It Can Hurt To Try Part II

Work Closely with your Broker to Choose your Price Wisely when Selling Premium Domains

Identify a Price Range within Market Value: While most sales are not made on the first, or second, or third contact, a buyer smells blood in the water if the asking price is drastically reduced time and again …and again. Now, of course if a domain enters the market at a reasonable price, there’s room to negotiate and, if necessary, to circle back with a lower price offering.

But, if your broker initiates negotiations with a price that’s far inflated over the real value, that can cause a negative reactionary response in the buyer, who won’t make an offer at all or will only offer a very low amount. Common Mistakes to Avoid when Choosing your Broker and your Premium Domain Price:

• Don’t go with a broker because they offer the best commission*. If they can’t sell it, nobody gets paid. If they sell it below market value, what you didn’t pay in commission, you paid in lost revenue.
• Don’t choose a broker who promises you the biggest paycheck.* Projected market value is tempting, but needs to be backed up with a broker’s proven sales experience in those price ranges. If a more experienced broker recommends a lower value, listen attentively.
• Don’t treat your broker like a buyer. Before signing a contract, a broker is checking you out, too. Playing hardball and suggesting unrealistic reserve prices to your broker wastes time. A good broker will know a realistic reserve price, and will either negotiate with you for that, or decide that you’re too difficult to work with. Think about it: a premium broker works for free, looking for a buyer for your domain.

He needs believe this domain is priced to sell in order to do all that work to bring a buyer to the table. In choosing your broker, if you’ve selected one who is known for always representing the client, then there’s a framework of trust within which to set an asking and reserve pricing.

I need to discuss the domain I own!

There are situations where holding your domain investment may be in your best interest. Talk it through and strategize with your broker. Timing is everything. A broker can assist in strategizing for a specific domain or for an entire portfolio. When you are ready to sell, choose the price carefully. An asking price too far removed from real market value can shut a buyer out permanently. An amount at or very close to market value makes it easiest for a buyer to enter into a conversation.

Your broker’s job is to convince the buyer that they can work together: an overinflated price says the opposite.   *Recommended reading: It Can Hurt to Try Part I: Why to Choose Your Broker Wisely when Selling Premium Domains