Rick's Musings: Get Everything in Writing

Digital Pandit

Well-Known Member
Country flag
Rick Schwartz shared some advice on Twitter that I agree with completely. When you close a deal, make sure all aspects of the deal are memorialized in an email:

https://twitter.com/DomainKing/status/1121042942364475392


Nearly all of my deals are closed via email. I don’t particularly like discussing deals on the phone, nor
do I generally have the opportunity to finalize a deal in person. I have done both though, and it is important to follow up shortly thereafter with the deal points highlighted to ensure both parties are on the same page. This is especially important when a deal is not a simple purchase but involves some sort of payment plan, revenue sharing agreement, or something else that is not particularly straightforward.

Typically, I will send a short email congratulating the other party on concluding a deal (if appropriate) and list my understanding of the deal. I will ask the other party to please confirm that we are both on the same page. Once this has been confirmed, I will send the deal bullets to my counsel to draft an agreement based on the deal structure.

Importantly, I like to send the follow up nearly immediately after the discussion. I want to make sure the deal terms are still fresh in the other party’s mind, and I like to keep things moving so nothing comes up in the interim.

I don’t recall having a deal fall through because the counterparty disagreed with my interpretation of the deal, but I almost always follow up with a summary when details are not worked out via email.

Source
 
Similar threads
Thread starter Title Forum Replies Date
Digital Pandit Rick's Musings: Trying to buy and sell domains with a keyword from a recent sale is not a good practice Resources 0
Digital Pandit Rick's musings: Need, Want, Desire, Value, Demand, Timing & Location Resources 0
Digital Pandit Rick's musings: Sales - The Art of Persuasion. Then SHUT-UP! Resources 0
Digital Pandit Rick Swartz's musings: Largest Domain Name Registrar in the World Needs Hubble Telescope New GTLDs 0
Digital Pandit Rick Swartz's Musings: "Cancer of Social Media Forces the Renaissance of Domain Names." Resources 0
Digital Pandit Rick Schwartz discusses real estate Resources 0
Digital Pandit Domaining 101 by Rick Schwartz: On Domaining, Marketing, Traffic, and Future Audience Resources 0
Digital Pandit Rick's yet another musing: 2-Minute Guide to Domain Name Valuations!! Resources 0
Digital Pandit Rick Swartz reviews the Top 10 gTLD Resources 0
Digital Pandit Rick's 10 step guide to flogging domains Resources 0
Digital Pandit Rick Swartz talks about the falling NewgTLD registration numbers New GTLDs 0
Digital Pandit Rick Swartz on Domains Names Resources 0
DNJournal.com Rick Schwartz Gets 2021 Domain Sales Season Off to a Great Start with an $850,000 Sale! The Lounge 0
Digital Pandit Rick Schwartz nets $850K from GoBet.com sale Non-Indian Domains 0
Digital Pandit Elliot Silver agrees with Rick Schwartz Resources 0
Digital Pandit Rick Swartz : Domain is the central point of everything Resources 0
Digital Pandit Rick Swartz adds to the eternal .com Vs New GTLD fight Resources 0
Digital Pandit Rick Swartz adds to the eternal .com Vs New GTLD fight Resources 0
Digital Pandit Spase.com drama: Spase.io owner gets whacked by Rick Swartz Legal Issues and Dispute 0
Digital Pandit Rick Swartz again lists his domain purchase prices Resources 0
Digital Pandit A sneak peak into Rick Swartz's dazzling domain portfolio Resources 0
Digital Pandit Rick Schwartz made a bank with Porno.com : $24 Million from payday and PPC Resources 0
Digital Pandit Following Rick's advice, an investor lands his biggest sale in seventeen years Non-Indian Domains 0
Digital Pandit Rick Schwartz signs a contract for ACRepair.com for a min value of $1.5M Resources 0
Digital Pandit Rick Swartz is here with 2020 Asheville Event Registrars 0
Digital Pandit Rick Schwartz threatened with a Cease and Desist Legal Issues and Dispute 0
DNJournal.com 7-Figure Sale of TM.com and a 6-Figure Sale from Rick Schwartz Top This Week's Domain Sales Chart The Lounge 0
Digital Pandit ICA's Response to Rick Schwartz Non-Indian Domains 0
Digital Pandit EMERGENCY Call by Rick Shwartz Non-Indian Domains 0
Digital Pandit Rick goes to Rick.TV- Here it from the man himself Resources 0
Digital Pandit Rick Schwartz posted his 1st domain name video animation Registrars 0
Digital Pandit Rick Schwartz rocks in his Podcast at Domainer.com.au Resources 0
Digital Pandit About Rick Schwartz and Mike Mann Resources 0
Digital Pandit Q&A with Rick Schwartz on Asheville Meetup Resources 0
Digital Pandit Rick Schwartz's domaining quiz:Some very difficult question answered Non-Indian Domains 0
Digital Pandit Rick Schwartz's Annual Asheville Professional Domain Investors Meetup: Find the details Resources 0
Digital Pandit Rick Swartz's list of 33 Domain Name Sales between 1999-2019 Non-Indian Domains 0
Digital Pandit Rick Swartz's Daily Twitter Video Podcast met with Rave Reviews! Resources 0
Digital Pandit Rick Swartz seems furious: Domain Investors are Used & Abused! ICANN NEEDS to be FULLY Investigated Resources 0
Digital Pandit Rick’s Asheville Meetup Grows to 70 and About to be SOLD OUT!!! Resources 0
Digital Pandit Rick Schwartz's list of domain name purchase prices from the 1990s Resources 0
Digital Pandit Rick Swartz’s latest domain registrations Resources 0
Digital Pandit A glimpse into Rick Schwartz's "kinky" portfolio Resources 0
Digital Pandit Rick Swartz: .Boston is the biggest new gTLD collapse! Non-Indian Domains 0
Digital Pandit Rick Swartz's DNW podcast Resources 0
Digital Pandit Rick Swartz: We are Much More than Just “Domain Name Investors” We are Investors! Resources 0
Digital Pandit Go!! Connect with the legend: Rick Swartz returns to Twitter with @domainking Resources 0
Digital Pandit Rick Swartz : The First Annual “Asheville Professional Domain Investor Meetup and Family Outing” Non-Indian Domains 0
Digital Pandit Rick Swartz: Domain Investing - The Slow Dance of Millionaires!! Resources 0
Digital Pandit Rick Swartz: First 25 Domains he bought from 3rd Parties and and the Actual Prices he paid Resources 0

Similar threads

whois



Forums dedicated to Indian domain names, including buying, selling, appraising, developing, and monetizing.

About Us

Threads
27,575
Messages
74,676
Members
7,680
Latest member
SSDcension
Top Bottom