A tip to convince buyer for your domain name

Hello and Assalamo Alaikum,

Last year I sold a domain through DomainNameSales.com and while dealing with the buyer in the entire transaction I learnt one new way of handling the buyer which will help a little more in convincing to buyΒ your domain name.

Let’s suppose after going back and forth during the negotiation process, buyer’s final offer is 15K and you are stuck at 20K. What I did was telling the buyer that “you wouldn’t be responsible for any additional fees either as I will cover the commission, Escrow.com fee, and all other associated fees.”

Now let’s pay attention what I wrote above… I will cover the Escrow.com fee and all other associated fees which both actually means the same in our business. But the buyers are not aware what all kind of other associated fees will be attached while I will be buying the domain.

I gave the above example which I used to conclude a deal successfully last year using the same trick. The only thing I changed was price above but the price difference was the same in my case!

There are plenty of inquirers and/or endusers of my domains reading my blog and when they will see this trick, they might get more smart in dealing but more important for me is to share whatever I feel is good and might be helpful among the domaining community. In short, you can call this mind game trick πŸ˜‰

Feel free to share whenever you use this trick and the after effects. Good luck!

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19 Responses to “A tip to convince buyer for your domain name”

  1. Tauseef says:

    I think it’s a good tip. We need to be clear with the buyer and covering all fees signals the buyer that he/she will not pay more than what is asked for. I reviewed the Escrow.com and read there ‘buyer guidelines’ which talks about the fee buyer may pay in detail.

  2. Omar says:

    Hey Abdul,

    I agree with what you are saying here. You are on point. I was giving this some thought and we are in the process of finalizing a deal with a buyer where we agreed to a 50/50 split in fees (they never questioned it from the start anyway). The way I see it is, as a seller why I am charging my buyer MORE to buy a domain name I am trying to sell to THEM anyway.

    By assuming the costs for “all other fees” you are offering extra value in the eyes of the buyer.

    Good tip Abdul.

    -Omar

    • AbdulBasit says:

      Thanks for sharing your ongoing deal detail. Good to see you coming here once again.
      I always put Escrow.com fee on buyer without discussing this particular issue with them because in reality buyer has to cover up all the fees even while buying physical property.

      On the other hand, I like the way you see it while selling the domain πŸ™‚

  3. Krishna says:

    But, it may backfire if he/she says “I will cover all those if you sell for $15,000”.

    anyway, good tip.

    • AbdulBasit says:

      Hey Krishna,

      I don’t think it can ever backfire unless the buyer is very well educated to domain buying. As my buyers are mostly first timers so they almost never know what all those other associated fees can actually mean πŸ˜‰

      • Vishal says:

        These days people don’t just buy things that easily, they usually read the different blogs, forum and other stuff before buying a domain name. This might have worked for you sometimes but I doubt it’s going to run for in long term. Call yourself, lucky.

        • AbdulBasit says:

          Giving it a try won’t harm you in any way. Also it had worked all the time with me so far whenever I used this it.

          However, as mentioned earlier that “my buyers are mostly first timers so they almost never know what all those other associated fees can actually mean” so it can go in your favor too. Just need to have confidence in yourself and have give it a go.

  4. zamaan says:

    Hi basith,

    what if the buyer wrote like this :

    >>Escrow.com fee and all other associated fees
    what do you mean ‘all other associated fees’ here?

    • AbdulBasit says:

      That’s a good question Zamaan!

      First up, the buyer will not ask because they have no idea if there are any other associated/administrative fees with buying domain than Escrow fee.

      Secondly, if someone ever ask, you may tell that you just don’t need to bother about that and leave rest upon us to handle it. You will only be responsible for the wire transfer fee at your bank.

      On the other side, there can be fee charged from our lawyer for making draft agreement if the sale is of higher amount or to prepare lease to buy agreement so that can be covered by us but in normal circumstances, the above method applies nicely and no one really bothers. And if someone does, he will definitely be a pro in buying domains and have bought many in the past πŸ˜‰

  5. Mike says:

    love to hear more from you.

    great share.

  6. MohammedSameeruddin says:

    A good smart trick. Got a new point now. Thank you

  7. Stu says:

    It seems me and you do lots of battles over domains in auction LOL you run me up and i run you up, maybe cost us thousands per year LOL

  8. Nice, useful article, Thanks Basit πŸ™‚

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