I think there are two schools to thought regarding the speed in which a domain owner replies to an offer for a domain name. Some people reply quickly in order to capitalize on a hot lead, and others respond slowly as a means of showing a lack of desire to sell a domain name. Generally speaking, I reply to offers fairly quickly.
I don’t necessarily think there is a right or wrong way to reply. I also think the response time should be part strategic and partly related to the situation at hand – both with the business and with the company making the inquiry or offer.
There are several reasons why I tend to respond to offers quickly, and I want to share some of them with you:
- When someone inquires, they are interested in buying my domain name at that moment. I don’t want them to lose interest over time.
- Their financial situation may change at a later date/time.
- They could find another domain name for their project.
- I want to show that I am decisive with my pricing.
- Business people like when their requests are dealt with promptly.
- I don’t want to forget to reply to the inquiry, and I may forget to reply if I put it off.
Some people prefer to wait for period of time before replying to an offer. Here are a few reasons why it might be good to wait to reply:
- Shows that I am not all that interested in selling the domain name.
- Allows the negotiation to progress at my pace.
- It can make the buyer increase his offer to accelerate the pace of the negotiation and reach a result more quickly.
- If the buyer maintains interest over a period of time, it shows how much they want or need this particular domain name.
- Some larger companies move slowly and methodically, and by doing the same, I can show how important the domain asset is to my company because a deal needs lengthy consideration.
There are plenty of good reasons for replying to offers quickly and taking time to reply to offers. With my business model, I prefer to engage the company inquiring immediately to try and work out a deal. Perhaps I get to be a bit impatient, but that is how I operate.
I am certainly not an expert at negotiating, and I am sure there are people who reply quickly or slowly for different reasons than the ones I listed above. I would be interested in hearing how quickly you reply to offers, and what your rationale is.