Following the sellers lead as a business broker

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We all have our own unique personality types, and for better or worse the host of complications that ensue because of them. As a professional business broker, we at times need to learn how to balance on a razor thin line when dealing with our sellers. Yes, we do want to act friendly and even attempt to develop a personal relationship with them to a certain extent. There is absolutely nothing wrong with that, and we encourage it with all of our agents as it will make everyone’s lives a whole lot more enjoyable. But, the reality is that if they did not need our assistance they would have sold their own business by themselves and saved out on paying any brokers fees. For whatever reason, that is not the case. We have accepted the responsibility of selling a clients business, and incurring all of the costs that are involved. By signing the listing agreement the seller has legally given us all of the authority that we will need to do our jobs properly, but psychologically this does not necessarily always compute. Entrepreneurs are tough people in general; they need to be in order to survive in an unforgiving environment. They are also notoriously stubborn, preferring to get their own way whenever possible even at the expense of others. Successful business brokers know these are just the undeniable facts of life and they are willing to deal with the implications on a daily basis. Arguments will inevitably occur as disagreements are fairly common and at times the situation may get down right uncomfortable as neither side wants to give an inch. This is not a bad thing, as long as you can work through it in the end. Do not even attempt to avoid the conflict as it is better to get everything out in the open as soon as possible. The last thing you want is for everything to start to unravel with the closing scheduled the next day. No, it is much better to have all of that ironed out before a firm offer is even made. What are a few of the things to look out for? Lack of communication can be a major issue; whether it is not answering the phone or the concealing of certain facts. This is directly related to instances of blatant and intentional deceit; everyone involved in the transaction deserves to know exactly what is going on upfront so that they can make an educated decision whether they want to get involved or not. Beyond that, things may end up moving at a certain pace that can be hard to deal with. Sales in general can be fast paced at times, while at others extremely slow moving. Timing is everything and you are going to want to strike hard when the iron is hot, and then real it back again in order to get through the murkier waters while holding momentum. Throughout this process remember that you need to ultimately be in control of every last aspect of the sales cycle, properly guiding both the buyer and seller down the predetermined path, always moving towards the closing of the deal. Lastly, any experienced sales professional can tell you that when things seem to be going too smoothly you better watch out. Adding to those words of wisdom just a little bit, that does not mean that you want to actively search for any issues. Excessive digging or worrying can potentially create problems that you were trying to avoid in the first place, some of which would have never of even existed otherwise. Instead, you should appreciate the smaller issues for what they really are, just bumps in the road that serve as indications that you are continuing to move in a forward direction. Every once in a while you will get to enjoy a deal in which everything just falls perfectly into place and you earn your pay check without a hitch. More often then not, you need to concerned when things are quite instead of just assuming that everything is OK. Hearing about the hesitations and anxieties that are giving the buyer pause are good things; when they are not bothering to share these concerns with you is when you need to worry.

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