Using a lawyer for initial outreach to engage potential sellers?
June 26, 2024
by a searcher from University of Denver in Denver, CO, USA
I've heard it suggested that business owners might respond better to a letter coming from a lawyer first who then introduces the buyer instead of letters of solicitation coming directly from the buyer. And even better if it shows up via FedEx.
Has anyone had success trying this method?
from University of California, Berkeley in Redondo Beach, CA, USA
I'd usually advise you loop a lawyer in at the LOI stage. A good deal lawyer can help you negotiate more terms upfront and include them in the LOI (without going too crazy and making the LOI###-###-#### pages long), which helps avoid confusion when the definitive agreements are circulated.
in Saskatoon, SK, Canada
Your campaign objective is to get the time and attention from the recipient. If you are hoping that a law firm will represent you better than your buying group... well. I have bad news. You likely haven't built a very strong group or presence ahead of time.
It's my opinion that you will get better results presenting as a group or buyer directly. Playing games through lawyers is building NO trust fast.
Personalized outreach is king. Send a letter. Send an email. Make a phone call. Make a phone call. Make a phone call. Send an email. Send a letter. Bring donuts. etc. This is all fair game until you get told to piss off. It gets the best results and has the lowest opportunity acquisition cost.