When I am in the process of discussing the purchase of a domain name, the best thing a domain owner can say to me is “the price is negotiable.” Without fail, this means I will completely ignore the price he’s given and make my own offer. For domain sales, this (and similar language) is really bad for negotiating.
As a domain seller, if you give a potential buyer a price for your domain name but say the price is “negotiable” or that you will consider an offer, I think that not only are you throwing away your price, but you are opening the door for a much lower offer. Any shrewd business person will detect weakness with those types of terms and you are going to potentially lose money. If they had been willing to pay your $5,000 price, but you then say it’s negotiable, that means you are not firm on your price and you will most likely get less.
Another term I find to be weak is “asking” price. To me, an asking price means it’s what you are hoping to get rather than the firm price. It’s like saying “I am asking for $5,000 but am willing to take less.” I don’t like to use the term “asking price” because I also feel that weakens your position.
Here are a few terms/phrases I believe convey weakness:
- Asking price
- Will consider offers
- Best offer accepted
- Submit your best offer
I understand that many people who use those terms are probably very motivated to sell and perhaps have priced their names higher to reflect the lower offer that is sure to come. However, I think those terms, especially when used in a negotiation with an end user buyer, are signs of weakness and will lead to lower value deals than if they weren’t used.
What other terms and phrases do you think weaken your negotiating postion?