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This negotiation turned into successful sale

Hello and Assalamo Alaikum,

There have been many times fellow domainers ask about how I negotiate and what messages were exchanged in the entire communication. As everyone knows that most leads don’t end up successfully but let me share one of the recent successfully completed sale in which I’ll include the communication from beginning till the end. But just for the privacy of domain buyer, I’ll exclude domain name and buyer detail.

Inquiry came in via Uniregistry lander on 7th April 2019 and concluded on 16th April 2019.

Buyer: I am interested in your domain depending on price.

Me: I gave price quote of $4888 and won’t share the exact template I usually use.

Buyer: OK thank you; my budget is $3,000. Do you have other domain in that range that are unique? I am trying to think of a new business name that also has a domain available at the $2K to $3K price range.

Me: Thanks for your offer of $3000 which is appreciated. 

We’ve hundreds of domains which fits your price range but below are some of them for you to check: 

Here I gave around 10 brandable domains to check if he is interested in any of those.

If you like any of the above name, let me know. Or please mention specific keyword/niche so I’ll check in our portfolio which fits your need.

Buyer: OK thanks, none of those would work. I am looking for words that relate to nature (water, trees etc).

Me: Thanks for sharing. Below are some names which will fit your requirement but few are above your budget.

Here I listed around 10 domains related to water/trees.

Buyer: Too expensive for me. šŸ™‚

Me: Yeah, I can understand. However, if you like to proceed with the purchase of xxxxxxxxxx.com, let me know.

Buyer: Thanks. I have up to $3K for a domain for a new business, name is TBD based on domain. I like xxxxxxxxxxx.com best but I cannot afford.
xxxxxxxxxxx.com is my 2nd pick so far and more reasonable for me. I own a domain www.xxxxxxxxx.com. If I can include that domain in a deal to close the gap I would consider. This was going to be my company name for many years but since i bought it long ago several new companies have come out with similar names like www.xxxxxxxxxx.com etc.

Me: Thanks for sharing your thoughts.

No matter you buy domain from me or elsewhere but I’ll give you honest suggestion. Using xxxxxxxx.com is confusing and three word domain. To cover up the typo/mistype traffic, you must have xxxxxxxx.com as well so there won’t be any leaked traffic. However, the best for sure is xxxxxxxxx.com and we’ve declined several decent offers to date on this one. But it looks like xxxxxxxxxxx.com could be the best match specially for you considering the budget.

In order to make a quick and fair deal, we would sell it for $4500 only.

What do you think?

Buyer: I appreciate your offer. That price is too high in my opinion looking at market value as well as value to me, however good for you if you can sell 
it for that much. For a purchase price of $xxx thats a great return. I am going to keep monitoring DropCatch for some other options. Good luck, if you look at your value/return again and decide you’re interested to transact, my email address is xxxxxxxxxx@xxxxxx.com.

Me: I can understand your point but purchase price doesn’t matter when selling any domain.

Thanks and wish you all the best in your endeavors.

Buyer: Thank you, I agree purchase price does not matter, just noting fantastic return. Congrats on your success I saw you sold symphony.com that is pretty cool. Best of luck.

Me: Thank you very much.

It’s unfortunate the deal didn’t go through but let me tell one thing, you’re a nice gentleman.

Buyer: Hi AbdulBasit, I appreciate your note. I have been looking around and still like this domain the best. I would purchase for $4,500. Let me know how we proceed.

The buyer knew how much I paid for the domain, most probably using NameBio and found out I acquired via DropCatch. It was good to see he understood that purchase price really doesn’t matter when selling a domain.

Also make sure one should never get upset if someone says you paid xx and now asking $xxxxx for it. Buyer always try to get the best deal and seller wants as maximum as possible.

It’s part of business so be prepared for everything coming your way. In short, always be nice with everyone.

Feel free to share your experience and/or if you like to give any feedback on the above negotiation.

From $16888 quote to $16888 domain sale

Hello and Assalamo Alaikum,

It was a fantastic last week of March where I closed two good sales. I had a great February month especially due to the sale of LiftLab.com whose detail can be found here in case anyone missed it. Last month wasn’t much of a difference when I closed the following two sales.

First, a direct inquiry came for BoostCamp.com via WHOIS in early February for which I quoted $6888. I got counter offer of $1750 which I declined. After going back and forth in exchanging several emails, the buyer agreed upon the originally quoted price of $6888. Payment was received last week. Unless the payment doesn’t arrive in escrow, I don’t consider it a successful sale as we’ve seen many potential buyers backed out with silence after even starting escrow. So all in all, it took more than a month to complete this deal. But all ended well as I didn’t need to pay any commission and pocketed full amount. By the way, I acquired the domain last year for low-mid 3 figures.

I used Sedo.com escrow and put the escrow fee to be paid by buyer. Sedo escrow service is better than Escrow.com mainly due to their not so much complicated verification requirements which is especially frustrating for one time buyer. Thanks for the members of NamePros who suggested using Sedo escrow when I asked I need to know some alternative to Escrow.com where I can receive funds in PayPal.

The only issue I face using Sedo escrow is when I initiate a transaction, the request goes to Sedo to start transaction whereas it should automatically be started like at Escrow.com. They must make it automated instead of current manual system which seems bit outdated.

