So here’s an interesting question that I know all of us likely have a different answer to. First things first let me be a bit more clear than my headline. I’m not talking about a $10,000 offer on a domain you paid $25,000 for, I’m talking about a $10,000 offer on a domain name that you paid say maybe $500 for and would be happy to sell for $2,500 and $5,000 would be a slam dunk.
The point is. You got an offer that’s a lot higher than what you were looking for, so in your head you’re celebrating, doing a little dance, heck maybe you’re even starting to pop the champagne.
The prospective buyer doesn’t know that this is more than what you were looking for. As we all know, the first offer a buyer makes is rarely at the top of their budget, so what do you do? Of course it’s not fair for me to ask a question without answering it so here’s my take. I usually aim for 2x or 3x the offer to see how they respond. If it turns out that’s too much, it’s easy to come back and say – okay let’s split the difference and still end up with a lot more than you were hoping to get.
While a similar scenario has happened to me a few times in the past (no it doesn’t happen to often, to me at least), it just happened to a friend of mine last week who came to me for advice. I told him to counter at $25k and see what happens. What would you do?
I want to hear from you, comment and let your voice be heard!