Selling your precious Domain name is of course every Domain Investors dream and there’s nothing can compare to the feeling when you open an email saying the “Congratulations your Domain has been Sold”, it almost complete our day.
But when the time that money get into your account and tell your fellow mates about the sale slowly something is building in almost everyone’s head, Regret.
This happen to a lot of Domain investors even myself, knowing at the end that you could have sold that Domain name a bit more than what you got, This usually happen because of our lack of knowledge and understanding and being Greedy to money.
Domain Investing is a Game of Patience, and Strategy plus the knowledge that you must compound every single day.
Understanding how Inbound and Outbound works will help you remove that regret every time you sold a Domain
What is Inbound in Domain Selling
Inbound or Inbound Sale is when someone contact you because they are interested in buying your Domain name and if everything goes well a sale is made.
If you don’t put a price tag on your Domain name and someone wants to buy it they will probably ask you “How Much” are you selling the Domain name, Then even if you give them a price it’s still highly likely that they will throw an offer, don’t get excited and start lowering your guard take note that it’s a Inbound, meaning they are fully interested in the Domain name so stick with your price, but don’t forget that you also need to be realistic and you yourself know your Domain name very well.
Remember that a .com Domain name is the most Valuable Domain name of all, end users can only go up to the very top which is the .com, that’s what we called Upgrading.
So as long as you hold a Valuable premium Domain name and someone want’s to acquire it, you should always be on top of the negotiation.
What is outbound Domain sale
An outbound sale is if you make an effort to contact people and businesses to offer your Domain name, Remember that this kind of selling lowers your negotiation power because you are the one who approach them first.
You can give them a price, or even if not and you got lucky to get a offer, expect it to be a low ball offer because this people will always think that you need to make a sale that is why you approach them.
People and Businesses who buy Domain names through outbound is more likely to not gonna used that Domain name immediately, they might just add it to there portfolio and be used in there next project.
Keep in mind that
- Inbound can give you more on your sale
- Gives you confident on your Domain name
- Reduce that Regret
- Give you more negotiation power
- Expect Lower sale on outbound
- You need to make more effort to sale on outbound
I know that both Inbound and outbound can also get High and Low ball offers, for some of you I might be wrong but this is my own way of differentiating Inbound and Outbound.