For most of my domain names listed for sale on Dan.com, I have a Buy It Now (BIN) price, a Lease to Own (LTO) option, and a Make Offer option. IThe majority of prospects choose the Make Offer option and submit an offer that is close to the minimum permitted. The next most popular option selected on my names, I would guess, is the LTO option.
In the last month, I’ve come across an issue two separate times on Dan.com. Prospective buyers made offers that were accepted and then stated they want to pay over time. In one case, the prospect accepted a counter-offer, and in the second case, I accepted the initial offer. Both prospects then asked the Dan.com agent handling the deal if they can use a payment plan to buy the domain name.
In the first case, I told Dan.com that I would permit the buyer to pay with a payment plan. The ROI was high enough that I could justify the payment plan. Despite the Dan.com agent’s efforts to re-connect with the prospect to discuss the length of the payment plan, the person disappeared and did not buy the domain name.
In the second case, I told Dan.com that I would not permit the buyer to use a payment plan. I accepted the offer on the assumption payment in full would be made. If the buyer would not be able to do that, the deal can be canceled and he can choose a payment plan based on the original asking price. The deal was agreed to on Saturday evening, and so far, Dan.com has not heard back from the prospective buyer.
What I will likely do is remove the Make Offer option on domain names I believe are priced fairly. On the other names, instead of presenting a counter-offer right away after rejecting an initial offer, I will ask “if I reduce the price to $X, can you pay for the domain name by Y date?” At this point, they can ask about a payment plan or confirm when they will submit payment in full.
