When I was operating my directory websites, a business friend of mine gave me some good advice that applies directly to domain name sales. Enable immediate payment for domain names that buyers want to buy. Whether this is an Escrow.com payment link, a BIN link with Efty Pay, or a BIN landing page with GoDaddy, Atom.com, Spaceship, or other platform, the buyer should be able to pay immediately without jumping through hoops.
This friend illustrated his point by sharing some insight from his own business. He told me some of his clients would be up late working on their business. They may have been drinking a beer or two or simply excited about pushing their business forward. Enabling them to pay immediately when they were excited about a purchase helped him close (non-domain name) deals while he slept.
The same thing applies to inventory-quality domain names. Someone may have a great idea when the domain seller or broker is asleep or off the clock. They want to strike quickly. Let them. Don’t get in the way by having inquiry forms to fill out or other hoops to jump through to get a price or purchase a domain name. Again, this applies to inventory-quality domain names you can easily replace and won’t be sad to sell.
Negotiating a domain name sale is exciting. For better or worse, it can become like a competition for me. Sometimes I win sometimes I lose. Sometimes I get in my own way and lose a deal because of my competitive nature. Having BIN pricing removes the negotiation for a large percentage of my domain names. This is okay. I can’t get in my own way. Domain names get sold, cash-flow comes in, and I buy other domain names to fill my portfolio. This is possible because I have BIN prices and purchase mechanisms in place to allow for immediate payment.
Enable BIN purchase options for the next time inspiration strikes a prospective buyer for one of your replaceable domain names.
I’m going to share this to my followers on x and linked in. Excellent article. Thanks for all your hard work.