When you have multiple buyers, you need structure or you’ll spend your life repeating yourself.
Non-exclusive LOIs can be useful early, as long as you manage the process.
What works in the real world
- Set deadlines.
- Set expectations on access and responsiveness.
- Don’t let one buyer monopolize your time without progress.
- Keep momentum toward a definitive agreement.
The key is to keep the process fair and moving, without turning it into chaos.
What to do this week
- Create a timeline with milestones and share it with serious buyers.
- Standardize what documents you share and when.
- Track buyer responsiveness as a signal of future behavior.