Updated: Apr 27, 2020
The number 1 complaint about Business Brokers is lack of communication. My personal journey to becoming a Business Broker was partially a result of having experienced this problem myself. I've been buying, selling, and helping others buy businesses for over a decade and a half. Although I've had the pleasure of working with some outstanding Brokers, most fell short and had me doubting the value of the profession. I was often discounted as a buyer, and sometimes ignored by Brokers. Hurdle after hurdle just to get a little bit of information about a business. Sound familiar? After dedicating myself full-time to the profession, I learned why Brokers create barriers and suddenly disappear. 90% of listed businesses do not sell. Of the 10% that do, it takes an average of 9 months to find the right buyer. With the odds stacked against a sale happening, many Brokers limit their time and energy responding to buyer inquiries or strategizing with Sellers. When you ask them for a marketing presentation, they didn't bother to create one. When you ask for basic financials, they require an offer and an earnest deposit. They call themselves savvy or experienced, I call them jaded and lazy. They often take any listing and promise the seller the world. These Brokers will have the same listings for years and will have a lot of them. They're playing the numbers game. Quantity over quality. While this strategy works financially for the Broker, it's a great disservice to the client. Any Broker worth his salt will create a detailed marketing packet for their clients. This presents the business in a professional manner and is a reflection of the business, the seller, and the Broker. We offer 3 month contracts, which is the shortest commitment in the industry. We also provide bi-weekly stats to the seller to show the activity on their listing and the "click through rate". I am happy to explain further in person. We keep our total businesses for sale count to around 10 per Broker.