Renier and a co-host explain how the first offer on a listing creates momentum and triggers FOMO among buyers. An early bid sets the tone for competition, pushing others to act faster and bid higher than they otherwise would.
So Renier, in terms of, you know, momentum and inspiring FOMO, or fear of missing out, how does that offer kind of influence buyers behavior once you receive that initial letter of intent?
Great question. So the first offer is important because it gets the party started. You've taken all this time to prepare your listing, all of your listing docs, all of a sudden the first offer comes in, all of the buyers get alerted, second offer comes in, third offer comes in, everyone gets fomo, everyone has that sense of urgency. So this is my opinion, the fun part of the listing process.
Yeah, and one thing I'll add too is, you know, a lot. No, no buyer, in my opinion, wants to buy a business where they feel like they're the only buyer that's interested. It's the same with, you know, startup investing. You know, typically don't want to be the first investor. It's, there's a lot of psychology behind it.
The Buyers Who Made the Move: What They Bought, How They Did It, and What Happened Next
