I have had the majority of my portfolio listed for sale via DAN.com around six months. During this time, I have done some testing of the different types of landing pages offered by DAN, which includes the longer term payment plan offering, the BIN page, and the BIN page with a Make Offer option.
Initially, I was not crazy about BIN + Make Offer landing page. My feeling has been that someone who sees the buy it now price with a make offer field will choose to make an offer. After all, the prospect can usually just buy it for the asking price if the seller rejects the offer – or possibly get a better price. With that said, I have sold several names for the BIN price without an offering being submitted, so it doesn’t always lead to an offer.
A point of frustration, though, is when a buyer believes their offer will be given full consideration only to learn that the seller is inflexible on the price. Afterall, most people expect to be able to negotiate when they see the buyer is willing to consider offers.
Case in point, I read a one star review of DAN which focuses on this very topic:
“Buyers Beware! Literally no negotiation!
Literally no negotiation from ‘Tycoon’.
Dan.com shouldn’t have sellers on their site that aren’t willing to negotiate the top price for a domain name. What’s the point in a “Make Offer” button?
Will be going elsewhere for a different name.”
I assume this person saw a Make Offer field on a landing page, submitted an offer, and the offer was rejected with the seller reaffirming the BIN price. The prospect left a bad review for the platform because the third party seller, who is under no obligation to consider an offer, rejected the offer and stuck by the BIN price.
In my opinion, this review is undeserved. It is not DAN’s fault a third party seller did not negotiate on a sale price when they had a Make Offer field listed. I suppose that’s what you get when you operate online though.
With that said, and based on my own limited experience, I think sellers are better off adjusting the minimum offer to a real minimum offer that would be considered a conversation starter. I tend to make my minimum offers at least 50% of the full buy it now price. While most of these minimum offer amounts will not get a deal done, it at least offers some level of qualification. Situationally, I may even consider selling for that minimum offer, but it depends on the name and the timing of the offer.
If the BIN price is $5,000 and that is really the lowest acceptable price, I think sellers should set the minimum offer at $5,000. When that is the case at DAN, the “Make Offer” field is not shown. Other platforms may either work similarly or let sellers choose whether or not to show a make offer field.
Because of the concerns I outlined in my 2019 article about a landing page with BIN price and Make Offer field, I have gone through my portfolio at DAN and adjusted the minimum offer amounts. If I am inflexible on price, the minimum offer is very close to the BIN price so people can understand that there is very little give. Before I did this, I had someone lodge a similar complaint about my willingness to consider a lower offer, which, in fact, was my lack of knowledge about the platform. Making minimum offer adjustments can help set expectations and remove a point of annoyance for buyers.