Richard Wilson: a twelve-hour first-look window with a broker
Richard illustrated a broker arrangement that paired an early look at a deal with a twelve-hour response window and a larger fee if the purchase closed.
The early look came with work for the buyer
The buyer in his hypothetical arrangement asked to see a deal before other buyers. In return, the buyer would give a quick indication of interest and pay the higher fee if it bought the asset. The window was a specific period for making that first response.
Follow-through was part of the example
Richard also said the broker could stop offering the arrangement if the buyer did not follow through. The example joins access with response behavior. It was a proposed structure in the module, without a claim that any broker had accepted it.
In Richard C. Wilson's words
"I want to see every deal first, and you give me 12 hours to respond to you" (Richard C. Wilson, How to Start a Family Office mini-series)
How to use this
- Record the response deadline attached to a request for an early look.
- Distinguish a hypothetical broker arrangement from an agreement already in place.
Questions and answers
How long was the response window?
Twelve hours in Richard's illustration.
Was the example an account of a completed agreement?
He presented it as an arrangement a buyer might propose to a specialized broker.