| As an aside to answering your question the toughest thing is dealing with someone overseas because you can't sense the nuance in their writing or (if verbal) their voice. The english many times is broken and that messes up all the patterns. Here's an example that is playing out right now. Name offered for $6000. No other buyer for this name. If it doesn't sell it will probably never sell for 10 years. First offer from buyer: "Thank you for that. I could do $1200, but that is not really in his ballpark. If he changes his mind, please let me know. You are welcome to take that offer to him." What he did right: Made offer and made it seem like that's pretty much the range he will pay. "If he changes his mind let me know" as if he is going away. So a seller would think he can probably get $2500 out of this type of guy maybe for this name. (Nobody ever makes the first offer the best offer.) What he did wrong:
No time frame to transaction. No sense on the sellers part that he could loose the deal. No sense that other names are even being considered (even though that's normally bs and can backfire). Reply from seller: (A short sales spiel showing why others would want the name) ending in "he might do $4000 but I have to clear that...". Reply from buyer: "Please ask him about how low he will go. I will see if I can get there." What he did wrong: He essentially didn't barf at the $4000 for the name. He gave no kickback. So seller knows he can get that amount most likely. And maybe more. Seller: "Ok I will find out" (or something to that effect). Buyer writes back quickly again: "I am feeling pretty good about that. I think we can do it or very close to that." Somewhat good: "I think we can do it or very close to that".
That essentially says he will pay the price but he gave himself a little wiggle room. Bad: He replied to quickly to the email showing he was very eager. Time and tempo are important. Then he writes back again a minute later to say he is ok with the escrow company and will write back soon. So he completely telegraphed his intentions. Even though he hasn't really agreed to purchase. By the way this was a lawyer as a buyer. And this is the same stuff that happens with 6 figure domain sales as well. So the deal right now is going to happen at $4000. The seller is fine with that price and doesn't want to loose the deal for fear he will get nothing. In this case the buyer overpaid if he handled it correctly he could have had this name for $1500 about. And as mentioned multiply by 10 and the same stuff happens. |