A Lesson: Don't OVER Negotiate

**MsNadi** · 09-12-2006 04:55 PM

Yea, I said it. Don't do it.

So my partner and I have been going back and forth over a name. We finally found one we both liked and conveyed our concept etc. It wasn't available (like anything else remotely interesting in the english, spanish or italian languages). So I checked out www.sedo.com and low and behold it was available for sale.

So we started negotiating. And we were getting near a price I could handle paying (less than 4 figures). I asked for "justification" twice and the request was ignored. THe seller came back with a final offer. I offered $100 below that and included a message asking that the price be justified (saying that I might consider paying the higher price if justification can be provided).

The seller quit. No longer available for sale.

Now two things: I was valid in my desire for justification. But for $100 was it really worth potentially losing something that was within the price range (less than $1000) and was something that we both decided could be a great name?

No.

What did I learn? Pick the battles. Some things aren't worth fighting over HAHA...especially not a domain name in this day and age of buying and reselling.

:sigh:

**verso** · 09-12-2006 05:06 PM

Yes! Sometimes it is so easy to lose perspective in negotiations - in my case, it was a pride issue.

When I bought my (first) house a few months ago, we went through several offer/counter-offer cycles that spanned several thousand dollars. On the last exchange, they counter-offered over a difference of $100.

Asinine.

In the heat of the moment, I actually considered re-offering my previous offer. In retrospect, that would have been more asinine than their piddeling around for $100 (.1% of the final price of the house).

In the end, I put my pride aside, and gave them their hundred, and overall, got a great deal on the house.

**MsNadi** · 09-12-2006 05:59 PM

Man did we learn that lesson quickly. Some things aren't worth quibbling over. And while I feel stupid, you have a good point.

Because chances are, this guy just passed up a pretty decent offer, on a domain name that cost him $10 - and it's highly unlikely that anyone ELSE is going to want that particular domain name.

Either way, the lesson learned: suck in that pride. Some things aren't worth it. Ya know? Why go back and forth over 10% of 200 when you could be going back and forth over 10% of $20MM?

**jdoc** · 09-13-2006 10:37 AM

Agreed, this can be also important when negotiating with people on your own team. Think about what really matters to you when you form a new partnership and be willing to be flexible on the rest. If you're seemingly too inflexible, your relationship can deteriorate quickly.

**Mbaptista** · 09-13-2006 02:35 PM

Very good point All of you! The best thing you can do going into a negotiation is set your bar for what you would like to get out of it. And if an offer falls into that acceptable range we have to put our greed and pride aside as they are both very ugly and negative factors and close the deal while its still in desired range before everything falls through.

**Aletheides** · 09-13-2006 06:10 PM

Originally Posted by verso

Yes! Sometimes it is so easy to lose perspective in negotiations - in my case, it was a pride issue.

When I bought my (first) house a few months ago, we went through several offer/counter-offer cycles that spanned several thousand dollars. On the last exchange, they counter-offered over a difference of $100.

Asinine.

In the heat of the moment, I actually considered re-offering my previous offer. In retrospect, that would have been more asinine than their piddeling around for $100 (.1% of the final price of the house).

In the end, I put my pride aside, and gave them their hundred, and overall, got a great deal on the house.

Haha, it would have been better if you gave them their hundred plus $1 extra with a

and a point and laugh.