There are many schools of thought on how quickly to respond to an inbound offer or inquiry. Some people like to respond while the offer is fresh so the prospect doesn’t find something else or have second thoughts. Others prefer to hold out on their response so the prospect doesn’t think the seller is desperate. Some people don’t even respond to offers and may only respond after the prospect makes multiple offers. This can show just how desperate a prospective buyer is.
I would not consider myself an expert negotiator, but I typically respond quickly. I want to make sure the buyer doesn’t lose interest in the domain name and I like a strong deal flow. If the offer isn’t strong enough, my response time may slow down.
How quickly do you respond to offers and inquiries? What is your rationale for your response time?
I preemptively respond by giving them take-it-or-leave-it prices using Buy-It-Now. No negotiations or gamesmanship required. Best way to make sales quickly and get the prices you want. Easy peasy.
You need a fourth option for “almost right away” or “next day.” I normally reply soon the same day or so, or right away if I see it, or the next day.
One thing that concerns me is that I like to do online biz stuff at any hour of the day or night and also on weekends depending on whether I’m around and up and that’s what I want to do. It has always concerned me, however, that if you send an email in the middle of the night, such as a reply to an offer, that might lead the buyer to think bad thoughts along the lines described by Elliot above. Or if you like to do things on Saturday or Sunday. (Sometimes it works out and the other person is more or less the same, however.) So then it becomes extremely unpleasant having to wait hours to get a “normal” time stamp during “normal” business hours before sending an email, or wait till Monday.
Should I not really be concerned about this?
I wouldn’t be concerned about time stamps, John. As domainers, we all routinely negotiate with parties all over the world in vastly different time zones. A strategic and smart response (and I also vote for timelye.g. fairly soon after I receive it; I’m like Elliot: I want to make sure the buyer doesnt lose interest in the domain name) is far more important than any time stamp. 😉
Thanks for your thoughts on that, Kate.
Do unto others as you would have them do unto you.
First response, as soon as possible.
The following responses will depend on the buyer and how the deal is going.