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:
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