How do I get buyer to up their offer?

[MDUK]

Hi, not really a seller, tend to buy domains I like, it used to be with a view to develop and then reality kicked in, i have only ever developed three! so I have let a number go because of that, however...

I was approached about one of my domains with a XXX offer, which I politely turned down but said come back to me in the future, happy to discus. Today I get another email offering XXXX. The truth is it is similar to their business name (small company) but better than what they are currenlty using.

I would like some advice please on how to go back and basically say, we're getting closer but it would need to be ... before i would proceed.

Thoughts?

 

[bensd]

It depends on whether your just trying to get them up for extra cash or not. ie. would you take the offer on the table or would you be happy for them to walk away?

 

[MDUK]

fair question, I think the offer on the table is a little low for what it could do for them

 

[spiderspider]

Hi,

Thanks for your offer of XXXX, but I would be happier to accept (Higher) XXXX

Let me know your thoughts.

Thanks

MDUK

Maybe make your 'happier price' the different between real price and their offer x2. That way, if they say meet in the middle, its the price you currently have in mind, and gives you room for more negotiation.

Obviously this is all presuming their offer was something like 1250 and you want 2500. If their offer was 1250 and you want 7500, then just let them know you want alot more.

 

[redbird]

fair question, I think the offer on the table is a little low for what it could do for them

"..do for them..." sounds like a valuation based on one potential buyer, if they walk away what are the chances of getting what they have offered from somewhere else, i.e a domain valuation rather than increasing the price because who they are?

I'm not knocking getting as much as you can, I do it, but be prepared for them to walk away and if they did consider what your price would be to an anonymous buyer, would you sell for the offer on the table?

 

[BG]

Simply reply with...

----------------------------------------
Thank you for your kind offer regarding the domain 'X'

To save time on emails going back and forth. The price i would be willing to sell this particular domain for is 'XYZ', anything below this figure is of no interest as i have plans to develop this name in the future.

Kind Regards,
-
----------------------------------------

If you're NOT happy with their offer, simply tell them what you want for it.

At the end of the day a domain is only worth what someone is willing to pay for it so it. If you think there are other buyers out there who may approach you in the future then stick to your price, however, if these guys are your only port of sale you will have to gage how far you can push them before they muck their cards and call it a day.

Never be afraid to ask for the order...

Best,
Barry

 

[scottmccloud]

In view of what seems a pretty dire market for uk domains at the moment...

How many potential buyers are there for your domain? Is it a reasonably popular generic term that a good number of businesses could be interested in? Or is it quite a specific term with a very limited number of genuine prospects?

If it's the latter, you could be biting your nose off to spite your face by asking for more. If it's the former then you're probably right to hold out.

 

[Bailey]

From your initial post, it reads as the domain being somewhat limited in overall market appeal (i.e. more of a two word memorable - rather than a descriptive term) So that tends to put it into the camp of the .COM, NET, and CO.UK taken, and little Else. Which is usually my indicator to keep things reasonable. However if it's been taken across the board that's a different matter. There's No-Harm in referring to 'What it would Cost you to replace' in terms of a Good Catchy Generic. If that's where you think it's appeal lays. PS I have assumed it's a co.uk domain

 

[mat]

One thing I have learnt over the years is that if someone really wants a domain name, they normally will hassle you until they get it. So name your price and wait for them to get as near as possible or buy it at that price.

If they don’t reply, well they probably weren’t that interested in the domain name to start with and in some cases even when you accept their offer you never hear back from them.

 

[MDUK]

Thanks everyone. Its fairly generic however it's also their actual business name. It would be a shorter version of what they are currently using but it is therefore probably only them that would really want it.
Barry has summed it up, it's how far I can push it before they throw their cards in.
I've had some good suggestions so ill word an email back

 

[Murray]

Barry has summed it up, it's how far I can push it before they throw their cards in.

You have to be fine with it not selling it you're going to push it

If you're happy with what they're offering you should take it, unless as above, you're willing to lose them.

 

[accelerator]

Just reply saying "I was looking for X on this domain, would you be able to increase your offer?"

Make X twice what you view as a satisfactory selling price. Then let them counter offer. What you should not do is use language that restricts their ability to make a counter offer or your ability to accept one.

Rgds

 

[accelerator]

It is a basic negotiation skill to reply politely with a price of more than you are hoping for, wording it so that you entice them to counter offer you.

"I was looking for ... "

"It's a strong name and I feel it's worth ... "

"Thanks for the offer but I had a price of x in mind ... "

etc

 

[MDUK]

again, good advice everyone, thank you. its not an unreasonable offer in terms of its value stand alone, although i think it is worthe more, i don't really want to lose the sale by being greedy.

 

[Bailey]

As Peeps on Acorn Know, Normally always comes down to 'how much' (Or Not) the money offered comes in handy - always easier to hold-out when finances are strong. let us know how it goes ?

 

[MDUK]

All done, added about 70% to their offer. thanks for all the advice. #cherrypopped

 

[Bailey]

Nice one, And looking at the 'percentage' Probably around about where the Buyer was Willing to Go Given the term was nicely associated to their business. Any chance of Sharing the Name.. You can always inject a few 'X's' to keep things limited to Acorn readers

 

[accelerator]

Good one. So how did you play the negotiation?