Be Persistent to Get Your Domain Name

There are a number of domain names that I would love to own. I would even be willing to pay full retail value for some of these domain names. The problem is that the owners have no interest in selling them for whatever reason. Being persistent is one way to get your deal done.

I want to share a non-domain name related story that could easily be a story about buying a domain name. It’s about a “tiny car” collector named  Bruce Weiner and how he was able to purchase a rare  1955 Kroboth Allwetter-Roller. Here’s how he was able to get the deal done according to NBCNews.com:

Weiner heard that a prized example of the car was owned by an older man in Bavaria. Weiner traveled to the man’s house every three months for three years, but the seller adamantly refused.

‘He chased me off the property every time,’ he said. ‘He either met me with a shot gun or German shepherds.’

Eventually, the owner died and Weiner befriended the man’s sister and brother, and convinced them to sell.”

Now I don’t recommend chasing people down to try and purchase a domain name. However, if you email them on occasion to remind them of your interest and willingness to pay a fair price, you might get lucky and be given an opportunity to purchase the domain name.

There are a couple of factors to consider. First, you need to be willing to pay a fair price. Many people would sell their domain name if given a good offer. Just because someone is blowing off your $2,000 offer on their 3 letter .com domain name doesn’t mean they don’t want to sell. Perhaps they know it’s worth more and your continued emails are annoying. Second, you should be friendly in your email and let the person know your interest won’t wane. Ask them to kindly be in touch if they want to sell.

I have done a few deals after being in contact with a domain owner multiple times over a period of time. People’s finances and/or lifestyles change, and their desire to sell a domain name may change as well. As a domain owner, I don’t mind someone’s persistence, as long as the offer is fair.

List What You Want to Buy

It’s Sunday fun day, so let’s try something that could be fun and could easily be  disastrous! Just about all of us are looking to buy certain types of domain names and others are looking to sell them. Let’s see if we can match some buyers to sellers.

For buyers:

I invite you to post a comment with a type of domain name you are in the market to buy should something be available. Be very specific because people tend to throw names out there they hope will match but clearly don’t.

Set your parameters clearly. For example, you can ask for things like 3 letter .com domain names that don’t have the letter Z and are for sale for $4,000 or less. The more specific you are, the more likely you are to get matching domain names.

For Sellers:

I invite you to reply to these wanted comments with your matching domain name and price as well as a way to contact you. I only ask that you reply to specific posts rather than submitting comments so that we can track what comment you are replying to.

If I notice something that either clearly doesn’t match what the buyer is looking to buy or isn’t a reply to a specific comment, I will probably delete it.

Keep a few things in mind:

  • I will not be involved in any transactions unless I personally buy or sell a domain name
  • I will not accept any commission as a result of a sale
  • I am not verifying any domain names that are listed for sale
  • I will not intervene on any transactions that have problems or fall through
  • Do your due diligence when buying and/or selling a domain name

Review Old Newsletters to Find Deals

There are a number of top domain brokers that send out daily or sometimes weekly brokerage emails. While there are often good deals to be had, many of the names that are listed aren’t great deals for the buyer. Here’s how you may be able to score a great deal.

Go through your old emails and sort them by newsletter. Have a look at the oldest newsletters first and identify the domain names that would be of interest to you at the right price. Do a Whois search to see the current owner and do a Historical Whois search to see who owned the domain name when it was listed in the newsletter. If it’s the same owner, you know the domain name didn’t sell. You might also want to check to see if the domain name has been developed in the meantime.

Get in touch with the domain broker who emailed you to let him or her know about your interest in the domain name. Remind him when it was listed for sale and at what price. Let the broker know what you’re willing to pay for the domain name and ask that he or she be in touch with the domain owner to try and work out a deal.

From my experience, if someone tried to sell a domain name in the past but didn’t succeed, they might be more inclined to sell it in the future, even if it’s for less than their desired amount. Conversely, they may be in a better financial position now, so the offer might not be of interest at all.

You’re probably wondering why I recommend to go through the broker instead of reaching out on your own. First, it’s the nice thing to do. Second, the broker may know the domain owner and let you know their thoughts on your offer. Finally, the broker has a vested interest to get a deal done, so their pushing it might help close a deal.

3 Tips to Find and Flip Niche Domain Names

I want to share something I’ve done in the last several months that has helped me close a couple of very profitable deals. These deals weren’t high value (around $1,000/each), but the profit margin was great.

First, a bit of background information. I searched NameJet pre-release names with bids in the closing minutes. I found one that I hadn’t seen before and backordered it. When it came to the auction, I was the winner at under $200. Within 2 months, I sold the name for mid-$x,xxx to a company that is a leader in this small industry.

This is pretty much an under the radar industry that has low search volume for its key terms, but when it sells its services, they are for thousands of dollars each. There are several companies actively marketing its services in this space.

Shortly after completing this sale, I spent a fair amount of time seeking out relevant domain names in this small industry. Some were hand registered and others auction wins. I then re-approached the company and worked out a smaller deal ($1k/name). I paid less than the first acquisition for these names, so it was profitable and a quick turnaround.

There are three pieces of advice here:

  • Seek out smaller industries and find the best cheap domain names that make sense. Approach the market leaders and offer the names for “fair prices.”
  • Once you complete a sale, find other names that are priced well. Set a NameJet and/or SnapNames email alert for specific keywords so you know when a good one is coming up.
  • Re-approach buyers and offer them good or better deals on subsequent domain names. Don’t price them too cheaply or you’ll lower your profit margin on subsequent sales.

Do you have any similar tips you can offer?

What Do You Think of This Domain Sales Tactic?

In the midst of a private negotiation about a domain name I wanted to buy, I received an email from the domain owner. Instead of picking up where we left off, it was a brand new email addressed to more than one person. The email explained that all recipients had inquired about the domain name and we could all reply with our best offer.

It’s an interesting tactic, sort of similar to an auction, but instead of dealing in private, the seller chose to make it more public. With email addresses exposed, all recipients could see who the other potential buyers were, possibly sizing up their spending capabilities and possibly revealing future plans.

I’ve inquired about thousands of domain names in private over the years, and this has only happened to me a couple of times. One time the recipients were BCC’d and the other time the recipients were simply CC’d.

When I received the emails it annoyed me enough to not even reply. I figured that if I beat some of the end users on the email, I would be overpaying. I also didn’t want to make my purchase public, as I thought I was dealing with a private negotiation.

What do you think of this domain name sales tactic?

How Much Are You Willing to Pay for Domain Data Service?

Earlier today, I posted an article announcing the launch of Dropping.com. A couple of the comments that were made  echoed  comments I’ve heard in the past regarding the cost of services that offer data on domain name drops.

My personal opinion is that the pricing is fair if you use the services daily and they save you time while helping you identify worthwhile purchases. On the other hand, many people find these services too expensive, especially those who don’t regularly use sites like NameJet and SnapNames.

I am wondering what you think is a fair monthly cost for domain name data providers that you use daily?