Quote by Mike DeWine
Most people who are selling their mineral rights, this is a once-in-a-lifetime transaction. The people who are buying, the landmen who are coming in, do it every day. So there's a little inequity there about knowledge.
Summary
This quote highlights the asymmetry of knowledge and experience between individuals selling their mineral rights versus those purchasing them. For those selling, it is often a unique and rare opportunity that they may only encounter once in their lifetime. On the other hand, the buyers, often represented by landmen, engage in these transactions regularly and possess greater knowledge and expertise. This disparity in knowledge can create an imbalance in negotiations, potentially placing sellers at a disadvantage.
Topics
Knowledge
By Mike DeWine
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