If there’s one lesson to learn from the top domain investor, Rick Schwartz, is how to decline and say “no” to domain offers that don’t reflect proper value.
The Domain King has been sharing his experience as a domain investor and as an entrepreneur; having turned down offers totaling millions of dollars, he knows how to say no.
A recent Twitter thread over the domain SmallBets.com shows that an offer of $5,000 dollars means nothing, when the domain’s asking price is $300,000 dollars.
The $5k offer was made via DomainAgents by entrepreneur, Daniel Vassallo. Upon receiving the counter-offer, Mr. Vassallo pondered publicly if increasing the offer by $500 dollars would secure a sale. He went on to say that the seller is “$5,000 poorer” at the end of the day—a statement that utilizes false logic.
Domain investors that know their assets’ worth are able to seek and secure high compensation for them. In the case of this paradigm, Mr. Vassallo argued that the domain is not a “must-have” and that even at $5,000 he’d be “overpaying.” It seems that he’s not familiar with the lowballer mentality, after all.
Rick Schwartz commented on this entire incident by stating what he’d say after the second offer of $5,500 dollars:
“GO AWAY!”
GO AWAY! – Photo by Sora Shimazaki from Pexels
It’s exactly how domain investors aspiring to reach the levels of the Domain King should turn down lowball offers.
Entrepreneurs, brand developers, and the general public typically lose such “small bets” as the domain seller might block them from any future communications.
My takeaway is… he didn’t say **** ***