Domain Acquisitions Require no Emotional Attachment

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Domain acquisitions require a clear head and an iron-clad stomach. From the buyer's standpoint, it can be aggravating to receive a quote exceeding all expectations and budgets.

Being told that your offer is not good enough can be a frustrating trigger point for most domain buyers. The moment one sees zero flexibility from the seller, it’s a natural response to act in ways that might break the basic rules of conduct.

Demonstrating zero emotional attachment in a domain's acquisition process is a response that takes practice and requires an active rule-set on one's behavior.

It's natural for a domain buyer to get overly excited about the availability—via a sale—of a domain name that matches their desired brand or intended company name. Once the domain's price has been quoted, buyers should think of their acquisition as if it were a new automobile for sale at a dealership to maintain emotional detachment.

A new car that sits in any major dealership is negotiable around 3% - 5% below its MSRP. But no dealer will deviate from that new car sale price if the buyer offers to pay substantially less. No matter how low the manufacturing cost is, the automotive industry determines the minimum sales price based on consumer behavior. Still, a new car's price tag won't change simply because someone cannot afford the car!

Keeping that analogy in mind, determine your strategy as a domain buyer. The first question to ask is, "Can I afford this domain name?"

The worst mistake is to attack the seller as someone who is "greedy" and inclined to take advantage of prospective buyers. Buyers should detach emotionally from the targeted asset, because its out-of-reach price might indicate they're chasing an asset lying outside of their ability to budget such an acquisition.

Some sellers are less inclined to negotiate prices, and when faced with a solid wall buyers tend to break. That's the point in time that reality check should trigger a response that doesn't eliminate all future negotiations outright. In other words, do not attack the seller's business acumen just because you cannot afford the domain at the quoted price range.

Maintaining emotional detachment from the targeted asset is achieved by accepting the domain's price tag.

It's the equivalent of the car's sales price: If one responds to a car dealer in an unprofessional manner, one is quickly shown the door. In the same sense, domain buyers should maintain their composure, acknowledge the lack of affordability of the asset, and respond cordially.

From the buyer's perspective, the best "revenge" is to come back at a later time and be able to acquire the domain name outright. That is achieved by raising capital, taking on partners, or being successful in their overall business.

Domain buyers unwilling to go through the process of negotiating with a domain seller can most definitely utilize the Uniregistry Buy Domain service, at a minimal cost.

In a nutshell: Buyers should refrain from getting aggravated due to a domain's quoted price; emotional attachment to the targeted domain won't mix well when the asking price makes the asset unaffordable. Instead, detach from the domain prior to making an offer and raise additional capital when your offer is turned down.

The information contained in this blog is provided for general informational purposes about domains. It is not specific advice tailored to your situation and should not be treated as such.

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