Why I Respond Quickly to Inquiries and Offers | DomainInvesting.com
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Why I Respond Quickly to Inquiries and Offers

17

Generally speaking, I try to respond to purchase inquiries and offers for my domain names very quickly. I know that some people prefer to wait and/or respond slowly, but for my purposes, I like to respond quickly and keep an open line of communication with the prospective buyer. Before replying, I try to find out as much information about the buyer and why they want my domain name, and I do this quickly.

I want to share a few reasons for why I tend to respond quickly, and I invite you to share other reasons why a speedy reply is beneficial. I also invite you to share reasons for why it might be beneficial to respond slowly (or not at all perhaps) to offers and inquiries. I certainly could be wrong about my negotiation strategy, and I am interested in reading your thoughts on the topic, too.

  • Looking at other domain names – If a buyer is considering several domain name options, I want to make sure that I get him a price rapidly. In many situations, I am happy to sell a domain name for a fair price, and I wouldn’t want the prospect to choose another domain name while awaiting my price.
  • Project that fails or gets killed – I would imagine that the failure rate is high with most startups and corporate projects. I wouldn’t want a prospect to decide to go with an alternative domain name or use something temporarily before buying my domain name only to learn that the project was not successful. They could also have a higher than expected burn rate and not have the capital to buy my domain name in the future.
  • Fleeting ideas – I frequently have great flash in the pan ideas, and I try to buy a perfect domain name for the project. Sometimes these projects fizzle out (lose interest, decide it’s not worth the time…etc), and the extra time may cause a prospect to opt against purchasing the domain name.
  • May have money right now but the situation changes – Over time, the financial situation of a buyer might change. They might be flush with cash due to a great quarter, tax refund, or some other reason. Delays in response can mean the prospect spent the allocated budget elsewhere.
  • Time constraints -The prospect may have a specific need for a domain name at the time the inquiry is made, and the need dissipates after a period of time. Why take the chance that the needs have changed.

About The Author: Elliot Silver is an Internet entrepreneur and publisher of DomainInvesting.com. Elliot is also the founder and President of Top Notch Domains, LLC, a company that has sold seven figures worth of domain names in the last five years. Please read the DomainInvesting.com Terms of Use page for additional information about the publisher, website comment policy, disclosures, and conflicts of interest.


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Comments (17)

    Red

    All great reasons to respond quickly. Makes sense.

    August 26th, 2014 at 1:33 pm

    Lloyd

    Not only do I immediately respond to inquires and offers for one of the few domain names I own,I also immediately respond (unless automated) to people trying to sell their domain name(s) to me.It’s just plain courtesy which is lacking nowadays.

    August 26th, 2014 at 1:58 pm

      Elliot Silver

      I generally respond, but I have found that sometimes when I respond to someone who sends 10 crappy domain names, a response elicits more attempts at selling crappy domain names. I don’t want to subject myself to several additional emails with crappy domain names as a result of trying to be nice by giving the courtesy of a reply.

      In reply to Lloyd | August 26th, 2014 at 2:03 pm

    Jamie Zoch

    It’s amazing the amount of domain owners that do not reply at all to “interest” emails. They really get scared shit less when you call! I have buyers willing to really “over pay” for a domain that the domain owner will likely never use… but they do not reply.

    I understand that not everybody wants to sell, but a kind.. sorry I do not wish to sell is better than nothing.

    A lot of brokers are working with buyers, so it’s wise to reply if you want to sell. You never know where your reply is going to lead and how much $$ could be behind a simple contact. No reply = no chance!

    August 26th, 2014 at 2:07 pm

      Elliot Silver

      Maybe they have a Whois email that auto forwards to junk figuring a major buyer will use a PI to figure out who they are and make a huge offer.

      In reply to Jamie Zoch | August 26th, 2014 at 2:10 pm

      Jamie Zoch

      I always use whois email first or any contact info on the domain directly. Then I dig if I have to via phone or really dig if needed…. if the owner makes it that hard, most of the time it’s just easier to move along to the next domain.

