After receiving a question from a domain buyer who was stuck in negotiations and looking for advice, I decided to share my strategic approach to the situation.
The buyer had never purchased a domain name before and was a bit skeptical if they were being taken advantage of. It’s a valid concern for anybody in an unfamiliar situation, so I’m glad they looked for sound advice from an independent source.
Quite often, we put up a guard and seek to protect ourselves until we reach the point of fully understanding the situation, after receiving knowledge from an expert.
In this situation, the buyer questioned the validity of the asking price. They did some negotiating with several offers back and forth, but the seller was fixed at a four-figure offering price. Although the buyer's offer was close enough to the seller's negotiated asking price, peace of mind was still needed for the buyer to be able to accept the numbers involved.
Some Hot Points
- $2K-$5K is a pretty common sweet spot for domain name sales. A lot of domain names sell at this price point. If you are able to make a purchase in the price range and are generally happy with the domain name, make the purchase and move on with your mission.
- Do not let a purchase price that is a little bit more than you wanted to spend distract you from your mission.
- If you are set on one specific domain name, you have no other options. That one is the one!
- Consider the situation a positive that you are close to the purchase price because it could easily be the opposite.
- Putting a value on a domain name is hard for the buyer and seller in most cases. Domain names are unique, one of kind assets. Negotiate and trust your inner feelings and knowledge.
- Be understanding that somebody else, at any given time, may truly be interested in purchasing the domain name that you are interested in purchasing. It happens and isn’t always a sales tactic. I have witnessed it and it’s a real thing with domain names. We live in a big world and a lot of domain names are bought and sold every day and this can include the very one you are interested in buying.
- If the domain name is for sale today, it doesn’t mean it will be for sale tomorrow.
- Buying from a reputable service is very important when purchasing a domain name. You can trust domain acquisitions at the Uniregistry Market 100%. Many steps are put into place for a safe, expedient, and smooth transaction.
- Ask domain brokers lots of questions! They earn a commission on a sale but they are knowledgeable in domain names. If the broker isn't personable to you, ask for a different broker to work with.
Price is almost always going to be a roadblock in purchasing a domain name. You want and need trust in making a digital purchase and you get that with Uniregistry. You do not have to worry about payment issues or the change of ownership of the domain from the seller to you with Uniregistry. Negotiating the purchase price will almost always be the key factor, so I would advise you to review the data here on domain name sales. I personally reviewed the data and wrote that article.
There is a lot of comparative data to provide peace of mind and “rate” the domain name you are interested in purchasing. Each and every domain is unique, and you can use data related to character length, keyword, TLD and more to help you decide if the price is right. Although each domain name is unique and has different demand levels, there are certain parameters that are consistently backed up by statistical sales data.
The bottom line: Don’t allow a little bit of a price difference to be a distraction that prevents you from achieving your business goals with the perfect domain!