How to Respond to the End User Question “How Much?”


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I don't have one answer for you or even two. Every end user sale is different and names can require different methods of selling. I have experimented with selling names to end user via email, phone, and physical letters. Sometimes I state a price most of the time I do not.

When you do not list a price often you get the short reply from an end user "How much?"

This is a good sign, it means that they read your email and are interested in the name, but it is very hard to tell just how interested they are. You want to get the sale, but you don't want to scare them away. Here are a few of the choices of responses that I have used. Some are better than others, I keep trying new ones to find ones that work.

So when an end user asks what is the price here is how you can respond

The simple one first is just to respond with a price. For the end user this one is often the simplest, but for you often you can not decide on how to price a name or how much the end user is willing to pay for a given name. You don't want to leave money on the table.

Another response would be to say you are taking offers on the name. With this you can say you are looking at offers over a set value or give a range like looking at offers from $xxx to $x,xxx for example. This gives you more room and might not scare an end user away.

If you get a few emails back for a name asking how much you might want to try an auction. You could use a site like Boxcar, Flippa, or even eBay if you want to gain their trust. With this response you want to make sure your end users are interested so you will have more than one bidder in the auction. You are going to get the max price an end user is willing to pay if there are a few bidders.

You could also try a combo saying you are looking at offers from this to that but also state a Buy it Now price. Make sure you also mention that you are sending this email to other people and that the first person to offer the BIN price gets it.

Also in this email I like to include some details about the transfer of the domain name and mention escrow. This makes the end user feel comfortable and lets them know it is not a scam.

How do you reply to the question for an end user "What is the price"

Related posts:

  1. Average Response Rate from End User Emails
  2. A Strange End User Request Renting a Domain
  3. What to Do When an End User Stops Responding

Comments

11 Responses to “How to Respond to the End User Question “How Much?””

  1. Michael Cyger
    March 10th, 2011 @ 11:54 am

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    Hi Brian,

    Great article. Lots of food for thought.

    As a buyer of domains related to businesses that I’ve started or wanted to start, it’s frustrating to not be given a price. I’m not a domainer and most (if not all) end-users are not domainers, so we have no idea what the value of a domain name should be.

    When you give me a price from $100 to $1,000 (for example), I’m simply going to offer you $100. Why not? You said you’re looking at offers in that range. :)

    Berkens has an interesting strategy. He said at DomainFest that all of his domain names have a minimum price of $2,500. Whether they’re worth it or not, the price is right there on the merchandise. I, as the consumer, can then decide whether it is worth it for me to spend that kind of money or not. It’s the same as your BUY IT NOW price above.

    The question then is: how do you, as the domain name owner, convince the consumer (end user) that the price you’re asking is legitimate?

    Best regards,
    Michael

  2. Leonard Britt
    March 10th, 2011 @ 11:59 am

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    Yes, the “How much?” question can put one on the defensive if they haven’t previously given it much thought. If you state a range, undoubtedly the buyer will move toward the bottom end of that range. If you shoot too high they will likely be offended and never respond. If you state a price with the note negotiable or in the range of … you can anticipate a lower counteroffer. On the other hand, if a buyer contacts you they have at least some interest in the domain. Otherwise they wouldn’t bother.

    So today I received a “How much?” inquiry but it wasn’t related to a domain. Perhaps one can save time by not pursuing opportunities well below your target range. But I just responded along the lines of “What is the range for this position?” We’ll see how they respond…

  3. BullS
    March 10th, 2011 @ 12:48 pm

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    Here my strategy:

    I willing to let you have this domain for $150K, if you are not interested, you are welcome to shop at WalMart or K-Mart for other cheapo domains.

    Good Luck in your pursue of happiness.
    Rgs,
    Bob
    Creative CEO
    http://www.BullShitWebsites.com

    p/s I am willing to take your best offers!!

    *********Just remember, domain is one of the kind and you are in control-what is he going to do?? go get a net or ca?

  4. BullS
    March 10th, 2011 @ 12:53 pm

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    Oh…one more thing..

    ” Because of the numerous offers coming in from other interested parties for some of my domains I have in my portfolio, please be patient with me …..”

  5. BullS
    March 10th, 2011 @ 1:02 pm

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    ****
    Due to the large volume of offers from others, my web development business and other business I am in, I am not able to provide the info you need but if you are seriously interested in those domains, please make serious offers.
    I cannot guarantee you that the domains will still be available.

    Good luck

    Chris
    Creative CEO
    http://www.BullshitWebsites.com

  6. adam
    March 10th, 2011 @ 2:36 pm

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    “I’m not a domainer and most (if not all) end-users are not domainers, so we have no idea what the value of a domain name should be.”

    This is the most common “excuse” I’ve seen when I tell people to make me an offer. I don’t shop domains around though so these are typically situations where the buyer has approached me, not me pitching them.

