I do mine a different way, and it may rub some the wrong way.
I somewhat scout here. I don't hold a waiting list, unless someone comes to me. I don't advertise for spots if they open up. Now, I've had one opening in three seasons, and that was a very unusual circumstance. So I guess I don't really have to, because I've had one gentleman on the wait list for two seasons now, and he only sticks around because his namesake is a league superstar.
I look for people that stick out to me. I found YankeePride that way, and he's been nothing but a great owner since. That may seem elitist, and maybe it is; but I have a certain feel in my league, and that's guys who have been together for 5-6 years, some longer. I need to find a guy who's going to coexist with the current owners (they're a pretty easygoing bunch of guys, but they're very comfortable with each other; I feel it's my duty to make sure I don't put someone in who would upset that comfort); if they don't, it's almost guaranteed that they won't stay.
I've only had a couple of openings since I started the league anyway, and since it's a small league, chemistry is a major key to it succeeding. Therefore, this is why I do what I do.
I should add that I welcome anyone who takes the time to email me about openings, and that method is always enjoyed. If you take the time to check things out and email the commish about joining, that's a star in my book.
If you disagree with my methods, that's your right, and you're more than entitled to it. But it works for me and my league. And, to be honest, I've seen my share of people here that I wouldn't want to invite in my league. I've seen a lot of people I'd love to invite, but the league wasn't the type they were looking for. But I've seen more than enough to not hold open waiting list applications.