Closing Percentage

maxheadroom · Oct 8, 2002

Hi,

I'm just wondering, what are people's closing percentage?

Meaning, of all inquires you receive for your domains, how many start out like they are going somewhere, get to an agreed price, but then never hear from them again?

I'm not counting "how much" emails and then you never hear back. I'm talking about domains in which both parties agreed to a price and then one party backed out.

In my case it's about 20% walk, close 80%, and I'm just wondering... what others experiences are.

Also, could you give your total number of domains sold (if willing.)
(I've sold over 200)

Thanks.

RMF · Oct 8, 2002

I'm not a lawyer, but I have to wonder about that. If a buyer/seller agree on a domain sale, and if you have the email to prove it, and the buyer backs off, couldn't you take him to court(and Win)?.

RMF

draqon · Oct 8, 2002

as far as i know:

as long as 'offer and acceptance' occurs between two individuals or parties, it is considered a contract. however proving that in court might get very expensive.

besides, even if you win a judgement against someone, it still might be hard to collect.

maxheadroom · Oct 8, 2002

Sure. Absolutely. Offer and acceptance for mutual benefit is a contract. But the cost to persue such cases out of state and out of country is impossible, unless the domain is very high dollar and there is assurance of collection.

For me, I just live with it, but was wondering what the "state of the business" is.

eddie1278 · Oct 8, 2002

In my mind an e-mail is not considered a legal binding contract. Any contracts should be signed at a notary or drawn up by a lawyer.

maxheadroom · Oct 8, 2002

Hi Eddie,

The courts have recognized oral contracts for 600 years. An email is just as much an "oral" contract as any. In fact, it can even be memorialized (validated & verified) quite easily if people act fast enough.

A contract is easier to enforce if it's written, but it's certainly not a requirement. In fact, I've settled cases for thousands of dollars based on oral contracts. And much of the case envolving Microsoft and the justice department was based on emails.