.Com Strategies Podcast where you will learn key insights into valuing, marketing, brokering and selling your domain names.
In today’s episode I talk about how to tell if someone is serious about buying a domain name.
POINT #1: Have you done your homework?
- Chris says that one of the fun parts about his job is when people come to him looking for a domains that he is selling. One part of this that he finds funny is when people have not done their homework and don’t realize that a domain can be in the mid seven figures. This happened to him the other day, a guy came in and inquired as to the cost of a low seven figure high six figure domain was. Chris then offered to walk him through understanding the value of a domain, so as not to shock him with the price
- This kind of high price tag can throw people off because they don’t realize that a domain is not just a place to put a website up, it is an asset.
- For people selling domains, make sure to check with people who are interested and make sure they have done their homework. If they haven’t, don’t scare them with the price, slowly explain to them why it is worth what it is worth.
POINT #2: Domain Brokers, you are the prize!
- Chris continues with the story and says that the guy, after hearing the price told him there was no need for discussion, just a link to make the transaction.
- This guy realized that this domain was the prize, and that the only way to get it was to go through Chris and pay the money. He knew what he wanted and snatched it up before someone else could.
- Domain sellers, realize you are the prize! If someone comes to you, you have a domain that they want. This puts you in the position of authority. If it a truly valuable domain, people will come to you and you will sell it. It may just take time
QUESTION OF THE DAY:
“As a domain buyer, hove you done your homework as to figuring out the value of the domain? As a seller, are you taking advantage of your prize frame?
QUOTE OF THE DAY:
“ Use the prize frame out of belief in what you are selling, that is a good thing!”