Hello everyone,
Today I would like to share my little experience of selling domains on payment plan. Although I’ve had very little experience in doing this and I know there are some domain investors doing this on regular basis.
So to date I’ve had experienced 3 payment plans. Very few in numbers but at the same time very exciting journey which I’m sure at least some of you’ll enjoy reading it. I’ll share the surprising part at the later stage of my post.
It was in 2015 when I first started with payment plan in the shape of MediaLounge.com for $16,560 on a 24 months period. We’d an agreement in place and did all the work before both parties got agreed upon. Received very few payments but within the same year, the buyer said they’re no longer interested due to some changes in company and this domain is no more required. The deal was cancelled and domain is still with me.
Second payment plan was on Kuneco.com for which I quoted $1,988. Buyer had no money to buy in one shot and preferred to buy on a 6 months payment plan for a total amount of $2,200. Started in the last quarter of 2019 and completed the deal this April. It was great pleasure doing business with this particular buyer. Such a nice and humble person.
Third and last one so far happened in last month MarketPal.com for $4,500. The actual deal was the final payment be made by September 2020. Somehow the buyer got good business at his end and wrapped up the deal within the last month which was surprising to me. Another great person to deal and a great negotiator as well.
Now the biggest surprising thing is ALL the above payment plan deals happened privately WITHOUT using any escrow service. Each of the buyer believed in my business practices and I give a lot of credit to the blog I developed in 2012 and of course to my readers and commenters who likes sharing my experiences.
Feel free to give your feedback, no matter how good or good it is 😉
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Great read Abdul. Congrats on the lease deals. Hope you sell many more.
Just wondering how the buyers paid you every month and were they ok you holding the domains while payments being made ‘without any escrow’?
Thanks.
Thanks dear 🙂
For the first 2 buyers they paid via PayPal every month. The last one was paid via TransferWise.
None of those were hesitant much in dealing privately without using any escrow holding service. Yes, they cleared their doubts before making first payments like whenever changes is needed like nameservers, will I do it multiple times (if needed) during the payment plan period, etc.
Ok, thanks for the details.
Looking forward to more stories 🙂
Another nice experience share Abdul Basit. Without Escrow it’s not possible until you have created trust. For trust, you must be following some honest business practices. And you have been blessed with it. Ma Sha Allah.
Thank you my friend!
Abdul bhai always feel great seeing yours sales and yours sharing… Without escrow service…. Great Abdul bhai..
Glad you always like it Wajid bhai 🙂
Thanks for sharing Abdul Bhai
Thanks Mohit dear 🙂
Great Share sir, your blog really help me to grow, these days I am offering 6-months and 12-months payment plans for outbound leads. Thanks again for sharing your experience.
Thank you Harman bhai 🙂
I’ll openly say that your sales inspire me and I’ve learnt from them. Seriously your acquisitions are not of my type and when I see such sales, I love to go through each of them and try to dig it deeper to learn from it.
Keep sharing and that’s how we learn from each other 🙂
Congrats and thanks for sharing, The payment part is bit intriguing though..
Thanks!
Yes, I agree with you.
Super effective way of converting a low offer to desired price sale Abdul bhai.
Your feedback is very much appreciated and gives lot more confidence 🙂
Abdul, you’ve done a great job with your sales. I think your credibility served you right. Payment plan is not always certain for a full payment.(90% of payment plan deals are always not successful). In all, payment plan is an excellent strategy in the domain competitive market & provides no refunds if buyer stops payment. Can’t wait to read something from you again. Thanks
Thank you so much for your kind words and feedback.
I believe my blog has played a big role for people to have faith in me and conduct business directly. And of course, all my readers, followers and who comments adds more value to it which I can never forget it.
On the other hand, you asked for it and here you go https://www.abdulbasit.com/domaining/afternic-experiment-of-june-2020
Thanks!