With every new experience you have in life, it can create nervousness. Especially if that new experience is investing in something completely out of the box, like websites.
There is no denying, it can feel a little risky and create a little bit of uncertainty. You know that feeling of “am I doing the right thing?”.
Don’t stress though, its all very normal to have those feelings even if it is not your first time investing in a website. However just because you may feel nervous never means you should completely forget to negotiate when buying websites.
Throughout my experience, I find that the best deal is always made when you negotiate when buying websites. Amazing deals can happen and in so many ways when negotiating that I may just create a whole separate blog post on that…watch this space.
But back to my point, you really do need to negotiate when buying websites just the same as you would when you are buying a car. Sure you can do you due diligence on the car but it doesn’t hurt to ask for a lower price and see if you can negotiate a better deal.
Though how exactly do you negotiate when buying websites? Is it the same as when you want to buy a car, a house or any investment at all? Of course it is, but where you should negotiate from is your source of knowledge about the investment.
Which means you want to know as much information about the business first. Where you want to have already talked to the seller, asked all your questions, poked holes at the website and done your due diligence properly.
From there you can truly know how the business works and what it is worth, which will help you to negotiate when buying websites. With all that information about the investment, it will allow you to create two different price points, one in which you will not pay for the investment, so you don’t overpay of course. Along with the price point in which you would like to pay for the investment, which obviously needs to be a fair price for both you and the seller. As you need to remember the seller won’t sell unless they are happy with the price too.
So when it comes time to negotiate when buying websites, know the true value of the business according to your due diligence and those price points well. You don’t want to go for the low ball and put out an incredibly low price because the seller will not even take you seriously. Which essentially could be the end of all negotiations. Instead make it a fair enough price that you are both quite comfortable with and then work from there depending on the seller’s reaction.
At this point the seller may create a counter offer, or simply say no to which you could come back with your own counter offer. But the trick here is to not give in to the sellers wants so much so that you go over the price point in which you don’t want to pay.
Negotiating when buying websites can be tricky, however if you keep respectful of the sellers wants and even more importantly respectful of your own wants. With a slight bit of persistence if needed, you will almost always be able to negotiate a deal that is essentially a win-win. Because at the end of the day there is no point in negotiating or settling for a deal where both parties aren’t completely happy, because in my eyes that is nothing short of rude.
Happy bidding!
