We Are All Different

Elliot Silver
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One thing everyone who reads domain blogs, forums, and other informational domain industry websites should keep in mind is that we all are in different financial situations, come from different backgrounds, have different expectations, and have different financial interests. Yes, this is obvious, but it’s important to keep in mind when reading advice or suggestions anywhere.

I regularly see people soliciting advice regarding a particular situation. This is often related to an inquiry or offer on a particular domain name. The advice that is shared is usually diverse, but some would certainly lead to bad outcomes. While it may be good to get outside opinions, I don’t think it’s necessarily helpful when it comes from people who are likely in vastly different financial situations and have different backgrounds. The right move may be to accept an offer, but listening to advice that recommends spurning the offer can kill a deal that may be critical to the domain owner.

In addition to this type of situational advice, everyone has their own

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Get Through the Email Clutter

Elliot Silver
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Spam is a fact of life. Everyone gets a ton of spam. I would imagine domain owners likely get targeted for very specific spam emails related to domain names, SEO, web development…etc. This means that domain buyers and domain sellers need to do something to get through the clutter.

One thing to keep in mind when emailing to buy or sell a domain name is that the recipients are not always particularly tech savvy. Many likely are concerned about security threats like phishing, and when they get domain name related emails, they are concerned that the sender could have malicious intentions. I would probably feel the same way due to the types of emails I see.

I don’t like to write long winded emails. I feel like the

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5 Deal Closing Incentives

Elliot Silver
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When negotiating a domain name purchase, I regularly encounter a bit of turbulence. Usually it happens when I make some sort of best and final offer and/or the domain name owner makes a best and final offer and we are left far enough apart that there is a material difference in our positions.

I thought about several ways I have been able  to close deals that I want to share with you. Sometimes, none of these will work, especially when there is a considerable gap between valuations and offers.  In addition, I have found that even smaller concessions can be helpful, especially when it comes to someone who seems to refuse to budge on a number out of principle.

Here are 5 deal closing incentives that I have used to varying degrees of success:

Add a few extra $ – When your offer is fairly close to the seller’s price, it may make sense to offer a bit more money. If the deal is good, a few percentage points won’t likely hurt. I won’t spend more than my comfort level, but I can generally find a bit more money if it means closing a deal.

Promise immediate payment – Although this is always a given for me, I let the seller know that I will pay right away. This may get them to think that other people might not pay right away or would need to line up financing (especially if the domain owner isn’t too familiar with domain name sales). Knowing that they will have a nice wire transfer into their bank account within a day or two can be a powerful incentive to closing a deal.

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$5,000 Domain Name Offers

Elliot Silver
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I recently received a few $5,000 offers for domain names I own. Based on several factors including the  email addresses, the information in the emails, and a couple of other things, I believe these are mass emails sent to many domain owners. My opinion is that the sender goes through all of the affirmative responses and decides which to pursue and which to ignore.

I assume some people are very happy to get a $5,000 offer for a domain name only to be let down when they don’t receive a response. I also assume some people get annoyed by these $5,000 offers because their domain names are worth much more than $5,000. Others find them annoying because nobody responds when they wish to begin a discussion, as a $5,000 opening offer is usually enough to at least open a dialog.

One takeaway from this is that

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Domain Name Buyer Broker Can Help Buy Domains

Elliot Silver
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When I think of a domain broker, my first thought is that these people represent the owners of domain names who are looking to sell them. There are also brokers  that specialize in representing companies and people who need to acquire a domain name. These domain name buyer brokers serve an important role in the facilitation of domain name deals.

Over the course of a year, I receive quite a few requests from people to help them acquire a domain name. I almost always recommend that these people work with a domain broker to purchase their domain name. I want to share some of the reasons why I suggest this, and I asked three domain name buyer brokers to offer their thoughts. Adam Strong of Evergreen, Bill Sweetman of Name Ninja, and Alan Dunn of NameCorp all shared their insight about using a domain name buyer broker.

Setting expectations – Many people have no idea what a domain name in the aftermarket will cost, and a broker can help set expectations. “A Buyer Broker can help a client understand what sort of budget is realistic for their domain acquisition,” Bill Sweetman told me. “Buyer Brokers should have an extensive understanding (and access to data) of what comparable domain names have sold for and are currently selling for,” he continued. This can ensure that the buyer has the budget for the domain name that is desired. Setting expectations at the outset is important, otherwise it could waste everyone’s time.

Pricing – I would imagine most domain owners’ prices are dynamic. If they

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Ask for Their Selling Price

Elliot Silver
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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

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