Another sale was super quick and smooth. The buyer came via Uniregistry lander on Avellino.com which I acquired two years back for low 4 figures.

I originally quoted $16888. Buyer simply agreed to price and asked how to proceed with next step. Started Uniregistry checkout which is very smooth and easy to use. The only issue is their service fee which is on high side considering the escrow fee was paid by buyer and still their service fee which I’d to pay was $186. Still I’m happy using their escrow compare to Escrow.com. So currently I prefer using either Sedo escrow or Uniregistry checkout. In both cases, I put on escrow fee to be paid by buyer.

Feel free to share your recent domain sale(s) with any detail if you like to.

Some more great features added to DotDB

Hello and Assalamo Alaikum,

Almost a year back I published an article about a great service DotDB which I’ve been using it regularly or I say it clearly that on daily basis.

Since that time, they’ve introduced several new features which are worth sharing with you all. One of the most awaiting thing was to have exclude function and now it does have the function and some more additional new functions like Bulk Search, Export data, API access

What I would love to see them have is to reduce pricing for both Pro and Expert plan so it could be more reasonable especially for Expert plan. I can understand the hard work, investment and lot more involved but to be more competitive and have edge over your competitor, one need to offer a great overall service.

Also while frequently using both at Dofo and DotDB, I finally found the difference between results at both sites. Suppose you type in Print,Factory at Dofo to show results between space which shows the opposite result as well. I mean Dofo shows factory print, factory printing as well whereas at DotDB, when I type print factory, it shows results starting with print or the middle but factory word doesn’t come at first in any way. I think if DotDB adds this feature as well, would make it even better service.

I would suggest anyone interested in using on frequent basis must try their Pro plan for 7 days free trial. It’s worth giving a shot.

I’m sure the developer of DotDB (Lin) will take this feedback positively like in past as well and he’s a good fried of mine.

Feel free to give your feedback and Iā€™m sure Lin or his team would be happy to listen and implement it if necessary.

First five figure sale of 2019

Hello and Assalamo Alaikum,

It’s been long time since I reported my last five figure sale but it looks like the time has come which is the beginning of this year.

The inquiry came in mid October 2018 via Sedo broker Albert Schimmel looking domain for his client with budget in high 4 figures. Since my domain was listed with an asking price of $28,888 so there seems to be big gap. Since buyer’s identity is not disclosed until the sale is completed so you never know if there is any room for buyer to be flexible and come up close to asking price or even accept the BIN.

I responded by giving hint on having some flexibility if the buyer comes close to BIN. After going back and forth with broker in a period of one month, he said the lead is “pretty much dead”. After hearing such words from the broker, I realized the buyer don’t have the budget and will go for other option so I just thought to forget it….

And I really forgot it as well until last week…. when I suddenly received email from same broker after almost 3 months by saying he thinks of getting the buyer to offer $22,000 NET or may be a bit higher.

Now that was pretty much sale going to happen from a pretty much dead lead. Also it was quite close to asking price.

I accepted the offer but asked him to give a try of getting anything above that level but anyways of accepting this in case the buyer makes no move from this amount. I totally left on the sincerity of Albert who I believe gave his best all the way handling this deal and got the buyer to pay $22,500 NET which I suppose makes it $26,470 GROSS for the domain LiftLab.com. Correct me if I’m wrong.

Surprisingly the payment arrived in Sedo’s escrow account the very next day of initiating the transaction. And within next 24 hours, the domain transfer was completed and funds were released!

Thanks to Albert and Sedo team for making the deal so smooth.

Feel free to share your recent domain sale(s) with any detail if you like to.

Unique idea to help grow domain industry

Hello and Assalamo Alaikum,

I always think about making our domain industry more stronger than ever. I’ve come up with a simple but great idea and if this can be implemented, it will be helpful for all domainers participating in this great cause.

There are many instances where domainer gets hit with UDRP and just because of lack of funds, he/she is unable to respond back. Although there have been some cases where a domainer been hit with UDRP and don’t even bother responding having loads of $$$ and ends up even losing it. Well, I’m not talking such lazy domainers and we can rule them out for sure. Domainer including newbie, veteran, panel members or can be any one participate and donate funds.

So what my proposal is we can have 3 or 5 members panel which comprises of domainers and at least one IP lawyer. One of the panel members shall be collecting and sharing it publicly about the total collected and available funds.

Next step is we’ll urge all domainers who’re well capable and have adequate funds to donate on regular basis to collect as much funds as possible which will cover all the expenses from responding to UDRP utilizing the services of our IP lawyer and other expenses incurred if any.

Once we’re well set in terms of securing funds, any domainer who gets hit with UDRP and can contact us in order to seek help in responding. We’ll leave up to the honesty of that domainer to inform if he/she is having no extra funds to respond or can partially cover the fees.

There will be a criteria of minimum two things to meet before we proceed any further.

1) There has to be enough funds easily available with us to cover all necessary expenses.

2) Majority of the panel members MUST agree upon the case in hand is good enough to be responded back. Because we would not be wasting any money on obvious trademark domains.

If the above two conditions are met, funds will be allocated for that particular case and our IP lawyer will take it up further.

I would like everyone to chime in and give your suggestions and/or feedback.

Thank you!