      It is very true that interested parties have a short list of potential domains they “would like” to purchase. So it depends if you want to sell or not or move on to the next.

      In reply to Elliot Silver | August 26th, 2014 at 2:16 pm

      Elliot Silver

      Makes sense. It is frustrating when someone doesn’t respond to a “fair” or better than fair offer though.

      In reply to Jamie Zoch | August 26th, 2014 at 2:17 pm

      John

      Personally I don’t care for the phone calls at all. I have no desire or intention whatsoever to speak to anyone on the phone when they want to buy a domain from me. It hasn’t happened much, but I never call back. Furthermore, even if they do leave a voicemail, at least they could include an email in their voice message in case (drum roll) the person they’re so interested in buying a domain from may prefer using that medium. Maybe if someone was after a seven figure purchase with me or something in the high six I might consider being willing to be on the phone, but that’s about it.

      In reply to Jamie Zoch | August 26th, 2014 at 8:28 pm

      Red

      I’ve met a bunch of well connected buyers who have interesting deals who have called over the phone…does not bother me. I do like e-mail better but if someone wants to call I communicate.

      In reply to John | August 26th, 2014 at 8:54 pm

    Lloyd

    Try it,it doesn’t hurt to be nice.

    August 26th, 2014 at 2:44 pm

      Elliot Silver

      I respond to 90% of the people who send me names. IMO, it’s sort of like the old adage about clicking a link in an email shows the sender that your email address is operational, monitored, and you may be a prospect for whatever crap they want to send you.

      99.99999% of the time the reply is “Thanks, but the domain name(s) is not of interest.”

      Interpreted more bluntly, that means “I wouldn’t even take your domain name if it was given to me for free”

      If you’d like, I can suggest that these people email you, and we’ll see how long it takes for you to stop replying. :-)

      In reply to Lloyd | August 26th, 2014 at 2:46 pm

      Vinod

      That would be true, while you say “that you do not need them for free” but that one line would be more than enough for the other person to know that you are not to be disturbed again. There are many people who come to this world, people all over would not have the advantage that you might have with domains, so when they send you something they value what they have but you do not value them since they are not of value to you. Making them know that IMO is a nice thing.

      In reply to Elliot Silver | August 27th, 2014 at 8:01 am

    Jideofor

    @Jamie Zoch,[I understand that not everybody wants to sell, but a kind.. sorry I do not wish to sell is better than nothing.]

    what about cases where a potential buyer also wouldn’t say, sorry I am not interested,instead of just keeping silence? How I dislike it when they do that!

    August 26th, 2014 at 2:59 pm

    robb

    I agree with you, but by responding quickly I’d say respond within 45 or 60 minutes at the earliest. If I’m checking my email and an inquiry comes in, I wouldn’t respond within seconds or a few minutes because it might give the appearance of being too eager to sell. Probably by the time you do your research on who the buyer is, what they might want the name for, and decide on a price or make offer approach, and think a little more, enough time has passed to respond. I definitely try to respond within 24 hours if I’m able, which I think is reasonable if I was in their shoes waiting for an answer.

    August 26th, 2014 at 4:33 pm

    Raider

    Agree on all points, especially when a potential buyer could be considering other domains, this is a huge reason to respond in a timely manner IMO.

    As for waiting, I DO play the game but I save it when I’m in negotiation with the potential buyer, you never want to give them the idea your anxious, once you do that they figure they have the upper hand and will try to get it for the lower price possible, more often than not…. I feel I may have broke my own rule when I followed up on a recent inquiry, unaware that I did it, Looking back I should have never made that call.

    I’ll know next time :)

    August 27th, 2014 at 12:03 am

    Tuk

    Replying quickly to inquiries and offers applies to all sorts of businesses and it shows that you’re interested to make a transaction. But sometimes it works to reply late for domains on which you had offers earlier.

    August 27th, 2014 at 5:49 am

    Rod

    Elliot/Others,

    If you’re sending emails to prospects to sell your domains, which email service has got you better results? Gmail, Yahoo, etc, or one which is on the domain you intend to sell?

    August 29th, 2014 at 5:40 am

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