20 Questions to Ask a Prospective Broker

1. How long have you been a broker?

2. What qualifications or certifications do you have?

3. Are you a general business broker or do you specialize in dental sales?

4. How many specialty practices have you brokered in the last five years?

5. Are you a local, independent broker or part of a national group?

6. Do you perform dual representation or just represent one party?

7. What geographical areas do you cover?

8. Who will personally be handling the sale?

9. How many practices have you successfully sold in the last 12 months?

10. What percentage of asking price did the practices sell for?
11. How will you market my practice and where?

12. How do you build your registered buyer database?

13. What is your approach to practice valuation?

14. What terms can I realistically achieve in the sale?

15. What are your fees and how are they structured?

16. Are there any additional fees I will need to pay at closing (accountant, attorney, escrow, etc)?

17. How do you keep my information confidential while marketing the practice?

18. Is this your main occupation or do you have other activities to help subsidize your consulting business (i.e. selling insurance, securities, real estate, equipment/supplies, or practicing or managing dentistry)?

19. Can I review your listing contract?

20. Will you provide a current CV and a list of references?