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Strategies employed by domain investors can vary greatly. One of the key decisions domain sellers face is whether to list their domains with a “Buy-It-Now” (BIN) price, a “Make Offer” option, or a “Price Request” option. Each approach has its own set of advantages and considerations, and the choice often depends on the seller’s preferences, goals, and the nature of the domain itself.
For some sellers, the BIN strategy is a way to streamline the sales process, allowing domains to be sold on auto-pilot with minimal interaction. These sellers prefer to wake up to an email notification that their domain has sold, requiring only a few simple steps to complete the transfer and receive payment. This approach is particularly appealing for those who dislike negotiation and prefer a straightforward, hassle-free transaction.
On the other hand, some sellers really enjoy the negotiation process and believe that it can lead to higher sale prices, especially for premium domains. They may opt for a “Make Offer” or “Price Request” option to engage potential buyers in a dialogue and explore the best possible deal. Additionally, the choice of strategy can be influenced by the price category of the domain. For instance, some sellers use the BIN strategy for domains priced below $5000, while reserving the “Make Offer” or “Price Request” options for higher-priced domains. This distinction may be due to payment limits set by credit cards and the need for organizational approvals for larger purchases.
The platform on which the domain is listed can also play a role in the decision-making process. Major domain marketplaces often feature a significant number of BIN listings, but individual preferences and beliefs vary widely among domain investors. Some sellers rely on external brokers for premium domains, while others prefer to negotiate directly or engage in outbound marketing to sell their domains via telephone.
We invite the NamePros community to share their experiences and insights on the BIN strategy. When do you choose to list your domains with a BIN price, and what factors influence your decision? Let’s discuss the various aspects and nuances of this strategy to better understand its benefits and potential drawbacks.
For some sellers, the BIN strategy is a way to streamline the sales process, allowing domains to be sold on auto-pilot with minimal interaction. These sellers prefer to wake up to an email notification that their domain has sold, requiring only a few simple steps to complete the transfer and receive payment. This approach is particularly appealing for those who dislike negotiation and prefer a straightforward, hassle-free transaction.
On the other hand, some sellers really enjoy the negotiation process and believe that it can lead to higher sale prices, especially for premium domains. They may opt for a “Make Offer” or “Price Request” option to engage potential buyers in a dialogue and explore the best possible deal. Additionally, the choice of strategy can be influenced by the price category of the domain. For instance, some sellers use the BIN strategy for domains priced below $5000, while reserving the “Make Offer” or “Price Request” options for higher-priced domains. This distinction may be due to payment limits set by credit cards and the need for organizational approvals for larger purchases.
The platform on which the domain is listed can also play a role in the decision-making process. Major domain marketplaces often feature a significant number of BIN listings, but individual preferences and beliefs vary widely among domain investors. Some sellers rely on external brokers for premium domains, while others prefer to negotiate directly or engage in outbound marketing to sell their domains via telephone.
We invite the NamePros community to share their experiences and insights on the BIN strategy. When do you choose to list your domains with a BIN price, and what factors influence your decision? Let’s discuss the various aspects and nuances of this strategy to better understand its benefits and potential drawbacks.
