If you own a domain name that is worth its weight in gold and are looking to sell, then it’s only understandable that you’d be concerned with getting the best possible price you can for it. Maybe this is a one-time deal for you or maybe you see flipping websites on a long-term basis as part of your future. Either way, knowing that you want to make a solid profit on your expensive domain name and actually doing it are two different animals.
The key to success here lies in understanding how to handle price negotiations like a pro. Good negotiation skills will not only help you get what you want (or more) in return for your domain, but they will help you keep your buyers satisfied as well. Make them happy enough and they may even want to do business with you again at some point in the future.
Handling Low Ball Bids
In the great majority of cases, price negotiations on domain names are going to start with the seller asking an insanely high price in return for the domain and the buyer responding with a low ball bid that is ridiculously low. Don’t be offended by this. They wouldn’t be bidding at all if they weren’t truly interested in what you’re selling!
This is the point at which you’ll want to put your finger on what the buyer finds valuable about your domain. Perhaps they already own lots of other domains in the same niche and are looking to build their portfolio… or it could be something else entirely. Use the point of value to justify your counterbids, move forward, and navigate your way around any roadblocks that might arise.
For instance, when your potential buyer reaches a point where he insists he can’t go any higher, you might counter by pointing out how many high-quality leads your domain could potentially generate. Back up your claims and explain why it’s worth it to pay the extra money.
Address Any and All Questions
If someone is interested in purchasing your domain, you can bet that they’ll also have plenty of questions. Asking questions is their way of determining the value of what they’re purchasing, so how you answer will ultimately make a huge difference in what they’re willing to pay. Never dodge questions. Always answer them promptly, thoroughly, and professionally. Detailed responses about valuable domains help prospective buyers feel more confident about their purchases and can certainly help to increase the final sale price – sometimes significantly.
Always Be Honest
Even if you think you see a way you could increase the final sale price of your domain by lying or fudging the truth, don’t do it. Buyers interested in purchasing domain names aren’t stupid. They know every trick in the book and you won’t be able to pull the wool over their eyes. Once they realize you’re not honest, they will simply drop out of a deal and disappear.
If the domain or website you’re selling is an auto-generated, no-effort website designed to make the owner easy money instead of a painstakingly cultivated authority site, simply say so. No, you won’t get the same price for the site-in-a-box that you would for the authority site… but that’s fair. Always treat your customers fairly and be honest with them, especially if you’re interested in doing repeat business.
Focus on Relationship Building
As touched on above, successful domain sellers focus on more than simply turning a profit with what they’re selling. They’re also focused on doing good, honest business and building solid relationships with their buyers that could last into the future. You honestly never know when and how you’re going to benefit by establishing a positive connection based on honesty and trust.
Happy customers who like the way they were treated and leave a deal satisfied could return to do more business in the future… or they may pass your name along to others who will. Plus, you’ll establish a positive reputation on the web in general. For that reason, never burn a bridge by swindling a buyer or being unprofessional. Taking great care to offer our customers value and professionalism pay off in ways you might never have imagined.