This organization encourages buyer and seller education and net- working in the industry, in order to achieve fair and equitable transactions for all parties. If the creditor chooses to sell directly, the next step is to screen buyers to identify those who qualify for due diligence. Just as many creditors have a vendor selection questionnaire, some creditors use preliminary buyer questionnaires. This prospective buyer questionnaire outlines basic information, and can serve as a database for all interested parties. Taken one step further, the questionnaire can be used as a pre-qualifying tool based on buyer experience and methods.
Sellers can then keep a database of all callers, both prospective and known buyers.
Once the seller's preliminary data is made available to the potential buyers via the marketing piece, and the seller has received qualifying data on the buyers, it is time to proceed to mutual due diligence. Sophisticated and successful sellers under- stand that it is really much more than that. Effective and efficient portfolio marketing is actually the first step in demonstrating value to poten- tial buyers. It is the foundation upon which a future contractual relationship is built. A successful portfolio sale is contingent on getting the message to the right parties, as well as having an accurate, consistent and appropriate message.