# Marketing Confidentiality and Buyer Process

> **What this is:** A U.S.-focused guide to running a controlled seller-side investment sales marketing process, from teaser and confidentiality agreement through buyer vetting, data room, tours, and Q&A.
> **How to use it:** Load this with the OM / teaser skill or buyer-process manager skill when you need to organize outreach without losing control of confidentiality or process quality.

---

## Core Principle

Marketing a commercial investment sale is not just about exposure. It is about **controlled exposure**.

The right process balances:

- reach
- buyer quality
- confidentiality
- accuracy
- seller leverage

---

## Typical Sequence

### 1. Teaser or Targeted Outreach

Use a teaser when:

- the seller wants some confidentiality
- broad naming of the asset is not desirable
- the buyer universe needs initial screening

### 2. Confidentiality Agreement / Registration

Before deep release of information, control:

- who the buyer is
- whether they are a principal or intermediary
- what team members may access the data
- whether they agree to non-disclosure and process rules

### 3. Buyer Qualification

Confirm:

- decision maker identity
- capital source
- relevant transaction track record
- likely timeline
- seriousness and fit

### 4. OM / CIM Distribution

The OM should:

- tell the investment story
- frame the property honestly
- clarify the process
- preserve non-reliance and verification expectations

### 5. Data Room Access

Do not treat the data room as one giant undifferentiated dump.

Control:

- what is shared
- when it is shared
- who receives it
- how updates and corrections are logged

### 6. Tours and Q&A

Tours and questions should remain broker-controlled:

- scheduled
- logged
- answered consistently
- communicated back to the seller

### 7. Offer Date / Finalist Process

The buyer process should make clear:

- when offers are due
- what the seller values
- whether best and final is possible
- what additional diligence may be made available to finalists

---

## Teaser vs OM

### Teaser

Best for:

- early-stage outreach
- confidential process
- initial qualification

### OM / CIM

Best for:

- serious, registered, or qualified buyers
- full marketing narrative
- launch of structured diligence

---

## Buyer Qualification Factors

Use more than proof of funds.

Check:

- capital certainty
- relevant asset / deal experience
- ability to execute on the seller's timeline
- whether financing, governance, or approval process will slow the deal

---

## Data Room Principles

- one controlled source of truth
- document version clarity
- staged access when appropriate
- clear owner for updates
- prompt correction of inaccurate information

---

## Process Risks

- uncontrolled forwarding of OM materials
- weak CA / registration discipline
- buyer tours before qualification
- inconsistent answers to buyer questions
- data room that is incomplete, stale, or poorly organized

---

## Last Updated

Last updated: 2026-04-22

## Scope Limitations

- U.S. only
- seller-side investment sales only
- process guidance, not legal template language

Validate current local legal requirements, brokerage-approved confidentiality forms, and seller-specific privacy needs before using any process as a hard template.
