Key Takeaways
- Define the asset, objective, scope, and decision timeline before outreach.
- Keep data, documentation, ownership, servicing, and material exceptions connected.
- Compare complete economics and execution terms rather than a headline number alone.
- Document responsibilities, transfer controls, and the next review step.
Compare the operating models
| Decision factor | Questions for a broker or advisor | Questions for a marketplace |
|---|---|---|
| Buyer access | How are buyers selected and qualified for this pool? | Who can see a listing and who can receive detailed data? |
| Preparation | Is tape, document, or valuation support included? | What must the seller prepare independently? |
| Diligence | Who controls questions, versions, and document access? | What review tools and permissions are provided? |
| Competition | How is outreach organized and documented? | How do discovery, bidding, and comparison work? |
| Commercial terms | What fees, exclusivity, tails, and conflicts apply? | What listing, access, transaction, or other fees apply? |
| Execution | Who coordinates negotiation, closing, and transfer? | Which steps are supported and which remain with the parties? |
Scroll horizontally to read the full table.
Actual providers may combine these models. Obtain a written scope and inspect the controls relevant to the asset.
When a managed private process may fit
A specialized pool, sensitive information, limited buyer universe, substantial preparation work, or complex transfer requirements may benefit from dedicated coordination. Restricted outreach can reduce unnecessary distribution, but it can also limit the number of participants reached.
When broader distribution may fit
A seller with strong internal preparation and transaction resources may value broader discovery or standardized access tools. Review whether the participants, privacy controls, and workflow are appropriate before releasing information. Public visibility does not itself prove either superior pricing or value erosion.
Compare the total cost of execution
Include internal work, advisory or platform fees, document retrieval, legal work, servicing transition, timing, and any material continuing obligations. A low stated fee can be offset by work that remains with the seller; a larger service fee requires a clear scope and value proposition.
Select the process around the decision
Define the objective, asset, constraints, and review capacity first. Then select the provider and channel that can support the required process. Use the off-market comparison for additional tradeoffs and advisor evaluation for engagement questions.
This page provides general information for institutional and commercial readers. It is not legal, tax, accounting, investment, or transaction-specific advice. Requirements and outcomes depend on the assets, parties, jurisdictions, and agreements. Obtain appropriate professional advice for a proposed transaction.