    The value of a domain is different to each person, if you are interested in buying something you should be able to determine the value of the domain to your business just as easily as the seller can determine the value to them. If you truly haven’t thought that through then you should take the time to do so.

    Maybe as a seller you can reply back with “I have no idea of what the value of a domain should be” :) See the irony ?

    I buy names more than I sell names and every day I perform this exercise in my head for each domain I buy. It’s not difficult to make an offer based on your personal perceptions of value and what you think you can get out of a domain. Not making an offer and/or feigning ignorance on the value to you, is the manifestation of the fear of paying too much or maybe coming to the table unprepared to do a deal.

  7. Michael Cyger
    March 10th, 2011 @ 4:02 pm

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    Hi Adam,

    You bring up a good point, “…if you are interested in buying something you should be able to determine the value of the domain to your business just as easily as the seller can determine the value to them.”

    The problem is that for everything else in the world, I can go to Google and find a price. For a car, I can find the price the dealer paid for it. For a book, Amazon will tell me the retail price and their discount price. But there is nothing like this for a domain name. Yes, tools exist but no one will say they’re always correct in every instance. There are subtleties.

    As a seller — and particularly as a domainer — you are by definition more educated as to the value of a domain name. You know what the CPC is on Google, how often it’s searched, what other domains are of that caliber. So you’re much more capable of setting a price. No?

    Thanks for the discussion.

    Best regards,
    Mike

  8. adam
    March 10th, 2011 @ 4:39 pm

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    “The problem is that for everything else in the world, I can go to Google and find a price. For a car, I can find the price the dealer paid for it. For a book, Amazon will tell me the retail price and their discount price. But there is nothing like this for a domain name. Yes, tools exist but no one will say they’re always correct in every instance. There are subtleties.”

    It’s been said by many domain investors many times. A domain is worth what someone is willing to pay. I don’t know your business, why you want a domain, how you’d use it, how it can help you. I can speculate and come up with a clue based on who you are maybe, but it still isn’t going to tell me what it’s worth to you.

    Domains aren’t books (commodities) they are all unique items, like a custom car. There’s no Blue Book for custom cars and there’s none for domains either. You can use a tool like estibot.com or namebio.com to see past sales and get a gauge but again, ‘domains are worth whatever someone is willing to pay’ or on the flip-side ‘whatever someone is willing to take in exchange for the domain’ . . . even that sales price may not be the true “value” of the domain as the buyer might have been willing to pay more. I’ve bid on domains with a proxy that was 10x what I paid and I’ve bought names that I’d never sell for anything close to what I paid.

    “As a seller — and particularly as a domainer — you are by definition more educated as to the value of a domain name. You know what the CPC is on Google, how often it’s searched, what other domains are of that caliber. So you’re much more capable of setting a price. No? ”

    I’m not capable of setting a price for you, no. I can set a value of what I believe the domain name to be worth to me. I’m far less capable of setting a price for you, as I said above, that would be speculation.

    Sure, I’m more educated as a seller because I’m also a domain buyer but I’m also an outlier example. Again, as a buyer it’s your responsibility to know what something is worth to you. That may mean educating yourself on what a domain can do for your business , but saying that you don’t know what a domain is worth is pure poppcock and the reason I can say that is this. Follow this line of negotiation.

    Buyer : Hi Is this domain for sale
    Seller : Sure make an offer.
    Buyer : I don’t know domain values (blah blah blah)
    Seller : (who falls for the line) Ok $1000
    Buyer : oh no that’s not what I’m willing to pay OR the less likely ” ok we have a deal

    <<<< Do you see any bit of a reveal to the LIE of "I don't know what domains are worth"

    You don't know what you're willing to pay in the second response but suddenly you do when the seller puts their cards on the table.

  9. Jason Thompson
    March 10th, 2011 @ 4:41 pm

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    I enjoyed this post. In my opinion there is no set way to sell a domain name but ranges have always worked. Its kinda like when you walk into a car delearship. There is a retail price and a range at which the sales man is willing to sell the car for. The main objective is for the customer not to feel like they have overpaid and for the sales man to actually make a decent sale. Regardless of tactics use as long as both parties involved benefit from a transaction in some shape or form is what matters.

  10. TeenDomainer
    March 10th, 2011 @ 4:49 pm

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    Thanks for all of the replies, everyone brings up great points. Although using a range may not seem to work for all names I think it gives the end user a value of what you are looking for price wise. I have sold names using it and yes you get names in the low end of the range but you have to set your range accordingly this way the customer feels like they are getting a deal.

  11. BullS
    March 10th, 2011 @ 5:09 pm

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    Whoever puts the 1st # on the table loses the game.

    and….Buyers always lieeeeeeeeeee

    I am using this for my kid’s personal blog..blah blah blah…

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