Ask for Their Selling Price
I regularly receive domain name inquiries from people who make an offer that is significantly lower than what it is worth, even on the wholesale market. When I share my asking price, some of these people are surprised or even upset that the price is significantly higher than they would expect. I want to share a way to turn the tables in a way, and perhaps you can give them a bit of a better understanding about the value of the domain name to you and your company.
When you are in a situation like this, try to see if that person owns any domain names. DomainIQ and Whoisology both offer tools that allow you to search for the person’s name and/or email address. Use these tools or even use Google to find a domain name that is owned by the person who inquired. It would be even better if you can find a domain name that is developed or slightly developed.
When you find one of their domain names, ask the person what they would take to sell their domain name. My bet is their price will be high or they will say it is not for sale. When they give a high number back, or if try to explain how the domain name is valuable to their business because it makes them money, you can explain that the same thing goes for your domain name. When I am discussing an “expensive” domain name with someone who inquired, I like to let them know that PPC links generate passive revenue for my business that is greater than the cost to renew it annually, and this revenue is helpful to my company just as their domain name’s revenue is helpful to their bottom line.
I have done this a few times in response to protests about my pricing, and it seems to work. People frequently do not look at a parked domain name as anything more than an “unused” domain name. When you explain that it is actually being used for more than just a for sale landing page, it can give them some needed perspective. This doesn’t often result in a sale, but it can help prevent a tumultuous negotiation and perhaps give the other person a better idea of why a domain name has additional value.
Reach out to Elliot: Twitter | Google + | Facebook | Email