Sellers can spend excessive amounts of time interviewing prospects at separate meetings, and none of the candidates gets to see the competition. The result is a tired and frustrated seller and relatively few and/or low offers.
Here is how I like to do it:
- Market announcement Email blast, LinkedIn and Facebook post – 22 responses to initial ad for practice
- One (1) evening meeting to meet 8 prequalified docs.
- One (1) evening meeting with four candidates with best offers – All then came up to asking price.
- Doc selected first and second choice – reached agreement with first same week.
- Went From listing to closing in 71 days.
Advantages for you the seller
- Competition is evident, and candidates respond accordingly
- Reduces wasted time with non-buyers
- Limited and productive time with buyers
- The law of Supply and Demand brings higher offers.
If you are interested buying or selling a practice, please get in touch for a free practice evaluation.