never happen if you’re ignoring their offer.

{ 2 comments… add one }

  • Joe September 30, 2013, 10:07 am

    Being passionate this post, and to say of myself, I’m not even hide a good salesperson domain name, I can find purchase and register good domain keywords and others less so, in the long run to find a good money some others, I have a small portfolio but I think good enough to be what being a Domain Investor student, who begin to learn and eventually be something best.
    Thank you all for your help and especially for Morgan

    Reply
  • Nick September 30, 2013, 12:12 pm

    Two scenarios:

    1) Someone emails me, “Hello Nick, is your domain name X for sale?” I respond, “Hello ! Yes, XXXXXXXXXX.com is for sale. What is your offer?” No reply. There are no responses even to a follow up a week or more later of “Hello again ! Are you still interested in XXXXXXXXXX.com? Keep us posted if you are.”

    Happening once or twice might be spam or phishing but this has happened many dozens of times and most recently the other day again. Getting tired of that but like you say in #3, not replying is bad too.

    2) How can you find out about the buyer when smart buyers make inquiries behind false email addresses, even other people sent to inquiry on their behalf? One sale, I had what I thought was a kid asking about a domain name for sale. He checked out on gamer forums and even ebay as a kid. Eventually this “kid” and I agreed on an amount. A day after the sale I checked the WHOIS and it become a domain in the collection of some brand acquisition attorney (there were no trademark issues on the domain). What it was, a very large company with very deep pockets was thinking of creating a product with the domain name as its brand. So they got it a deal on it by sending what was probably either the CEO’s kid in or the attorney’s kid in to negotiate.

    Answering incoming solicits is as difficult as cold calling!

    Reply
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