In an EOI campaign, prospective purchasers have a set period of time to do their due diligence before submitting an offer by the due date. Until then, the offers are sealed so nobody knows what other purchasers are offering. Most often, we find an EOI campaign is the best choice to sell most investment properties.
In the early stages of working with a vendor on an EOI campaign, we put together a proposal that details the professional financial documents that we need, the marketing materials and an advertising strategy. I work with extensive databases accumulated during my more-than-twenty years of experience and personal connections I’ve developed over a lifetime. Analysis is critical in EOI campaigns. Any surprises can derail everything: zoning, permits, planning changes, leases, level of demand, and any risks need to be thoroughly investigated, managed and ultimately presented in the most succinct way in these times of information overload. Also, your agent must be able to handle a lot of enquiries efficiently and coolly. (We’re run EOI campaigns where we’ve managed over 90 enquiries from prospective buyers, leading to dozens of individual inspections.) The field of buyers starts very broad, then narrows. It can be high-pressure, but it’s often the best way to deliver the best price.