Suddenly you receive an email from someone who is interested in a domain you own. This might be your chance to make big money. However, before you go ahead to respond to that anonymous person, it is very important you know how to handle the negotiations. If you are smart enough, you will sell the domain for a good price.
Below are 4 tips that can help you when negotiating to sell a domain name
1. Find out who the buyer is
It is very important you establish who wants to buy the domain name. Just as you would have expected, large companies are highly likely to pay more for the domain compared to an individual. Therefore, before jumping into striking the deal, establish the identity of the potential buyer then decide whether you want to sell it. However, you should also take note that big companies have become clever.
Nowadays, some of them use brokers to do their bidding. Some of them have also gone to the extent of using free email accounts and pseudonyms to make inquiry about domain names.
2. Do not be tricked
Big companies know that they might be charged high for the domain name. This is why if they are not using the broker vibe, or free email accounts and pseudonyms to make inquiry about domain names, then they will employ the poor college student trick. In this case, they will approach you with a story that he or she is college student and thinks that the domain name will really assist them do their project even though he or she doesn’t have enough money for it.
Some companies have fell for this. Make sure you are not like them. Don’t be tricked like this. Do your research well and ask questions.
3. Come up with your final price
Setting the minimum price is very important. Regardless of the buyer’s position, stand by your price and eventually you will go home with the bucks in your pocket. Remember, if your domain name was already in use for your business, shifting to another domain name won’t be easy.
It is important you have a good bottom line price that would make it easier shifting to another domain name. Stand by your minimum price but also be wise.
4. Do not get greedy
Be a wise negotiator. Remember that if you get too greedy, there is a high chance the buyer might be disappointed and decide not to buy the domain name. Therefore, be a wise negotiator and know when to stop and where to stop. You do not want to send away that buyer.
Remember, buyers are not all over and you are also not sure when the next buyer will come around so avoid being greedy in this case.
With these five tips, we really hope that you will be successful in your negotiations. If our tips work for you please, do not hesitate to let us know.
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